Sensex and Nifty, the equity benchmark indices, continued to decline on April 16 due to heavy selling in IT stocks, weak global trends, and concerns about escalating tensions in the Middle East. Foreign fund outflow also impacted investor sentiment. The Sensex fell 456.10 points or 0.62% to settle at 72,943.68, while the Nifty declined 124.60 points or 0.56% to finish at 22,147.90. Major laggards in the Sensex basket included Infosys, IndusInd Bank, Bajaj Finserv, Wipro, HCL Technologies, Bajaj Finance, Tech Mahindra, Tata Consultancy Services, and Larsen & Toubro. Read more for details.
Macro-economic data releases and global trends are expected to influence market trends this week. The equity market may face volatility due to high valuations, and large-cap stocks could continue to outperform. Foreign Institutional Investors (FIIs) are likely to maintain their buying spree. Inflation data from India, the US, and China will provide insights into the global macroeconomic outlook.
