Nifty snaps 4-week gaining streak; global cues, macro data in focus

Nifty ended lower this week. For most days, the market traded flat to negative and lacked the trigger to move higher. 

Indian stock market this week: Nifty movement this week

The Indian equity market traded in the flat-to-negative zone on Monday as investors remained concerned about central bankers' mood concerning future rate hike plans. Metal was the top-performing sector, while Media shed more than 2%.

On Tuesday, the Indian equity market opened negatively, but the rally in the last hours helped the market close in the green. NIFTY50 closed at its third-highest level, and Sensex closed at its highest level. Most sectors ended on the higher side.

The Indian equity market ended the day lower on Wednesday, with most sectors closing in the red. The Banking and IT sectors made decent gains. Bikaji Foods got listed with a 7.5% premium, while Global Health made a decent debut and was listed with a 19% premium.

On Thursday, the Indian equity market closed lower as a negative outlook and softer demands put all the global markets under pressure with most indices ending lower. Tata Motors shares slipped 2% after JLR CEO Thierry Bolloré resigned.

The Indian equity market ended lower for the third consecutive day on Friday as global negative cues kept the investors demotivated. The only sector that closed in the green was PSU Banks. Life Insurance Corporation of India cuts its stake in Bajaj Auto by 2% stake.

Market this week India: Top Nifty gainers and losers
 

Key highlights for the week:

SEBI to introduce cyber security framework: SEBI is planning to come up with a cybersecurity framework for stock brokers that will help in reducing the impact of potential risks by data leaks, cyber fraud, and hacking of trading accounts. 

SEBI to regulate financial influencers: SEBI said it is working on a set of guidelines for financial influencers, or finfluencers, giving unsolicited financial advice on social media platforms. The regulator must take a segmented stance to address the menace of unsolicited stock tips on social media.

Paytm stock crash: Paytm shares more than 15% this week. One of the biggest reasons for the price crash was SoftBank's stake cut in the company. SoftBank had a 17.5% stake in Paytm as of Sept 30 and this week it offloaded a 4.5% stake in the company. The sale follows the end of one-year mandatory lock-in for pre-IPO investors. Check what analysts are saying here.

Market this week India: Top sectoral gainers and losers

Asia to clock higher growth: Chetan Ahya, Chief Asia Economist, Morgan Stanley has said that Morgan Stanley is bullish on Asian countries and expects them to register higher growth than the US in FY23. He expects Asia's GDP to grow from the present 3.5% to 4.6% in the second half of the next year. For India, the global slowdown and weak exports were the key reasons Morgan Stanley kept GDP growth at 6.2% for the next year.