The start of the new month was not good for the domestic market. During the first week of September, the market not only fell, but its longest rally also came to a halt. During the week, the domestic market registered a decline of about one and a half percent.
The market fell so much last week
On the last day of the last week, Friday, September 6, the BSE Sensex closed at 81,183.93 points with a huge fall of 1,017.23 points (1.24%). On the other hand, the NSE Nifty50 index lost 292.95 points (1.17%) and closed at 24,852.15 points. For the whole week, the Sensex fell by 1,181.84 points i.e. 1.43% and the Nifty fell by 383.75 points i.e. 1.52%.
Nifty made this history
Before falling, the NSE Nifty rose for 12 consecutive sessions in which the index gained 1,096.9 points or 4.54 percent. That was the longest rally in the 31-year history of the Nifty.
American market spoiled the environment
Last week, the domestic market was mainly affected by external factors. Weak economic data in the US affected the stock markets around the world. Weak global signals also affected the domestic market. In fact, after the economic data in the US, the fear has increased that the US Central Bank Federal Reserve may take additional time to reduce interest rates. The market was disappointed due to this reason.
Hope for recovery in the market
Talking about the new week, inflation figures are going to be released at the domestic level. Retail inflation figures will come on September 12. Along with that, industrial production figures will also be released. Market activity is going to remain brisk during the week. 13 new IPOs are being launched in the market in the next 5 days, while 8 new shares are going to be listed. The US market showed a slight recovery on Friday. In such a situation, the domestic market can also take the path of recovery in the new week.
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Also read: Huge opportunity! IPOs of 13 companies are opening this week, 8 new shares will be listed
