The Indian stock market is in the red for quite some time now. The bears are dominating the Dalal street and investors are losing money as the charts are pointing south. Almost all sectors are witnessing a selling spree. When the markets closed on Friday the Nifty index, metal, IT, bank, auto, and finance were among the top losers.

The stock market is down. Its primary indices NIfty and Sensex saw selling pressure for fourth week in a row. They were all down between 2 to 3 percent. Though little respite was witnessed in ITC shares which were top gainers on the Nifty 50 though the gain was just 1 percent

The two main share market indexes – Sensex and Nifty – dropped around 2 percent when the market closed for the weekend. It was the worst performance of the two indexes since last November. The market experts feel that interest rate hikes in quick succession to tame surging inflation could have slowed global economic growth.

The NSE Nifty 50 index was down 1.90 percent or 317.20 points at 16,365.45, with all sectors trading in negative territory. The S&P BSE Sensex fell 1.83 percent or 1,020.78 points to 54,681.45 when markets closed. The benchmark indexes have seen downward trends for four weeks. In this period they lost around 6 percent.

As always the stock exchange responds to several external stimuli. The surprise interest rate hike by the Reserve Bank of India, withdrawal, and selling by foreign investors, and no so encouraging corporate results were possible reasons for investors’ withdrawals could be cited as some prominent reasons for the share market downside.

According to Refinitiv Financial Solutions, foreign investors sold Indian equities worth $635 million this week and $881 million in the previous week.

Besides, the US market is also not moving up. The market expert Prashanth Tapse, vice president of Research, Mehta Equities was quoted saying that the domestic market is also responding to the global market which is concerned about high inflation and Fed rate increase. The Fed on Wednesday raised interest rates by half a percentage point. Things aren’t looking up as US Federal Reserve may further raise interest rates to combat high inflationary trends. Some experts feel that the Nifty could touch 14,000 if the situation doesn’t improve in the USA and Ukraine war continues unabated.