Markets sharply fell in the week as fears around high inflation data in US, interest rate hikes, spread of Omicron gripped investors.

Weekly Movement of Key Indices

Though Fed has been hinting at possible rate hikes, Bank of England set the precedent by being the first central bank to raise interest rates in post-pandemic era. Interest rate hikes usually signal higher fall in mid and small cap segments than large cap segments.

Alongside, rising fears around the spread of Omicron globally and re-initiation of lockdowns in countries have also spooked markets.

US markets also saw a fall in the previous week, though less severe than Indian markets.

Weekly Movement of Key Sectoral Indices

The fall in key indices was led by banks, mainly PSUs. Pharma sector outperformed benchmarks amid increased activity expected in this segment as the variant spreads.

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