Weekly Market Outlook : The week commenced with a relatively flat trend in the domestic market Says Vinod Nair, Geojit Financial Services
Below is on Weekly Market Outlook By Vinod Nair, Head of Research at Geojit Financial Services
The week commenced with a relatively flat trend in the domestic market, as the global equities exhibited a negative bias due to concerns over economic growth stemming from political instability in Russia. However, positive economic surprises in the global market and the progress of the southwest monsoon provided a much-needed boost, enabling the domestic market to achieve new highs with renewed vigour. The market's upward momentum was further supported by strong inflows from FIIs, the merger update of HDFC, and a narrowing current account deficit. Globally, investor confidence was uplifted by favourable revisions in US Q1 GDP, a decline in jobless claims, and positive outcomes from the US bank stress test conducted by the Fed. IT, Pharma, and Auto sectors emerged as top performers throughout the week, making significant contributions towards overall market performance. Additionally, mid- and small-cap stocks recovered from their losses of the previous week, indicating a regained investor interest in these segments.
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