Quote on Market Weekly Round-Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
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Below the Quote on Market Weekly Round-Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
Domestic equity market performance was mixed this week. Sensex 30 and Nifty 50 index created a new high before witnessing some correction on Friday. However, both these indices ended the week with marginal gains. Mid-cap and small-cap underperformed the large caps. BSE Midcap and BSE Smallcap index saw negative returns in this week. On the sectoral basis, the BSE IT index saw weekly gains amid Q1FY25 earnings. In a volatile market, the BSE FMGC index showcased strength.
On the other hand, BSE Capital Goods, BSE Metals and BSE Commodities indices saw profit booking. Domestic equity markets reacted to global developments, Q1FY25 earnings and commentary from the large IT services sector. The investors would have positioned themselves for the upcoming FY25 budget. For the market participants, budget would a key event in the upcoming week. Stock specific action will continue over the next few weeks in view of Q1FY25 result season. Further, the investors would look for cues to get clarity with respect to possible decision from the FOMC meeting scheduled next month.
Above views are of the author and not of the website kindly read disclaimer
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