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Below the Quote on Weekly Market Round By Shrikant Chouhan, Head Equity Research, Kotak Securities

Indian equity markets corrected sharply this week as FII continued with selling in Indian markets. Benchmark indices (Nifty 50 and Sensex 30) declined between 2-3% this week. The midcap and the smallcap stocks witnessed selling pressure. As a result, the BSE Midcap and the BSE Smallcap indices underperformed the larger peers and were down between 5-8% on a weekly basis. All the sectoral indices ended the week in the red with multiple indices seeing a weekly fall in excess of 6%.  Market sentiment was also weighed down by weaker-than-expected Q2FY25 earnings and a weak commentary. The RBI MPC minutes released this week highlighted the fairly balanced risks to growth-inflation.

Globally, geo-political development will likely keep the equity markets and prices of certain commodities volatile. In the coming weeks, key events include the US elections and the US FOMC meet. Stock specific action will continue based on Q2FY25 financial performance and management commentary.

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