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Below the Quote on Weekly Market Round-Off by Shrikant Chouhan, Head Equity Research, Kotak Securities

The Indian equity markets underperformed most of the global markets. Sensex and Nifty index declined by ~2% this week. The correction was more severe in the midcap and the small cap stocks. BSE Midcap index and Smallcap index declined by 5% during the week. Almost all major sectors saw decline in this week with BSE Capital Goods, BSE Power and BSE Reality indices witnessing weekly loss in excess of 5%.

On the contrary, BSE IT index gained post TCS results. TCS reported flat revenues and 40 bps increase in EBIT margin, broadly in line with our estimates. Deal TCV grew sharply qoq and yoy for TCS. Crude oil price continued its uptrend during the week and any significant further increase can pose some challenge to the economy. Upcoming inflation data would be an important macro data to watch out. Stock specific action is expected over the next few weeks as the companies declare their Q3FY25 results.

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