Quote on Weekly Round - Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
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Below the Quote on Weekly Round - Up by Shrikant Chouhan, Head Equity Research, Kotak Securities
The Nifty-50 Index and Sensex each gained 1% in the past week. Both the mid-cap index and small-cap index gained around 1.5% outperforming large-caps. Sector-wise, all sectoral index ended in green except for Realty (-1.8%) and Bank Nifty (-0.5%). Major sectoral gainers for the week include, Oil and Gas (+4.3%), Auto (+3.9%), Consumer Durable (+3.3%), FMCG (2.3%) and Pharma (+1%). Within the Nifty, Dr Reddy (+10.5%), Eicher Motors (+9.3%) and Maruti Suzuki (+8.9%) gained the most, while Wipro (-4.5%), Hindalco (-4.1%) and ICICI Bank (-3.3%) lost the most. FPI were net sellers in the past five days, while DIIs were net buyers in the same period.
In Global, in US the number of Americans filing new applications for unemployment benefits dropped to an eight-month low of 211,000 last week, below the 222,000 estimate. The dollar index climbed to 109.54, its highest since Nov. 10, 2022. In Europe, Turkey’s consumer price index fell to 44.38% on an annual basis in December, down from 47.09% in November. Investors are also watching out for the latest inflation figures from Poland, as well as unemployment reports out of Germany and Spain and mortgage data from the U.K. In Asia, People’s Bank of China is reportedly planning to cut interest rates from the current 1.5% level “at an appropriate time” this year. China will also expand issuance of ultra-long bonds and ramp up efforts to boost consumption. In South Korea the investigator has failed to detain impeached President Yoon Suk Yeol.
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