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

The Nifty-50 Index and Sensex were flat to marginally negative in the past week, while the mid-cap index lost around 0.45% and small-cap index lost 1.3% underperforming large-caps. Indian Markets underperformed most global markets as markets grappled with slowing macro and weak micro conditions. Meanwhile, the Q2FY25 earnings season continued to remain weak, with more misses than hits observed. Sector-wise, Nifty IT was the main performing index with gains of 3.6% during the week. While most other sectoral index ended in red. FMCG (-1.7%), Metal (-1.6%), Oil&Gas (-1.4%), realty (-4.1%) and power (-2.5%) lost the most. Within the Nifty, M&M (+5.4%), Apollo Hospital (+5.2%) and Tech Mahindra (+4.9%) gained the most, while Trent (-11.7%), Coal India (-6.7%) and Asian Paints (-5.8%) lost the most. FPI selling continued, with US$2 bn of outflows in the past five days, while DIIs bought US$1.7 bn in the same period.

Global market sentiment saw sharp volatility in the aftermath of Republicans winning all three branches of the US government, resulting in rising US bond yields and the dollar, as well as the US equity markets beating most EMs. Treasury yields had tumbled on Thursday after the Federal Reserve announced a 25 basis point interest rate cut to a target range of 4.50%-4.75%.

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