Weekly Market Round-off by Shrikant Chouhan, Head of Equity Research, Kotak Securities
Below the Quote on Weekly Market Round-off by Shrikant Chouhan, Head of Equity Research, Kotak Securities
Equity markets saw a strong performance this week with the benchmark and most of the sectoral indices posting gains. The Nifty-50 and the Sensex-30 index gained ~2% this week. Most of the sectoral indices ended the week with gains, with the exception of BSE Energy and BSE Oil & Gas indices.
Sentiments in global equity markets remained positive, as US macro data provided broad comfort in inflation management, even as labor data disappointed a bit. Meanwhile, the recent correction in global oil prices on increased concerns about global demand is a positive for the Indian economy.
India’s CPI inflation at 3.7%, remained steady in August 2024. Comfortable domestic inflation and benign global conditions should provide leeway to the RBI. In Europe, the ECB lowered its deposit rate by 25 basis points to 3.50%. The focus in the coming week will on the upcoming US Fed meet as they approach towards monetary easing.
Above views are of the author and not of the website kindly read disclaimer
More News
Morning Nifty and Derivative comments 08 November 2023 By Anand James, Geojit Financial Serv...