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With high volatility in the Indian economy owing to the ongoing struggle between FIIs and DIIs, this trading week ended on a mixed note for the Indian indices. The Nifty 50 closed and Nifty Midcap 150 Index closed flat with (-) 0.5% and 0%, during the week. Nifty Smallcap 250 on the other hand closed on a positive note, gaining 1.0%.
This was a volatile week for the sectoral indices as well. Out of the sectoral indices closing in the green; Nifty Healthcare Index, Nifty Metal and Nifty Pharma were the top performers, gaining 1.6%, 1.2% and 1.2% respectively. On the other hand, Nifty Media, Nifty Realty and Nifty Private Bank were the top losers, losing (-) 10.8%, (-) 4.5% and (-) 2.3% respectively.
The global markets ended the week on a positive note. Each of the US Indices closed in the green, with S&P 500 (US) Index^ , Dow Jones^ and Nasdaq^ gaining 2.3%, 1.4% and 3.3% respectively. This came in as a response to the consumer views which were supported by confidence that inflation has turned a corner, further strengthening income expectations. FTSE^ Index gained 0.8%, owing to the raised investor confidence as the UK started the year on a positive note and have been moving towards cutting down the interest rates. The Asian Indices were a mixed bag this week with each of Nikkei 225, Hang Seng and Shanghai Composite gaining 0.9%, 5.2% and 2.4% respectively. Kospi on the other hand saw a flat growth of 0.1%.
MACROS Update:
Brent crude prices increased this week to reach: $ 81.17.
The rupee rose slightly to settle at Rs 83.08 against the US dollar.
Gold prices went up slightly to settle at Rs 62,151 per 10 grams.
The 10 Yrs G-Sec was at 7.17% compared to its last Friday close of 7.19%.
Source: www.nseindices.com; google finance, MCX Gold Prices; www.rbi.org.in; Morningstar and tradingeconomics.com
Data for week ended on January 25, 2024. ^ data for the week (Thu – Thu) i.e., January 24, 2024
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