India equity markets end the week in green despite profit booking today.

Indian equity markets witnessed selling pressure today. However, the weekly gains in the market were positive aided by a rise the first half of the week. RBI continued its pause on rate hike and decided to keep the repo rate unchanged at 6.50%. The week ended flat with Nifty 50 gaining 0.2%; underperforming Nifty Midcap 150 Index and Nifty Small Cap 250 Index which gained 0.9% and 1.2% respectively.

Sectoral Indices were a mixed bag with Nifty Auto, Nifty Realty and Nifty Metal gaining the most i.e 1.6%, 1.5% and 1.4%, respectively. While Nifty IT, Nifty PSU Bank and Nifty FMCG fell the most, losing (-) 3.3%, (-) 1.4% and (-) 1.2%, respectively.

US market indices rallied as the spike in the unemployment claims ramped up the possibilities for pause in Fed's interest rate hike cycle. S&P 500 (US) Index^, Dow Jones and Nasdaq^ gained 1.2%, 1.9% and 0.4% respectively. Data showed the Eurozone economy is in technical recession. This dragged FTSE down by (-) 0.6%. Following the US rally, the Asian indices were up with Hang Seng, Kospi, and Nikkei gaining 2.0%, 2.1%, and 1.1% respectively, during the week. Whereas Shanghai composite index fell by (-) 0.05%.

MACROS Update:

Brent crude prices rose this week to reach: $75.73.

The rupee ended slightly lower to settle at Rs 82.46 against the US dollar.

Gold prices went down to settle at Rs 59,714/-.

Source: www.nseindices.com; google finance, MCX Gold Prices; www.rbi.org.in; Morningstar and tradingeconomics.com

Data for week ended on June 09, 2023. ^ data as on June 08, 2023

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