Weekly market update, Mar 17, 2023

India equity markets witnessed losses during the week as key benchmark indices S&P BSE Sensex and Nifty 50 fell around 2%. Domestic equity markets fell sharply initially as the ongoing crisis at a major private sector bank in U.S. dampened investors’ sentiment. Markets continued to remain under pressure after domestic retail inflation continued to remain above the Reserve Bank of India’s upper tolerance level of 6% in Feb 2023. Among the broader market indices, The BSE Midcap and Smallcap indices lost by 2.05% and 2.81%, respectively. On the BSE sectoral front, S&P BSE Auto fell the most by 3.78% followed by S&P BSE Teck and S&P BSE IT which fell 2.70% and 2.44% respectively.

In the coming week, Market analysts expect that In absence of any major domestic event, the focus would be on the upcoming FOMC meet scheduled on March 21-22. Besides, movement in crude and trend of foreign flows will also be in focus for cues. Apart from this, the Japanese inflation rate for February will be announced on 24 March, 2023.

Please click here to read the detailed report: https://privetwealth.com/wp-content/uploads/2019/09/Weekly-Market-Update-17.03.2023.pdf