Weekly market update, Apr 07, 2023

India’s benchmark stock indices ended higher for the second week in a row and at a four-week high after the Monetary Policy Committee kept the benchmark repo rate unchanged. The S&P Sensex logged weekly gains of 1.43%, whereas Nifty advanced 1.38% this week. The broader market indices S&P BSE MidCap Index was up by 1.19%, whereas the S&P BSE SmallCap Index was higher by 2.85%. All the sectors advanced this week, with Nifty Realty, Midcap 100, Pharma, and Media being the top gainers.

Analysts expect that coming week kick starts the earnings season and the two IT majors viz. TCS and Infosys and banking heavyweight, HDFC Bank, will announce their numbers. Besides, on the macroeconomic front, participants will be eyeing IIP and CPI inflation on April 12 and WPI Inflation on April 14. Apart from domestic factors, global cues and trends of foreign flows will also be in focus.

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