Weekly market update, April 14, 2023

Indian equity benchmarks extended gains for the third week in row, Sensex logged weekly gains of 1%, while Nifty advanced 1.30% this week aided by positive quarterly business updates from leading sectors and continued FII buying. The RBI’s decision to keep the policy rates unchanged, along with positive revisions to GDP and inflation forecasts, also bolstered market sentiment. The broader market indices too ended higher, with the S&P BSE Midcap gaining 1.52% and the S&P BSE Smallcap rising 1.53% during the week. Nifty IT and Nifty Media are the only sectoral indices that declined this week, whereas Nifty Realty emerged as the top gainer for the second week in a row.

In the coming week, Market analysts expect that amidst a lack of major events to fuel the sentiment, the stock market will react to Infosys and HDFC Bank’s Q4 earnings, while awaiting upcoming results such as HCL Tech, ICICI Prudential, and Tata Communications. Also, global trends will further dictate the mood. Sensex and Nifty 50 have impressive returns in the past 9 days’ winning spree, holding the longest rally since October 2020.

Please click here to read the detailed report: https://privetwealth.com/wp-content/uploads/2019/09/Weekly-Market-Update-14.04.2023.pdf