Weekly market update, July 07, 2023

The Indian equity markets experienced another week of record highs, primarily driven by aggressive buying from Foreign Institutional Investors (FIIs). However, profit-booking occurred in the last trading session due to weak global cues, particularly concerns over the aggressive monetary policy by the U.S. Federal Reserve and renewed trade conflicts between U.S., Europe and China. During the week, Key benchmark indices, S&P BSE Sensex and Nifty 50 gained 0.87% and 0.74% to close at 65,280 and 19,331 respectively. The broader indices, the BSE Midcap and Smallcap gained 0.77% and 1.61% respectively. All sectoral indices advanced this week except Nifty IT.

Analysts expect that equity markets in the coming week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro and domestic inflation and IIP data taking the centre stage in dictating the movement in equities. Besides, global factors and trading activity of foreign investors will also drive the markets.

Please click here to read the detailed report: https://lnkd.in/gf_jp9Hf