Weekly market update, Oct 13, 2023

Indian equity markets remained volatile for yet another week but managed to end in the green. The S&P BSE Sensex rose 0.44% and NSE Nifty 50 was higher by 0.50%, this week. The beginning was downbeat, tracking feeble global cues but the situation improved in the following sessions with stability in the world indices. However, pressure in the IT majors combined with the prevailing underperformance of the banking pack continues to weigh on the sentiment. While domestic factors such as a significant drop in CPI data and impressive industrial production helped to sustain the broad optimism. The broader market indices too ended marginally higher; the S&P BSE MidCap Index was up 0.71%, whereas S&P BSE SmallCap Index was also 0.86% higher. On the sectoral front, Nifty Realty and Auto gained the most this week, whereas Nifty IT and bank declined.

The coming week will be crucial from the domestic and technical point of view as investors will closely eye the ongoing Q2FY24 results. Analysts expect the market to remain range-bound as participants will take further cues from crude oil prices, Israel-Hamas conflict, and macroeconomic data.

Please click here to read the detailed report: https://privetwealth.com/wp-content/uploads/2019/09/Weekly-Market-Update-13.10.2023.pdf