Weekly market update, Dec 01, 2023

India’s benchmark stock indices ended higher for the fifth consecutive week as strong macroeconomic data, continuous foreign fund inflows added to optimism over the global interest rate outlook. The blue-chips Nifty 50 and BSE Sensex gained 2.39 per cent and 2.29 per cent, respectively. The Nifty 50 index scaled a new high on the back of strong GDP data for the July–September quarter, positive cues from state exit polls and signs of revived FPI inflows. The broader market indices; the S&P BSE MidCap Index was up 2.90%, whereas S&P BSE SmallCap Index was 1.90% higher. All sectoral indices ended with weekly gains this week. Nifty Energy, Nifty Media and Nifty Metal gained the most by over 3%.

Analysts expect that investors will eye a host of stock market triggers in the coming week including the upcoming Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI), state election results, foreign capital inflow, and global market cues.

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