Weekly market update, Mar 08, 2024

Indian equity indices hit their fresh record high and ended higher this week and after the U.S Fed Chair, in congressional testimony, signalled a rate cut this year. S&P BSE Sensex and Nifty 50 rose 0.42% and 0.51%, respectively. Broader markets underperformed benchmark indices, with the S&P BSE Midcap index ending with 0.27% losses and the S&P BSE Smallcap closing 2.61% lower. Most sectors ended higher with Metal, Power and Banks gaining the most. However, S&P BSE information technology fell 1.42%.

According to experts, The domestic macroeconomic figures; industrial production and inflation numbers along with global trends would dictate trends in the equity market in the coming week. Besides, trading activity of foreign investors, movement of global oil benchmark Brent crude and rupee-dollar trend would also influence trading in equities.

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