Weekly market update, April 05, 2024

Indian equity markets ended the first week of financial year on a positive note as key benchmark indices S&P BSE Sensex and Nifty 50 rose 0.83% and 0.84% respectively. The rally was broad-based as the mid-cap and small-cap segments also closed the week in green with healthy gains. Domestic equity markets rose during the week supported by robust domestic manufacturing and services data of Mar 2024, and buying in select heavyweights across sectors. However, weak global cues including crude oil prices weighed on sentiment.

After a positive start to the new financial year 2024-25 (FY25), Analysts expect that the first set of January-March quarter results for fiscal 2023-24 (Q4FY24), domestic macroeconomic data, corporate announcements, crude oil prices, foreign capital outflow, and global cues are the main stock market triggers that will guide market direction in the second week of April 2024.

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