Weekly market update, Jun 28, 2024

Indian equity indices rose for the fourth consecutive week to record their best month so far this year despite mixed signals from the global market. Investor attention was predominantly on large-cap stocks, resulting in underperformance of mid and small-cap segments. On the weekly front, The NSE Nifty 50 rose 2.17% and the S&P BSE Sensex gained 2.36% this week. Broader indices, The BSE Midcap rose 0.42%, and the BSE Smallcap ended 0.37% higher. On sectoral front, most sectoral indices ended the week on positive note. The IT sector especially showed notable recovery along with private banks which outperformed public sector banks in the banking segment.

Analysts expect that Indian equity markets will be guided by the major domestic and global economic data including S&P Global Manufacturing PMI (Jun), ISM manufacturing PMI, and trading activity of FII’s, oil prices, rupee-dollar movement in the coming week.

Please click here to read the detailed report: https://lnkd.in/gJKc-hUX