Weekly market update, July 05, 2024

Indian equity indices rose for the fifth week to record the best streak of weekly gains amid the positive market momentum and supported by favorable global cues. On a weekly basis, BSE Sensex and Nifty 50 gained 1.22% and 1.30%, respectively. Broader indices outperformed the large-cap index, The BSE Midcap rose 2.77%, and the BSE Smallcap ended 3.88% higher. On sectoral front, most sectoral indices ended the week on positive note. BSE IT services performed strongly ahead of the upcoming Q1 FY25 earnings season.

In the second week of July, investors will keenly eye any Union Budget-related or government policy announcements. The first set of April-June quarter results for fiscal 2024-25 (Q1FY25), domestic and global macroeconomic data, corporate announcements, foreign fund inflow, crude oil prices, and global cues will drive market movement in the coming week.

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