Weekly market update, Aug 02, 2024

India’s benchmark equity indices snapped eight-week rally to end lower amid mixed signals. On a weekly basis, the Nifty fell 0.47% and the Sensex closed 0.43% lower. Broader market indices, The S&P BSE Midcap ended 0.06% lower and BSE Smallcap closed 0.62% higher. On sectoral front, most sectoral indices ended lower except BSE Health care, ended 1.57% higher.

Analysts expect that the Indian equity markets will be watching out for key macro-economic data in the week starting August 5. All eyes will be on upcoming Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI).  Meanwhile, Indian equity markets will also be guided by the next set of April-June quarter results for fiscal 2024-25 (Q1FY25), Israel-Iran conflict, domestic and global macroeconomic indicators, foreign fund inflow, crude oil prices, and global cues in the coming week.

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