Weekly market update, Dec 06, 2024

Domestic equity benchmark indices recorded its biggest weekly gains since early June, driven by the Reserve bank of India (RBI)’s liquidity boost and the return of foreign capital inflow just before year-end. On a weekly basis, the Nifty 50 ended 2.26% higher, and Sensex ended 2.39% higher. Broader market indices outperformed. BSE Midcap closed 3.47% higher and BSE Smallcap ended 3.35% higher. On sectoral front, On the NSE, 11 out of 12 sectors advanced and one declined. The NSE Nifty Realty rose the most, while the NSE Nifty FMCG sector declined the most.

Analysts expect that the second week of December will draw focus to key global macro developments while domestically, attention turns to the retail inflation print. The European Central Bank will decide on its benchmark lending rate on Dec. 12. Retail inflation data from the US, India and China will be released, besides GDP numbers from the US, Japan, and UK.

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