Weekly market update, Feb 07, 2025

The Indian benchmark indices, the Nifty 50 and Sensex extended gains to second week, and ended 0.33% and 0.46% higher, respectively. Market participants parsed the Reserve Bank of India’s Monetary Policy Committee statement after the rate-setting panel cut the repo rate. A rate cut aimed at reviving the slowing economy is a positive indicator. However, yields edged higher as investors were disappointed by the absence of anticipated liquidity measures. The broader indices, the BSE MidCap and SmallCap ended 0.39 and 0.13% higher, respectively. On sectoral front, On NSE, seven sectors advanced, and five declined out of 12. The NSE Nifty Energy declined the most, while the NSE Nifty Pharma rose the most.

Analysts expect that the coming week is set to be dynamic for global and Indian markets, Investors would track a host of macroeconomic data announcements scheduled during the week, including inflation numbers, and also monitor global market trends, and trading activity of foreign institutional investors. The ongoing quarterly earnings announcements and the rupee-dollar trend would also influence the markets.

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