Weekly market update, Nov 25, 2022

Indian equity markets extended the winning rally to record high as concerns for aggressive rate hike by U.S. Federal Reserve eased after the minutes of the latest monetary policy review meeting. Further, supportive global cues and decline in crude oil prices also helped to uplift the market sentiments. Key benchmark indices Sensex had hit a fresh all-time high of 62,447 and the Nifty had clocked a fresh 52-week high of 18,534 during the week, and S&P BSE Sensex and Nifty 50 gained 1.02% and 1.12%, respectively. The broader indices outperformed their larger peers, with the mid-cap gauge gaining 1.83% and the small-cap measure gaining 1.57%. Most sectoral indices ended the week on positive note.

Analysts expect that our Q2 GDP numbers and monthly auto sales numbers will dictate trends in the equity market this week. On the global front, the market will keep an eye on data from the US and any further movement of the dollar index and US bond yields. Apart from this, news flow from China will continue to cause some volatility.

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