Weekly market update, Sep 08, 2023

India’s benchmark stock indices logged their best week in two months. The S&P BSE Sensex rose 1.85% and NSE Nifty 50 was higher by 1.98%, this week. Indian equity markets extended the winning rally as despite weak cues from the global markets. Strong buying in some of the key sectors and stocks followed by robust domestic economic data helped to boost the market sentiments. The broader market indices outperformed larger peers; the S&P BSE MidCap Index was up 3.93%, whereas S&P BSE SmallCap Index was also 2.26% higher. On sectoral front, All sectors advanced this week with Nifty Media, Realty, and Energy rising the most.

Meanwhile, Analysts expect that Investors will eye a host of stock market triggers in the coming week including foreign fund inflow, macroeconomic data, crude oil prices and global cues. Global factors such as the US inflation and the outcome of the ECB meeting will be of significance. On the domestic macroeconomic front, the market will react to some of the key domestic events such as India’s CPI and WPI inflation, IIP numbers, manufacturing output.

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