Weekly market update, March 28, 2024

Indian equity markets ended the last week of the financial year with decent gains driven by strong domestic flows and broad based buying across sectors. At the weekly close, the Sensex surged 1.10 per cent, while the Nifty 50 climbed 1.04 per cent. The broader markets too ended higher, with the BSE MidCap rising 1.34 per cent and the SmallCap advancing 1.04 per cent. On sectoral front, Most of the sectoral indices were positive this week except BSE IT, ended declining 0.50 per cent.

Indian equity markets will step into the new financial year 2024-25 (FY25) from Monday, April 1, after closing fiscal 2023-24 (FY24) on a bullish note, driven by strong macroeconomic indicators, robust corporate growth earnings, and resilient recoveries in the last 12 months. Analysts expect that investors will eye a host of stock market triggers in the first week of FY25, including the Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI), auto sales figures, fourth quarter company updates (Q4FY24) ahead of results, foreign capital inflow, crude oil prices, and global cues.

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