Weekly market update, April 26, 2024

Indian equity markets closed the week on a positive note, and supported by relief from Middle East tensions, coupled with a correction in oil prices, and a bolstered Indian economic outlook fuelled by elevated composite PMI data from manufacturing and service sectors. Key benchmark indices S&P BSE Sensex and Nifty 50 gained 0.88% and 1.23%, respectively. The BSE Midcap and the Smallcap indices also rose this week by 3.96% and 3.98%, respectively. Most of the sectoral indices rose this week.

Analysts expect volatility to continue over the ongoing quarterly results, and quarterly earnings from corporates, auto sales numbers, domestic and global macroeconomic data, US Fed interest rate decision, crude oil prices, and global trends will be major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead.

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