Weekly market update, Jun 14, 2024

Indian equity indices ended the week slightly higher, and stayed in a consolidation phase, taking a pause after the volatile post- election week. On a weekly basis, the BSE benchmark climbed 0.39 per cent, while the Nifty advanced 0.75 per cent. Broader indices outperformed significantly, The BSE Midcap ended 4.41 per cent higher, and the BSE Smallcap climbed 5.06 percent. On sectoral front, it was mixed. The NSE Nifty Realty was the best performer, gaining 5.57 per cent. While the NSE Nifty IT index was the worst weekly sectoral performer with its 1.62 per cent decline, after gaining 8.6 per cent last week.

In the coming week, The Indian stock market will remain shut on Monday June 17 due a public holiday on the occasion of Bakri Id. However, investors will keenly eye any Union Budget-related or government policy announcements which may result in stock-specific action. Domestic and global macroeconomic indicators, foreign fund inflow, crude oil prices, central bank policy verdicts, corporate announcements and global cues will drive market movement in the third week of June.

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