Weekly market update, Aug 23, 2024

Domestic equity indices extended their winning streak for a second consecutive week supported by mostly favourable cues amid improving global sentiments. Global market sentiments improved following the better-than-expected US economic numbers. On a weekly basis, the Nifty added 1.15% and the Sensex rose 0.81%. Broader market indices, the mid-cap index gained, around 1.96% and small-cap index gained 3.39% outperforming large-caps. All major sectors, except real estate, participated in the rally, with metals, FMCG, and financial services leading the gains.

In the last week of August, Analysts expect that investors will eye upcoming domestic and global macroeconomic data, India’s economic growth numbers, foreign fund inflow, crude oil prices, and global cues.

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