Weekly market update, Jan 17, 2025

Domestic benchmark indices declined this week after IT stocks tumbled on mounting worries about earnings growth and persistent foreign outflows from domestic equities. However, easing retail inflation and strength in select heavyweight stocks helped limit the pace of the decline. On a weekly basis, the NSE Nifty 50 fell 1.01%, while the BSE Sensex fell 0.98%. Broader indices, the BSE Midcap closed 1.08% lower, while BSE Smallcap declined around 0.78%. On sectoral front, this week, eight sectors declined and four advanced outs of the 12. The NSE PSU Bank rose the most, and the NSE IT underperformed other sectoral indices.

Analysts expect that Investors will monitor key market triggers in the fourth week of 2025, including the next set of December quarter earnings (Q3FY25) , Donald Trump’s inauguration as US President, domestic and global macroeconomic data, foreign fund outflows, crude oil prices and other global cues.

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