Week Ahead: Auto sales, F&O expiry, Q3 GDP data, global cues among key market triggers this week
ending with a gain of nearly a per cent. After the initial rise, mixed global cues combined with profit taking in select heavyweights capped the momentum. Global indices surged higher as the positive momentum was largely influenced by the tech rally following US chipmaking giant Nvidia's steady rise in market valuation after earnings, which also buoyed sentiments in Indian markets.
The domestic benchmark indices, Nifty and Sensex, continued to oscillate in a narrow range till the end and finally settled at 22,212.70 and 73,142.80 respectively. On the sectoral front, the majority ended in the green wherein realty, FMCG and metal were among the top performers. Also Read: Q3FY24 Review | Nifty 500 firms deliver 25% YoY growth; BFSI, oil & gas shine: IOC, HDFC Bank among top 5 However, the broader indices failed to match the move and ended on a flat note.
The Nifty 50 and BSE Sensex gained 0.78 per cent and one per cent, respectively, for the week, despite falling 0.02 per cent each on Friday. Despite a volatile week amid mixed global cues, the benchmark Nifty 50 index hit record highs in all five sessions, buoyed by a rise in heavyweight financials. The broader, domestically-focussed small-caps shed 0.12 per cent this week, while mid-caps added 0.30 per cent, both underperforming the benchmarks.
"The domestic market paused momentarily after reaching another record high earlier in the day, driven by positive signals from global markets. Notably, the capital goods and industrial sectors showed strength, supported by advancements in manufacturing and services,'' said Vinod Nair, Head of Research, Geojit Financial Services. ‘’As the earnings season winds down, the market is eagerly awaiting new catalysts however rallying on the
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