Week Ahead: Macro data, BoE, China policy verdicts, FII activity, global cues among key market triggers this week
Also Read: Nifty 50 to hit 25,816 in 12 months; PL overweight on banks, auto, telecom: ITC, BEML among high conviction picksOn a weekly basis, the BSE benchmark climbed 299.41 points or 0.39 per cent, while the Nifty advanced 175.45 points or 0.75 per cent. The benchmark index's tone was subdued from start to finish, resulting in modest gains for both indices. Sectoral buying and traction in select themes kept traders engaged.
State-run firms and lenders also added 4.94 per cent and 2.5 per cent, respectively, for the week, on hopes of policy continuity after key ministers were retained in the new government's cabinet. Oil and gas stocks gained 3.41 per cent this week. The IT index was the worst weekly sectoral performer with its 1.62 per cent decline, after gaining 8.6 per cent last week.
They jumped one per cent on Thursday on renewed expectations that U.S. interest rate cuts were imminent.The US Federal Reserve kept its key interest rate unchanged in its June policy verdict and scaled back its forecast from three rate cuts to just one this year after an inflation pickup in early 2024. However, US inflation has now eased for two straight months.
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