Week Ahead: Q2 results, FII activity, global cues among key market triggers this week

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Also Read: Over 45 smallcap stocks gain 10-40% as Sensex snaps 2-week losing streak; do you own? On Friday, domestic equity benchmarks Nifty 50 and Sensex ended higher for the second consecutive session amid positive global cues as the risk appetite of investors improved on hopes that the end of monetary policy tightening is near. Nifty 50 closed at 19,230.60, up 97 points, or 0.51 per cent and Sensex closed at 64,363.78, up 283 points, or 0.44 per cent. In the broader market, the BSE smallcap gauge jumped 0.94 per cent while the midcap index climbed 0.71 per cent.

On a cumulative basis, the BSE benchmark jumped 580.98 points or 0.91 per cent while the Nifty climbed 183.35 points or 0.96 per cent. Analysts cited healthy earnings, easing inflation, steady demand and a stable interest rate outlook as factors driving growth in domestic markets. Apart from optimism around the likely end of monetary tightening, the market is also witnessing buying because of some valuation comfort after the recent correction.

‘’The market received a boost from stable domestic macroeconomic PMI and robust corporate earnings from domestic companies. These positive factors helped the market recover from its initial losses during the week. The auto sector faced challenges despite positive auto sales figures, while the mid and small-cap sectors demonstrated noteworthy performance, driven by strong demand and strong economic outlook,'' added Nair.