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This week was a week of new records after Indian as well as Global indices soared to new highs. Domestic Indices reached record highs on account of better-than-expected GPD numbers. India’s GDP for Dec-23 quarter grew at 8.4% aided by strong manufacturing and construction activities. Nifty 50 started strong this week and ended with a gain 0.6% after experiencing a mid-week volatility. While Nifty Midcap 150 and Nifty Small Cap 250 were marginally down by (-) 1.0% and (-) 0.7 % respectively.
Domestic sectoral indices were a mixed bag of performance this week. Nifty Metal, Nifty Consumer Durables and Nifty Auto were the top performers, gaining 2.0%, 1.6% and 1.2% respectively. While Nifty Media, Nifty Healthcare and Nifty IT were at the bottom losing (-) 6.7%, (-) 3.1% and (-) 1.4% respectively.
In Japan Nikkei also closed at a record high. On weekly basis, the US indices closed flat, after touching record highs this week. S&P 500 (US) Index^, Dow Jones^ and NASDAQ lost (-) 0.1%, (-) 0.4% and (-) 0.02% respectively. FTSE^ Index was also slight negative and ended by (-) 0.46%. The Asian Indices showed a mix performance. Kospi and Hang Seng were negative and lost (-) 1.4% and (-) 0.8% respectively. While Nikkei and China Composite Index gained 1.6% and 0.7% respectively.
Other Markets:
Brent crude recorded slight increase to close $ 83.22.
The rupee rose slightly to settle at Rs 82.88 against the US dollar.
Gold prices went up slightly to settle at Rs 62,442 per 10 grams.
The 10 Yrs G-Sec was at 7.06% compared to its last Friday close of 7.11%.
Source: www.nseindices.com; google finance, MCX Gold Prices; www.rbi.org.in; Morningstar and tradingeconomics.com
Data for week ended on March 01, 2024. ^ data for the week (Fri – Thu)
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