Domestic markets reach record highs.

Another choppy week for the domestic markets. Nifty and Sensex reached record highs during the day to settle flat, by the day’s end. This week, the broad market Index Nifty 50, gained 2.3%, outperforming the Mid and Small cap indic[es as the Nifty Midcap 150 registered a gain of 0.9% whereas Nifty Small Cap 250 fell by (-) 1.1%.

Most of the sectoral indices were positive this week. Nifty PSU bank, Nifty Metals and Nifty Auto were the top performers, gaining 5.9%, 5.7% and 3.5% respectively. While Nifty Media, Nifty IT lost the most by falling (-) 3.0%, (-) 1.6% respectively.

US markets closed higher on Wednesday as Fed chairman, Jerome Powell suggested that lowering interest rate to its 2% target ‘is not assured’. During the week, S&P 500 (US) Index^, Dow Jones and NASDAQ fell by (-) 0.6%, (-)1.1% and (-) 1.5% respectively. Despite the rally in real estate stocks, FTSE^ Index was flat and registered marginal fall of (-) 0.4%. Nikkei 225, Kospi and Hang Seng fell by (-) 0.8%, (-) 2.2% and (-) 0.7%, while Shanghai Composite showed marginal gains of 0.1%.

Other Markets:

Brent crude prices rose to $ 82.19

The rupee fell slightly to settle at Rs 82.72 against the US dollar.

Gold prices went up slightly to settle at Rs 64,867 per 10 grams.

The 10 Yrs G-Sec was at 7.03% 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 07, 2024. ^ data for the week (Fri – Wed)

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