Quote on Weekly Market Round-off by Shrikant Chouhan, Kotak Securities
Below the Quote on Weekly Market Round-off by Shrikant Chouhan, Kotak Securities
Indian equity markets delivered positive weekly returns amid broader strength in the global equities. Rally in the global markets was supported by the 25 bps rate cut announced by the US Fed. In India, the larger indices like Nifty 50 and Sensex 30 moved higher this week by around 1%. The midcap and smallcap index outperformed the larger peers with BSE Midcap and BSE Smallcap index posting weekly gains of 1.5-2%. In view of positive momentum, almost all the key sectoral indices posted positive returns. BSE Realty index led with gains of 4% whereas the FMGC index was an underperformer with flattish returns. India’s CPI inflation was 2.1% in August, as food prices contracted by 0.7%. The GST rate cuts is expected to keep the inflation trajectory under control in the next few quarters. GST rate cut comes into effect from next week and that is expected to keep consumption and other stocks benefiting from lower GST rate in focus. Markets would continue to look for clarity on the US tariff situation and its impact on economic growth.
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