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Home»Blog»Market Weekly: 14th to 18th Aug, 2023
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Market Weekly: 14th to 18th Aug, 2023

Vicky NagarBy Vicky Nagar18 August 2023Updated:18 August 2023No Comments2 Mins Read
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Weekly Market Snap:

Weekly Market Movement:

In the recent trading week, key stock market indices closed with slight losses attributed to concerns surrounding China's demand slowdown and the potential for interest rate hikes in developed economies. These factors, coupled with foreign investors selling shares in local markets throughout the month, contributed to a cautious sentiment prevailing among investors.

During the week ending on August 18, 2023, the S&P BSE Sensex experienced a decline of 0.57%, settling at 64,948.66 points. Similarly, the Nifty 50 index closed at 19,310.15 points, marking a decrease of 0.61% during the same period.

Economic Update:

Moody's rating agency upheld India's BAA3 rating, maintaining a 'stable' outlook for the country's economy. However, Moody's also expressed concerns over the curtailment of civil society and political dissent within India, contributing to an increase in domestic political risk. Additionally, the agency highlighted challenges including India's substantial debt burden and weakened debt affordability.

Amidst trade dynamics, India's merchandise exports continued their declining trend, falling by 15.9% year-on-year in July. Imports, on the other hand, faced a steeper decline of 17% year-on-year during the same period. Notably, India's imports from Russia surged twofold to USD 20.45 billion in the April-July period of FY23, driven by increased shipments of crude oil and fertilizers.

Turning to economic indicators, India's Wholesale Price Index (WPI) inflation remained in negative territory at -1.36% for July. Moreover, the Index of Industrial Production (IIP) indicated a 3.7% year-on-year increase in June, although this growth was slower compared to the previous month's 5.3% expansion.

Market Weekly
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Vicky Nagar
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Vicky Nagar is an equity trader with 5+ years of experience in trading and investing. He has expertise in equity valuation, sectoral analysis, index analysis, and in identifying the market trends. He is a NISM Certified Research Analyst. Formerly a relationship manager at Kotak Mahindra Bank Limited in the Agri-Business Group, he also has teaching experience at KS School of Business Management, Gujarat University, and as an Academic Associate at IRMA (Institute of Rural Management Anand). He holds a BBA (Gold Medalist) and an MBA (Gold Medalist) in Marketing.

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