Weekly Market Snap:
| Sectoral Indices : Weekly % Change | ||||||
| Top Gainers | CMP | % Gain | Top Losers | CMP | % Loss | |
| CNXREALTY | 587.50 | 2.06 | NIFTYFMCG | 51577.90 | -0.05 | |
| CNXIT | 32341.70 | 1.75 | ||||
| NIFTYCONSURDURBL | 29341.65 | 1.36 | ||||
| NIFTYMEDIA | 2286.75 | 0.82 | ||||
| NIFTYCONSUMPTION | 8485.6 | 0.30 | ||||
| Cash Market (Nifty 500) | |||||||
| Top Price Gainers | % Gain | Top Price Losers | % Loss | Top Volume Buzzers | Qty | ||
| GODREJIND | 26.24 | FLUOROCHEM | -6.70 | GODREJIND | 17.51x | ||
| ECLERX | 19.21 | BCG | -5.56 | KPIL | 7.59x | ||
| PCBL | 16.92 | TRITURBINE | -5.41 | METROBRAND | 7.19x | ||
| INFIBEAM | 14.08 | JBMA | -5.35 | ECLERX | 5.80x | ||
| KALYANKJIL | 13.45 | CGPOWER | -5.3 | PNBHOUSING | 5.44x | ||
| Futures Market | |||||||
| Top Price Gainers | % Gain | Top Price Losers | % Loss | Top Volume Buzzers | Qty | ||
| MGL | 8.23 | DALBHARAT | -7.51 | MGL | 6.32x | ||
| GODREJPROP | 7.78 | IBULHSGFIN | -7.25 | SIEMENS | 2.18x | ||
| INDIGO | 6.48 | GLENMARK | -7.24 | MARICO | 2.10x | ||
| BAJAJFINSV | 6.13 | IDEA | -6.01 | BSOFT | 2.05x | ||
| BSOFT | 6.07 | INDUSTOWER | -5.69 | IGL | 1.82x | ||
Weekly Market Movement:
The Indian stock market ended the week on October 6, 2023, on a positive note, snapping a two-week losing streak. The Nifty index held above the 19,650 level, and several positive factors contributed to the improved market sentiment.
Economic Highlights
On the economic front, the World Bank maintained its growth projection for India for the fiscal year 2023-24 at 6.3%. The institution also anticipated robust performance in India's service sector, with a growth rate of 7.4%, and projected strong investment growth at 8.9% for the current fiscal year.
Additionally, the seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) for September was recorded at 57.5, slightly down from August's 58.6. Despite this dip, the reading remained well above the no-change mark of 50.0, indicating a significant expansion in manufacturing activity.
Moreover, India's GST (Goods and Services Tax) revenue for September reached 1.62 lakh crore. This included CGST (Central Goods and Services Tax) at 29,818 crore, SGST (State Goods and Services Tax) at 37,657 crore, IGST (Integrated Goods and Services Tax) at 83,623 crore, and cess at 11,613 crore. After regular settlement, the total revenue for the Centre and States in September amounted to 63,555 crore for CGST and 65,235 crore for SGST. Compared to the same month in the previous year, September's revenue was 10% higher, with domestic transactions witnessing a 14% increase. This marked the fourth instance in the fiscal year 2023-24 when the gross GST collection exceeded 1.60 lakh crore.
Furthermore, the seasonally adjusted S&P Global India Services PMI Business Activity Index surged from 60.1 in August to 61 in September. This indicated a sharp uptick in service sector output, one of the most robust expansions seen in over 13 years. The index's average for the second fiscal quarter stood at 61.1, surpassing the previous three-month period's average of 60.6. The expansion in September's output was attributed to effective marketing, favorable demand conditions, and strong inflows of new business.
