Weekly Market Snap:
Sectoral Indices: Weekly % Change
| Top Gainers | CMP | % Gain | Top Losers | CMP | % Loss |
|---|---|---|---|---|---|
| CNXREALTY | 612.80 | 4.31 | NIFTYPSUBANK | 5048.95 | -3.24 |
| NIFTYAUTO | 16444.95 | 2.84 | CNXIT | 31807.95 | -1.65 |
| NIFTYCPSE | 3912.30 | 2.59 | NIFTYCONSURDURBL | 29164.8 | -0.60 |
| NIFTYFMCG | 52520.70 | 1.83 | |||
| CNXENERGY | 27201.35 | 1.76 |
Cash Market (Nifty 500)
| Top Price Gainers | CMP | % Gain | Top Price Losers | CMP | % Loss | Top Volume Buzzers | CMP | Vol |
|---|---|---|---|---|---|---|---|---|
| ITI | 271.10 | 41.20 | RAJESHEXPO | 445.60 | -10.33 | ITI | 271.10 | 21.16x |
| MMTC | 74.60 | 26.44 | TRITURBINE | 375.20 | -9.53 | MMTC | 74.60 | 19.89x |
| NAM-INDIA | 394.30 | 17.86 | SWSOLAR | 310.55 | -9.09 | LXCHEM | 282.70 | 17.85x |
| WELCORP | 440.60 | 12.67 | MAPMYINDIA | 2025.00 | -8.51 | SHARDACROP | 442.00 | 11.99x |
| POWERINDIA | 4450.50 | 12.08 | SUZLON | 26.80 | -7.9 | ACI | 649.75 | 9.72x |
Futures Market
| Top Price Gainers | CMP | % Gain | Top Price Losers | CMP | % Loss | Top Volume Buzzers | CMP | Vol |
|---|---|---|---|---|---|---|---|---|
| NMDC | 159.90 | 9.67 | ICICIPRULI | 522.60 | -6.57 | CUB | 137.10 | 5.24x |
| IDEA | 12.00 | 9.59 | BANKBARODA | 203.50 | -5.48 | METROPOLIS | 1558.40 | 5.06x |
| TATAMOTORS | 667.10 | 7.17 | BANDHANBNK | 240.70 | -4.82 | CHAMBLFERT | 291.20 | 4.87x |
| COALINDIA | 307.95 | 7.00 | MPHASIS | 2376.20 | -4.61 | UBL | 1582.65 | 4.75x |
| TVSMOTOR | 1600.90 | 6.64 | VOLTAS | 845.45 | -4.48 | NMDC | 159.90 | 3.42x |
Weekly Market Movement:
In the recent week, the Indian stock market witnessed slight gains for the second consecutive week, with the Nifty closing above 19,750 points. The S&P BSE Sensex increased by 287.11 points or 0.44%, settling at 66,282.74, and the Nifty 50 index added 97.55 points or 0.50%, closing at 19,751.05. The BSE Mid-Cap index rose by 0.71% to 32,305.62, while the BSE Small-Cap index gained 0.86%, closing at 38,184.83.
However, early in the week, the domestic stock market faced a decline due to escalating tensions in the Middle East, causing global market uncertainty. Additionally, a sudden rise in oil prices raised concerns about potential inflation. This resulted in the Nifty falling below 19,550, and the S&P BSE Sensex dropping by 483.24 points or 0.73% to 65,512.39. The Nifty 50 index also lost 141.15 points or 0.72%, closing at 19,512.35.
Economy
On the economic front, India's forex reserves decreased by $3.794 billion to $586.908 billion, according to the Reserve Bank's report. Gold reserves dropped by $576 million to $43.731 billion, and Special Drawing Rights (SDRs) decreased by $74 million to $17.939 billion. The country's reserve position with the IMF also fell by $18 million to $5.002 billion.
The Union Finance Ministry initiated consultations for the Union Budget 2024-25, commencing on October 10, 2023, and continuing until November 14. These consultations involve discussions with various ministries to finalize the Revised Estimates for 2023-24 and the Budget Estimates for 2024-25.
The International Monetary Fund (IMF) projects that India will maintain strong growth of 6.3% in both 2023 and 2024, with a 0.2% revision for 2023 due to better-than-anticipated consumption levels. However, global growth is expected to slow, decreasing from 3.5% in 2022 to 3% in 2023 and 2.9% in 2024, notably lower than the 3.8% average recorded between 2000 and 2019.
In terms of inflation, India's retail inflation, measured by the Consumer Price Index (CPI), declined to a three-month low of 5.02% in September, mainly due to easing food prices. Industrial output, as measured by the Index of Industrial Production (IIP), showed significant growth at 10.3% in August 2023 compared to a 0.7% contraction in August 2022.
