Weekly Market Outlook: 25-Nov to 29-Nov in India
Last week, from November 22nd, to be exact, the Nifty and Sensex were up by 1.59% and 1.98% respectively. Foreign Portfolio Investors (FPIs) took out $388 Million from Indian equities during the week, bringing the total FPI outflows to $14.4 Billion since the beginning of October 2024.
Let’s take a look at how the 20 key sectors performed during this time:
– Nifty Realty was the top performer with a 6.26% increase.
– Other sectors like Nifty Automobiles, Nifty Consumer Durables, and Nifty IT also saw gains over 2.7%.
– However, the Nifty Oil & Gas sector took a hit with a -1.23% decrease, along with the Nifty Energy sector which was down by -1.41%.
Out of the 20 sectors, 18 showed gains, while only 2 sectors showed losses, mainly due to a Friday rally. The oil and energy sectors faced challenges due to rising tensions between Ukraine and Russia impacting oil prices.
The overall average returns for the sectors stood at 1.37%, with the top 10 sectors delivering 2.53% gains, and the bottom 10 sectors only bringing in 0.21%. Nifty VIX saw a spike during the week but ended on a positive note thanks to a Friday bounce.
Looking ahead, key triggers to watch out for in the coming week, ending November 29th, include the release of key economic data like India’s Q2 GDP, fiscal deficit, and core sector numbers, as well as US Q3 GDP and PCE inflation data. Additionally, keep an eye on large-cap stocks following the NDA’s strong victory in Maharashtra, and developments around the Adani group’s legal issues in the US.
