Weekly Market Outlook: 25-Nov to 29-Nov | India Infoline
The week of November 22, 2024, was a positive one for the Indian stock market. Both the Nifty and Sensex showed gains of 1.59% and 1.98% respectively. Foreign Portfolio Investors (FPIs) withdrew $388 million from Indian equities during the week, adding up to total outflows of $14.4 billion since October 2024.
Let’s take a closer look at how the key sectors performed during this week:
The Nifty Realty sector was the star performer with a whopping 6.26% increase, followed by Nifty Automobiles, Nifty Consumer Durables, Nifty IT, and Nifty FMCG, which all saw gains over 2%.
Unfortunately, not all sectors fared well. The Nifty Oil & Gas and Nifty Energy sectors experienced losses due to the uncertainty in the global oil market amid tensions between Ukraine and Russia.
Overall, out of the 20 sectoral indices, 18 showed gains, which can be credited to a Friday rally. The week’s average return for all sectors was 1.37%, with the top 10 sectors delivering 2.53% and the bottom 10 sectors delivering 0.21%.
Despite the market tensions, there were some positive developments. The ruling NDA combine scored a significant win in Maharashtra, indicating continued support for the reform process. The mega IPO of NTPC Green Energy also had a positive reception.
Looking ahead to the coming week, there are some key triggers to watch out for:
Key dividend record dates for companies like IPCA Labs, Sun TV, and Polyplex are scheduled. The market will also be monitoring updates on the Adani group’s response to allegations by the SEC and DOJ.
Important economic data releases are expected, including India’s Q2 GDP data and core sector growth numbers. The US will also release data on GDP and inflation, providing insights into the global economic situation.
With IPOs continuing to attract investor interest, the equity flows into India remain strong, despite some volatility in secondary markets.
As we move into the next week, keep an eye on these triggers and developments to stay informed about the market trends and potential opportunities.
