The arrival of wedding season is expected to bring an uptick in various industries such as jewellery, apparel, hotels, and aviation. According to Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, investors are likely to look to economic data, including GDP numbers for the US, China, and India, for market cues in the coming week.
Vinod Nair, Head of Research at Geojit Financial Services, noted that domestic indices traded with a positive bias throughout the week, with the Federal Reserve adopting a cautious stance and muted trends in European and German markets being reflected in domestic markets. Foreign funds were attracted to the emerging market due to declining inflation, cooling job data in the US, and easing US bond yields.
The Indian market experienced some profit booking as investor attention shifted to the primary market, marked by a set of scheduled IPOs for the week. Consumer durables and realty sectors saw increased activity driven by festive demand, while the IT sector performed weakly in response to global data. Despite the RBI’s scrutiny of unsecured lending by NBFCs, the banking index displayed resilience.
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