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  • Anuradha Mishra

Weekly Market Wrap - (week ending 2nd Dec 2023)






" This week Nifty ends at record high "


Indian benchmark equity indices closed higher for the fifth consecutive week on Friday, with the Nifty50 hitting a new record high.


The market capitalization of all listed companies on BSE increased by Rs 1.8 lakh crore to Rs 337.4 lakh crore. The Indian economy expanded 7.6% in the September quarter, faster than the RBI's estimate of 6.5%, led by manufacturing growth.

It was a bulls party today on 1st Dec 2023 in expectation of good GDP data and political stability on the basis of current exit poll. Better-than-estimated India GDP numbers will raise the growth outlook for FY24 and provide cheer for the market to continue its upward momentum.

September quarter added to optimism over the global interest rate outlook, hence bulls are expecting faster-than-expected economic growth in future. The Indian economy expanded 7.6% in the September quarter, faster than the RBI's estimate of 6.5%, led by manufacturing growth.


The Indian rupee closed stronger on Friday and posted its best daily performance in two weeks aided by robust domestic economic data and slight weakness in the greenback. The rupee ended at 83.2875 against the US dollar, higher by 0.13% compared to its previous close at 83.3950

📈: '' Market Update''

The Nifty 50 index covered all deficit of last week and grew by around +437.50 (2.21%) points. It was almost one sided run-up in the market, where all large cap stocks seemed to be in big buying demand.

'' Stock Movement ''

The week we saw good buying in all Adani Group stocks like- Adani Transmission, Adani Wilmar, Adani Gas, Adani Greens etc. All these stocks grew by more than 7% . REC, Gail, LIC, PFC and New India Insurance were some of the popular stocks in this week. New India Insurance was top gainer in two consecutive weeks. As indicated in previous wrap up article, we mentioned the unusual growth in the stock price of New India Insurance. It needs to be tracked

''Market Indices at a Glance''
  • Sensex : 67,481.19 +492.75 (0.74%)

  • Nifty 50 : 20,267.90 +437.50 (2.21%)

  • Nifty Bank: 44,814.20 +332.45 (0.75%)



"Nifty's chart is looking bullish " 📊 '' Nifty 50 has shown good rally this week and there were no sign of fear at all. GDP data and expected election result to indicate stable political situation in India, has triggered this bullish session ! Rupee also got strength on capital account buying support. As mentioned in previous week article, we should keep building positions in good Large cap stocks from NIFTY 50.

Most of the experts and analyst believe that Large Cap is cheaper and attractive as compared to Midcap Stocks. Hence they are issuing profit booking recommendation from Midcap Stocks and Mutual Funds : Read our article on " Switch Out from Midcap Funds"

Conclusion: Market's recent performance highlights the liquidity strength in the domestic market and clearly displays the bent towards Large Cap Stocks. Good GDP data supported by fast growing manufacturing data, stable political situation ahead and robust domestic inflows, we believe that there is no stop for bull run . The week have given a good sign of growth for some excellent trading session this month.










Equity Category

Data as on 1st Dec 2023 (Sorted on 1 Week basis) :


Equity Category

Data as on 1st Dec 2023 (Sorted on 1 Week basis) :










Quote of the week 📢


"Risk never Knocks before coming, you need to spend some part of your profit for Risk protection." — Diwan Sarkar, Bahra Risk Management Company


 

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Stay tuned for further updates 🚀 and analysis on the NIFTY index and other market trends 📢. , Happy investing💰!


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Disclaimer

Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. The NAVs of the schemes may go up or down depending upon the factors and forces affecting the securities market including the fluctuations in the interest rates. The past performance of the mutual funds is not necessarily indicative of the future performance of the schemes. The Mutual Fund is not guaranteeing or assuring any dividend under any of the schemes and the same is subject to the availability and adequacy of distributable surplus. Investors are requested to review the prospectus carefully and obtain expert professional advice with regard to specific legal, tax and financial implications of the investment/participation in the scheme.


This information is for educational purposes only and should not be considered as financial advice. Invest wisely and consult a financial professional for personalized guidance.



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