Weekly Market Update
Domestic equity markets fell for the second consecutive week as key benchmark indices S&P BSE Sensex and Nifty 50 fell 1.01% and 1.02% respectively
The fall in the market was broad-based as the mid-cap segment and the small-cap segment also closed the week in red.
Domestic equity markets fell to heavy sell-off across the sectors as sentiments were dampened following the SEBI’s draft paper that aimed to tighten ultimate beneficial ownership norms for overseas investors with effect from Feb 1, 2024
Muted Q3FY24 earnings of some index heavyweight companies extended the losses further. Sentiments were further dampened following rise in U.S. Treasury yields that attracted the foreign portfolio investors away from domestic markets.
On the BSE sectoral front, S&P BSE Realty fell 4.45% following the drop in investments from U.S. institutions in the domestic real estate market that fell by 39% in 2023 to $1.35 billion amid global uncertainties
S&P BSE Power rose 1.52% after data showed that the country’s electricity generation rose 8.7% YoY in December quarter and average peak demand during the quarter increased 13.8% YoY to 218 gigawatts.
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