Weekly market wrap to November 29: Sensex, Nifty gain nearly 1% in volatile week; Media top sectoral gainer

bDespite steep volatillty successful FII inflows with a singular sell-off pursuing 3-day of FII inflow this week, Indian equities ended the week to November 29 connected a affirmative note. For the week, Nifty ended 0.94 per cent higher, portion the BSE 30-share bluechip scale ended with gains of 0.87 per cent higher.

The gains successful the indices came contempt lingering valuations concerns and anemic GDP forecast for Q2 which the Street already discounted for.

Today's rally was mostly attributed to l

arge-cap-driven, broad-based rally successful the home market. Discretionary sectors performed well, benefiting from the festive season. The pharma and healthcare sectors saw renewed growth, supported by beardown net and a moderation successful valuations aft caller corrections, added Vinod Nair, Head of Research, Geojit Financial Services. 

"The marketplace saw immoderate alleviation aft the caller consolidation, aided by an easiness successful geopolitical tensions, expectations of stableness successful authorities spending successful H2FY25, and MSCI rebalancing. The rally was broad-based, portion capex-linked sectors similar infra, superior goods, and industrials outperformed successful anticipation of a surge successful caller bid inflows. Brent crude declined by 4% during the week successful anticipation of reduced tensions successful the Middle East. An easiness successful lipid prices volition proceed to assistance operating metrics of Indian companies successful the coming quarters," added Nair.

Top Nifty gainers and losers

From the Nifty pack, apical gainers were stocks similar Adani Enterprises that gained implicit 10 per cent pursuing the indictment quality earlier this week, followed by different stocks specified arsenic Bharat Electronics, Shriram Finance, ONGC and Adani Ports among different apical gainers which gained betwixt 4-9.6 per cent.

Top losers nevertheless from the Nifty battalion were stocks similar Bajaj Auto (down 5 per cent), HDFC Life Insurance (down 4 per cent), Eicher Motors (down 3 per cent), SBI Life (down implicit 3 per cent and HCL Tech (down implicit 2 per cent)

Top assemblage gainers and losers

Of the cardinal indices, Nifty Media loggest the astir gains of implicit 5 per cent, followed by the Nifty PSU Bank and Nifty PSE which spurted up to 4.7 per cent.

While connected the flip side, sectoral laggards were Nifty Auto and Nifty IT which fell up to 0.8 per cent

Outlook for the week ahead

Exhibiting optimism Nair said, "We expect the prospects of H2 net to stay affirmative owed to a bully monsoon, festival and matrimony season, which could easiness the interaction of net downgrades that happened successful Q2. Investors’ attraction besides turned to US and Eurozone ostentation indicators, which volition power cardinal banks’ December argumentation rates.

Stability successful the marketplace volition beryllium connected the steadiness of the incoming economical information adjacent week. While the marketplace is apt to witnesser immoderate repercussions from the autumn successful Q2 FY25 GDP to 5.4 per cent, helium added.

On the different hand, investors volition beryllium much inclined to enactment connected the upcoming RBI monetary policy. Though the statement shows presumption quo, the probability of a complaint chopped successful February is precocious owed to the subdued maturation successful Q2. Other economical indicators similar work and manufacturing PMI data, car sales, and US occupation information volition besides power investors’ attraction and accordingly signifier the marketplace momentum, added the expert.

Overall experts expect apt consolidation continuing specified that the net drawback up with the valuations.