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The Indian stock market experienced a week of mixed performances, with notable gains in the broader indices. The Nifty 50 index advanced by 1.3%, driven by strong investor sentiment and positive macroeconomic indicators. However, the real highlight was the performance of mid and small-cap stocks. The Nifty Midcap 150 surged by 2.50%, and the Nifty Small Cap 250 outperformed with a remarkable gain of 3.51%. This trend reflects growing investor confidence in the potential of smaller companies to deliver higher returns amid economic recovery.
Among the sectoral indices, the top performers were Nifty IT, Nifty Pharma, and Nifty Health Care, with gains of 4.3%, 3.6%, and 3.1% respectively. The robust performance of these sectors can be attributed to several factors:
Nifty Pharma and Health Care: The ongoing focus on health care and pharmaceutical advancements, particularly in the wake of the pandemic, has driven sustained interest and investment in these sectors.
Conversely, the banking sector underperformed. Nifty Bank and Nifty PSU Bank fell by 0.6% and 0.12%, respectively, primarily due to concerns over rising non-performing assets (NPAs) and tighter regulatory scrutiny. Nifty Consumer Durables also saw a marginal decline of 0.31%, as inflationary pressures and subdued consumer demand impacted the sector.
In the United States, the stock markets saw modest gains. The NASDAQ rose by 2.5%, and the S&P 500 increased by 1.4%, buoyed by positive economic data and investor optimism around continued economic recovery. However, the Dow Jones remained relatively flat with a minor gain of 0.5%, reflecting mixed sentiments among investors regarding future growth prospects and potential interest rate hikes by the Federal Reserve.
The FTSE 100 index in the United Kingdom remained flat, registering a slight increase of 0.94%. This stability comes amid ongoing concerns about the global economic outlook and geopolitical tensions, which have kept investors cautious.
Asian markets exhibited a mixed performance. Japan's Nikkei index surged by 3.3%, driven by a weaker yen and strong corporate earnings reports. South Korea's Kospi also posted a gain of 2.3%, supported by robust export data and positive earnings results. In contrast, China's Shanghai Composite Index fell by 0.6%, reflecting concerns over regulatory crackdowns and slowing economic growth. Hong Kong's Hang Seng index remained largely flat, with a slight gain of 0.46%, amid ongoing uncertainties in the Chinese market.
Other Markets:
Brent crude prices rose at $ 87.35.
The rupee appreciated to settle at Rs 83.50 against the US dollar.
Gold prices inched up to settle at Rs 72,348 per 10 grams.
The 10 Year Benchmark G-Sec yield was at 6.99% compared to its last Friday close of 6.97%.
Source: www.nseindices.com; google finance, MCX Gold Prices; www.rbi.org.in; Morningstar and tradingeconomics.com
Data for week ended on July 5, 2024. ^ data for the week (Fri – Thu) FTSE data as of today 1 pm.
Disclaimers:
The views and investment tips expressed by experts are their own and are meant for informational purposes only and should not be construed as investment advice. Investors should check with their financial advisors before taking any investment decisions.
The word ‘more’ does not imply more returns or assurance of scheme performance.it refers to the additional value provided by the joint venture, as compared to Baroda AMC and BNP Paribas AMC individually.
In the preparation of the material contained in this document, Baroda BNP Paribas Asset Management India Ltd. (“AMC”) (formerly BNP Paribas Asset Management India Private Limited) has used information that is publicly available, including information developed in-house. The AMC, however, does not warrant the accuracy, reasonableness and/or completeness of any information. This document may contain statements/opinions/ recommendations, which contain words, or phrases such as “expect”, “believe” and similar expressions or variations of such expressions that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, etc. The AMC (including its affiliates), Baroda BNP Paribas Mutual Fund (“Mutual Fund”), its sponsor / trustee and any of its officers, directors, personnel and employees, shall not be liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this document in any manner. The recipient alone shall be fully responsible / liable for any decision taken based on this document. All figures and other data given in this document are dated and may or may not be relevant at a future date. Prospective investors are therefore advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequences of subscribing to the units of the schemes of Baroda BNP Paribas Mutual Fund.
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**basis portfolio of the Scheme as on June 30, 2024
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them
**Basis constituents of the scheme as on June 30, 2024
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
*The PRC matrix denotes the maximum risk that the respective Scheme can take i.e. maximum interest rate risk (measured by MD of the Scheme) and maximum credit risk (measured by CRV of the Scheme)
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