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Indian Developments
The Indian market opened flat but rebounded into positive territory from previous week declines, driven by sectoral gains, improving valuations, value buying by DII and favorable global cues, despite ongoing global economic uncertainties. Indian markets benefited from a softer US Dollar Index and lower crude prices.
Gold prices and US Dollar Index (DXY) slightly declined from the previous week supported by uncertainty surrounding trump’s tariff decisions.
The Nifty 50, Nifty Midcap 150, and Nifty Small cap 250 indices surged by 1.93%, 3.04%, and 5.48%, respectively, during the week ending March 7, 2025.
Sectoral Developments
Gains were observed among major sectoral domestic Indices with notable upticks in Nifty Metal (8.61%), Oil and Gas(5.33%),Pharma (2.85%), FMCG(2.37%), PSU banks(4.94%), Auto (2.49%) compared to previous week.
Overall, the above sectors drove the market’s positive momentum influenced by both domestic and global factors. While Nifty IT and realty were among the laggards.
Global Developments
Global markets were volatile, with the US experiencing corrections due to concerns over President Trump's tariff policies. The temporary exemption of tariffs on Canadian and Mexican auto goods helped stabilizes global markets. Asian indices like Japan's Nikkei and South Korea's Kospi faced declines, reflecting global economic uncertainties.
U.S. indices experienced significant declines, with the S&P 500 dropping by 2.07%, the Dow Jones Industrial Average falling 1.42%, and the Nasdaq 100 plunging 2.40%. In Asia, Japan's Nikkei slipped by 1.45%, while South Korea's Kospi declined by 1.72%. On the other hand, Hang Sang emerged as the best performing market, surging by 2.3% Meanwhile Sanghai and FTSE Index marginally declined by 0.24% and 0.60% respectively.
Other Markets:
Source: www.nseindices.com; google finance, MCX Gold Prices; www.rbi.org.in; Morningstar and tradingeconomics.com, ccilindia.com, Economic times
Data for week ended on March 7th, 2025.
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