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Indian Developments
The Indian stock markets exhibited a mixed performance during the week, reflecting broader global uncertainties. In India, gold prices soared to around ?88,050 per 10 grams, reflecting strong global trends. The crude oil market has experienced volatility due to mixed signals from global economic indicators and geopolitical tensions. The overall market sentiment remained cautious as foreign institutional investors continued to sell off equities, contributing to a risk-averse environment.
The Nifty 50 ended the week marginally lower, closing down by 0.58%, While the Nifty Midcap 150 and Nifty Small cap 250 indices saw positive performance, rising by 1.82% and 1.25%, respectively, compared to the previous week.
Sectoral Developments
Performance of sectoral domestic Indices exhibited mixed results. Major downturns were Nifty Auto(2.55%), healthcare(1.52%), IT(1.86%), bank(2.11%), Pharma(2.05%) and FMCG(1.96%). In contrast, Nifty Metal, Nifty Energy, Nifty Realty and Oil and Gas experienced significant gains of 5.16%, 3.34%,1.57% and 2.25% respectively compared to last week.
Overall, the downturn was primarily driven by FII selling, global economic concerns, sector-specific weaknesses and rising oil prices.
Global Developments
Global indices have posted gains, the market environment remains influenced by external economic pressures and geopolitical uncertainties, leading to varied performances across different regions
European indices with many markets poised for their eighth consecutive weekly gains. The Heng Seng Index was the best performing market and closed with an increase of 4.14%. Nikkei Kospi and the Shanghai and FTSE Index were marginally up by 0.26%, 0.02%, 0.85% and 0.17% respectively. While The S&P 500, Dow jones and Nasdaq 100 declined by 0.43%, 1.01% and 0.48% respectively amid strong U.S. trade policies and inflationary concerns.
Other Markets:
Brent crude prices increased marginally to around $ 75.87 per barrel.
The rupee depreciated to 86.7 levels against the US dollar on the back of RBI intervention.
The Gold spot price stood at ~Rs 88,050 per 10 grams.
The 10 Year Benchmark G-Sec yield closed at 6.71% this week.
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 Feb 21st , 2025
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