The local stock market has been witnessing a continuous rise for the last four weeks i.e. one month. There was some pressure on the market during the last week but the upward trend continued on a weekly basis. Now is the turn of many developments affecting the market in the new week. Let’s know how the coming week will be for the market…
So much progress last week.
First of all, if we talk about the last week, the market saw a slight increase. During the week ended November 24, the BSE Sensex gained 175.31 points or 0.26 per cent, while the NSE Nifty gained 62.9 points or 0.31 per cent. The Sensex closed down 47.77 points at 65,970.04 on Friday, the last day of the week. The Nifty slipped 7.30 points to 19,794.70.
Small cap index down
During the last week, small cap and mid cap growth was somewhat restrained. While the blue-chip index rose for the fourth consecutive week, the small-cap index declined by 0.39 percent. Otherwise, on most occasions this year, small caps and mid caps have beaten blue chips by a wide margin. So far in 2023, the small-cap and mid-cap indices have gained 42 percent and 33 percent, respectively, while the Sensex and Nifty have gained 8-9 percent.
The market has risen so much in 4 weeks.
The domestic market has been witnessing gains on a weekly basis for 4 consecutive weeks. Over the past 4 weeks, the Sensex has gained about 2200 points (about 3.50 percent). This is one of the most spectacular continuous rallies on the market.
Starting with the holiday
Talking about the coming week, it just starts with the holidays. There will be no trading in Sensex and Nifty on Monday, November 27, on the occasion of Guru Nanak Jayanti. There will be normal business in the market for 4 days from Tuesday to Friday. In the coming 4 days, the market could be influenced by everything from GDP data to exit polls for assembly elections in states.
An abundance of economic data
During the week, on Thursday 30 November, the official GDP figures for the September quarter are due to be released. Next, S&P Global Services PMI data will be released on Friday, December 1. Since Friday is the first date of the new month, vehicle sales figures will also be out. For this reason, special attention will be paid to auto stocks.
Disclaimer: The information provided here is for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing. ABPLive.com never advises anyone to invest money.
Play election fantasy game, win gadgets worth Rs.10,000.
Also Read: You Can Make Money From Profits This Week, There Are Opportunities To Meet In These Shares