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November 25-29, 2024
📈 Resilience and Recovery: Markets Eye Consumption and Macro Data
The Indian economy is turning the tide, with private consumption and agriculture leading the recovery, according to the RBI's State of the Economy report. However, foreign investors remain cautious due to expensive valuations and global uncertainties, redirecting funds to other regions like China.
Domestically, market volatility persists with factors like elections, geopolitics, and poor corporate earnings contributing to uncertainty. Meanwhile, the recent Adani saga has shaken investor confidence. Despite these challenges, domestic investors continue to anchor the markets, while key promises in the BJP’s Mahayuti manifesto could spur optimism in real estate, infrastructure, and consumption sectors.
Stock markets are likely to cheer the potential harmony between states and the center as BJP and its allies hold power in more states now than they did in 2019. Some specific promises made in the Mahayuti manifesto is likely to boost both blue-chip indices like Nifty 50 and Sensex, as well as individual stocks in real estate, infrastructure, and consumption space when the markets open for trade on Monday.
📅 Key Events This Week
Day | Event | Details |
|---|---|---|
Monday, Nov 25 | Earnings: Sagility India | Financial results expected from Sagility India. |
Japan Leading Economic Index Final (Sep) | Japan’s final index reading for September; initial estimates show improvement to 109.4. | |
Tuesday, Nov 26 | Earnings: Siemens | Siemens to report its financial performance. |
US New Home Sales | October sales data to reveal trends in the US housing market after September’s rise. | |
Wednesday, Nov 27 | US FOMC Minutes | Details of Fed’s deliberations on interest rates and inflation from the last policy review. |
US Initial Jobless Claims | The latest unemployment data for the week ending November 23 will be released. | |
Thursday, Nov 28 | ECB General Council Meeting | ECB will provide insights on inflation, rate-cut signals, and macroeconomic outlook. |
Friday, Nov 29 | India GDP Growth Rate (Q2) | September quarter GDP data to show if growth rebounds post-election spending slowdown. |
India Fiscal Deficit (Oct) | A key metric to gauge the financial health of the economy. |
📊 Observations and Market Sentiments
Consumption Rebound: Private consumption and agricultural recovery are providing a much-needed boost to economic growth.
Investor Shifts: FIIs remain hesitant, reallocating to China, while domestic investors continue to support the markets.
Global Watch: Economic releases from Japan, the US, and the Eurozone will offer key insights into global economic health.
GDP Focus: India's Q2 GDP print will be crucial in assessing if the economy can regain speed.
Stay Informed, Stay Ahead 🚀
😊Thank you for subscribing to our Weekly Stock Markets Rundown. Stay tuned for next Saturday.
Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.
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