SECTORAL STORY IN THE WEEK TO JANUARY 17, 2025
The week to January 17, 2025 saw Nifty and Sensex down by -0.97% and -0.98% respectively. During the week, FPIs were net sellers of $(2,568) Million in Indian equities amidst rising macro concerns. Here is how the 20 key sectors performed in the week.
Sectoral Index |
Weekly Returns |
Index (17-Jan) |
Index (10-Jan) |
Nifty Capital Markets | 3.67% | 3,844.75 | 3,708.75 |
Nifty CPSE | 3.55% | 6,123.90 | 5,914.00 |
Nifty PSU Banks | 3.43% | 6,294.00 | 6,085.10 |
Nifty Metals | 3.13% | 8,521.70 | 8,262.95 |
Nifty Energy | 2.79% | 34,686.10 | 33,743.00 |
Nifty India Defence | 2.33% | 6,400.00 | 6,254.25 |
Nifty Non-Banks | 2.01% | 25,215.25 | 24,717.20 |
Nifty Infrastructure | 1.71% | 8,400.90 | 8,259.95 |
Nifty Oil & Gas | 1.41% | 10,891.70 | 10,740.60 |
Nifty Mobility | 0.21% | 19,183.50 | 19,143.00 |
Nifty Banks | -0.40% | 48,540.60 | 48,734.15 |
Nifty Automobiles | -0.98% | 22,791.10 | 23,017.75 |
Nifty Private Banks | -1.05% | 23,680.05 | 23,931.15 |
Nifty MNC | -1.10% | 27,363.10 | 27,667.70 |
Nifty FMCG | -2.31% | 55,800.85 | 57,117.70 |
Nifty Healthcare | -2.36% | 14,057.75 | 14,397.80 |
Nifty India Digital | -2.40% | 9,223.30 | 9,449.75 |
Nifty Realty | -2.50% | 939.25 | 963.30 |
Nifty Consumer Durables | -2.93% | 39,394.70 | 40,585.10 |
Nifty IT | -5.78% | 42,032.20 | 44,609.50 |
Data Source: NSE
Here are key takeaways from the tabulation of weekly sectoral returns above.
During the week, Nifty VIX edged higher and closed at 15.5 levels. That is likely to result in a sell-on-rises market for the traders in the coming week.
WEEK THAT WAS; THE GOOD, THE BAD AND THE UGLY
Let us first look at the key events that decided the course of the last week. There were two positives in the week gone by. Firstly, the consumer inflation for December 2024 for the Indian economy tapered to 5.22%. The other positive news was from the Q3FY25 results. Reliance announced stellar numbers for Q3FY25 with strong growth across digital, retail, and O2C. Infosys upped its guidance constant currency revenue growth the third time in this fiscal year, clearly hinting at a return of discretionary spending by global companies. Of course, markets are likely to be relatively neutral about US inflation spiking to 2.9%.
On the positive side, merchandise trade deficit for December 2024 fell to $21.94 Billion. With revisions to gold import numbers, the overall deficit is lower by $10.23 Billion for FY25. Amidst a fall in consumer inflation, India saw a spike in WPI inflation to 2.37%, putting additional pressure on the cost structure of Indian companies. Two of the key parameters were unfavourable last week. Rupee further weakened to ₹86.60/$, and even got close to ₹87/$. The other big overhang comes from crude oils prices, which has rallied over 15% in the last two months after the US threatened to tighten and widen oil sanctions on Russia.
Let us turn to big data flows in the coming week; for domestic and global market.
STOCK MARKET TRIGGERS FOR COMING WEEK TO JANUARY 17, 2025
Here are key triggers to keep a watch for in the coming week to January 17, 2025.
Let us finally turn to what all this means for the Nifty and the Sensex in the coming week to January 24, 2025.
PARTING THOUGHTS ON NIFTY AND SENSEX
For the coming week, there are 3 things to keep an eye on.
The undertone of the markets remained under pressure; and that is likely to continue!
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