It looks like the government will be able to meet its revised 5.8% fiscal deficit target for FY24.
Higher PCE inflation and robust GDP dampened CME Fedwatch optimism on rate cuts.
The week saw US dollar index rising again after macro data reduced chances of rate cuts.
The month of March 2024 was sharply better compared to February 2024 and January 2024 in terms of FPI flows.
Kumho Petrochemicals commentary on weakness to persist in phenol, will keep spreads under check for Deepak Nitrite. Insights from Olin, Hanwha suggest weakness to prevail in caustic and PVC; which will hamper Chemplast Sanmar’s earnings.
By close, the Sensex surged by 655.04 points or 0.90%, reaching 73,651.35, while the Nifty rose by 203.20 points or 0.92%, settling at 22,326.90. Among the listed stocks, 1912 registered gains, 1784 saw declines, while 103 remained unchanged.
February core sector bounces, even as previous core sector numbers get upgraded.
FPIs were net sellers of $360 Million this week, and US signals are not exactly dovish.
This week, start-ups raised $243 Million led by Avanse, ShareChat, Aye Finance, Bluestone, KreditBee, Bambrew.
The flexi-cap fund offers a good way to diversify your equity fund across sectors and size.
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