Week Gone by 2.1.2025: The market rises for the second consecutive week, with broader indices rallying.
Sumit Poddar
Founder | Chief Investment Officer| Advisory Board AIF CAT II | Smallcase Fund Manager | Startup | Investor | ex TCS, Aditya Birla | AI enthusiast
The market posted modest gains despite weak economic data, with broader markets outperforming indices. Focus shifts to Q3 earnings and economic updates.
The BSE Sensex gained 524 points (0.6%) to close at 79,223.1, while the Nifty 50 rose 191.3 points (0.8%) to 24,004.7.
The Mid-Cap index rose 1.3% to 46,936, while the Small-Cap index jumped 1.9% to 56,116.2.
Economy: India's forex reserves fell by $8.5 billion to $644.4 billion for the week ending December 20. Gold reserves dropped $2.3 billion to $65.7 billion, SDRs declined $112 million to $17.8 billion, and the IMF reserve position decreased by $23 million to $4.2 billion. India’s fiscal deficit hit ₹8.5 lakh crore (52.5% of the target) in April-November, surpassing last year’s 50.7% for the same period. Capital expenditure reached ₹5.1 lakh crore (46.2% of the target), lagging last year’s 58.5%. Total spending stood at 60.1%, slightly above last year’s 59%, while net tax revenue fell to 55.9%, below the previous year’s level.
China's manufacturing PMI for December dipped to 50.1 from 50.3 in November, signaling an economic slowdown. The Caixin PMI also fell to 50.5 from 51.5. Japan's factory activity contracted less, with the PMI rising to 49.6 from 49.0. Singapore's GDP growth slowed to 0.1% in Q4 from 3.2% in the previous quarter. Germany's PMI declined to 42.5 in December from 43.0, and France saw production drop to 41.9, the steepest fall since May 2020.
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#Gainers4week - #Top3
#ITI 29.3% ITI recently has secured various orders, one valued at Rs 4559 crore for the BharatNet Phase 3 project.
#LLOYDSME 21.9% The stock rallied to reach its all time highs backed on heavy volumes.
#SAREGAMA 18.0% Saregama, after being under pressure after dismal Q2 results saw a sharp jump with heavy volumes.
#Losers4week - #Top3
#TRIVENI -10.5% Triveni after reaching its all time highs has seen some profit booking from investors.
#BALAMINES -8.9% The stock has dropped to its all time lows this week and has been on a downtrend since more than a year now.
#CYIENT -7.9% Cyient has been consolidating since Q2 results after the management revised its revenue guidance to be flat which contributed further to the decline.
#Unlisted Equity: Tata Investment Shares Soar 12% As Tata Capital Plans For Rs 17,000 Crore IPO. Unlisted companies where interest levels are high - MSEI, NSE, OYO, PharmEasy, CSK, NSDL, Vikram Solar and HDB Financial services. Get in touch for more.
#Weekahead
The stock market may remain volatile next week as investors await Q3 earnings results, leading to cautious sentiment and reduced buying activity. The battle between FIIs selling and DIIs buying will shape the market direction next week.
India's HSBC Composite and Services PMI (Final) for December will be released on 6 January 2025, followed by India's Fiscal Year 2025 GDP Growth (Preliminary) data on 7 January 2025. Additionally, India's industrial production data for November will be announced on 10 January 2025.
The US ISM Services PMI data for December 2024 will be released on 7 January 2025, along with the Job Openings and Labor Turnover Survey (JOLTS) data for November 2024. The minutes from the latest US Federal Open Market Committee (FOMC) meeting will be released on 9 January 2025.
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Wishing you a Happy New Year filled with financial prosperity, smart investments, and abundant opportunities! May this year bring growth, stability, and success in all your financial endeavors.
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