The Week that was in Indian Market (5 Feb to 9 Feb)

The Week that was in Indian Market (5 Feb to 9 Feb)

Last week, the Indian financial markets witnessed a turn of events, influenced by both domestic factors and global news. From economic indicators to corporate earnings, investors closely monitored every development that could potentially affect market sentiments. Here’s a recap of how the Indian market weekly performance (5 Feb to 9 Feb). Find out all Indian market weekly news, real estate, IPO, NRI news, and updates in this blog.

Indian Market Weekly Recap

1-week Return5-year ReturnIndex Closure
Nifty Bank-0.54%70.31%45634.55
Nifty Midcap 1000.85%194.56%48889.05
Nifty Smallcap 100-0.05%174.28%16269.3
Nifty IT1.01%135.33%37699.25
Indian market weekly recap (5-Feb to 9-Feb)

Also read: Is India’s GDP $4 Trillion Already? Not yet, But it’s Closer Than Ever

Indian Public Stock Market

  • PM Modi: India to see $67 Bn investments in gas sector in 5-6 years. Natural gas is seen as a transition fuel in India’s goal of net zero carbon emission by 2070.
  • IEA: India to be the largest source of global oil demand growth by 2030 fuelled by industrial expansion & rising of wealthier middle-class keen on mobility and tourism.
  • India eyes $100 billion investment deal with Switzerland, and Norway over 15 years in exchange for easier trade access to the country.
  • India’s forex reserves jumped by ~$6 Bn standing at ~$623 Bn now.
  • 8 fresh companies went for IPO this week, raising ₹4319 Cr.

Indian Mutual Funds Recap

  • Jan 2024– $635 Bn in AUM, new high, up ~4% MoM. 
  • SIP monthly inflow touched a historic high of $2 Bn+, ~7% MoM increase
  • SIP accounts rose by 5 Mn+ to 79 Mn+

Also read: Indian Equity Market Soars: Nears ₹22,000 Cr Mark with 28% Surge!

Indian Startup Ecosystem

  • 39 Indian startups collectively raised $240 Mn. Major allocation to Electric Vehicle and real estate.
  • 59% VC funding surge in India’s energy storage sector in 2023 reaching $9 Bn+, the highest ever.

Also read: India Solidifies Its Position as the Most Preferred Emerging Market: Morgan Stanley

Indian Real Estate Market

  • 20% rise in NRI bookings in GIFT City. Investors from the US, UK, Dubai and Africa looking to make outright purchases.

NRI Corner

SBNRI conducts taxation, investments & repatriation-related sessions regularly to improve awareness of NRI-related topics. 10,000+ NRIs have benefitted from our sessions. Check out our latest AMA on “Uncovering Budget 2024 and NRI/OCI Taxation”

Wrapping Up

The Indian financial markets navigated through a week characterized by volatility and cautious optimism. While certain sectors demonstrated resilience supported by robust earnings and favorable economic indicators, concerns over inflation and global uncertainties tempered overall market sentiments.

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