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 Return | 5-year Return | Index Closure | |
| Nifty | -0.33% | 99.04% | 21782.50 |
| Sensex | -1.00% | 99.94% | 71595.49 |
| Nifty Bank | -0.54% | 70.31% | 45634.55 |
| Nifty Midcap 100 | 0.85% | 194.56% | 48889.05 |
| Nifty Smallcap 100 | -0.05% | 174.28% | 16269.3 |
| Nifty IT | 1.01% | 135.33% | 37699.25 |
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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