Indian Stock Market Report: January Week 2, 2024
Strong earnings reports from Infosys, HDFC Bank, and other key companies
Market Summary for January 2nd Week, 2024
On Friday, the Indian market roared back to life after a prolonged period of sideways movement that left the index directionless. While it may have been a lackluster week for trend-followers, option sellers found it to be exceptionally rewarding. The surprising upswing on Friday took the market to all-time highs, venturing into uncharted territory again.
Key Events:
- Both Sensex and Nifty surged on Friday, propelled by Infosys earnings and a wave of FII buying, boosting the overall weekly performance.
- Strong earnings reports from Infosys, HDFC Bank, and other key companies offered a much-needed boost, reminding investors of the underlying strength of Indian corporations.
Here is a summary of the performance of the Investmint models for this week:
Leaders and Laggards
Both ‘Alpha Ally’ and ‘Long India’ were the best-performing models, with an impressive returns of +3.09% and 1.70% for the week.
The positive momentum from Friday's rally offer a hint of hope for a potential bullish week ahead.
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Disclaimer : The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.
