Indian Stock Market Report: Week 1, March 2024
Upbeat auto sales figures suggest strong consumer demand in a particular sector.
Indian markets closed the week on a high note, with both benchmark indices reaching new record highs.
Key Events:
- The market sentiment was positive due to a combination of factors that occurred within the same week, including good news from:
- Global Markets: Positive performance in other major stock markets around the world.
- Indian Economy: Release of better-than-expected Q3 GDP data, indicating a strengthening economy.
- Domestic Industries: Upbeat auto sales figures suggest strong consumer demand in a particular sector.
- The allotment for the JG Chemicals IPO was announced this week. Investors could check their application status and the latest GMP (Grey Market Premium).
Here is a summary of the performance of Investmint models for this week:
Leaders and Laggards
- The 'Quick Short' and 'Long India' models were the best performers, yielding +4.47% and +0.34%, respectively.
- On the other hand, 'Back Up' and 'Buy High Sell Higher' were among the underperformers, with -2.79% and -1.84% returns, respectively, in the same period.
As we conclude this week, we approach the coming week with a bullish outlook, focusing on buying opportunities during dips.
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.
