Indian Stock Market Report: Week 2, February 2024
The RBI maintained the status quo on interest rates, but its commentary on inflation left investors cautious.
The Indian stock market witnessed a volatile week, starting with gains and ending with losses across major indices. Global cues and the RBI policy announcement played key roles in influencing market sentiment.
Key points:
- The RBI maintained the status quo on interest rates, but its commentary on inflation left investors cautious.
- Private banks and FMCG stocks performed poorly, impacting overall market sentiment.
Here is a summary of the performance of Investmint models for this week:
Leaders and Laggards
- The 'BTST' and 'Quick Short' models were the best performers, yielding +6.80% and +4.03%, respectively.
- On the other hand, 'Trending Ten' and 'Alpha Ally' were among the underperformers, with -3.55% and -1.60% returns, respectively, in the same period.
As we conclude this week, we exercise caution and maintain a mildly bearish to sideways stance until we witness a clear closing above 22000 in Nifty 50.
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.
