Indian Stock Market Report: Week 4, February 2024
The government announced new infrastructure projects worth billions, boosting investor sentiment.
Following the recovery to 22000 levels last week, the Nifty 50 commenced this week with similar positive sentiments. However, it failed to sustain momentum and instead fluctuated throughout the week. It was a volatile week, unlike any we have seen in quite some time.
Nevertheless, the index ended the week on a positive note, with a return of +0.78%.
Key Events:
- The government announced new infrastructure projects worth billions, boosting investor sentiment.
- Manufacturing PMI remained positive at 55.5, but retail inflation rose to a 6-month high of 6.01%, raising concerns about potential interest rate hikes.
Here is a summary of the performance of Investmint models for this week:
Leaders and Laggards
- The 'High Five' and 'Back Up' models were the best performers, yielding +5.85% and +2.41%, respectively.
- On the other hand, 'Quick Short' and 'Trending Ten' were among the underperformers, with -2.56% and -1.84% returns, respectively, in the same period.
As we conclude this week, we approach the coming week with a cautiously bullish to sideways stance until we see a stable trend.
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.
