STOCK MARKET WATCH: Investors will be focusing on various factors in the next week, including the start of a new month, incoming GDP data, manufacturing and services PMI data, auto sales, metal company output statistics, and global trends, particularly the performance of the US markets amid ongoing debt limit negotiations. Markets completed a two-week period of consolidation in the week that concluded on May 26th, rising by about 1 percent. The Nifty 50 outperformed the Sensex.
The Sensex ended the trading day on Friday at 62,501.69, up 629.07 points or 1.02 percent. Nifty 50 finished at 18,499.35, up 178.20 points or 0.97 percent. There was widespread buying across all of the indices.
On weekly basis, The Sensex gained by 588.13 points or 0.95 percent during the week of May 22–26, while the Nifty 50 outperformed with gains of 248.75 points or 1.36 percent.
Further, both foreign institutional investors and domestic institutional investors were buyers throughout the week. foreign institutional investors bought Rs. 3,230.49 crore worth of equities, while Domestic institutional investors surpass foreign investors with an inflow of Rs, 3,482.21 crore.
Analysts said,The benchmark maintained range-bound behaviour in the middle after a strong start, reflecting various global cues; however, a robust rebound in the last sessions altered the mood. As a result, Nifty was able to overcome the obstacle around 18,400 and eventually settled at the week's high at 18,499.30 levels.
Fitch puts US's AAA rating on 'negative watch' as debt ceiling deadline looms
As the RBI moves to increase deposits, bonds in India could rise