Weekly Stock Market Outlook & What's Ahead: 30 November 2024


 

Hey everyone! Let’s dive into the market action from last week and what’s ahead. The Indian markets have been quite dynamic, and there’s plenty to keep an eye on this week. 

Market Overview

Last week, the Sensex shot up by 1,961 points, and the Nifty rose by 557 points, but it wasn’t all smooth sailing. The markets faced some turbulence due to inflation concerns and expectations of slower rate cuts, which caused short-term dips. Global markets offered some relief, with easing geopolitical tensions and strong inflation data from Japan driving positive sentiment.

Despite the volatility, the markets showed resilience. The broader sentiment was driven by strong earnings and some positive global cues, especially in the US and Europe.

Key Events to Watch

Now, here’s what you need to watch this week:

a) Monday, December 2: The Property Share REIT IPO opens, priced at ₹10 lakh to ₹10.5 lakh per unit. We also get the India Manufacturing PMI final reading for November, and Euro Area Unemployment will be steady at 6.3%.

b) Wednesday, December 4: We’ll see the India Services PMI showing growth, along with the US Services PMI, which has been showing surprise increases.

c) Thursday, December 5: The US Initial Jobless Claims will be released, giving us fresh insights into the labor market.

d) Friday, December 6: The RBI Monetary Policy Decision is expected to draw attention with talks of a potential rate cut, and India’s Forex Reserves data will reveal more on external sector health."

Closing & Outlook

Overall, this week’s market will be driven by economic data, the RBI policy decision, and IPO developments. Stay tuned, because these updates could bring significant moves in the markets.

Need help navigating these updates? Reach out to Financial Friend for expert financial advice and personalized planning. Stay informed and keep investing smartly!

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