Nifty and Sensex closed on a positive note last Friday. On a weekly basis, NIFTY lost 0.16% while Sensex fell by 0.27%. Investors are keenly awaiting the outcomes of the RBI MPC meeting this week.
India’s current account deficit (CAD) narrowed to US$ 9.2 billion (1.1% of GDP) in Q1FY24 from US$ 17.9 billion (2.1% of GDP) in Q1FY23 but it was higher than US$ 1.3 billion (0.2% of GDP) in Q4FY23.
Equity Market Summary:
- Dow Jones Industrial lost by 1.35% on a weekly basis while NASDAQ remained flat.
- The US economy grew at an annualized rate of 2.1% in the second quarter of 2023, unchanged from the previous estimate, and compared to an upwardly revised 2.2% growth in the first quarter.
- US PCE rose by 3.5% year-on-year in August 2023 as compared to 3.4% in July.
- US initial jobless claims rose by 2,000 to 204,000 on the week ending September 23rd, well below market expectations of 215,000.
- US Crude oil inventories fell by 2.17 million barrels in the week ending September 22nd, 2023, following a 2.13 million decline in the previous period.
