Indian stock markets ended the week on a positive note, with major indices experiencing significant gains ahead of the release of Q2 GDP data. On Friday, the BSE Sensex surged by 702.50 points, closing at 79,746.24, while the Nifty index rose by 216.90 points, settling at 24,131.05. Investors were closely watching for economic updates, with a particular focus on the GDP figures for the July-September quarter.
Stock market performance has been volatile recently, driven by a combination of fund outflows, lower-than-expected earnings for Indian companies in Q2, and persistent inflationary pressures. Despite these factors, sectors like media, auto, pharma, and oil & gas led the gains on the day, while PSU banks and real estate stocks saw declines.
The Sensex is still nearly 6,000 points below its all-time high of 85,978 points, highlighting the ongoing challenges in the market. Chief Investment Strategist V. K. Vijayakumar of Geojit Financial Services recommended a “buy on dips” strategy for medium to long-term investors, particularly in large-cap stocks within the financial, IT, capital goods, and telecom sectors.
Meanwhile, foreign portfolio investors (FPIs) are expected to end November as net sellers for the second consecutive month, after a period of buying from April to September. FPIs have sold stocks worth ₹13,079 crore so far this month, although the pace of outflows has slowed, helping the market recover some of its losses.
As December approaches, market participants are also eyeing the Reserve Bank of India’s (RBI) bi-monthly Monetary Policy Committee (MPC) meeting for further insights. Persistent food inflation is expected to delay any potential rate cuts, keeping investors cautious about short-term economic conditions.
Looking forward, the outlook for Indian markets remains uncertain, but long-term strategies focused on quality large-cap stocks may continue to provide opportunities for growth.
(ANI)