As the wedding season kicks off in India, a wave of prosperity is poised to sweep through various sectors, propelling industries like jewellery, apparel, hotels, and aviation into the spotlight.
The festive air and celebratory spirit are anticipated to drive significant traction and economic growth in these interconnected fields. According to businessinsider.in, Head – Retail Research, Motilal Oswal Financial Services, Siddhartha Khemka, said
“Next week, we expect some momentum in market to return as investors will take cues from various economic data including GDP numbers for US, China & India,”. Vinod Nair, Head of Research at Geojit Financial Services, said domestic indices traded within a range throughout the week with a positive bias.
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The Fed reserve adopted a cautious stance and the muted trend in European and German markets was also echoed in domestic markets. Declining inflation and recent cooling job data in the US, along with easing US bond yields, attracted foreign funds to the emerging market.
The broader Indian market experienced some profit booking as investor attention shifted to the primary market, marked by a set of IPOs scheduled for the week. Sectors such as consumer durables and realty took the lead, driven by a strong rebound in festive demand. However, the IT sector showed subdued performance in response to weak global data. Despite the RBI’s scrutiny of unsecured lending by NBFCs, the banking index demonstrated resilience this week, he said.
