Tejashwi Yadav

During the reported week, there was a modest increase of $140 million in the foreign exchange reserves. Notably, the surge in reserves owes much to the appreciation in the value of gold reserves, which saw a rise of $347 million.

Shanthi Vijetha, Partner, Growth at Grant Thornton Bharat, commented on the stability observed in India's deal market amidst global turbulence. While M&A activity experienced a notable decline in value, PE investments continued their upward trajectory, albeit with reduced figures. Looking ahead, despite short-term volatility, Vijetha expressed optimism in India's strong fundamentals and economic recovery, which are expected to bolster investor confidence.

However, Jefferies suggests that this scenario is poised to change in the coming years as the market's free float increases and certain anomalies in weighting are rectified. Based on historical market performance over the past 15-20 years and considering anticipated new listings, India is projected to evolve into a nearly $10 trillion market by the year 2030. Such a substantial growth trajectory would render it impossible for major global investors to overlook.

The three Indian markets highlighted in the report are Heera Panna in Mumbai, Tank Road in Karol Bagh, New Delhi, and Sadar Patrappa Road Market in Bengaluru. The online platforms from India that made it to the list include IndiaMart, Vegamovies, and WHMCS Smarters. This acknowledgment underscores the significance of robust enforcement against the trade of counterfeit goods to safeguard economies.

The earlier enthusiasm surrounding potential early rate cuts by the US Federal Reserve has waned due to higher-than-expected US inflation and positive job data. This shift has tempered global market sentiments, introducing a note of caution.

All sectoral indices, except for oil & gas and power, closed in positive territory, with auto, bank, and metals sectors each witnessing a 1% rise, contributing to the overall market uptrend.

The global support to the market from the US market where the S&P 500 is close to all-time high is significant, he said.

However, some exhaustion is noticed in mid and smallcaps after the stretched rally of last two months.

Nifty recovered smartly from lower levels on Thursday following rebound in global markets and closed with gains of 105 points (up 0.5 per cent) at 21,255 levels, while the Sensex gained 358.79 points (0.51 per cent) to close at 70,865.

According to Motilal Oswal Financial Services, the unlisted corporate sector is not only much bigger than its listed counterpart, the latter has moved in a different direction vis-a-vis the former as per MOFSL estimates. What is more interesting is that while the financial position of listed sector has improved markedly in the post-Covid period (FY20-FY23), this is clearly not the case for the aggregate corporate sector. It means that the financial position of the unlisted corporate sector has weakened in the post-Covid period.