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Global markets drive Indian markets lower

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The Indian stock markets ended the week in red as benchmark indices witnessed selling pressure for 4 days of the 5-day trading week. Global market sentiments were the main driver of stock markets at home. Chinese tech giants have seen a massive selloff.

Moreover, virus resurgence in parts of Europe and dwindling economic fundamentals in other parts of the world weighed in on investor sentiment.

Quote of the week

A business that makes nothing but money is a poor business.
Henry Ford

u0022A business that makes nothing but money is a poor business.u0022 ~ Henry Ford Click To Tweet

Markets Update

Nifty50

15,763.05

0.59% ▼

Sensex

52,586.84

0.73% ▼

Nifty500

13,664.25

0.17% ▼

Nifty Bank

34,584.35

1.28% ▼

The Big Picture

India’s fiscal deficit, which is the difference between government revenues and expenses, narrowed to ₹2.74 lakh crores in April-June 2021-22 from ₹6.62 lakh crore in the corresponding period of the previous fiscal year.
India’s infrastructure output, which measures the performance of industries like steel, coal, natural gas, electricity, etc. rose by 8.9% year-on-year in June 2021.
As per RBI data, the value of commercial bank deposits and commercial bank loans grew by 10.7% and 6.5% respectively in the fortnight ended July 16th, 2021.
Foreign Exchange Reserves in India stood at $611.15 billion on July 23rd from $612.73 billion in the previous week.

smallcase of the week

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Inside smallcase

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And that’s all for this week. Take care, and happy investing! 🙂

Abhishek Jadon

VP, Investment Products at Windmill Capital.

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