Gross Purchases	43,262
Gross Sales	51,943
Net Purchases / Sales	8,681

Gross Purchases	33,911
Gross Sales	31,972
Net Purchases / Sales	1,938

Gross Purchases	78,492.41
Gross Sales	79,239.03
Net Purchases / Sales	746.42

Gross Purchases	45,993.87
Gross Sales	42,630.51
Net Purchases / Sales	3,363.36

Market Recap – Weekly Update (September 9, 2023)

by Kevin Jose

September 11, 2023

Market Recap: Weekly Update

(September 9, 2023)

YTD refers the Returns from January 1, 2023 till September 8, 2023

	Weekly Change	YTD
Nifty 19,819.85	1.57%	INR - 9.47% USD - 9.1%
Sensex 66,598.91	1.69%	INR - 9.46% USD - 9.09%
Bank Nifty 45,156.40	1.39%	INR - 5.05% USD - 4.69%
NASDAQ 100 15,280.23	-2.06%	39.68%
S&P 500 4,457.49	-1.61%	16.1%

Index Valuation and Earning

Index	P/E Ratio	EPS
Nifty 50	22.4	885.2
Nifty Bank	16.4	2755.1
Nifty Financial Services	18.6	1084.4
Nifty IT	27.3	1189.1
Nifty Auto	25.5	632.5
Nifty FMCG	43.1	1201.1
Nifty Healthcare	36.4	264.6
Nifty Pharma	32.2	473.9
Nifty Consumer Durables	65	455.3

Exchange Rates, Brent Crude & Gold

	Closing Price	Weekly Change
USD/INR	83.12	0.47%
EUR/INR	89.09	-0.27%
EUR/USD	1.07	-0.72%
Brent Crude	89.82	3.95%
Gold (USD/OZ)	1,919.16	1.07%
Gold (INR/10G) 24 caret	60,955 Delhi	0.37%

FII and DII Weekly Trading Data

FII

Gross Purchases	103,415
Gross Sales	121,570
Net Purchases / Sales	18,154

DII

Gross Purchases	100,434
Gross Sales	88,995
Net Purchases / Sales	11,439

Key Market Updates

The top five Nifty 50 weekly gainers were Coal India (19.08%), L&T (7.38%), HCL Tech (6.43%), BPCL(5.16%), and NTPC (4.14%).
The top Nifty 50 weekly losers were M&M (1.53%), Axis Bank (1.09%), Eicher Motors (0.87%), Asian Paints (0.66%), and Nestle India (0.15%).
Oil prices spiked as Saudi Arabia, Russia extended 1.3M barrel a day oil cut through December.
Nvidia Corp. on Friday announced separate partnerships with Reliance and Tata group companies to help them develop AI-powered supercomputers, AI clouds and generative AI applications.
Uday Kotak resigns as CEO, MD of Kotak Mahindra bank.

Startup Updates

Online furniture seller Pepperfry raised $23 million in a fresh round from existing investors, institutions, and family offices.
Electric mobility startup Ather Energy raised Rs 900 crore via a rights issue from its existing shareholders—Hero MotoCorp and Singapore’s GIC.
B2B fish and seafood startup Captain Fresh raised $20 million as part of an extended Series C round led by Japan-based SBI Investment and Evolvence Capital.
IPO-bound Ola Electric raises $140M from Temasek and others.
Munters signs an agreement to acquire ZECO and strengthens its market position in India.

Check the last week Market update here: Market Recap (September 2, 2023)

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Cover Image Source: Freepik

India’s Growing Economy and Its Future on the Global Stage

Introduction:

India has witnessed a remarkable economic transformation over the years, and it’s important to understand how this journey has unfolded. Let’s delve into the key aspects of India’s economic growth story.

Economic Transformation: A Surging Economy

India’s economy has experienced impressive growth, surging from $0.3 trillion in 1991 to a substantial $3.7 trillion. This significant expansion in GDP has also translated into a nine-fold increase in per capita income, benefiting millions of Indians.

India GDP (1991 – 2023), Image Source: IMF

Exports Soaring High

India’s exports have skyrocketed, increasing a staggering 43 times. This reflects India’s enhanced competitiveness in the global market. Additionally, the country’s foreign exchange reserves have multiplied by a remarkable factor of 496, indicating a robust and stable economy.

Stock Market Success

India’s stock market performance is another success story, with the Sensex surging by 31 times. These achievements highlight India’s consistent growth in GDP, outpacing many developed nations.

India’s Position on the Global Stage:

Attractive Investment Destination

India’s thriving economic growth has made it an attractive investment destination and a significant global player. The country boasts a robust domestic-driven economy, demonstrating resilience even in the face of global uncertainties.

A Youthful Demographic Advantage

India’s favorable demographic profile, with a majority of the population under the age of 35, supports a vast consumer market and a skilled labor force. Coupled with a high saving rate and rising per capita income, this sets the stage for continued economic growth driven by increased consumption.

Stable Political Environment

India’s stable political climate, marked by a prolonged period of relative stability, enhances its appeal as an investment destination. The government’s pragmatic approach to policy reforms contributes to a favorable environment for investors.

Macroeconomic Strength

Solid macroeconomic conditions, including robust forex reserves, controlled inflation, and a stable currency, instill confidence in foreign investors. Additionally, the central bank’s clear stance on interest rate management adds to India’s attractiveness as an investment hub.

India’s Rising Wealth:

India’s middle class is set to emerge as its largest group by 2047 and also contributes the most to the nation’s income.
India is home to the third-highest number of billionaires in the world, with a collective net worth of approximately 675 billion dollars.
The growing aspirations of common people, including millennials and Gen Z, contribute to the growth of the luxury market in India.
The middle-class population is estimated to reach 102 crore out of the projected total population of 166 crore in 2047, constituting approximately 61 per cent. In contrast, the middle-class population stood at 43.2 crore in 2021.

Manufacturing Capabilities: A Global Alternative

India emerges as an appealing alternative for manufacturing, offering lower labor costs compared to other countries. Diverse sectors such as automobiles, electronics, pharmaceuticals, textiles, and renewable energy showcase India’s robust manufacturing capabilities. Government initiatives like ‘Make in India,’ the ‘China+1’ strategy, and the Production Linked Incentive scheme aim to bolster manufacturing.

Service-Based Industries and Tech Advancements:

India is a hub for service-based industries, offering offshore support to global clients. With a growing number of internet users, India’s talented young workforce enables the delivery of high-value services worldwide. The adoption of digital transactions, such as the Unified Payments Interface (UPI), has driven fintech solutions, financial risk management services, and insurance offerings, expanding India’s influence in the service sector.

The Startup Culture and Innovation:

India’s startup ecosystem has seen rapid growth, boasting numerous successful startups. Initiatives like ‘Startup India’ have cultivated an environment conducive to startups, making India one of the top destinations globally. The government’s focus on innovation-driven sectors supports entrepreneurs and contributes to economic growth.

Conclusion: India’s Global Ascent

In conclusion, India’s remarkable economic growth, expanding manufacturing capabilities, stable political environment, and thriving startups position it as a prominent player in the global economy. With inclusive growth, sustainable development, and technological advancement, India is well-prepared to face future challenges and seize opportunities. Investors worldwide can view India as a promising destination with abundant potential for growth and prosperity. As India continues to strengthen its global presence, it is poised to become a significant pillar of the world economy.

Author: SNIGDHA PARASHAR

	Weekly Change	YTD
Nifty 19,674.25	-2.4%	INR - 8.67% USD - 8.3%
Sensex 66,009.15	-2.44%	INR - 8.49% USD - 8.16%
Bank Nifty 44,612.05	-3.26%	INR - 3.78% USD - 3.46%
NASDAQ 100 14,701.10	-3.03%	35.34%
S&P 500 4,320.06	-2.81%	12.97%

	Closing Price	Weekly Change
USD/INR	83.10	-0.05%
EUR/INR	88.48	-0.24%
EUR/USD	1.064	-0.49%
Brent Crude	92.24	-1.2%
Gold (USD/OZ)	1,925.52	0.08%
Gold (INR/10G) 24 caret	60,900 Delhi	0.2%

	Weekly Change	YTD
Nifty 20,192.35	1.5%	INR - 11.53% USD - 11.2%
Sensex 67838.63	1.36%	INR - 11.5% USD - 11.16%
Bank Nifty 46,231.50	2.09%	INR - 7.55% USD - 7.22%
NASDAQ 100 15,202.40	-1.35%	35.95%
S&P 500 4,450.32	-0.68%	16.37%

	Closing Price	Weekly Change
USD/INR	83.09	-0.04%
EUR/INR	88.69	-0.54%
EUR/USD	1.066	-0.34%
Brent Crude	93.37	3.88%
Gold (USD/OZ)	1,923.9	0.22%
Gold (INR/10G) 24 caret	60,780 Delhi	-0.29%

	Weekly Change	YTD
Nifty 19,435.30	0.86%	INR - 7.35% USD - 7.5%
Sensex 65,387.16	0.77%	INR - 7.47% USD - 7.62%
Bank Nifty 44,436.10	0.48%	INR - 3.37% USD - 3.52%
NASDAQ 100 15,490.86	3.03%	42.61%
S&P 500 4,515.77	2.03%	18.09%

Category	Description
Public Equity	Stocks listed on stock exchanges.
Private Equity	Shares of privately held companies are not easily available in the market. (Less Liquidity)

Sub Category	Market Cap	Associated Risk
Large Cap	Rs. 20,000 crores or above	Comparatively Low
Mid Cap	Rs 5,000 crore and less than Rs 20,000	Medium
Small Cap	Below Rs 5,000 crore	High

Property Type	Description
Residential	Includes land, apartments, flats, villas. etc
Commercial	Includes office spaces, retail outlets, warehouses etc
Agricultural	Agricultural land

Type	Description
Art	Valuable artwork that can appreciate in value.
Watches	Collectible timepieces that retain or increase in value.
Vintage Items	Rare and unique items that appeal to collectors.
Antiques	Valuable antique items with historical significance.
Stud Farm	Luxury equine breeding facility for potential profits.

Market Recap: Weekly Update