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1-Week Market News: What to Expect
- Monday, May 29: The Indian equity markets opened on a positive note on Monday, tracking gains in global markets. The Sensex rose 259.69 points to 54,101.52, while the Nifty gained 82.40 points to 16,415.35.
- Tuesday, May 30: The Indian equity markets ended on a mixed note on Tuesday, with the Sensex closing higher and the Nifty closing lower. The Sensex rose 153.76 points to 54,255.28, while the Nifty fell 18.15 points to 16,397.20.
- Wednesday, May 31: The Indian equity markets opened on a negative note on Wednesday, tracking losses in global markets. The Sensex fell 277.55 points to 54,017.73, while the Nifty fell 87.80 points to 16,310.40.
- Thursday, June 1: The Indian equity markets ended on a positive note on Thursday, tracking gains in global markets. The Sensex rose 364.98 points to 54,382.71, while the Nifty rose 111.45 points to 16,421.85.
- Friday, June 2: The Indian equity markets ended on a mixed note on Friday, with the Sensex closing higher and the Nifty closing lower. The Sensex rose 140.42 points to 54,523.13, while the Nifty fell 17.15 points to 16,404.70.
Overall, the Indian equity markets were mixed for the past week, with the Sensex gaining 274.17 points (0.50%) and the Nifty gaining 12.55 points (0.07%). The markets were volatile throughout the week, tracking gains and losses in global markets. The markets were also affected by domestic factors, such as the release of the RBI's monetary policy statement and the start of the monsoon season.
Here are some of the key market events that took place during the past week:
- RBI releases monetary policy statement: The Reserve Bank of India (RBI) kept the repo rate unchanged at 4.40% and the reverse repo rate unchanged at 3.35% in its monetary policy statement on Wednesday, May 31. The RBI also announced a number of measures to support growth, including a reduction in the cash reserve ratio (CRR) for banks by 50 basis points to 4.5%.
- Monsoon season starts: The monsoon season officially started on June 1. The monsoon is expected to be normal this year, which would be a positive for the Indian economy.
- US markets close lower: The US stock markets closed lower on Friday, weighed down by concerns about inflation and the possibility of a recession. The Dow Jones Industrial Average fell 1.05%, the S&P 500 fell 1.63%, and the Nasdaq Composite fell 2.98%.
