Stock Market Weekly Updates Financial News

📊 Stock Market Weekly Updates Markets this week

Let’s take a look at how the stock markets performed this week. We’ve got the numbers for the Nifty index, which represents the Indian stock market.

• Monday: The market started the week at 19,512 points.
• Tuesday: Things got a bit better on Tuesday, as the market rose to 19,690 points, marking a 0.91% increase.
• Wednesday: Wednesday brought more good news, with the market climbing to 19,811 points, a 0.62% increase.
• Thursday: However, the optimism didn’t last, and on Thursday, the market dipped to 19,794 points, showing a small 0.09% decrease.
• Friday: The week ended on a slightly lower note at 19,751 points, with a 0.22% decrease.

Now, let’s see how this week’s numbers compare to the previous week’s end:

• SENSEX 🇮🇳: The SENSEX in India stood at 66,282.74, showing a 0.44% increase.
• NIFTY 🇮🇳: The NIFTY index ended the week at 19,751.05, indicating a 0.50% increase.
• GOLD 🥇: Gold prices were at Rs 58,748, which saw a substantial 4.03% increase.
• SILVER 🥈: Silver prices were at Rs 70,563, with an impressive 5.56% increase.
• DOW JONES 🇺🇸: Across the seas in the USA, the DOW JONES index stood at 33,631.14, marking a 0.67% increase.
• NASDAQ 🇺🇸: The NASDAQ index closed the week at 13,574.22, with a strong 1.06% increase.

Also Read Stock Market Daily Updates

Now, here are some quick highlights from the week:

📈 Economic Ups and Downs

• India’s trade deficit hit a 5-month low of $19.37 billion in September.
• The nation’s palm oil imports surged by 29% year-on-year, reaching 90.80 lakh tonnes from November 2022 to September 2023.
• Foreign exchange reserves dipped by $2.166 billion, resting at $584.742 billion for the week ending October 6, as reported by the Reserve Bank of India.

🏏 Cricket in the Olympics

• The International Olympic Committee has given the green light for cricket to be part of the 2028 Los Angeles Olympic Games.

💹 Economic Indicators Stock market

• India’s retail inflation (Consumer Price Index) was at a 3-month low of 5.02% in September.
• Industrial output (Index of Industrial Production) saw remarkable growth of 10.3% in August, the highest since June 2022.

🚄 RapidX

• India’s eagerly awaited rapid rail train, RapidX, is set to be inaugurated next week, promising faster and efficient transportation.

🛵 3-Wheeler Sales Surge In Stock Market

• Sales of 3-wheelers in the first half of this financial year soared to 5.33 lakh units, a remarkable 65.66% year-on-year increase, as reported by FADA.

📈 SIP Investments on the Rise

• SIP (Systematic Investment Plan) investments in September 2023 reached an all-time high of Rs 16,420 crore, up from Rs 15,814 crore in August. The number of SIP accounts stood at 7.12 crore.

🛰️ Indian Space Economy

• The Indian space economy is expected to reach $44 billion by 2033, representing approximately 8% of the global share, according to the Indian National Space Promotion and Authorization Centre.

💰 Royalty Rates

• The government has approved royalty rates of 3% for lithium and niobium and 1% for Rare Earth Elements (REEs).

📶 Telecom Investments

• Telecom companies have invested Rs 2,419 crore under the Production-Linked Incentive (PLI) scheme to date, as per Telecom Minister Ashwini Vaishnaw.

💰 Richest Man Of Indian

• Mukesh Ambani is now India’s richest person, leaving Gautam Adani behind, as reported by the Hurun India Rich List for 2023.

📊 Demat Accounts on the Rise

• The number of demat accounts increased to 12.97 crore in September, marking a 26% year-on-year rise. Approximately 30.6 lakh new demat accounts were opened during the month.

🏙️ Urban Unemployment

• India’s urban unemployment rate decreased to 6.6% in the first quarter of 2023-24, down from 6.8% in January-March.

💼 Record Non-Life Insurance Revenue

• India’s non-life insurance companies achieved their highest-ever revenue in September, with gross premium underwritten rising by 29.1% year-on-year to Rs 29,476 crore.

This week has seen some fluctuations in the stock market, as well as a range of economic developments in India. As always, it’s important to keep an eye on these indicators and trends for a better understanding of the economic landscape.