Markets snap 2-week winning streak
The Indian stock markets ended the week with losses and major benchmark indices witnessed selling pressure as they ended the week in red. A couple of global as well as domestic developments led to this. Metal stocks saw massive selling pressure after seeing an unprecedented run-up in prices over the last couple of months.
Along with metals, investors booked profits in Financial, Auto as well as IT stocks. Globally, investors were net sellers of emerging market equities (like India) amid concerns that the US may raise interest rates from next year. This led to investors shun risky assets for safer developed market assets.
Quote of the week
u003cpu003eWealth is not about having a lot of money, it is about having a lot of options.u003c/pu003e Click To TweetWealth is not about having a lot of money, it is about having a lot of options.
Markets Update
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The Big Picture
- The Wholesale Price Inflation (WPI) rate in India eased to 11.16% YoY in July 2021, from 12.07% in the previous month and slightly below market expectations of 11.30%.
- Foreign Exchange Reserves in India decreased to $619.37 billion in August 13 from $621.46 billion in the previous week.
smallcase of the week
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And that’s all for this week. Take care, and happy investing! 🙂
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