Indian equity benchmarks wrapped up a choppy week on a cautious note. The Nifty 50 slipped from about 25,001 at Monday’s close to 24,751 by Friday, a ~1.0% decline. Likewise, the Sensex fell roughly 0.9%, ending around 81,451 on Friday compared to 82,176 on Monday.Broadly, the market oscillated around flat as investors mulled mixed cues (from corporate earnings to global trade news).
Weekly Top Nifty 50 Gainers
Several large-cap stocks bucked the flat trend. Financials and industrial names led the pack. IndusInd Bank (₹826.75) was among the week’s strongest performers, rising about +2.7%. Similarly, State Bank of India (₹814.00) gained ~+2.1%. HDFC Bank (₹1,941.50) and engineering major L&T (₹3,672.00) also saw modest rallies. Realty/retail play Trent (Titan’s sponsor group) closed the week up ~1.8% at ₹5,657. The table below highlights these leaders (stock prices are the Friday closes, with weekly % change):
| Stock | % Change (week) | Friday LTP (₹) |
|---|---|---|
| IndusInd Bank | +2.68% | 826.75 |
| State Bank of India | +2.09% | 814.00 |
| HDFC Bank | +0.73% | 1,941.50 |
| Larsen & Toubro | +0.46% | 3,672.00 |
| Trent Ltd. | +1.76% | 5,657.00 |
Mid- and Small-Cap Indices
The broader market indices outperformed. The Nifty Midcap-100 index jumped about +1.5% on the week, reflecting solid demand for mid-sized companies. Small-cap stocks also held up well, bucking the minor sell-off in large-caps. (For context, on Friday the BSE SmallCap index actually posted a small gain as investors rotated into riskier plays.) By contrast, the headline Nifty and Sensex were fractionally down. Overall, the resilience in mid/small-caps suggested that broader sentiment was reasonably stable, even as large-caps took a breather.
Key Market Drivers
A variety of factors influenced markets this week. On the positive side, the Reserve Bank of India’s announcement of a record ₹2.69 lakh crore dividend to the government provided a fiscal boost. Additionally, reports of a possible US-India “mini” trade deal in early June lifted hopes of smoother trade ties.The rupee also gained slightly as the US dollar eased, reflecting lower global dollar demand Foreign institutions continued buying (in part due to softening US 10-year yields), buoyed by expectations of strong domestic Q4 GDP numbers and a potential RBI rate cut.
On the negative side, concerns about slowing domestic activity and global tensions weighed on sentiment. India’s April core sector growth (at +0.49%) was weaker than expected, reinforcing growth worries. Geopolitical and policy hiccups cropped up: U.S. moves like a proposed remittance tax and tariffs on Indian-exported iPhones stirred anxiety, along with a recent ban on some foreign students joining Harvard. These issues clouded the otherwise-rosy trade outlook. Globally, markets also remained cautious as investors awaited key data: US PCE inflation figures and Fed meeting minutes later this week, plus China’s official PMI over the weekend. In summary, markets were torn between domestic catalysts (RBI news, earnings) and cross-border uncertainties (trade and policy), leading to a mixed, range-bound trading range.
Gold and Silver Prices in India
Precious metals saw only small moves. India’s 24-karat gold price was around ₹9,764 per 10g on May 26 and closed Friday at about ₹9,731, a slight ~-0.3% week-on-week decline. Silver (99.9%) traded from roughly ₹89,500/kg down to ₹89,200/kg over the same period (about -0.3%). In short, gold/silver in rupee terms were nearly flat, edging off midweek peaks before firming late. Internationally, spot gold hovered near ~$3,330/oz, dipping on eased US-EU trade fears.
Sentiment and Newsflow
Domestic and global news heavily swayed sentiment. Economists and strategists pointed out that positive domestic events – like the RBI dividend windfall – countered headwinds from trade frictions. For example, Moneycontrol commentary noted that US tariffs and court rulings kept investors on edge, even as hopes for a limited trade deal lingered. Investors also tracked the growing pipeline of IPOs (several large public offerings are set to begin soon), and treated Fed policy updates as critical.
Overall, domestic sentiment was buoyed by government revenues and robust Q4 earnings in some sectors, whereas caution lingered around global trade and monetary policy cues. Analysts cited the need to watch upcoming Indian GDP data and central bank guidance as the next big triggers.
MCX Commodities Snapshot
The Multi Commodity Exchange (MCX) futures also had a mixed week. According to market reports on May 28, MCX Gold futures eased ~0.8% (to ₹95,143 per 10g) and MCX Silver slipped 0.5%. Among base metals, copper futures rose 1.4% (to ₹860.15/kg) while zinc fell about 1.6%. Aluminum was modestly up (+0.5%), and lead was slightly down (–0.6%). In energy, MCX crude oil prices were lower (₹5,191 per barrel, down 1.2%) amid news of potential OPEC+ supply increases and mixed US demand signals. By contrast, MCX natural gas rallied sharply (+4.0% to ₹289.90) as supply concerns (including bans on Venezuela exports) tightened the market.
In short, commodity markets echoed the caution in equities – safe-haven gold and crude were steady-to-lower, while industrial metals saw divergent moves.
Stay tuned for next week’s market insights and analyses.
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Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investors should conduct their own research or consult a financial advisor before making investment decisions.
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