Sensex and Nifty ended on high notes, reflecting the performance of global markets. The Nifty finished above 16,200. The market gained ground in four of the five trading sessions last week.

The recent drop in global crude prices has improved the confidence of domestic investors. Weak crude prices help India by boosting growth, the current account deficit (CAD), inflation, and the fiscal deficit.

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The Sensex rose 1,573.91 points, or 2.97%, in the week ending July 8, 2022, to close at 54,481.84. The Nifty 50 rose 468.55 points, or 2.97%, to 16,220.60.

The BSE Mid-Cap index gained 3.64% to 22,655.57. The BSE Small-Cap index rose 3.36% to 25,640.81.

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How equity benchmarks performed on a weekly basis:

Monday, July 4, 2022 

After a tumultuous day on Monday, the domestic stock benchmarks concluded with modest gains. The S&P BSE Sensex, rose 326.84 points, or 0.62%, to 53,234.77. The Nifty 50 index increased by 83.30 points, or 0.53%, to 15,835.35.

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Tuesday, July 5, 2022 

In the midst of significant volatility, the major market indices closed the day with small losses. The Sensex fell 100.42 points, or 0.19%, to 53,134.35. The Nifty 50 dropped 24.50 points, or 0.15%, to 15,810.85.

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Wednesday, July 6, 2022 

On Wednesday, stocks finished with big gains. The Sensex increased 616.62 points, or 1.16%, to 53,750.97. The Nifty 50 rose 178.95 points, or 1.13%, to 15,989.80.

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Thursday, July 7, 2022 

On Thursday, indices finished around the day’s high after making significant gains. The Sensex, rose 427.49 points, or 0.80%, to 54,178.46. The Nifty 50 rose 143.10 points, or 0.89%, to 16,132.90.

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Friday, July 8, 2022 

Following a turbulent session on Friday, the market concluded with slight gains. The Sensex increased 303.38 points, or 0.56%, to 54,481.84. The Nifty 50 increased by 87.70 points, or 0.54%, to 16,220.60.

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What happened in the Global markets:


The seasonally adjusted S&P Global India Services PMI Business Activity Index increased to 59.2 in June from 58.9 in May, the highest level since April 2011 and indicating a rapid rate of increase.

The rise was caused by continued increases in demand as a result of the removal of pandemic restrictions, capacity expansion, and a positive economic environment.

The S&P Global India Composite PMI Output Index was 58.2 in June, down from 58.3 in May and indicating a significant expansion rate.

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The Caixin services purchasing managers’ index indicates that China’s service sector activity increased. As Covid controls were relaxed, the index jumped to 54.5 in June from 41.4 in May.

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The latest au Jibun Bank Japan Services Purchasing Managers’ Index shows that Japan’s services industry grew at its quickest rate since October 2013. The output increased to 54 from 52.6 in May.

Shinzo Abe, Japan’s longest-serving politician and former prime minister, passed away on Friday after being shot while campaigning for a parliamentary election. According to reports, a man opened fire on Abe, 67, from behind with a homemade gun as he spoke on a drab traffic island in the western city of Nara.

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South Korea

Since the Asian financial crisis, South Korea’s inflation rate increased at its quickest rate in June. The consumer price index (CPI) climbed 6.0% year on year in June, according to official statistics released on Tuesday, the fastest rate since November 1998 and above the central bank’s 2% target for the 15th month in a row.

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United States

The US Federal Reserve acknowledged in the meeting minutes that even if it slows the economy, a “more restrictive stance” in policy may be appropriate if inflation doesn’t decline. Fed officials also predicted a rate rise of 50 to 75 basis points at the July meeting.

The S&P Global US Services PMI rose to 52.7 in June from a preliminary reading of 51.6 but fell from 53.4 in May.

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New orders for US-made items surged more than expected in May. The Commerce Department said on Tuesday that manufacturing orders increased by 1.6% in May after increasing by 0.7% in April.

According to the Institute for Supply Management, the pace of increase in US manufacturing activity fell more than predicted in June. According to the ISM, the manufacturing PMI fell to 53.0 in June from 56.1 in May.