Wedding Season Boost: Key Sectors Poised for Growth
As the wedding season kicks off, several sectors including jewellery, apparel, hotels, aviation, and related industries are anticipated to witness increased activity and traction. Market experts foresee a resurgence in momentum next week, driven by various economic indicators such as GDP figures for the US, China, and India.
Market Insights and Outlook
Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, predicts a potential uptick in market momentum as investors closely monitor economic data releases. Meanwhile, Vinod Nair, Head of Research at Geojit Financial Services, notes that domestic indices maintained a positive bias throughout the week within a range-bound trading pattern.
Global Market Trends
The Federal Reserve’s cautious stance, coupled with a subdued trend in European and German markets, mirrored the sentiments observed in domestic markets. Factors such as declining inflation, cooling job data in the US, and easing US bond yields have attracted foreign investments towards emerging markets.
Domestic Market Dynamics
While the broader Indian market witnessed some profit booking, investor focus shifted towards the primary market, marked by the launch of several Initial Public Offerings (IPOs) scheduled for the week. Sectors such as consumer durables and realty saw robust performance, fueled by a resurgence in festive demand.
Sectoral Performance
Despite a lackluster showing in the Information Technology (IT) sector due to weak global data, other sectors exhibited resilience. The banking index, in particular, demonstrated strength despite the Reserve Bank of India’s scrutiny of unsecured lending by Non-Banking Financial Companies (NBFCs).
In conclusion, as the wedding season unfolds, sectors poised to benefit include jewellery, apparel, hotels, aviation, and associated industries. While market dynamics may see fluctuations in response to global and domestic economic indicators, certain sectors are expected to maintain momentum driven by festive demand and investor sentiment.
