In this week’s episode of The Week That Was, we break down key global and domestic market developments:

• Global Markets: Fed Chair Kevin Warsh’s debut Jackson Hole speech kept a rate hike on the table, triggering a bear-flattening in US yields, a stronger dollar, and a pullback in gold, while the S&P 500 ended marginally lower.
• India Macro & Economic Data: Industrial production moderated but stayed resilient, asset monetisation progress was strong, and forex reserves climbed to a record USD 729 billion.
• Domestic Equities & Sectors: The Nifty and Sensex fell for a third straight week on Middle East and Fed-driven caution, even as Metals, IT, and Pharma led sector gains and broader markets outperformed.

Speaker:

Michelle Castellino

Investment Strategist

In this week’s episode of The Week That Was, host Michelle Castelino breaks down key global and domestic market developments:

• Global Markets: The US Treasury announced plans to double its long-term debt buyback operations to at least $4 billion per operation, following a brief spike in the 30-year yield above 5.3%. The move offered mild relief to bond markets and the dollar, though its overall impact is expected to stay limited.
• India Macro & Domestic Equities: Domestic activity data showed a mixed picture, with core industries growth moderating even as the unemployment rate eased to a four-month low. Indian benchmarks fell for a second straight week, with the Nifty and Sensex both lower, pressured by rising crude oil prices and escalating Iran-US tensions. IT and FMCG led sectoral declines, while Metals, Realty, and Banks held up better.
• Bonds & Gold: Indian bond yields rose over the week amid renewed inflation concerns, while gold extended its rally.

Speaker:

Michelle Castellino

Investment Strategist

In this week’s episode of The Week That Was, host Michelle Castellino breaks down key global and domestic market developments:

• ​Global Markets: Global equities ended the week on a positive note, supported by lower-than-expected US CPI inflation data and easing recession concerns, which fueled strong gains across tech and growth sectors in the US and Europe.
• ​India Macro & Economic Data: Domestic economic indicators signaled continued resilience, highlighted by cooling retail inflation figures and steady industrial output performance.
• ​Domestic Equities & Capital Flows: Indian benchmark indices maintained upward momentum, driven by widespread buying across IT, banking, and consumer sectors. Foreign Institutional Investor (FII) inflows turned net positive, supporting local bond yields and market stability.

Speaker:

Michelle Castellino

Investment Strategist