Benchmarks log gains for third straight week

Q2 GDP BOOST SHOULD SUPPORT SENTIMENT IN NEAR TERM

- KISHOR KADAM

THE BENCHMARK EQUITY indices recorded gains of up to 0.56% during the week, marking their third consecutive weekly rise, supported by multiple positive developments on both domestic and global fronts.

Strong Q3 earnings expectations, the possibility of a rate cut by the Reserve Bank of India in the December policy, and positive progress in India-US trade discussions aided the sentiment. Globally, easing of geopolitical tensions amid optimism over a possible end to the Russia—Ukraine war and expectations of a December rate cut by the US Federal Reserve also boosted the market confidence.

On a monthly basis as well, the indices logged gains of up to 2.11% in November, marking their third straight month of advances.