A week in review of key drivers of Indian and global market performance

Asha Bajaj
3 min readFeb 10, 2024
Image Credit: Pixabay

#MarketUpdate, #IPO, #MarketPerformance, #RBI, #WeeklyMarketUpdate

Mumbai/IBNS: This week’s market update delves into the latest developments at both domestic and international markets and trends from February 03, 2024, to February 09, 2024, which drove investor sentiment.

The Indian market traded in a range with volatility for the week. The HSBC service PMI data for January came out around 61.8, ahead of estimates of 60, said Pantomath Capital Advisors in weekly IPO commentary.

The growth in service PMI is due to rising export and domestic new business orders, it said.

India will soon unveil a new scheme to incentivize electric vehicle purchases and expand charging infrastructure in line with the finance minister’s interim budget announcement to accelerate eco-friendly transportation.

The program aims to spur localization of EV components while also boosting sales. Manufacturers sell discounted EVs and then seek the subsidized amount from the center. It’s positive for the Auto & Auto ancillary sector, it said.

The RBI came out with their monetary policy decision. It kept all policy rates unchanged as expected. The repo rate, MSF, and SDF rates stand around 6.5%, 6.75%, and 6.25% respectively. It…

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Asha Bajaj

I write on national and international Health, Politics, Business, Education, Environment, Biodiversity, Science, First Nations, Humanitarian, gender, women