Weekly Recap: Nifty ends volatile week with marginal gains; Media, Pharma indices gain

Indian equities extended its sideways trading into third consecutive week. The headline index, Nifty ended with a gain of just ~0.16% at the end of a volatile week. On the indices front, IT, FMCG indices ended the week as among the top losers. On the other hand, Media and Pharma indices ended with decent weekly gain.

According to a data by Care Ratings, India’s employment growth has slowed to 2.8% in 2018-19 from an already low rate of 3.9% in 2017-18, which has been among the factors for the recent GDP slowdown.

Rating agency ICRA expects India’s GDP growth to further slowdown to 4.7% in the second quarter of Financial Year 2020.

On the global front, weekly Jobless claim in America has stood at five months’ high, pointing towards an economic slowdown. A separate data showed that existing home sales in US has risen more than expected in the month of October.

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