The domestic equity benchmarks concluded the week on a positive note. For the week ending Friday, the benchmarks experienced declines on one of the four trading days, resulting in a small recovery of the first week’s fall. The Nifty Mid-Cap and Nifty Small-Cap indices also increased.

The Nifty closed above the 24,500 level. Key indices SENSEX and NIFTY rallied up to 1 percent this week, driven by smart gains in IT, consumer durables, and realty shares. Domestic inflation data, released this week, also came as a breather to stock markets. Over the week, the Sensex increased by 730 points, or 0.9 percent, and the Nifty 50 index jumped by 173 points, or 0.7 percent.

The Nifty Mid-Cap index zoomed by 0.8 percent, and the Nifty Small-Cap index soared by 0.1 percent. After strong US job data eased recession fears, investors will now focus on Fed Chair Jerome Powell’s speech at the Jackson Hole Symposium for more cues on a rate cut. Market sentiment has improved in the yen carry trade, which is likely to reduce market volatility. The focus will be on value stocks in sectors like FMCG, IT, pharma, and telecom.

IT shares were among the top gainers this week following easing recession fears in the US. The top 5 IT stocks rallied between 3 percent and 5 percent.