Markets recovered last week's losses and Nifty 50 ended above 16,000 on Friday closing.
April 2022 inflation numbers came in at 7.79%, the highest since May 2014. In an attempt to curb inflation, government cut petrol and diesel prices by Rs. 8 and Rs. 6 respectively.
US markets also had an extremely volatile week with S&P 500 down 2.8% and Nasdaq down 3.75% in the week.
Key events to watch out for next week are release of quarterly U.S. GDP numbers. The numbers will reflect the impact of the Russia-Ukraine crisis on economies and earnings.
All sectors ended in green except IT. Nifty IT fell 3% during the week following the trend in U.S tech stocks. Valuations in the tech industry are falling rapidly, primarily the new-age tech stocks that are non-profitable.
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