Global Stock Market Index: 21st Jan ’24 Weekly Recap

The global indices once again displayed a mixed performance throughout the week, with the US market showing strength, and European and Asian markets faced challenges in gaining positive momentum, resulting in a negative close for the week. The market brushed aside concerns about rising crude prices last week as prices stabilized this week. Furthermore, the markets were largely influenced by localized factors.

A snapshot of the major world market indices this week

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	1.01	0.67
S&P 500	1.16	1.09
Nasdaq	1.58	2.14
European Markets
FTSE	0.04	-2.14
CAC	-0.40	-1.25
DAX	-0.07	-0.89
Asian Markets
Nifty 50	-0.23	-1.96
Nikkei 225	1.38	1.09
Straits Times	0.40	-1.24
Hang Seng	-0.54	-5.76
Taiwan Weighted	2.57	0.96
KOSPI	1.32	-2.07
SET Composite	0.33	-2.19
Jakarta Composite	-0.35	-0.19
Shanghai Composite	-0.48	-1.72

World Stock Market Index: US Markets

The US markets showcased a strong performance during the week amid a surge in demand for AI, semiconductor, and technology stocks. Also, stronger job growth data supported the market. However, the market sentiment was somewhat affected by rising treasury yields, and an indication by Fed officials suggesting a potential rate cut in Q3, against the current expectation by May.

Dow Jones

Dow Jones edged higher this week, aided by rising prices in large tech stocks, resulting in a 0.67% weekly gain. On Friday, the index rose 1.01%.

S&P 500

The index, which tracks America’s largest companies, rose to record highs on Friday, fuelled by strong performance in tech stocks and rising economic expectations. On Friday, the index rose 1.16%, bringing the week’s overall gain to 1.09%.

Nasdaq

The tech-heavy index showcased a strong performance during the week, finishing as the top global exchange in terms of gains. The index increased by 2.14% during the week.

World Stock Market Index: European Markets

Multiple factors like rate cut delays, the ECB’s hawkish stance, a slump in UK retail sales, the resilient technology sector, and corporate earnings contributed to the mixed performance of the European market this week.

FTSE

FTSE, the UK’s primary index traded with mixed sentiment during the week. The country recorded a big drop in retail sales in December- the largest monthly fall since January 2021, which spooked investors and increased speculation of a possible mild recession in the country. The index concluded the week with a loss of 2.14% over the previous week.

CAC

CAC, the French stock market index dropped by 0.4% on Friday and ended the week with a loss of 1.25%, performing similarly to its European counterparts.

DAX 

On Friday’s session, the market was mostly stable and closed with a marginal loss of 0.07%, showcasing resilience amid weak market sentiment and macro data. As compared to the previous week, DAX registered a drop of 0.89%.

World Stock Market Index: Asian Markets

Overall, the Asian markets traded in red during the week, barring Japan and Taiwan. Corporate earnings affected the market movement, but weak economic data from China affected the overall market sentiment. China’s GDP growth hit 5.2% in 2023, meeting the government’s official target. But, growth momentum remains protracted amid the property crisis, fall in exports, sluggish consumer and business confidence, and rising elderly population.

Nifty 50

Nifty 50 was open for trading on Saturday for a special session, in which the index closed down by 0.23%. And, on a week-on-week basis, the index was down by 1.96%.

The Indian market during the week was largely affected by corporate earnings and also witnessed profit booking following a good performance by the IT sector major and weak global market cues.

Nikkei 225

Japan’s stock market was the star performer this week among all its Asian peers. At the start of the week, the Nikkei 225 broke above the 36,000 mark for the first time in 34 years, powered by gains in shippers and financials. On Friday, the index jumped by 1.38% to close the week with a gain of 1.09%.

Straits Times

Straits Times or STI, Singapore’s primary index was positive during Friday’s session with gains of 0.4%, helping the index to recover some of its losses during the week, and closed the week with a loss of 1.24%.

Hang Seng

Hang Seng was the worst performer among its Asian as well as global peers. Weak investor sentiment and Chinese economic data led to a huge weekly fall of 5.76%. On Friday, the index dropped by 0.54%.

Taiwan Weighted

With strong buying from FIIs, the index traded in the green zone on Friday, helping it to post a weekly gain of 0.96%. In Friday’s session, the index was up by 2.57%.

KOSPI

Despite the index closing with a gain of 1.32% on Friday’s session, KOSPI concluded the week with a loss of 2.07%. It was the sharpest fall since late October the previous year. The decline in technology stocks along with Hyundai Motor resulted in the fall.

SET Composite

Thailand’s primary index lost 2.19% on a week-on-week basis, while on Friday’s session, it gained 0.33%.

Jakarta Composite

This Indonesian index was mostly stable during the week, reporting a weekly marginal loss of 0.19%. In Friday’s session, the index lost 0.35%.

Shanghai Composite

Weak economic sentiment across China continued to have its effect on this Shanghai-based, with the index down by 1.72% on a week-on-week basis. On Friday, it was down by 0.48%.

Wrapping Up

The past week has seen a mixed performance, with the United States leading the market mood. In the coming week, corporate earnings are expected to continue to influence market movement. In this mixed landscape, investors must carefully evaluate global and local market factors in order to make informed decisions.

*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.