Global Stock Market Index: 3rd March 24 Weekly Recap

As the rally continued, the global market continued to experience positive sentiment due to improving economic indicators worldwide. Few of the top indices reached new highs during the week due to strong interest from institutional and retail investors in AI-related tech and energy stocks. At the same time, investors remain cautious while closely monitoring the commentary issued by global central banks.

Index	Previous Day Change (%)	WoW Change (%)
US Markets
Dow Jones	0.23	-0.12
S&P 500	0.80	0.95
Nasdaq	1.12	1.73
European Markets
FTSE	0.68	-0.31
CAC	0.08	-0.41
DAX	0.32	1.81
Asian Markets
Nifty 50	1.79	0.88
Nikkei 225	1.87	1.73
Straits Times	-0.19	-1.54
Hang Seng	0.47	-0.82
Taiwan Weighted	-0.16	0.25
KOSPI	-0.38	-0.82
SET Composite	-0.24	-2.20
Jakarta Composite	-0.06	0.23
Shanghai Composite	0.39	0.74

World Stock Market Index: US Markets

Positive inflation data, falling treasury yield, less hawkish Fed, surge in tech stocks, and outperformance in the energy sector are resulting in top indices continue moving higher. Additionally, with the US economy expanding by 3.2% in Q4 of 2023, the foundation for economic stability in the first quarter looks strong.

Dow Jones

Despite resilience and upbeat momentum in the market, the index slightly struggled during the week to continue moving higher. In Friday’s session, Dow Jones saw a gain of 0.23% and ended the week with a minor loss of 0.12%.

S&P 500

The S&P 500 index continues to test new highs during the week as investors bet on a less hawkish Fed and an early rate cut than expected. On Friday, the index was up by 0.80%, concluding the week with a cumulative gain of 0.95%.

Nasdaq

Nasdaq tested new historic highs as the demand for AI-related technology stocks remained strong. It will result in a bullish picture for Nasdaq in the short term. On Friday, the index was up by 1.12%, and on a week-on-week basis, the index witnessed cumulative gains of 1.73%.

World Stock Market Index: European Markets

Despite positive market sentiment in the global market, the European markets struggled to move higher during the week. Growth-related concerns are worrying investors a lot. For the last quarter of 2023, the Eurozone showed zero growth, following a contraction of 0.1% in the quarter before that. Also, inflation is coming down slower than expected, delaying the prospects for ECB rate cuts.

FTSE

Teething issues around the UK economy and falling trade volume to a record five-year low impact the country’s primary stock market index. On Friday, the index gained 0.68%, helping it to reduce the weekly loss to 0.31%.

CAC

As growth is slowing down in the third-largest economy in Europe, the French stock market index continued to struggle during the week. In Friday’s session, the index traded flat with a minor gain of 0.08% and ended the week with a cumulative loss of 0.41%.

DAX 

On the contrary, the German stock market index outperformed other European indices, reaching an all-time high level. A softer-than-expected inflation number is driving demand for DAX-lited stocks. On Friday, the index gained 0.32%, and DAX was up by 1.81% every week.

World Stock Market Index: Asian Markets

As China struggles to support its economy and India leads the growth charge, the Asian markets fluctuated throughout the week in line with expectations. However, the US market is offering support to the market.

Nifty 50

After reporting a stunning GDP growth of 8.4% in the third quarter of FY24, the Indian stock market reacted positively to the development, surging 1.79% on Friday. It helped the index to recover the losses and closed the week with a cumulative gain of 0.88%.

Nikkei 225

Nikkei 225 continues to rally higher due to strong retail and institutional demand. The surge in stocks is supported by strong US economic numbers and improving macros in the country. On Friday, the index was up by 1.87%, which helped wipe out the week’s losses, and ended the week with cumulative gains of 1.73%.

Straits Times

Singapore’s primary stock exchange, Straits Times, was under pressure amid weak economic data. On Friday, the index registered minor losses of 0.19%, and on a week-on-week basis, it recorded a loss of 1.54%.

Hang Seng

After a strong closure the week before, the index witnessed some sell-off momentum during this week. On Friday, the index was up by 0.47%, which helped it to limit the weekly loss to 0.54%. 

Taiwan Weighted

Taiwan’s premier stock exchange, Taiwan Weighted, witnessed a mixed performance during the week and was mostly stable. On Friday, the index registered a minor loss of 0.16%; on a week-on-week basis, it was up by 0.25%.

KOSPI

The KOSPI Composite Index, the premier index in South Korea, saw mixed trading throughout the week due to the absence of any triggers in the domestic market. The index was down 0.82% weekly and 0.38% during the Friday session.

SET Composite

Thailand’s primary index, the SET Composite, extended its losses during the week and was down by 2.20%. In Friday’s session, the index was down by 0.24%.

Jakarta Composite

Indonesian index, Jakarta Composite, was relatively stable compared to its Asian counterparts. The index traded flat on Friday’s session; on a week-on-week basis, it was down by 0.23%.

Shanghai Composite

China’s benchmark index, the Shanghai Composite, held onto its gains from the previous week and was largely stable throughout the week. In Friday’s trading, the index gained 0.39%, and it gained 0.74% week over week.

Wrapping Up

The global market shows promise for further growth, backed by positive economic indicators and investor confidence. While sectors like AI-related technology and energy continue to thrive, investors must remain cautious about various market developments as central banks adjust monetary policies that shape market sentiment.

*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.