The primary catalyst for the market's decline was the release of the much-anticipated Consumer Price Index (CPI) data.

Oil prices continued their upward trajectory in the past fortnight, reaching their highest levels since October 2021.

The domestic market experienced a period of volatile trading sessions over the last two weeks, predominantly characterised by upward momentum.

During the past fortnight, major indices of the U.S. equity markets showed positive momentum, closing a quarter marked by strong gains.

Gold and global equities surged to record levels as the first quarter of 2024 concluded positively. This rise was primarily due to central banks' commitments to potential rate cuts

The BSE Mid-Cap and BSE Small-Cap indices, with gains of 2.80 per cent and 2.75 per cent, respectively, outperformed the main indices

The preceding fortnight proved to be exceptionally challenging for the broader markets, which had enjoyed a strong rally over the past year.

An intriguing development has unfolded with the USD 8.5 billion merger between Reliance Industries’ arm Viacom 18 and The Walt Disney Company’s Star India.

Brent crude futures saw a modest decline of 13 cents to USD 81.91 a barrel, while U.S. West Texas Intermediate crude dropped 11 cents to USD 78.04 a barrel. 

The Bank of Japan maintained its supportive monetary policy stance. Governor Kazuo Ueda indicated it was premature to declare the 2 per cent inflation target sustainably achieved, emphasising the importance of wage growth alongside price increases before considering policy changes. 

During the initial week of the fortnight, domestic indices experienced fluctuations, mostly marked by declines, signalling a lack of investor confidence.

In the past fortnight, the focus was on the Federal Reserve, as the market closely monitored the prospects of future monetary policy decisions