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Having witnessed a subdued market performance in Sept’17 due to sabre-rattling and dismal GDP data, the benchmark indices witnessed a remarkable gain of ~6% in Oct’17 and made new highs driven by positive domestic factors coupled with visible green shoots in global markets. The benchmark NIFTY and SENSEX posted gains of 5.8% and 6.2%, respectively.
Taking cues from Aug’17, Indian indices continued to oscillate between gains and losses in Sept’17 and ended finally in negative zone with the benchmark NIFTY declining by 1.3% on MoM basis.
Intensifying geo-political tensions, dismal quarterly corporate earnings and subdued domestic headline data kept the Indian indices volatile in Aug’17.
In the month gone-by, the global equity markets continued to witness a record setting binge, as moderate growth and accommodative policy of the central bankers dominated the sentiment of the investors.
Amid volatility in global markets, Indian markets were also volatile and unable to continue the momentum in Jun’17. The benchmark NSE and BSE Indices gyrated between gains and losses during the month and ended 1% and 0.8% lower, respectively.
Indian equity markets continue to scale new highs in the month of May’17 as both the benchmark indices BSE Sensex and Nifty 50 hit a fresh all time high during the month.
Flowing with their global counterparts, the Indian indices started the FY18 on a positive note. The NSE and BSE Index hit all time high of 9,367 and 30,167.09 respectively with gains of 1% each over the previous month.
Despite various global and domestic headwinds, Indian equity market witnessed a strong rally in last fiscal year. Benchmark NIFTY Index delivered 18.5% yoy return in FY17 along with 37% yoy increase in NIFTY MIDCAP 50 index.
Indian market witnessed a strong rally in Feb’17, with the benchmark NIFTY rallying by 4.5% MoM led by (a) relatively lower impact of demonetization across sectors (b) pragmatic Union Budget with focus on improving spending on productive segments;
Indian market witnessed strong rally in Jan'17, as benchmark NIFTY index rallied 4.6% month-on-month (MoM) led by (a) positive surprises by several companies on earning front in 3QFY17
Indian market continues to face challenges in February from both global as well as domestic front as NIFTY decline 7.6% month on month (mom). On global front, the sell-off in the Chinese market and continued weakness in commodity prices has severely dented the sentiment in our market.
The Indian stockmarket could not find enough reasons to build on their October strength. In fact, the newsflow during November remained largely against investor sentiments, which led to the Sensex and Nifty sliding by 1.9% and 1.6%.
The Indian stockmarket ended last month in the positive with the Sensex and the Nifty gaining ground by 1.9% / 1.5% respectively.
Volatility was at a high in the month gone by with the benchmark indices (Sensex / Nifty)gyrating in a ~6.5% range, post which these indices ended soft with a loss of 0.5% / 0.3%.
The headline of our previous newsletter read “Indian market consolidates; awaits next trigger”.Unfortunately, the trigger which emanated was in favor of the bears, which led to the near carnage inglobal stockmarkets, including Dalal Street.
The Indian stock market went into consolidation mode in July, awaiting the next trigger, while simultaneously analyzing the probable challenges on the horizon. Thus, while the Nifty restrained itself within the 8,300 – 8,650 range, the Sensex too oscillated in ~1,200 points range..
The month of June was a very volatile one for the Indian stockmarket. Dictated considerably by short-term news flow, the Indian indices gyrated wildly in a 6 – 11% band depending upon which segment of the market one is looking at.
It was another month of extremely high volatility for the Indian stockmarket, which can be gauged from the fact that the Nifty’s intra-month oscillation during April was at 8%! Notably, the initial fortnight saw the Nifty put on a good 4% weight by mid-April..
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