Dear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in May, 2017.
May was an extraordinary month for the markets worldwide. Indian Stock market is scaling the peak almost every session with the Sensex crossing 31,000 and the Nifty crossing 9,600. Bank Nifty is at the peak at 23,400. IT stocks bounced last month with a 6% increase while Pharma stocks were down by 11%. Both FII’s and Domestic Institutions were net buyers in the equity market to the extent of 9,000 crores each. In the last 5 months in 2017, FII’s have pumped in Rs.1,17,000 crores in the equity market. World stock markets were up last month with Dow crossing 21,000 mark and Nasdaq crossing 6,200 mark. Indian Rupee is stable against the US Dollar and is currently at Rs.64.50 for 1 US Dollar. Silver went up by 1.50% while Gold remained neutral. Crude prices came down by 1%.
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