Dear Colleagues
I am pleased to attach the Economy / Market Snapshot covering all the major events in April, 2018.
Financial Year 2018-2019 started with a bang for the Indian Markets. Market went up by 6% with the Sensex crossing 35,000 mark again. All sectoral indices went up last month with IT leading with 12%, FMCG 10%, Pharma and Auto 8% and Banks 5%. This is despite the fact that the FII’s pulled out Rs.5,500 crores from the Equity market and Rs.10,000 crores from the Debt market. With the Crude prices going up to $ 75 a barrel (8% up from last month) and the FII’s selling, Indian Rupee peaked to Rs.66.66 against US Dollar. Domestic Institutions had put in Rs.9,500 crores in the Equity market and 25,000 crores in the Debt market which helped the market to go up. US Markets were neutral while London shot up by 6%.
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I am pleased to attach the Economy / Market Snapshot covering all the major events in February, 2018.
After touching the peak in January, market fell in February; Indian markets fell by 5% last month. Long Term Capital Gain proposal in the budget was seen as a negative measure. Nirav Modi’s issues with Punjab National Bank and the Rotamac matter brought the bank index down by 8%. Pharma and Auto indices lost about 4%. FII’s sold about Rs.10,800 crores in the equity market while Domestic funds had pumped in Rs.13,200 crores. Indian Rupee climbed to at Rs.65.27 against 1 US Dollar. Global markets also fell last month with Hong Kong and China losing about 6%. Dow lost about 4%, Nasdaq lost about 2% and FTSE lost about 4%. Gold went up by 1%, while Silver lost about 3%. Crude was down by 5%. Results of the elections held in Meghalaya, Tripura and Nagaland are expected soon.
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