The Motilal Oswal Global Market Snapshot provides a quick glance at index performances and economy updates from the Indian & global markets.
Click here to view the detailed report for February 2024, Here’s a small preview of the report – https://bit.ly/3uYfz3K
Indian Market Update
- In February 2024, the Nifty Next 50 index stood out as the top performer, boasting a remarkable growth of 6.7%. Meanwhile, the midcap, smallcap and microcap indices experienced declines of 0.3%, 0.6%, and 1.4% respectively.
- The realty sector maintained its upward trajectory and surged by 6.3%, leading as the top performer, while the FMCG index saw a 1.9% decline, marking it as the worst performer.
- Once again, all the factor-based investment strategies yielded positive returns. The Value factor took the lead with a notable increase of 4.4% for the month, followed by the Quality factor with 3.4% gain.
The Consumer Discretionary, Energy and IT sectors were the top three contributors to the overall returns of Nifty 500, resulting in a positive impact of 1.3%.
Global Market Update
- In the US, S&P 500 and NASDAQ 100 both experienced a 5.2% and 5.3% gains respectively in February 2024 with the Information Technology sector once again being the largest contributor to the S&P 500’s rise.
- China led the emerging markets with a robust recovery, achieving an 8.4% growth, while Germany emerged as the top performer among developed markets with a 3.9% increase.
- Crude oil prices surged for the second consecutive month, climbing by 2.8% in February due to expected production cuts by OPEC, rising Red Sea tensions and conflict in the Middle East.
- Gold & Silver prices witnessed a fall of 0.3% and 3.3% respectively. Cryptocurrencies like Bitcoin and Ethereum increased significantly by 43.8% and 46.5% respectively.
Economic Indicators
- India’s retail inflation has slipped to a three month low of 5.1% in January, mainly due to fall in food prices.
- The composite PMI surged to a seven-month high, indicating robust demand across both the manufacturing and services sector.
- FIIs displayed strong net buying activity, totaling Rs. 31,817 crores across equity and debt segments. Notably, equity inflows rebounded to Rs. 1539 crores in February following outflows of Rs. 25,744 crores in January.
- DIIs remained net sellers, totaling Rs. 32,359 across equity and debt segments, with the equity segment receiving an inflow of Rs. 13,938.
