The Motilal Oswal Global Market Snapshot provides a quick glance at index performances and economy updates from the Indian & global markets.
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Indian Market Update
- In June 2024, all broad-based indices posted positive returns, with the Microcap 250 leading the way with an impressive gain of 11.6%.
- All sectoral indices posted positive performances, with the IT sector rebounding from its prolonged slump to lead with a return of 11.7%.
- During the volatile election month, the Low Volatility factor stood out as the best performer, rising by 6.6%.
- All sectors contributed positively to the Nifty 500, with Financial Services, Consumer Discretionary, and IT being the top three, collectively adding 4.3% to its gains.
Global Market Update
- In the US, the S&P 500 and NASDAQ 100 continued its positive performance, delivering returns of 3.5% and 6.2%, respectively.
- Taiwan continued to be the best emerging markets with a growth of 11.5%, while Brazil stood as the worst performer with a fall of 4.5%. France was the worst performer in the developed markets segment and witnessed a fall of 7.7%.
- Crude oil prices increased by 5.9% in June, following the surge in global demand, geopolitical tension in the Middle east and seasonal weather patterns.
- Silver lost its luster, experiencing a 6% decline, while gold held steady without significant change.
- Bitcoin and Ethereum both fell by 10.6% and 10.2% respectively.
Economic Indicators
- Monetary policy actions have consistently driven down annual retail inflation in both the US and India.
- Both FIIs and DIIs remained net buyers, capitalizing on the volatility of the election month by deploying a total of Rs. 56,986 crores across equity and debt segments.
- Unemployment hit a seven-month peak at 8.9%, spurred by a notable increase in rural joblessness.
