The Motilal Oswal Global Market Snapshot provides a quick glance at index performances and economy updates from the Indian & global markets.
View the full report here.
Indian Market Update
- In May 2024, the Nifty 50 ended on a flat note, while the Nifty Next 50 continued its impressive performance, delivering a return of 4.1%.
- The metal sector continued its upward trajectory and surged by 6%, leading as the top performer, while the IT sector continued its poor performance with a 2.5% decline.
- All the factor-based investment strategies, except low volatility, exhibited positive returns. The Quality factor took the lead with a notable increase of 7.4%.
- The Industrials, Consumer Discretionary, and Utilities sectors were the top three contributors, collectively resulting in a positive impact of 1.2% to Nifty 500. Financial Services sector, previously the highest contributor, dragged returns down by 0.5%.
Global Market Update
- In the US, the S&P 500 and NASDAQ 100 rebounded from the previous month’s decline, delivering returns of 4.8% and 6.3%, respectively.
- Taiwan led the emerging markets with a growth of 5.3%, while Brazil stood as the worst performer with a fall of 5.9%. However, all the developed markets indices ended on a positive note.
- Crude oil prices decreased by 6% in May, following OPEC+’s announcement of a phased elimination of production cuts over the next 12 months starting in October.
- The gray metal outshone its yellow counterpart again, surging 17.3% on the back of rising industrial demand and ongoing geopolitical uncertainties.
- Bitcoin and Ethereum both rebounded from the previous month’s decline, with Bitcoin rising by 11.3% and Ethereum surging by 24.8%.
Economic Indicators
- Monetary policy actions have led to a consistent drop in India’s annual retail inflation, reaching 4.83% in April 2024.
- FIIs were net sellers with a total outflow of Rs. 12,911 crores across equity and debt segments, including Rs. 25,586 crores in equity outflows.
- DIIs remained net buyers, totaling Rs. 6,143 crores across equity and debt segments, with the equity segment receiving an inflow of Rs. 44,907 crores.
