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
- During November 2024, the broad-based indices struggled to maintain momentum, reflecting economic uncertainty and mixed economic signals.
- Among sectoral indices, IT emerged as the top performer with a 6.8% gain, followed by Defence with a 5.7% rise, while the Energy, Metal, and FMCG sectors saw declines of 4.6%, 3.1%, and 2.1%, respectively.
- Strategic indices continued their downtrend, with the Quality index dropping the most by 3.1%, while the Momentum index rose by just 0.02%.
- Nifty 500 remained nearly flat, slipping just 0.01%. Energy, Utilities, and Commodities weighed on returns, while IT, Industrials, and Financial Services provided positive contributions.
Global Market Update
- S&P 500 posted its biggest monthly gain of 5.7% in November, while the Nasdaq 100 surged 5.2%, driven by Trump’s victory fueling a market rally.
- Emerging market indices extended their negative performance, with both China and Taiwan declining by 4.5%.
- Crude oil prices fell 1.8% in November, as demand remained subdued in both Asian and North American markets.
- Gold prices fell 3% in November, lowest in 14 months, while silver saw a sharper decline of 8.6%.
- Bitcoin posted a monthly gain of 33.1% while Ethereum rose by 34.7%.
Economic Indicators
- Q2 real GDP growth rate decelerated to 5.4%, the lowest in seven quarters, while the inflation rate climbed to 6.2% in October, hitting a 14-month high.
- GST Collections climbed to 1.8 lakh crore, marking an 8.5% year-on-year growth.
- US unemployment rate remained steady at 4.1%, indicating a resilient labor market despite signs of weakening.
