Monthly Updates

Upbeat domestic markets in August Indian equities have traded in a narrow upward channel since the start of August, without a clear catalyst for bulls or bears. Small caps joined the uptrend this month, but Nifty IT continues to be battered. All the other major sectoral indices posted steady, positive gains. Index Monthly Return YTD

Earnings and FIIs drive markets in July Banking and FMCG stocks gained the most in July, while IT stocks started to show some strength despite reporting weak margins for 1Q. Besides liquidity and interest rate expectations, Indian equity markets were driven by earnings data in July. Overall, 1Q FY23 earnings have been largely supportive of

Markets take a toss in June, globally Indian equities faced the brunt of the selloff in emerging markets as all indices except Auto ended the month in the red. FMCG and Autos have fared relatively well since their 52-week peak levels, but IT – a sector that we had originally anticipated to do well this

Summary Markets As of 17th Jun, Nifty 50 is now down 13.2% YTD, while it is fallen 17.8% from its 52-week highs. Nifty MidCap and Nifty SmallCap fared worse – they are down 15.9% and 27.8% YTD, respectively. From their 52-week highs, they are down 22.2% and 31.5%, respectively. The key liquidity driver for the

Markets swoon in April, again Equity markets tumbled across US and Europe in April, due to multiple reasons. First, inflation numbers continued to increase globally – this has a direct effect on consumption levels. Second, the Russia-Ukraine war now looks like it will be a protracted affair – this increases market risk premiums globally, besides

Equity Markets Recover in March While global tensions remain exacerbated, equity markets seem to be pricing in the current situation of the Russia-Ukraine war. Unless Russia escalates the situation by the use of chemical or tactical nuclear weapons, the current situation is a brutal stalemate, with Russia continuing to inflict civilian casualties, but unable to