Equity Market Update
- Equities witnessed a decline in the first half of August 2024 owing to a global sell-off triggered by weakening US macros and unexpected monetary tightening by the Japanese central bank. Markets rebounded over the course of the month, reaching new all-time highs, supported by strong performances in sectors like IT, pharma, and FMCG.
- The BSE Sensex and Nifty 50 rose steadily by 0.8% and 1.1% respectively, while the BSE MidCap and BSE SmallCap indices rose even more sharply by 0.9% and 1.3% respectively. FIIs made net equity purchases of Rs 7,320 crores, while DIIs recorded net equity purchases of Rs 48,279 crores.
- On the BSE sectorial front, the leading performers in August 2024 were BSE HC (up 6.6%), BSE Teck (4.6%) and BSE CD (4.4%). The laggards include BSE PSU (down 3.7%), BSE Realty (3.6%), BSE CG (3.3%).
Past performance may or may not be sustained in future and is not a guarantee of any future returns, and should not be used as a basis of comparison with other investments. Index performance does not signify scheme performance