Equity Market Update
- July 2024 saw markets maintain their upward trajectory, shrugging off budget proposals on capital gains taxes perceived as a negative for investors. There were quite a few positives in the union budget as evident from the affirmative action on consumption, job creation and infrastructure.
- The BSE Sensex and Nifty 50 increased by 3.4% and 3.9% respectively, while the BSE MidCap and BSE SmallCap indices rose even more sharply by 5.4% and 6.1% respectively. FIIs made net equity purchases of Rs 32,365 crores, while DIIs recorded net equity purchases of Rs 23,486 crores.
- On the BSE sectorial front, the leading performers in July 2024 were S&P BSE IT (up 12.9%), S&P BSE Teck (11.2%) and BSE Oil and Gas (10.5%).
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