I am pleased to attach the Economy / Market Snapshot covering all the major events in August, 2017.
After touching the peak, Indian markets fell last month by 2%. Banks lost about 3%, Auto by 3% and Pharma by 6%. FII’s were net sellers in the equity market to the extent of Rs.13,000 crores while domestic institutions were net buyers in the equity market to the extent of Rs.14,000 crores. US, UK markets went up. In Asia, Hong Kong and China went up but Tokyo and Singapore lost out. Indian Rupee came below the Rs.64 mark and currently at Rs.63.90 against 1 US Dollar. Gold went up by 4% while Silver went up by 3% after the tensions between US and North Korea intensified with war of words. Crude remained at the same levels. The havoc created by Harvey in Texas is the worst ever in US and has crippled life in Houston. In India, the board room battle in Infosys hit all time high with Vishal Sikka resigning from the CEO position. While Infosys lost heavily, the return of Nandan as the Chairman of Infosys is taken well by the market and the share price of Infosys recovered quite well.Read more