I am pleased to attach the Economy / Market Snapshot covering all the major events in October, 2017.
Indian market is at the peak now. Nifty is at 10,400 levels and Sensex is at 33,600 levels. Quarterly results of Corporates have come in and in most of the cases the results are not in line with the market expectations. Announcement on recapitalization of capital of PSU Banks lifted the share prices of PSU Banks significantly and currently the Bank Nifty is trading at 25,500 levels. Indian markets went up by 6% last month with all the sectors going up by 3% to 6%. Despite the rise of the indices, FII’s invested only 2,000 crores in Equity market and Mutual funds invested only Rs.8,600 crores. Together they have invested around 45,000 crores in the debt market. This shows the nervousness on their part to invest further in the equity markets. Globally the stock markets went up. US markets went up by 4% while the Japan market went up by 8%. Indian Rupee is currently at Rs.64.75 against the US Dollar. Gold and Silver prices went down by 1% while Crude went up by 6%.Read more