I am pleased to attach the Economy / Market Snapshot covering all the major events in February, 2018.
After touching the peak in January, market fell in February; Indian markets fell by 5% last month. Long Term Capital Gain proposal in the budget was seen as a negative measure. Nirav Modi’s issues with Punjab National Bank and the Rotamac matter brought the bank index down by 8%. Pharma and Auto indices lost about 4%. FII’s sold about Rs.10,800 crores in the equity market while Domestic funds had pumped in Rs.13,200 crores. Indian Rupee climbed to at Rs.65.27 against 1 US Dollar. Global markets also fell last month with Hong Kong and China losing about 6%. Dow lost about 4%, Nasdaq lost about 2% and FTSE lost about 4%. Gold went up by 1%, while Silver lost about 3%. Crude was down by 5%. Results of the elections held in Meghalaya, Tripura and Nagaland are expected soon.Read more