We are upgrading our transaction portal and will be back soon.
Indian equity markets wrapped up the week with positive momentum, driven largely by robust performances in the auto and metal sectors. The Nifty 50 rose by 2%, while the Nifty Midcap 150 posted a gain of 1%. However, the Nifty Smallcap 250 remained nearly flat, experiencing a marginal decline of 0.4%.
Sectoral Performance in India
Sector-wise, performance was varied, with Nifty Auto, Nifty Metal, and Nifty Oil & Gas standing out. These sectors posted impressive gains of 5%, 7%, and 5%, respectively, reflecting strong demand and positive investor sentiment. In contrast, the banking sector underperformed slightly, with Nifty Bank dipping by 0.1% and Nifty Private Bank falling by 0.3%.
Wall Street Ends Higher
In the U.S., Wall Street saw a positive close for the week, driven by a surge in semiconductor stocks and easing concerns about the labor market, as jobless claims data provided reassurance. The S&P 500 gained 1%, the Dow Jones rose marginally by 0.3%, and the Nasdaq outperformed with a 1.3% gain.
Global Markets: Strong Performances Across Asia and Europe
The FTSE index in the UK also ended higher, as falling oil prices boosted energy stocks, creating optimism in the market.
In Asia, Japan's Nikkei climbed by 6%, fueled by investor interest in semiconductor stocks amid expectations of strong chip demand and support from a weaker yen, which boosted exporters. Hong Kong’s Hang Seng saw a spectacular rally, gaining 13% after Chinese President Xi Jinping promised additional economic support. Similarly, the Shanghai Composite Index surged by 12.8%. Meanwhile, South Korea's Kospi advanced by 2.2%, reflecting strong gains in the tech sector.
Conclusion
Overall, both Indian and global markets ended the week on a high note, driven by strong performances in key sectors such as auto, metals, and semiconductors. While financials underperformed slightly in India, the broader market sentiment remained positive across global regions.
Other Markets:
Brent crude prices slightly fell to $ 71.45
The rupee closed at Rs 83.68 against the US dollar.
Gold rose to settle at Rs 75,402 per 10 grams.
The 10 Year Benchmark G-Sec yield was at 6.87%.
Source: www.nseindices.com; google finance, MCX Gold Prices; www.rbi.org.in; Morningstar and tradingeconomics.com
Data for week ended on September 27, 2024. ^ data for the week (Fri – Thu) FTSE data as of today 1 pm.
Disclaimers:
The views and investment tips expressed by experts are their own and are meant for informational purposes only and should not be construed as investment advice. Investors should check with their financial advisors before taking any investment decisions.
The word ‘more’ does not imply more returns or assurance of scheme performance.it refers to the additional value provided by the joint venture, as compared to Baroda AMC and BNP Paribas AMC individually.
In the preparation of the material contained in this document, Baroda BNP Paribas Asset Management India Ltd. (“AMC”) (formerly BNP Paribas Asset Management India Private Limited) has used information that is publicly available, including information developed in-house. The AMC, however, does not warrant the accuracy, reasonableness and/or completeness of any information. This document may contain statements/opinions/ recommendations, which contain words, or phrases such as “expect”, “believe” and similar expressions or variations of such expressions that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices, etc. The AMC (including its affiliates), Baroda BNP Paribas Mutual Fund (“Mutual Fund”), its sponsor / trustee and any of its officers, directors, personnel and employees, shall not be liable for any loss, damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this document in any manner. The recipient alone shall be fully responsible / liable for any decision taken based on this document. All figures and other data given in this document are dated and may or may not be relevant at a future date. Prospective investors are therefore advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequences of subscribing to the units of the schemes of Baroda BNP Paribas Mutual Fund.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
© Copyright Baroda BNP Paribas Mutual Fund
