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Equity Market Update for the Fortnight July'19 - I - ABSLMF Blog

Equity Update for the Fortnight July'19 - I

Jul 23, 2019
4 mins | Views 4325
Equity Update for July'19 - I

In the fortnight ended 15th July 2019, major markets around the world gain. Indications by the U.S. Federal Reserve (Fed) and developments on the U.S.-China trade front kept markets abuzz.

International Market

U.S. markets gained in the period as interest rate cut expectations heightened in the face of U.S. Fed chief talking about rising challenges to the economy.

European markets went up on positive developments on the U.S.-China trade front. Global growth worries raised by the International Monetary Fund and the Bank of England restricted gains.

Asian markets followed suit and gained in the period. Rising expectations of the Fed cutting rates in its next meeting and U.S.-China temporary trade war truce buoyed investors.

Indian Market

Indian equity markets fell in the period as investors remained concerned over some of the proposals made in the budget by the finance minister. Losses were limited by the good earnings report of an IT major and U.S. dovish stance.

The Banking and Financial sector declined during the period as Banking and financial stocks were hit as FPIs are still withdrawing their money from the Indian equity market.

The oil and gas sector lost on confusion over stance on importing oil from Iran keeping in mind the U.S. sanctions on the Gulf country.

The rupee strengthened against the greenback during the period as crude oil prices eased.

Source: MFI Explorer

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