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Equity Market Update for the Fortnight - April 2019 - II - ABSLMF Blog

Equity Update for the Fortnight - April 2019 - II

May 17, 2019
4 mins | Views 3657
Equity Update for April 2019 - II

In the fortnight ended April 30th, 2019 Major global markets gained though Asian markets were a mixed lot.

International Market

U.S. markets gained on the back of upbeat economic data and corporate earnings. The dampener came in the form of the report from the U.S. Federal Reserve (Fed) showing industrial production unexpectedly edged lower in March 2019.

European markets also took heart from the upbeat U.S. corporate earnings as it augurs well for the global economy. Gains were limited by deterioration in euro zone economic sentiment.

Asian markets were mixed as a series of economic data showed China is coping well with the challenges posed by the trade tiff with the U.S.

Indian Market

Indian equity markets closed on a positive note during the period. The major factor that led to gains was the forecast that monsoon will be near-normal in the year.

The banking and financial sector witnessed decline during the period. Consumer sector was mixed as investors remained cautious of the upcoming earnings announcements.

Auto sector ended on a negative note during the period amid weak earnings results from some of the auto majors. A weak rupee boosted the information and technology sector.

The Indian rupee weakened against the greenback after trade deficit widened in March 2019.

Source: MFI Explorer

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