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Equity Update for the Fortnight July 2018 - II
Aug 12, 2018
5 mins | Views 145
In the fortnight from 15th to 31st July 2018, major global markets gained. U.S. markets benefitted from the U.S. Federal (Fed) positive outlook of the economy and the easing of trade war tensions between U.S. and the European Union (EU).
- International Market
The Fed chair stated that the U.S. economy has improved so far in 2018 and it expects stronger job market and inflation numbers together with higher growth trajectory in the future.
European markets welcomed the agreement between U.S. and EU on the trade front. Optimism around the upcoming corporate earnings and encouraging economic data kept European markets up.
Asian peers were no different and gained in the period. Investors cheered as China prepared to protect its economy from the ill effects of trade tariffs being imposed by the U.S.
- Indian Market
Indian equity markets closed in the green during the period with key benchmark indices touching record highs.Upbeat corporate earnings also played a big role in the bourses record run.
The Banking sector gained during the period under review after the ministry of finance gave nod for capital infusion in five state-run banks.
The consumer sector moved up during the period, driven by positive sentiment owing to a downward revision in the Goods and Service Tax (GST) rate.
The oil & gas sector gained as the government amended the Petroleum and Natural Gas Rules 1959 to include shale in the definition of petroleum.
The rupee weakened slightly in the period after the Fed chief gave an optimistic outlook of the U.S. economy.
Source: MFI Explorer
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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