Major global markets gained during the fortnight ended 15 March 2019. U.S. markets were buoyed by upbeat economic data but gains were restricted by concerns on the North Korea-U.S. summit
International Market
U.S. markets mostly gained, backed by a series of encouraging economic data. Buying interest found additional support from modest inflation data in February 2019.
European markets got support from positive Brexit development and encouraging earnings. U.S.-China trade talks seemed to be going in the right direction, which lessened investor concern.
Asian markets followed the western peers and gained in the period. Japanese markets rose after the Bank of Japan left its monetary stimulus plan unchanged, as was widely expected, but gave a relatively weak assessment of the economy.
Indian Market
Indian equity markets gained during the period, Investors stayed optimistic over polls suggesting the ruling party has high chances of coming back to power.
The banking and finance sector gained on capital infusion announcement and willingness of some state-owned banks to cut their lending rates. This step by public sector banks will pass on some of the gains of Reserve Bank of India’s (RBI) erstwhile rate-cuts.
Auto sector gained too as Government announced the Faster Adoption and Manufacturing of Electric Vehicles in India (FAME India). FAME-II scheme will give subsidy to electric vehicles.
The rupee rose against the greenback following gains in the domestic equity market and weak U.S. private jobs data for February 2019.
Source: MFI Explorer
Mutual Fund investments are subject to market risks, read all scheme related documents carefully
Thank You
Message will change according to your requirement.