Aditya Birla Sun Life Mutual Fund

Equity Update for the Fortnight - May 2019 - II

Jun 11, 2019
4 mins | Views 4810

In the fortnight ended 31st May, 2019, markets around the globe saw weakness, the U.S.-China trade war has taken new dimensions and is worrying investors about global economic growth more than ever.

International Market

U.S. markets succumbed to pressure as the trade dispute with China is getting worse. The U.S. President revealed plans to use tariffs to compel Mexico to make efforts to stop illegal immigration into the U.S.

European markets went down on trade war and Brexit worries. U.K. companies too got involved in the technology ban on a Chinese company.

Asian markets largely remained low in line with its global peers. U.S. hard steps were reported to be countered by the Chinese side, deepening the rift between the two major economies.

Indian Market

Indian equity markets gained in the fortnight and even touched new highs on the back of election euphoria. Election results coming in line with expectations and boosted sentiment.

The banking and financial services sector strengthened during the period. The sector was boosted on expectations that economic policies and reform measures would continue to reverse economic slowdown.

Auto sector gained as a few companies posted positive earnings. The consumer sector’s main thrust came from expectations that the health of the economy would get better under the second term of the Government.

The Indian rupee strengthened against the U.S. dollar as the outcome of the general elections came in line with expectations.

Source: MFI Explorer

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