Aditya Birla Sun Life AMC Limited

Equity Update for the Fortnight - November 2018 - II

Dec 27, 2018
5 mins | Views 1250

In the fortnight from 15th to 30th November 2018, most of the major markets gain as the U.S. Federal Reserve (Fed) seemed to become dovish on interest rates.

  • International Market

    U.S. markets were buoyed by the U.S. Fed comments but weak economic data and loss in the stock of a tech major capped the gains.

    Investors are optimistic that U.S. and China might make further progress on the trade front after the G20 summit, which would provide a respite to the trade conflict.

    European markets came under selling pressure, dragged by a series of weak economic data. However, there was something for investors to cheer too. European Union (EU) leaders approved the Brexit plan and differences between Italy and EU seemed to diminish as well.

    Asian markets gained on the back of predictions that the U.S. Fed has become dovish and may slow down its pace of interest rate hikes.

  • Indian Market

    Indian equity markets witnessed gains during the period on the back of weakness in crude oil prices and a strengthening rupee. The factor that kept markets restricted was cautious stance of investors before the release of important economic data and ahead of elections in some states.

    In the banking and finance services space, investors took a sigh of relief after the government and RBI found a middle ground, thereby giving both sides crucial space to revisit their positions.

    Auto sector gained on the promise of future growth. Consumer sector saw an industry behemoth merging with another sector major. IT sector gained as an industry leader got relief in a major case in the U.S.

    Rupee strengthened in the period on the back of U.S. comments, among other reasons.

Source: MFI Explorer

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