Aditya Birla Sun Life Mutual Fund

Equity Update for the Fortnight September 19 - I

Sep 27, 2019
4 mins | Views 5696

In the fortnight ended September 13th, 2019, major global markets gained as issues that had been plaguing investors for a long time took a positive turn.

International Market

U.S. markets gained as the U.S. delayed the levy of extra tariff on Chinese imports. China in turn increased the import of U.S. agricultural goods. The U.S. President even spoke of the possibility of an interim trade deal with China.

European markets were buoyed by the positive U.S.-China trade developments. The European central bank also announced stimulus measures to boost the ailing euro zone economy.

Asian markets were no exception to the gains seen in its global peers. The Hong Kong leader officially and fully withdrew the controversial bill that had led to large scale and long drawn, sometimes violent, protests in the nation. This eased worries over economic slowdown.

Indian Market

Indian equity markets gained though modestly as weak economic data somewhat subdued the good effects of advancement in U.S.-China trade relations and easing of Hong Kong protests.

The banking companies gained after the finance minister said that the Government will unveil further measures to revive economic growth that has slowed to a six-year low.

Consumer sector was pulled down by slowdown in demand, while the auto sector remained buoyant on government measures supporting the sector. Strength in rupee hit the IT sector.

The rupee strengthened against greenback as risk appetite improved. It gained further following the announcement of bond purchase program by the European Central Bank.

Source: MFI Explorer

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

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