Motilal Oswal Global Dashboard – July 2024

The Motilal Oswal Global Market Snapshot provides a quick glance at index performances and economy updates from the Indian & global markets.

View the full report here

Indian Market Update

• In July 2024, all broad-based indices posted positive returns, with the Microcap 250 leading the way with an impressive gain of 7.7%.
• IT sector continued its upward journey and delivered a return of 13% while Bank, Metal & Realty sector saw negative returns.
• All the factor based indices delivered positive returns with Quality being the best performer at 7.5%.
• All sectors contributed positively to the Nifty 500, with IT, Consumer Discretionary, and FMCG being the top three, collectively adding 2.6% to its gains.

Global Market Update

• In the US, the S&P 500 delivered a positive return of 1.1%, while the NASDAQ 100 declined by 1.6%.
• All developed market indices yielded positive returns, while Brazil and South Africa were the only emerging markets to deliver positive performances.
• Crude oil prices fell by 4.5% in July, amidst weakening global demand due to focus on other alternative means.
• Silver lost its luster, experiencing a 2.8% decline, while gold surged by 4.1%.
• Bitcoin rose by 7.1% and Ethereum fell by 4.2% in July 2024.

Economic Indicators

• After a period of continuous decline, India’s retail inflation reached a four-month high, primarily due to an increase in food prices. In contrast, inflation levels in the US have been steadily decreasing.
• Both FIIs and DIIs remained net buyers, capitalizing on the volatility of Budget 2024, by deploying a total of Rs. 61,948 crores across equity and debt segments.