Motilal Oswal Global Dashboard – June 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 June 2024, all broad-based indices posted positive returns, with the Microcap 250 leading the way with an impressive gain of 11.6%.
• All sectoral indices posted positive performances, with the IT sector rebounding from its prolonged slump to lead with a return of 11.7%.
• During the volatile election month, the Low Volatility factor stood out as the best performer, rising by 6.6%.
• All sectors contributed positively to the Nifty 500, with Financial Services, Consumer Discretionary, and IT being the top three, collectively adding 4.3% to its gains.

Global Market Update

• In the US, the S&P 500 and NASDAQ 100 continued its positive performance, delivering returns of 3.5% and 6.2%, respectively.
• Taiwan continued to be the best emerging markets with a growth of 11.5%, while Brazil stood as the worst performer with a fall of 4.5%. France was the worst performer in the developed markets segment and witnessed a fall of 7.7%.
• Crude oil prices increased by 5.9% in June, following the surge in global demand, geopolitical tension in the Middle east and seasonal weather patterns.
• Silver lost its luster, experiencing a 6% decline, while gold held steady without significant change.
• Bitcoin and Ethereum both fell by 10.6% and 10.2% respectively.

Economic Indicators

• Monetary policy actions have consistently driven down annual retail inflation in both the US and India.
• Both FIIs and DIIs remained net buyers, capitalizing on the volatility of the election month by deploying a total of Rs. 56,986 crores across equity and debt segments.
• Unemployment hit a seven-month peak at 8.9%, spurred by a notable increase in rural joblessness.