Motilal Oswal Global Dashboard – October 2024

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

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Indian Market Update

• In October 2024, all broad-based indices saw a decline and have delivered negative returns with few exceptions.
• Auto, Energy and Consumer Durables sector tumbled, with negative returns of 13%, 10.7% and 10.2% respectively while Banking sector index suffered a decline of 2.8% in October 2024.
• Momentum, Low Volatility, Quality, and Value strategic indices, also faced a downturn, with declines ranging from 8% to 10%.
• The decline in the Nifty 500 was primarily driven by losses in the Consumer Discretionary, Energy, and Financial Services sectors, while the Diversified and Healthcare sectors saw only a modest decline.

Global Market Update

• S&P 500 recorded negative returns of nearly 1%, while the NASDAQ 100 also experienced a downturn, falling by 0.85%, as tech stocks faced pressure during the period.
• Emerging market indices saw declines during the period, with Taiwan being a notable exception, as it posted positive returns of 3.7%.
• Crude oil prices marked a slight rise of 1.6% in October, amid a demand-supply imbalance.
• Amid global uncertainties, Gold & Silver surged by 3.9% & 8.1% respectively.
• Cryptocurrency markets saw notable surge, with Bitcoin rising by an impressive 12.1%, while Ethereum also posted a gain of 1%.

Economic Indicators

• India’s 10-Year Yield (%) stands at 6.83% while inflation soar to 5.5%, albeit inflation in the U.S. continued to ease to 2.4%.
• GST Collections in India stands at 1,87,346 crore, an 8.9% increase from October 2023.
• U.S. unemployment rate was unchanged at 4.1%, with employment continued to trend up in healthcare and government.