Motilal Oswal Global Dashboard – September 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 September 2024, all broad-based indices closed higher and have delivered positive returns.
• Metal, FMCG and Consumer Durables sector delivered positive returns of 8.4%, 3.9% and 5.7% respectively while Information Technology was the worst performing sector in September 2024.
• Momentum, Low Volatility and Quality strategies delivered positive returns, whereas the Value strategy experienced negative returns.
• The Nifty 500’s gains were primarily driven by the Financial Services, Consumer Discretionary and Commodities sectors, while Information Technology contributed the least.

Global Market Update

• In the U.S., the S&P 500 gained 2.02%, while the Nasdaq 100 gained 2.48%, both posting positive performance.
• Among the emerging market indices China was an outlier with double digit posted positive returns, with rising 23.59%.
• Crude oil prices continued the downward trajectory and fell by 7.73% in September 2024 amidst weakening global demand.
• Amid global uncertainties, Gold & Silver surged by 4.64% & 5.45% respectively.
• The cryptocurrency markets experienced a rise. Bitcoin increased by 7.25%, and Ethereum also saw an increase of 3.39%.

Economic Indicators

• India’s 10-Year Yield (%) was at 6.75% while inflation was at 3.65%, while inflation in the U.S. also continued to ease to 2.50%.
• GST Collections in India stands at 1,73,240 crore which was a 40-month low.
• U.S. unemployment stand at 4.2%, which is driven by a slowdown in hiring and a notable increase in temporary layoffs.