S&P BSE Sensex down by 0.2% and the CNX Nifty was down by 0.6%. The month was an eventful month and the markets remained highly volatile throughout the month. The key highlight for the month was, RBI cut repo rate by 35 bps to 5.4% and maintained its accommodative stance. The month also saw the Finance Minister announcing some palliative reform steps to kick start the economy and soothe frayed nerves of FPIs. The key measures announced by the FM were 1) withdrawing enhanced surcharge on FPIs and domestic investors, 2) frontloading of Rs 700 bn capital infusion to PSU banks, 3) deferring the proposed revision in registration fees for auto sector till June 2020, 4) increasing vehicle depreciation rate to 30% from 15% earlier and slew of other reform steps. These steps gave some hope to investors that government is serious about bolstering the sagging economy and will restore investors’ faith in Indian capital market.
In this issue:
- Movers & Shakers
- Market Outlook
- Stock Recommendation
- Auto Sector August Sales
- Mutual Fund
- Key Financial Events – September
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