Market showed volatility during the month but in second half of the month was relatively bullish. The Indian benchmark indices closed positive with S&P BSE Sensex up by 3.9% and the Nifty 50 was up by 4.4%. India’s performance rank in EM stood at 7th position form 6th position in August. Midcap and small cap indices outperformed the Sensex during the month. RBI’s MPC will conclude its 4th Monetary Policy meeting for FY20 on 4th October 2019.
India Manufacturing PMI was at 51.4 in September, unchanged from August due to which Indian manufacturers were again hit by subdued demand conditions domestically and externally. The Government of India has provided a big fiscal stimulus to the economy through a large cut in the corporate tax rate to an effective 25.17% for regular tax paying corporates and 15% tax for MAT paying corporates (from 18%). It helped lift Sensex in second half of the month..
In this issue:
- Movers & Shakers
- Market Outlook
- Stock Recommendation
- Auto Sector September Sales
- Mutual Fund
- Key Financial Events – October
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