In August 2020, Domestic market moved positively with benchmark Sensex and Nifty Index both ending the month with 3% gains. Market rally was boosted from the lows of April & May, on the back of gradually opening up of the economy, positive development on Vaccine front, further expectation of monetary and fiscal support by the Government and improving Economic indicators. RBI’s announcement of one time-restructuring for the stressed companies and the MSMEs coupled with FPI inflows in the equity segment has also supported the Equity Market gain. With covid cases continuously surging and some states extending local lockdowns further, economic outlook remains fraught with uncertainty. Going forward, INR movement, global cues and foreign portfolio investors (FPI) investments will be closely watched.
On the sectoral front, Media index has outperformed the other indices with Metal, Realty, Nifty Bank and Auto ended in the green, while selling witnessed in Nifty IT and FMCG sector. Nifty Media was the best performing sector which rose by 22.4%, followed by Nifty Metal with 12.7% gain, Nifty Realty at 10.8% gain and Nifty Auto at 7.7% gain for the month of August. Other major sectoral indices which saw positive momentum during the month are Nifty Bank which has gained 9.8% and Nifty Financial Services at 6.2% gain. On account of some profit booking activity, Nifty IT, Pharma and FMCG ended the month with marginal decline of 0.8%, 0.6% and 0.9% respectively.
In this issue:
- Movers & Shakers
- Market Outlook
- Auto Sector August Sales
- Mutual Fund
- Key Financial Events – Sep
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