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MARKET PERFORMANCE BROAD MARKET UPDATE

* Nifty 50 & Sensex ended the month of April 2023 with gains of 4.1%/3.6% respectively.

* During the month, the RBI took a pause on rate hike in India with a view on stable inflation outlook going ahead.

MARKET PERFORMANCE GLOBAL MARKETS PERFORMANCE

* April was a positive month for the global economy with growth remaining remarkably resilient in the face of higher interest rates.

* US, eurozone, and UK Purchasing Managers Index (PMI) surveys all beat expectations, and China’s Q1 GDP print was also stronger than expected.

* Lower energy and oil prices along with reopening of China helped in the improvement of business sentiment.

* This positive economic momentum supported equities despite further stress in the banking sector.

MARKET PERFORMANCE SECTORAL PERFORMANCE

* All sectors except Media, energy, metal and IT gave positive returns for the month of April 2023.

* For the year ending Mar 23, PSU Banks (+16.8%) and FMCG (+13.3%) made the highest gains while IT (-1.1%) sector was the biggest laggard.

MARKET PERFORMANCE MARKET CAP PERFORMANCE

* For the month of April 2023, the mid-cap and small-cap indices outperformed large-cap and were up by 6.2% and 8.5% respectively.

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