IGI Logo

MARKET PERFORMANCE

BROAD MARKET UPDATE

* Month of September 2023 started on a very positive note with a new High achieved for the index around 68000 levels on 15th September 2023.

* However, on account of sharp correction in the US markets taking cues from higher 10-year US yields and the consensus on rates being higher for longer compared to the past expectation, led to some momentum being lost by end of the month. 

MARKET PERFORMANCE

GLOBAL MARKETS PERFORMANCE

* A selloff in global bond markets led to pressure on global equities.

* Global stocks declined during the month with MSCI world index declining 4.5% in USD terms and the MSCI Emerging Markets declined by 2.6% for the same period. MSCI India outperformed (+2.04%) EM and world index.

MARKET PERFORMANCE

SECTORAL PERFORMANCE

* All major sectors ended higher in Sep 23. PSU banks gained the most while media declined for the month.

* For the year ending Sep 23, PSU Banks (+76%) and Realty (+36%) made the highest gains while Energy (7%) was the lowest performer

MARKET PERFORMANCE

MARKET CAP PERFORMANCE

* Large cap made marginal gains for the month of September 2023. However, Mid and Small caps continues to deliver alpha.

* Strong momentum in the small cap segment supported by broadening of economic growth and large domestic flows in dedicated funds.