Gold has seen a positive change has given positive returns of 21.84% in the past one year: Motilal Oswal Asset Management Company
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• Indian stock markets exhibited a negative trend in in October 2023 reports MOAMC Global Market Snapshot Report
• Nifty Midcap 150 declined by 3.80% in October 2023, most among all Indices. While Nifty 50 declined by 2.84%
• Nifty Midcap 150 and Nifty Smallcap 250 declined by 3.80% and 1.69%, respectively. Nifty Next 50 declined by 2.26% and Nifty 500 declined by 2.84%
• Momentum Factor declined by 3.66%
According to Motilal Oswal Asset Management Company’s (MOAMC) Global Market Snapshot Report in October 2023, Indian stock markets exhibited a negative trend, highlighted by a 2.84% fall in the Nifty 50 index, with the Midcap 150 index leading the decline at 3.80%. However, the report by MOAMC notes that in commodities Gold has seen a positive change/has given positive returns of 21.84% in the past one year, while change/ returns on Silver is 21.05%. As of October 31, 2023, Gold is priced at 1,996.9 $/ounce while Silver is 23.2 $/ounce.
With the exception of Realty, all sectors reported negative performance. The Metals sector saw the steepest decline, dropping by 6%.
Factor-based investment strategies, including Momentum, Low Volatility, Quality, and Value, all delivered negative returns for October. Momentum experienced the most significant decline at 4%.
On the return contribution side, The Financial Services sector remained a key driver of returns for the Nifty 500 index, contributing 0.88% to the overall 2.84% decline in the index during October 2023.
In the US, S&P 500 and NASDAQ 100 both experienced a 2% decline in October 2023, with the Healthcare & Consumer Discretionary sector being the largest contributor to the S&P 500's fall. Globally, both emerging and developed markets saw negative performance, with declines of 4% and 3%, respectively. South Korea witnessed the most significant drop at 7%, while Switzerland led the decline in developed markets with a 5% fall.
Crude oil prices nosedived by 11% during October, due to rising geo-political risks, low demand from the US and mixed Chinese data. On the commodities front, precious metals were in the green with gold and silver prices rising by 7% and 1% respectively, amid rising tensions in the middle east. Cryptocurrencies like Bitcoin and Ethereum went soaring at 29% and 9%, respectively
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