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According to Motilal Oswal Asset Management Company’s Global Market snapshot report, In January 2024, The Nifty Microcap 250 emerged as best performing Index with an impressive growth of 9.9%. The Index has been performing well since past year and has given 26.8%, 41.9%, 88.7% growth during last 3 Months, 6 Months and 1 year, respectively.

In the Month of Jan 2024, Nifty Smallcap 250 has given 7.28% growth and it is best performing index after Nifty Microcap 250. The Index has given 25.2%, 32.7%, 62.6% growth during last 3 Months, 6 Months and 1 year, respectively.

Nifty 50 declined by -0.03% in January 2024. However, the index has shown positive growth since past year.

Building on last month's positive trend, the energy sector once again took the lead with a robust 9.8% increase. The bank index experienced a notable downturn and was the worst the performer with a substantial decline of 4.8%

All the factor-based investment strategies delivered positive returns. Once again, the Value factor led the way, experiencing the highest increase at 8.7% for for the month, followed closely by the Momentum factor with a gain of 6.2%

Contrary to the previous month where it held the highest contribution, the Financial Services sector turned into the worst contributor, negatively impacting the overall returns of the Nifty 500 index by 0.8%

Global Market Update

In the US, S&P 500 and NASDAQ 100 both experienced 1.6% and 1.9% gains respectively in January 2024 with the Information Technology sector once again being the largest contributor to the S&P 500’s rise. All the emerging markets indices saw negative performance, with China being the worst performer at 10.6% As far as developed markets are concerned, Japan emerged as the best performer at 4.6%.

Crude oil prices have started picking up again and rose by 6.3% during January due to Red Sea tensions, reduction in US oil inventories and geopolitical tensions in the Middle East. Gold & Silver prices witnessed a fall of 1.2% and 2.9% respectively. Cryptocurrencies like Bitcoin and Ethereum ended on a flat note.

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