UP govt to conduct grand roadshows in India and abroad for Maha Kumbh
Apart from this, approval has been granted for the purchase of 220 vehicles for the event.
Global market cap rose 7.3 per cent ($7.2Tn) over the last 12 months, while India’s market cap jumped 17.2 per cent Barring Russia and China, all key global markets witnessed a rise in market cap over the last 12 months, Motilal Oswal Financial Services said in a report.
The Nifty ended higher for the fourth consecutive month in June’23. The index oscillated 737 points before closing 655 points (or 3.5 per cent ) higher MoM at 19,189 – a new peak. The Nifty is up 6 per cent in CY23YTD. Midcaps/smallcaps outperformed largecaps by 3.1 per cent /2.4 per cent in June’23. Similarly, over the last 12 months, midcaps/smallcaps have outperformed largecaps and have risen 35 per cent /28 per cent vs. a 22 per cent rise for the Nifty.
FII inflows are the highest since September’22. FIIs remained net buyers for the fourth straight month at $6.7bn in June’23; YTD inflows stood at $11.2bn. Conversely, DIIs – after reporting outflows in May’23 – saw muted inflows in June’23 at $0.5bn; YTD inflows stood at $10.5bn, the report said.
Advertisement
Among the key global markets, Brazil (+9 per cent ), Japan (+7 per cent ), the US (+6 per cent ), India (+4 per cent ), MSCI EM (+3 per cent ), Taiwan (+2 per cent ), and the UK (+1 per cent ) ended higher in June’23, while Korea (-0.5 per cent ), and China (-0.1 per cent ) ended lower in local currency terms.
Over the last 12 months, the MSCI India index (+17 per cent ) has outperformed the MSCI EM index (-1 per cent ). Over the last 10 years, the former has outperformed the MSCI EM index by 178 per cent, the report said.
After a roller-coaster ride of 18 months, Nifty-50 finally surpassed its all-time high and touched the 19,000 mark in June’23. The feat was not at all easy though! Nifty’s journey from 18,000 to 19,000 took 425 trading days (from October’21-June’23) vs. only 31 days when it covered the journey from 17,000 to 18,000. With healthy macros, range-bound oil prices, a robust fiscal balance sheet and moderating inflation, the outlook for the market looks optimistic, the report added.
Advertisement
