Nifty Midcap 150 Declined 6.43% In Oct; Nifty Next 50 saw a decline of 9.32% in October; however, shown growth of 58.82% in a year: Motilal Oswal Asset Management Company
FinTech BizNews Service
Mumbai, 6 November, 2024: According to Motilal Oswal Asset Management Company’s Global Market snapshot report, in October 2024, all broad-based indices saw a decline and have delivered negative returns. The Nifty Midcap 150 has experienced a decline of 4.50% over the past 3 months, a surge of 10.50% over the past 6 months, and a one-year growth of 43.32%. The Nifty Microcap 250 index has surged by 0.15% over the last 3 months, 18.55% over the past 6 months, and 53.73%% over the past year. The Nifty 50 has seen a 2.99% decline over the past 3months and a growth of 7.08% over the past six months and 26.87% growth over the past year. The Nifty Next 50 has seen a decline of 6.52% over the past 3 months, and a surge of 7.72% over the past 6 months, and 58.82% over the past year. The Nifty Smallcap 250 has experienced a decline of 1.10% over the past 3 months, 12.11% growth over the past 6 months, and a 47.63% increase over the past year. The Nifty 500 has seen a decline of 3.58% over the past 3months, 8.06% growth over the past 6months and an increase of 35.05% over the past year.
Auto, Energy and Consumer Durables sector tumbled, with negative returns of 13%, 10.7% and 10.2% respectively while banking sector index suffered a decline of 2.84% in October 2024. Healthcare & IT sectors experienced a decline of 2.20% and 3.67% respectively. The Realty and Metal sector have seen a drastic decline of 9.05% and 8.61% in October 2024. However the Realty and Healthcare sector has seen positive returns of 65.76% & 55.89% over the past year. The Automobile sector too has seen positive returns of 47.74% over the year.
Momentum, Low Volatility, Quality, and Value strategic indices, also faced a downturn, with declines ranging from 8% to 10%.
The decline in the Nifty 500 was primarily driven by losses in the Consumer Discretionary, Energy, and Financial Services sectors, while the Diversified and Healthcare sectors saw only a modest decline.
Global Market Update
S&P 500 recorded negative returns of nearly 1%, while the NASDAQ 100 also experienced a downturn, falling by 0.85%, as tech stocks faced pressure during the period. Emerging market indices saw declines during the period, with Taiwan being a notable exception, as it posted positive returns of 3.7%.
Crude oil prices marked a slight rise of 1.6% in October, amid a demand-supply imbalance. Amid global uncertainties, Gold & Silver surged by 3.9% & 8.1% respectively. Cryptocurrency markets saw notable surge, with Bitcoin rising by an impressive 12.1%, while Ethereum also posted a gain of 1%.
Quick Take
India’s 10-Year Yield (%) stands at 6.83% while inflation soar to 5.5%, albeit inflation in the U.S. continued to ease to 2.4%. GST Collections in India stands at 1,87,346 crore, an 8.9% increase from October 2023. U.S. unemployment rate was unchanged at 4.1%, with employment continued to trend up in healthcare and government.
