Merisis Wealth Monthly Outlook - June 2024
📅 June 2024 update:
In June 2024, domestic markets experienced fluctuations, influenced by global tensions and ongoing elections. SEBI eased regulations on commodity funds, while the RBI advised increased provisions for infrastructure projects. Rating agency S&P upgraded India's outlook to positive. Internationally, the ECB lowered interest rates, and the U.S. GDP growth was revised downwards. Japan saw a GDP contraction, while eurozone inflation rose. Chinese manufacturing PMI exceeded expectations. Looking ahead, market focus will be on India's new government and its policies, with expectations of continued infrastructure investment and economic stability. Despite foreign institutional investors' caution due to high valuations, domestic retail investors remained resilient. FIIs weighed various factors for asset allocation, with India facing competition from other emerging markets. The market outlook emphasizes sectoral shifts towards defensive industries and continued attention to macroeconomic indicators and global trends.
Key Highlights:
📈 Domestic markets fluctuated amid global tensions and elections. SEBI eased commodity fund rules
📉While RBI advised more infrastructure provisions. S&P upgraded India's outlook 🌟, but ECB cut interest rates. US GDP growth was revised down
📉Japan's GDP contracted 🇯🇵, and eurozone inflation rose
📈 In India, focus on new government policies and market resilience 🇮🇳, despite cautious FIIs and sectoral shifts 🔄.
📈 GDP growth in Q4 FY24: 7.8%, Manufacturing sector saw significant growth.
📉 Manufacturing PMI: Slightly decreased to 57.5 in May 2024, indicating slower but steady improvement.
🛢️ Crude Oil: Experienced a decrease, impacting various sectors differently.
