In the third quarter of FY24, India's GDP grew by 8.4%, led by a robust manufacturing sector, while the RBI maintained a steady repo rate of 6.50%. Global bond yields saw diverse movements, with the U.S. witnessing the highest rise and Brazil experiencing a significant fall. Domestic equity markets surged, particularly in realty and energy sectors, but signs of fatigue emerged in the broader market. Caution is advised as market breadth indicators indicate consolidation and divergence, with sectors like IT, banks, and FMCG lagging behind. Read the full market update below.
Authors:
- Naresh Bulchandani, CFA, CAIA - Head Products & Advisory
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