Merisis Wealth Monthly Outlook - October 2024 📊
📅 October 2024 update:
India's economic indicators showed mixed signals as the RBI maintained the key repo rate at 6.50% for the tenth consecutive time, focusing on inflation control and growth support. Highlights include a slight increase in CPI inflation to 3.65% 📈, a modest rise in IIP growth to 4.8% 📊, and a widened current account deficit of $9.7 billion 💰. The equity market saw strong FII inflows of ₹57,724 crore 💹, while the export sector faced challenges with a YoY decline of 9.33% 📉. Global trends included a significant drop in crude oil prices (-11.46%) 🛢️ and rising gold prices (+5.25%) 🪙 amid a favorable U.S. Fed interest rate cut.
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Key Highlights:
- CPI Inflation: Increased slightly to 3.65% 📈.
- IIP Growth: Modest rise to 4.8% 📊.
- Current Account Deficit: Widened to $9.7 billion 💰.
- Equity Market: Strong FII inflows of ₹57,724 crore 💹.
- Export Sector: YoY decline of 9.33% 📉.
Overall, the market demonstrated resilience amid various pressures.
