Nifty Midcap 150 outperformed all major indexes in September by rising 3.04%, said Motilal Oswal Asset Management Company in its Global Market Snapshot report. The index surged 12.98% in the three months, 33.37% in the last six months and 29.22% in the last one year. Nifty Smallcap 250 also joined the rally and soared 15.99% in the last three months, 39.17 % in the last six months and 32.96% in the last one year. Indian stock markets exhibited a positive trend, highlighted by a 2% increase in the Nifty 50 index, said the report.
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Energy shines among sectors
Among the sectors, Energy outperformed all others with a surge of 6% during the month of September. Meanwhile, Auto, Banks, Consumer Durables, FMCG and Healthcare also posted positive growth.
“Factor-based investment strategies, including Momentum, Low Volatility, Quality, and Value, all delivered positive returns for September. Notably, the Enhanced Value factor led the way with a significant 10% increase in the month of Sep and rose by 19.37%, 32.31% , 51.48% in the last 3 Months, 6 Months and 1 year, respectively,” said the report.
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The Financial Services sector continued to play a pivotal role in driving returns for the Nifty 500 index, contributing 0.63% to the overall 2.18% gain for the index in September 2023, according to the report.
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Global Market
The Wall Street’s benchmark indices the S&P 500 and NASDAQ 100 both experienced a 5% decline in September 2023, with the Information Technology (IT) sector once again being the primary contributor to the S&P 500’s fall, said the report.
On the global front emerging as well as developed markets both saw negative performance, with declines of 4% and 3%, respectively. South Korea witnessed the most significant drop at 5%, while Germany led the decline in developed markets with a 6% decrease, said the report.
Raising concerns about potential impacts on inflation, fiscal balances, and current account deficits, Crude oil prices surged by 9% during September 2023. On the commodities front, precious metals faced declines, with gold and silver prices falling by 4% and 5%, respectively. In contrast, cryptocurrencies like Bitcoin and Ethereum registered gains of 4% and 2%, respectively, the report added.
