Growthfiniti@admin

Domestic equity markets rose initially after the Monetary Policy Committee of
the Reserve Bank of India maintained a status quo on repo rates and policy
stance which was in line with market expectations. In addition, the central
bank kept the growth projections of Indian economy for FY24 unchanged at
6.5% which provided additional support.

Domestic equity markets rose initially after the U.S. nonfarm payroll employment data for Aug 2023 came along mixed lines. The data led to anticipation that the U.S. Federal Reserve may refrain from raising interest rates in its upcoming monetary policy review which was scheduled on Sep 20, 2023.

Domestic equities fell after a major global credit rating agency downgraded
the credit rating of the U.S. economy which led to an all-round sell off in the
global equity market and rattled the investor risk sentiment. Sentiments were
further dampened after the Reserve Bank of India in its monetary policy
expressed concerns about the evolving inflation situation within the country.
The outcome led to worries that the key policy repo rate may remain elevated
for a prolonged period and any possibility of a rate cut may be delayed.

Domestic equity markets rose as S&P BSE Sensex crossed the psychological
levels of 66,500 and 19,500 respectively. The market rally was broad-based
as the mid cap segment and the small cap segment also closed the month in
green.

Domestic equity markets rose following the release of a slew of upbeat domestic macroeconomic data which indicated that the Indian economy was on a strong footing in terms of macroeconomic stability.