OVERVIEW OF MARKET
Domestic markets hit an all-time high during the month as the indices continued its strong up move post the fall caused by demonetization. On the International front, the first phase of the French election has seen Mr Macron emerge as the favourite to become the next President and the final phase of the election is scheduled for May 7th 2017. Further, the US Fed has left interest rates unchanged in its meeting held in May.
The Index of Industrial Production (IIP) for the month of Feb 2017 contracted 1.19% as compared to expansion of 3.28% in Jan 2017. Consumer Price Index (CPI) increased to 3.81% in Mar 2017 from 3.65% in Feb.
In April 2017, Nifty gained 1.4%; Capital Goods, Oil & Gas and Banking sectors’ outperformed while IT, Metals and Pharma underperformed the Nifty. FIIs were buyers for more than Rs 2,394 cr while domestic institutional buyers bought more than Rs 9,918 cr of equity during the month
The Bond yields rose during the month of April 2017. The benchmark 10 year G-Sec (6.97% GOI 2026) closed 27bp higher at 6.96% against 6.69% last month.