Top Sep gainers were PSU bank equities

PSU Banks (+18%), Telecom (+9%), Utilities (+7%), Oil & Gas (+6%), and Capital Goods (+6%) were the top gainers in September, while media (-1%) was the only sector to experience a decline, according to a report by Motilal Oswal Financial Services.

Last month, the Nifty-50 passed the 20k mark.

The Nifty-50 added the following 1,000 points (19k to 20k) surprisingly swiftly after a tumultuous and protracted voyage from 18k to 19k, doing it in just 52 trading days (July to September) as opposed to 425 trading sessions (October 21–June 23) during the travel from 18k to 19k.

Despite the challenges, the Nifty-50 recovered from its lows in June 2012 and March 2013 to approach $20,000, mostly due to significant FII/DII inflows of $19 billion and $9.3 billion between March and September of 2013.

According to a survey by Motilal Oswal Financial Services, after being net purchasers for six months, FIIs became sellers of $2.3 billion in September.

In CY23YTD, FII and DII flows total $14.7 billion and $15.7 billion, respectively. Following $3.0 billion in inflows in August 23, DIIs had strong inflows of $2.4 billion in September 23, according to the study.

“We believe that continuing profits performance in comparison to expectations and macroeconomic stability on a global and local level will drive future growth. Additionally, we see that the Nifty-50 rose 10-32 percent six months before the declaration of election results throughout the last five general elections (1999-2019). In March to May of 241, India would have general elections, according to the article.




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