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INDIA
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According to a report by Motilal Oswal Asset Management Company, gold has delivered robust positive returns of 21.84% in the last year, with silver closely following at 21.05%. However, in October, Indian stock markets faced a downturn, marked by a 2.84% decline in the Nifty 50 index, and the mid-cap 150 index leading the descent with a 3.80% drop.
Except for the Realty sector, all other sectors reported negative performance, with the Metals sector witnessing the most significant decline at 6%.
In the US, both the S&P 500 and NASDAQ 100 experienced a 2% decline in October 2023, with the Healthcare & Consumer Discretionary sector contributing the most to the S&P 500’s fall. Globally, both emerging and developed markets witnessed negative performance, with declines of 4% and 3%, respectively. South Korea recorded the most substantial drop at 7%, while Switzerland led the decline in developed markets with a 5% fall.
Crude oil prices took a nosedive, plummeting by 11% in October due to rising geopolitical risks, low demand from the US, and mixed Chinese data. On the commodities front, precious metals saw positive movement, with gold and silver prices rising by 7% and 1%, respectively, amid escalating tensions in the Middle East. Cryptocurrencies like Bitcoin and Ethereum experienced significant gains at 19% and 9%, respectively.
