Stock Market Recap Report-February 2024
Throughout the month, the market lacked a clear direction, prompting investors to exercise caution while awaiting a breakout from the consolidation phase.
Monthly Market Snapshot: February 2024
February 2024 witnessed a period of cautious optimism in the Indian stock market as key indices, including Sensex and Nifty, navigated sideways within a narrow range.
Despite the positive economic outlook, the stock market conveyed mixed signals, leaving investors uncertain. Throughout the month, the market lacked a clear direction, prompting investors to exercise caution while awaiting a breakout from the consolidation phase.
Key points:
- The RBI maintained the status quo on interest rates, but its commentary on inflation left investors cautious.
- Positive global cues, fueled by renewed expectations of a Fed rate cut, bolstered investor sentiment.
- The government announced new infrastructure projects worth billions, boosting investor sentiment.
- Manufacturing PMI remained positive at 55.5, but retail inflation rose to a 6-month high of 6.01%, raising concerns about potential interest rate hikes.
Here is a summary of the performance of Investmint models for February 2024:
Leaders and Laggards
- The 'BTST' and 'High Five' models were the best performers, yielding +15.38% and +14.82%, respectively.
- On the other hand, 'Trending Ten' and 'Alpha Ally' were among the underperformers, with -5.77% and -3.24% returns, respectively, in the same period.
Check out the Daily Report below to stay updated on the levels to watch in Nifty 50 tomorrow.
Team Investmint
Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.
