Monthly Market Summary: November 2018

Monday, December 3rd, 2018

We look at returns of various asset classes such as equity, debt, gold, crude oil and the Indian rupee in our latest monthly market summary.

 

We use data for these charts from Investing.com

 

Global Equities

Monthly Market Summary

The Sensex and the S&P500 both outperformed their broader emerging and developed market peers respectively. The Indian market in particular bounced back strongly after a few months of correction. Meanwhile the broader emerging markets and developed markets have fallen sharply in the last year.

 

Fixed Income

Indian bond yields corrected in November from 7.88 to 7.65. The collapse in crude oil prices and an easing of the liquidity situation has led to some relief in the bond markets.

 

Gold

Gold stayed in range during the month. If the commodity moves strongly away from 1200-1400 dollars per barrel, it would give a better indication of the long term trend.

 

Oil

Oil continued to fall in November. From a value of 86 in early October, it fell to to just under 62 dollars per barrel at the end of last month. This is a positive development because of our large dependance on oil imports. It is important to keep an eye on this figure as it can have a destabilising effect on our macros.

 

Indian Rupee


The Rupee appreciated sharply against all major currencies in the last month, to the tune of roughly 5 per cent. This is probably linked to falling oil prices and a return to normalcy in the market from the earlier panic situation.

 

 


About the author

Rishad is the founder of Kairos Capital. He started his career with Standard Chartered Wealth Management and has extensive experience in markets, particularly in terms of mutual funds and stocks.

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