Blog
Monthly Market Summary: April 2018
Friday, May 11th, 2018We 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
The Sensex rebounded strongly in April, vastly outperforming its emerging market peers after many months of underperformance. Most markets continue to give double digit return over the last year. And on a much longer term basis, both India and the US markets have done well.
Fixed Income
The 10Y G-Sec continues to trade in a high range over concerns on the macro environment. Rising oil prices and the possibility of increase in US interest rates are putting a cloud on the Indian macro story.
Gold
Gold continues to trade in the 1200-1400 dollars per ounce range. A strong move of gold outside of this range would give a better indication of its long term trend.
Oil
Oil moved up sharply in April to about 74 dollars a barrel. It appears that it is now breaking out on the higher side. Fresh sanctions on Iranian crude could move these prices even higher. 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 depreciated against the Dollar but was roughly stable against other currencies. This is a reflection of global trends where the dollar was much stronger in April.
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.
