Nifty after trading in a tight range during the month of July rallied in August (+8.7%) closed above 17000 levels at month-end to register the best monthly gains in CY21 led by gains in all heavyweight stocks. However, the broader market took a bit of a breather after strong gains in Jul with BSE Mid-cap and BSE Small-cap indices gaining 3.3% and 0.5% respectively. Indian markets are enjoying a considerable bull run, with Year-to-date gains of 20%+, supported by global liquidity.
The 10-year benchmark G-Sec yield closed at 6.22% vs 6.20 in the previous month. Benchmark 10-year treasury yields were up 2 bps and ended the month at 6.22%. Brent oil price declined 5.5% to ~$71/bbl in August.
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