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Equity Market Review
- In August, major Indian indices corrected in-line with other major global equity indices, however Small and Mid Cap indices performed well
- While the S&P BSE Sensex and NSE Nifty indices both declined 2.3 per cent during the month, the rally in Small and Mid Caps continued unabated as BSE Mid Cap / BSE Small Cap indices jumped up by 2.7per cent / 6.3 per cent, respectively
Debt Market Review
- In early August, we saw a surprise downgrade of USA sovereign rating to AA+ from AAA by Fitch. With this downgrade, the USA is now rated AAA by Moody’s only
- FOMC minutes for the July Fed meeting indicated that Federal Reserve would remain data dependent going forward in terms of rate actions
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