Week That Was - 2 Oct: Indian Markets Slip as Global Yields Stay Near Two-Decade Highs

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In this week's episode of The Week That Was, we break down key global and domestic market developments:

Global Markets: The US 10-year Treasury yield stayed elevated near 5.27%, close to its highest level in nearly two decades, even as oil prices eased to around $102/bbl after crude exports from the Middle East improved and the G7 agreed to release 100 million barrels from emergency reserves; US jobs data came in soft, with September payrolls at just 29,000 and August revised down to 133,000.
India Macro & Economic Data: India's Manufacturing PMI jumped to a seven-month high of 55.1 in September, GST collections grew 14.7% YoY, and industrial production rose 8% YoY in August, even as the fiscal deficit widened to about 42% of the full-year budget estimate.
Domestic Equities & Sectors: The Nifty and Sensex declined as the global bond selloff and elevated crude pressured sentiment and FIIs stepped up outflows; Auto led sector declines on weak September sales, while IT was the lone gainer.

Speaker:

Michelle Castellino

Investment Strategist

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