Fastest growing economy tag for India- Feb, this year we overtook china to get the tag of large, fastest growing economy.
Rupee plunges to a new low- Nov 24, Rs 68.86 against USD.
Surgical Attack on Pak.
BIG BANG – DEMONETISATION, BENAMI ACT &
Modi’s aspiration for LESS CASH/ CASH LESS Economy.
Key GLOBAL Events: –
Major Shakeup- Donald Trump getting elected. BREXIT– Britain’s vote against EU. Chinese Slowdown & its currency YUAN cracks.
Near Agreement in OPEC to reduce OIL production, which lead to spike in oil prices.
Market Performance: –
Broader Equity Markets remained Flat, with Sensex gaining marginally 1.78%. BSE Healthcare (Pharma) tanked 12.91% owning to US FDA policy tightening and domestic issues. Gold Outperformed other assets with a smart gain of 8.68% ( US dollar term). In rupee term it would be lesser as Rupee to tanked 2.61% against USD. Indian Rupee gained against Chinese YUAN and British pound, following slowdown in Chinese economy & BREXIT vote of UK, respectively. REAL ESTATE: – Continued to get butchered, whether it was RERA, Demonetization or now much fearedBENAMI ACT.
Key events to watch out for in 2017.
UP & other state elections.
How demonetization further strains economy in Q1 2017.
Union Budget- Hell lot of hopes have been built.
Trump Assuming office in Jan 2017.
US FEDERAL RESERVE RATE HIKES
Early 2017: Will Britain Trigger Article 50?
German federal elections. Oct 2017, sometime.
Further, we at SNMA have made some landmark changes/ addition in our processes, tools, products and portfolio management, one of the KEY success will be our shift to ONLINE transaction for Mutual Funds sometime early 2017, & Addition of few cutting-edge, brilliant Product suite. We shall share details as the year progresses.
Thank You for your continued patronage and would look forward for higher engagements in 2017. Our commitment for service & customer centricity will continue to strengthen.