Here's how global and domestic equity markets performed in February 2024

Global equity markets have ended the February month on a higher note. Major global equity benchmarks surged significantly and rose up to 8% this month. This outperformance was led by Asian stock markets such as China and Japan. On the other hand, UK and Singapore stock markets ended in the red.

Global Equity Performance

This month, the majority of global equity markets have provided significant returns to investors. In Asia, the Chinese stock benchmark, the Shanghai Composite Index jumped 8.1% to 3015.17 on February 29 from 2788.55 on January 31, 2024. China is followed by the Japanese benchmark Nikkei 225, which gained 7.9% to close at 39,166.19 on February 29.  India’s BSE Sensex surged 1% in February and closed at 72,500. On the other hand, the Straits Times index of Singapore slipped 0.4 to 3,141.85.

In the US, the Dow Jones index jumped 2.1% to 38,949.02 on February 28 from 38,150.3 on January 31, 2024, while the tech-heavy Nasdaq index zoomed 5.2% to settle at 15947.7 from 15,164 level.

While in Europe, the German equity index DAX was up 4.1% to close at 17,601.2 on Feb 28 from 16,903.8 mark at the end of January month, the French CAC 40 surged 3.9, and the British stock benchmark FTSE100 remained almost flat and declined 0.1% to settle at 7,625 level on Feb 28.

Indian Equities

Sector-wise, the BSE Oil & Gas index surged the most (6.7%) during the month gone by. While BSE Auto index registered a gain of 6.4% followed by BSE Realty jumped 6.3%. On the other hand, the BSE FMCG index fall 2.2%.              

As many as 28 stocks in the Nifty 50 index delivered a positive return for investors in February 2024. With a monthly gain of 20.3%, Bharat Petroleum Corporation emerged as the top gainer in the index. It was followed by State Bank of India (17%), Mahindra & Mahindra (16.9%), Sun Pharmaceutical Industries (11.1%), SBI Life Insurance Company (11%) and Maruti Suzuki India (10.7%). Cipla and Adani Ports and Special Economic Zone also advanced by over nine percent.  

On the other hand, Hindalco Industries, UPL, and Shree Cement declined 13.2%, 12.7%, and 10.7%, respectively.