Key Events for the Month of January 2025

• India’s Services Purchasing Managers' Index (PMI) for December 2024 rose to 59.3 points, up from 58.4 points in November 2024, signaling growth in the country’s services sector.

• Manufacturing activity in India registered its weakest growth of 2024 in December, as the Manufacturing Purchasing Managers’ Index (PMI) fell to 56.4, down from 56.5 in November 2024. The data indicated softer demand in the sector despite easing cost pressures and strong job growth.

• India’s retail inflation, based on the Consumer Price Index (CPI), stood at 5.22% in December 2024, slightly lower than 5.48% in November 2024. This decline was primarily driven by a deceleration in food price increases, particularly in vegetables, cereals, and pulses.

• Wholesale Price Index (WPI) inflation rose to 2.37% in December 2024, up from 1.89% in November. The increase was mainly due to higher prices in food articles and the manufacture of food products.

• Goods and Services Tax (GST) receipts in January stood at ₹1.96 lakh crore, reflecting a 12.3% year-on-year increase.

• Indian equity indices saw a slight decline amid global events, with the Nifty and Sensex closing lower month-on-month by 0.58% and 0.82%, respectively.

|	Sectoral Index Performance

Name	3 Months	6 Months	1 Year	3 Years	5 Years
Nifty Auto Index	-2.8%	-14.3%	18.9%	25.0%	23.1%
Nifty Bank Index	-3.7%	-3.8%	7.8%	9.3%	10.0%
Nifty Energy Index	-13.8%	-23.1%	-7.8%	10.7%	17.9%
Nifty Financial Services Index	-2.8%	-0.8%	13.3%	9.2%	10.1%
Nifty FMCG Index	-4.2%	-8.7%	2.9%	15.8%	13.0%
Nifty Healthcare Index	-4.4%	0.3%	20.7%	18.7%	22.4%
Nifty Infrastructure Index	-5.4%	-12.1%	6.2%	18.2%	20.7%
Nifty IT Index	5.6%	4.4%	16.4%	7.0%	21.4%
Nifty Media Index	-21.7%	-26.5%	-26.5%	-10.9%	-2.9%
Nifty Metal Index	-9.9%	-12.4%	5.4%	15.3%	26.7%
Nifty Pharma Index	-5.7%	-1.6%	19.5%	17.6%	21.3%
Nifty Psu Bank Index	-6.1%	-14.6%	0.7%	28.4%	21.7%
Nifty Realty Index	-7.8%	-15.8%	7.6%	24.2%	22.7%
BSE Consumer Durables Index	-4.6%	-5.1%	14.9%	11.3%	17.2%
BSE Industrial Index	-7.8%	-15.4%	13.8%	33.5%	35.4%

Source: Bloomberg, As on 31/01/2025. The Sector(s)/Stock(s)/mentioned in this document do not constitute any research report/recommendation of the same and the scheme(s)/Fund may or may not have any future position in these Sector(s)/Stock(s)

|	Global Index Performance

Name	3 Months	6 Months	1 Year	3 Years	5 Years
MSCI World Index	5.2%	7.4%	19.7%	7.8%	10.4%
MSCI Emerging Index	-2.3%	0.8%	12.0%	-3.3%	0.6%
MSCI India index	-4.1%	-8.4%	9.1%	11.2%	15.3%
Dow Jones Industrial Average Index	6.7%	9.1%	16.8%	8.2%	9.5%
Nasdaq Composite Index	8.5%	11.5%	29.4%	11.3%	16.5%
Nikkei 225 Index	1.3%	1.2%	9.1%	13.6%	11.3%
Shanghai Composite Index	-0.9%	10.6%	16.6%	-1.1%	1.8%
Deutsche Boerse AG german Stock Index DAX	13.9%	17.4%	28.6%	12.0%	10.8%

Source: Bloomberg, As on 31/01/2025