Dear Policyholder,
During the month, the Nifty Index recorded a gain of 1.14%. The Nifty Mid-cap and Small-cap indices recorded gain at 0.5% and 0.9%, while both Morgan Stanley Capital International (MSCI) World and MSCI Emerging Markets Indices were at 2.5% and 1.4%, respectively. Nifty index consolidated during the month, and it underperformed the MSCI world and emerging markets and outperformed Nifty mid and small cap indices. Globally, Brazil Bovespa (+6.5%) and Hang Seng (+3.7%) were the best-performing markets and South Korea Kospi Index and China Shanghai Composite declined 3.5% and 3.3%. Foreign Portfolio Investors (FPIs) bought US$1.21 bn (until Aug 29) of Indian equities in the secondary market, whereas Domestic Institutional Investors (DIIs) bought US$5.7bn (until Aug 29).