EQUITY MARKET OVERVIEW
Just as it looked as if the Nifty was ready to reach the previous top that a correction set in and the Nifty was down once again. In the last week, the rally towards the end of the week helped the Nifty to close the week with minor losses.
The quarterly results continue to be a mixed bag. PSU banks have continued to recognize NPAs even in this quarter, resulting in the PSBs being hammered. State Bank of India though came out with lower than expected additional NPAs which improved sentiment for the bank. However, significant portion of the income for this quarter for most of the PSBs comes from treasury gains. Hopefully with good monsoons and a pickup in demand will result in better numbers from Q3 onwards.
The CPI has crossed 6% in July mainly on account of food inflation. This would make it difficult for the RBI to cut rates immediately.
With good monsoon, the food prices are likely to start coming down post October. This coupled with improving economic activity could drive the market higher.
We continue to recommend investors to buy on dips.
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HDFC Tax Saver
Nav as on 13/08/2016 57.31
1 year annualised returns -1.10
Since inception 27.27
DSP Blackrock Top 100 Equity Fund
Nav as on 13/08/2016 22.00
1 year annualised returns 1.83
Since inception 23.37
Birla Sun Life Forntline Equity Fund
Nav as on 13/08/2016 27.09
1 year annualised returns 5.91
Since inception 22.96
|Scheme ||Current NAV ||Div. % ||Record Date|
|Kotak Equity Saving Fund||10.73||0.50%||Aug 12, 2016|
|Birla Sun Life Tax Relief 96(D)||140.31||1.35%||Aug 11, 2016|
New Fund Offer
|Scheme ||Structure ||Remarks ||Offer Period End|
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