EQUITY MARKET OVERVIEW
Global equity markets remain weak and volatile. Last couple of days of this week specially; the Indian market has been down along with almost all the other equity markets. Concerns are being raised once again on the global economic recovery and specifically on economic condition in China and Europe.
Devaluation of Yuan too has added fuel to the fire. The Nifty now trades a below the 8300 mark. The immediate support is likely to be at around 8250.
We expect the market to remain range bound in the short term and do not see any immediate upside. Chances of rate cut by the RBI seem low now especially with the INR trading at 65.80 to a USD.
In the current global economic environment, India is likely to be favoured by investors over China. However, if the appetite for equities itself goes down, then there may be sell off in India as well.
We keep our fingers crossed.
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HDFC Tax Saver
Nav as on 21/08/2015 64.04
1 year annualised returns 6.740
Since inception 28.79
DSP Blackrock Top 100 Equity Fund
Nav as on 21/08/2015 23.39
1 year annualised eturns 8.95
Since inception 24.91
Birla Sun Life Forntline Equity Fund
Nav as on 21/08/2015 28.57
1 year annualised returns 15.23
Since inception 24.10
|Scheme ||Current NAV ||Div. % ||Record Date|
|Birla Sun Life New Millennium(D)||19.96||20||Jul 31, 2015|
|ICICI Prudential R.I.G.H.T. Fund(D)||26.37||21.50||Jul 31, 2015|
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