EQUITY MARKET OVERVIEW
The market continued to move in a narrow range this week with the undertone still bullish. For the week the market did lose a small ground though. This was mainly on account of global cues where worries over escalation of the Middle East conflict and weak European economies continued to dominate the market.
Of late, in this rally, mid caps have been the star performers. Even during the week as the Nifty closed flat, The NSE Midcap was up nearly 3%. There are arguments saying that these stocks have not done anything for the past many years and the move is justified. But we do not buy this argument. We do sense a significant speculative activity in the market and advise our clients to invest cautiously especially in companies where promoters do not have a good track record.
Just as things seemed falling in line, the IIP data for the month of July showed a growth of just 0.5% a four month low. Whereas, inflation in August eased to 7.8% from 7.96%, Inflation at 7.8% was higher than expected. The data was released post market hours and could impact the market negatively on Monday.
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HDFC Tax Saver
Nav as on 09/13/2014 68.88
1 year annualised returns 73.12 br/>
Since inception 30.35
DSP Blackrock Top 100 Equity Fund
Nav as on 09/13/2014 24.71
1 year annualised returns 44.88
Since inception 26.65 br/>
Birla Sun Life Forntline Equity Fund
Nav as on 09/13/2014 28.44
1 year annualised returns 49.99
Since inception 25.10 br/>
|Scheme ||Current NAV ||Div. % ||Record Date|
|Birla Sun Life Buy India Fund||36.240||30%||Sep 18, 2014|
|Franklin India Equity Income Fund||16.529||7%||Sep 12, 2014|
New Fund Offer
|Scheme ||Structure ||Remarks ||Offer Period End|
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