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Weekly Updates

EQUITY MARKET OVERVIEW 

The Nifty is down about 4.50% this week as the selloff on fears of a slow down on account of demonetization continues. Our interactions with some of the companies those are directly affected by the cash crunch expect the slowdown to taper off by the end of the quarter. But no one is willing to speculate beyond 15 days. 

The Banking system has already collected more than four lakh crore. The success of demonetization would become evident once the amount that doesn’t get deposited can be ascertained. 

The all-out war on parallel economy could result in some short term dip in the GDP growth numbers. However, the longer term impact of this move could result in a significant increase in tax collections that could reduce India’s fiscal deficit as well as accelerate GDP growth. 

In the shorter term however, consumption driven companies could see a slowdown. The slowdown could last a bit longer in real estate and high value consumption. 

We advise investors to continue to accumulate consumption centric stocks in the current environment. 


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Mutual Funds

HDFC Tax Saver
Nav as on 06/11/2016 59.70
1 year annualised returns 9.72
Since inception 27.18

DSP Blackrock Top 100 Equity Fund
Nav as on 04/11/2016 22.58
1 year annualised returns 12.17
Since inception 23.17

Birla Sun Life Forntline Equity Fund
Nav as on 06/11/2016 24.49
1 year annualised returns 11.46
Since inception 22.58

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Dividend Announcement

Scheme Current NAV Div. % Record Date
HSBC Equity Fund(D)26.5730.00Nov 02, 2016
HSBC Mid Cap Equity Fund(D)19.1017.50Nov 02, 2016

New Fund Offer

Scheme Structure Remarks Offer Period End
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Know Your Client

In order to comply with regulatory provisions under the Prevention of Money Laundering Act 2002, Rules issued there under and related guidelines/circulars issued by SEBI, KYC formalities are required to be completed for all Unit Holders, including Guardians and Power of Attorney holders, for any investment (whether new or additional purchase) of Rs. 50,000 or more in mutual funds. For the convenience of investors in mutual funds, all mutual funds have made special arrangements with CDSL Ventures Ltd. (CVL), a wholly owned subsidiary of Central Depository Services (India) Ltd. (CDSL)).
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Sagar Investments