EQUITY MARKET OVERVIEW
The market remained in the red for the first four days and has been the worst week in the last eight months. FIIs also turned sellers for many days in a row. The market breached the level of 7950.The Rupee too weakened a bit.
Things changed however on the last day with the S&P upgrading India’s rating to stable. The market that was trading in the red moved up and the Nifty closed the day with a gain of 57 points.
Globally, the equity markets have been volatile and the same is happening in India as well. The new Government is in place for more than four months and honeymoon period will soon be coming to an end. People would soon be demanding action from the government.
If the Government delivers on this, we see the market breaking through the 8200 barrier. Otherwise, it is likely to remain stagnant with a weak bias.
Success of Mody’s trip will also determine the immediate move in the market as also the RBI policy meeting on the 30th of September.
Most of the stocks especially the mid caps are trading 10-20% lower than their tops in July –Aug. The market too could go down further. However we continue to be bullish and suggest investing piecemeal.
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HDFC Tax Saver
Nav as on 09/26/2014 66.46
1 year annualised returns 67.86 br/>
Since inception 30.32
DSP Blackrock Top 100 Equity Fund
Nav as on 09/26/2014 24.09
1 year annualised returns 43.48
Since inception 26.27 br/>
Birla Sun Life Forntline Equity Fund
Nav as on 09/26/2014 28.10
1 year annualised returns 46.56
Since inception 24.88 br/>
|Scheme ||Current NAV ||Div. % ||Record Date|
|ICICI Pur Value Fund||14.52||20%||Oct 01, 2014|
|Kotak Select Focus Fund||17.63||10%||Sep 26, 2014|
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