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Weekly Updates

 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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Mutual Funds

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

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Dividend Announcement

Scheme Current NAV Div. % Record Date
Kotak Equity Saving Fund10.730.50%Aug 12, 2016
Birla Sun Life Tax Relief 96(D)140.311.35%Aug 11, 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