Weekly Recap: 3 Factors

This was one volatile week for Nifty: -0.66% for the week but huge gyrations throughout.

Index Performance

If you thought banks were the worst performers, given RBI moves, think again. It was media and pharma stocks that got walloped.

Top winners and losers

SAIL	+14.25%
SESAGOA	+17.50%
TATASTEEL	+19.95%
ACC	-14.60%
ADANIPORTS	-13.10%
DABUR	-12.11%

Metal stocks rallied on the back of China’s PMI holding up better than what the doomsayers were predicting… Is Dabur a buying opportunity at these levels?

ETFs

PSUBNKBEES	+2.27%
GOLDBEES	+1.68%
INFRABEES	-0.34%
NIFTYBEES	-1.41%
BANKBEES	-1.59%
JUNIORBEES	-4.36%

Looks like there was some dip buying in PSU banks but you know what they say about catching falling knifes…

Advancers and Decliners

Yield Curve

Inverted but stable… its like saying the patient in the ICU is in a stable coma…

Sector Performance

Metal and mining stocks rallied away… is the market pricing in a turn of the cycle already?

Thought for the weekend

Europe at first lagged well behind India and China in numerous technologies, such as cotton processing and textile spinning, its economic development leapt ahead because of 3 factors. Elites were legally blocked from expropriating property; contracts could be enforced; and the West developed cultural emphases on independent thinking, secularism, and saving money, fostering the growth of technology and human capital.

Source: A History of the World in Three Sentences