The euphoria of anti-Congress soon gave way to the reality of stagflation: Nifty ended the week -1.46% (-2.19% in USD terms)
Index Performance
Risk off… Infra and Banks took it on the chin.
Top Winners and Losers
High beta, industrial and power stocks got thrashed…
ETFs
| GOLDBEES | -1.00% |
| NIFTYBEES | -1.71% |
| JUNIORBEES | -2.20% |
| BANKBEES | -2.92% |
| INFRABEES | -3.98% |
| PSUBNKBEES | -4.50% |
I think this is the first time I’m seeing ALL ETFs in the red… there really was no place to hide except for IT.
Advancers and Decliners
Yield Curve
Rate hike priced in. The only silver lining is that it has a positive slope…
Investment Theme Performance
| Quality to Price | +1.83% |
| Financial Strength Value | -0.67% |
| Balance-sheet Strength | -0.91% |
| Momentum 200 | -0.93% |
| Velocity* | -1.10% |
| Efficient Growth | -1.10% |
| Enterprise Yield | -1.30% |
| Growth with Moat | -1.32% |
| Market Elephants | -1.47% |
| Long Term Equity* | -1.48% |
| Consistent10* | -2.16% |
| Magic Formula Investing | -3.36% |
| ADAG Mania | -5.03% |
| Market Fliers | -6.34% |
Whacked across the board…
*Contributed Themes
Sector Performance
Thought for the Weekend
One forecast that is almost certain to be correct is that market forecasts are almost certain to be wrong. As a species, you humans are terrible about making predictions. Forget forecasting big events that are not in your control, such as the economy or the market, you cannot even forecast your own behavior. If you could, the fitness and diet industries would be bankrupt.
Source: Why Do Forecasters Keep Forecasting?
Related: Forecasting is a Sham – Prepare – Don’t Predict!