Equities
| MINTs | |
|---|---|
| JCI(IDN) | +0.74% |
| INMEX(MEX) | -1.56% |
| NGSEINDX(NGA) | +1.82% |
| XU030(TUR) | +3.78% |
| BRICS | |
|---|---|
| IBOV(BRA) | -1.62% |
| SHCOMP(CHN) | +7.88% |
| NIFTY(IND) | +1.31% |
| INDEXCF(RUS) | -0.34% |
| TOP40(ZAF) | -2.31% |
Commodities
| Energy | |
|---|---|
| Brent Crude Oil | -11.89% |
| Ethanol | +2.24% |
| Heating Oil | -9.33% |
| Natural Gas | -5.18% |
| RBOB Gasoline | -10.86% |
| WTI Crude Oil | -12.88% |
| Metals | |
|---|---|
| Copper | -6.84% |
| Gold 100oz | -2.94% |
| Palladium | +2.13% |
| Platinum | -2.27% |
| Silver 5000oz | -4.35% |
Currencies
| MINTs | |
|---|---|
| USDIDR(IDN) | +0.49% |
| USDMXN(MEX) | +2.12% |
| USDNGN(NGA) | +0.85% |
| USDTRY(TUR) | -0.07% |
| BRICS | |
|---|---|
| USDBRL(BRA) | +2.15% |
| USDCNY(CHN) | +0.33% |
| USDINR(IND) | +0.42% |
| USDRUB(RUS) | +7.93% |
| USDZAR(ZAF) | +0.91% |
| Agricultural | |
|---|---|
| Coffee (Arabica) | -1.68% |
| Soybeans | -1.86% |
| Wheat | +5.37% |
| White Sugar | -3.37% |
| Cattle | -1.01% |
| Coffee (Robusta) | +1.30% |
| Corn | +0.13% |
| Lumber | -1.11% |
| Soybean Meal | +4.13% |
| Cocoa | +1.48% |
| Cotton | +3.50% |
| Lean Hogs | -0.91% |
| Feeder Cattle | -2.09% |
| Orange Juice | +3.69% |
| Sugar #11 | -3.23% |
Credit Indices
| Index | Change |
|---|---|
| Markit CDX EM | +0.29% |
| Markit CDX NA HY | +1.06% |
| Markit CDX NA IG | -5.64% |
| Markit iTraxx Asia ex-Japan IG | -5.64% |
| Markit iTraxx Australia | -3.11% |
| Markit iTraxx Europe | -4.96% |
| Markit iTraxx Europe Crossover | -34.92% |
| Markit iTraxx Japan | -0.26% |
| Markit iTraxx SovX Western Europe | -1.73% |
| Markit LCDX (Loan CDS) | -0.02% |
| Markit MCDX (Municipal CDS) | -0.97% |
The biggest news this week was OPEC’s non-cut and the subsequent collapse in oil prices. The US dollar continued to rally, precious metals weakened and Nigeria devalued their currency…
Nifty Heatmap
Index Returns
Sector Performance
Market Cap Decile Performance
| Decile | Mkt. Cap. | Adv/Decl |
|---|---|---|
| 1 (micro) | -4.81% | 65/75 |
| 2 | -0.79% | 67/72 |
| 3 | -1.80% | 63/76 |
| 4 | -0.72% | 62/77 |
| 5 | -1.35% | 66/73 |
| 6 | -1.30% | 67/72 |
| 7 | -0.84% | 70/69 |
| 8 | -0.55% | 66/73 |
| 9 | +0.95% | 72/67 |
| 10 (mega) | +1.09% | 70/70 |
Large cap outperformed small caps this week…
Top Winners and Losers
OMC’s put in a good show on the back of the OPEC non-cut. Has the cycle finally turned for BHEL?
ETF Performance
| PSUBNKBEES | +4.22% |
| BANKBEES | +1.97% |
| NIFTYBEES | +1.66% |
| CPSEETF | +1.18% |
| GOLDBEES | +0.48% |
| JUNIORBEES | +0.25% |
| INFRABEES | -0.64% |
The financial sector put in a good show in the back of RBI’s new regulations on small and payment banks…
Yield Curve
Bond Indices
| Sub Index | Change in YTM | Total Return(%) |
|---|---|---|
| GSEC TB | +0.07 | +0.14% |
| GSEC SUB 1-3 | +0.11 | +0.12% |
| GSEC SUB 3-8 | -0.08 | +0.31% |
| GSEC SUB 8 | -0.08 | +0.87% |
Next rate cut is more than priced in at this point. Falling inflation, wavering growth..
Investment Theme Performance
| Auto | +4.46% |
| Momentum 200 | +2.24% |
| Enterprise Yield | +2.20% |
| Balance-sheet Strength | +1.66% |
| Refract: PPFAS Long Term Value Fund | +1.45% |
| Efficient Growth | +1.35% |
| CNX 100 50-Day Tactical | +0.95% |
| Growth with Moat | +0.88% |
| Market Fliers | +0.84% |
| Magic Formula Investing | +0.70% |
| IT 3rd Benchers | +0.57% |
| Market Elephants | +0.53% |
| Momentum Long-Short | +0.00% |
| Piotroski ROC Small Caps | -0.33% |
| Quality to Price | -0.72% |
| Industrial Value | -0.84% |
| The Other Value | -0.89% |
| ADAG Mania | -1.25% |
| Financial Strength Value | -1.30% |
| Old Economy Value | -1.83% |
Momentum returns eclipsed value…
Thought for the weekend
When we create new constraints, we force ourselves to adapt. This, in turn, exercises skills that otherwise might never be tapped. Constraints foster creativity. We have to perform in new ways to adapt to challenging constraints.