The Nifty ended -1.75% for the week. Financials were the worst hit while IT eked out some gains.
Index Performance
Top Winners and Losers (CNX 100)
Surprisingly, JSW Steel was one of the best performers – in spite of the macro being unkind to the metals sector in general. And all the talk about HP selling off its stake in MphasiS wasn’t enough for the stock to hold on to its all time highs.
ETFs
| NIFTYBEES | -1.72% |
| BANKBEES | -0.78% |
| INFRABEES | -0.64% |
| JUNIORBEES | -0.15% |
| PSUBNKBEES | +0.19% |
| GOLDBEES | +1.95% |
Gold was one of the few bright spots for ETF investors. However, given the recent drop in gold prices given Friday’s NFP numbers, the future for gold does not look all that bright. The slide in USD-INR seem to eclipse other factors for the time being.
Advancers-Decliners (CNX 100)
Bulls beware: the AD line seems to be indicating that the recent rally was probably more smoke than fire.
Yield Curve
I find it hard to believe that short-term rates actually rose. Don’t we have a rate-cut in store this week? Interesting…
Sector Performance
Here’s a more nuanced break out of what happened over the week across different sectors.
Good luck!