This week Nifty and Sensex ended in red ; both fell around 1% between the Monday to Friday session ( 19th June to 23rd June 2023) . Nifty ended at 18,665.50 while Sensex ended at : 62,979. During the current week, the Indian rupee depreciated by 10 paise and concluded at a rate of 82.03 against the US dollar on June 23, in comparison to its closing rate of 81.93 on June 16.
I would probably see this kind of flattishness, if I may call it that way, or volatility continue as we head towards maybe the year end. But I would encourage investors to take this as an opportunity to kind of get invested because the medium term from a two to three year perspective for India Inc. is looking particularly robust and we can go into detail of that but that is my near term prognosis - says Trideep Bhattacharya, Edlewiess MF
Biggest Gainer of the week in Nifty 50 category are : Indusind Bank - 1308.70 (2.83%) Mankind Pharma - 1,729.70 (2.71%) , ICICI Securities - 554.80 (2.28%) C.E. Info Systems - 1,235.20 (2.04%) , CreditAccess Grameen - 1,365.00 (1.95%)
The performance of various sectors indicated a cautious sentiment among investors, with sectors such as metal, oil & gas, power, capital goods, information technology, and PSU Bank witnessing a decline ranging from 1% to 2%. Conversely, the auto, realty, and FMCG sectors experienced a marginal dip of 0.5% each. Please refer to the table given below for the weekly performance of various MF categories ( sorted on 1 Week basis) :
Disclaimer
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Upcoming NFO
"Upcoming Mutual Fund NFOs: Key Points to Consider for Your Investment Decisions"
Name | Opening Date | Closing Date | Scheme Type | Min. amount to Invest |
Kotak FMP Series 313-(180D) Regular Plan | 22-06-2023 | 26-06-2023 | Debt-Fixed Maturity Plan | 5000 |
Upcoming IPO
Name- ideaForge Technology Limited IPO (ideaForge Technology IPO)
Company's Objective- Incorporated in 2007, ideaForge Technology Limited is engaged in the business of manufacturing Unmanned Aircraft Systems (UAS). it manufactures Unmanned Aircraft Vehicles for Mapping, Security & Surveillance. These drones are capable of a wide range of mining area planning, and mapping applications. They also assist defense forces in conducting Intelligence, Surveillance, and Reconnaissance (ISR) operations along borders.
Opening Date -Monday, 26 June 2023
Closing Date - Thursday, 29 June 2023
Lot Size - 22
Price - ₹638 to ₹672 per share
Tips of the Week : To navigate through these uncertain times successfully, investors must maintain a diligent approach. By staying informed, conducting thorough research, and keeping a pulse on global developments, investors can position themselves to make informed investment decisions and mitigate potential risks.
Key Points
Despite concerns over the narrowing interest rate differential, foreign portfolio investors (FPIs) have demonstrated a strong interest in Indian equities. According to data from the National Securities Depository Ltd (NSDL), FPIs have invested approximately ₹60,000 crore in Indian equities in 2023 so far. This indicates their confidence in the Indian market and its long-term growth prospects.
As a result of the rate hikes and subsequent pauses, the interest rate differential between India and the US has narrowed to 125 basis points. This reduction has raised concerns within the domestic market about potential outflows of foreign capital. Investors closely monitor interest rate differentials as they impact the attractiveness of investing in a particular country, with higher differentials generally favoring inflows of foreign capital.
There are numerous prospects within the broader markets, and companies that possess robust fundamentals in the Nifty 500 domain are likely to thrive in the forthcoming quarters.
Within the BSE Sensex, Reliance Industries experienced the highest decline in terms of market capitalization, followed by Hindustan Unilever, State Bank of India, and Bajaj Finance. Conversely, HDFC Bank, Tata Consultancy Services, and Housing Development Finance Corporation witnessed the most significant growth in their market capitalization.
Quote of the week
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