Equity: Review and Outlook The Nifty built on the strong showing in July 2018, with a 2.9% return in August, closing at 11,681- 5% higher than the Jan 29 peak of 11,130. Valuation, as measured by the price-to-earnings (PE) ratio was 28.4, compared to 28.29 in Jan 2008. The PE comparison is important, as the […]

Equity: Review and Outlook The Nifty ended a 2-month consolidation with a 6% return in July 2018, closing at 11,356- a level higher than the previous Jan 29 peak of 11,130.But this up-move has come based on very few stocks, and index returns, to that extent, remain something of an optical illusion, compared to broad […]

Equity: Review and Outlook The Nifty continued to consolidate through June 2018, ending the month with a small loss of -0.2%. However, July has seen a rally which has taken the Nifty past the 11,000 mark again.So why is nobody happy? And why would our portfolios not reflect much of this up-move? A graphic from […]

Equity: Review and Outlook After a strong showing in April, the Nifty took a breather in May 2018, with a small gain of 0.4% over the month. Volatility was high given the global uncertainties emanating from various facets of US external policy.While the Nifty held on to gains the Midcap index went below the level […]

Equity: Review and Outlook In keeping with our forecast for a good April, the Nifty index gained 6.4% from its March 2018 close of 10,097.With earnings just about meeting expectations, and a host of short-term global uncertainties emanating from the USA, indices have been volatile so far in May. The up-move may continue after this […]