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Friday, December 25, 2009
Year End Thermometer of Mutual Funds
Key observations
± On a fortnightly basis, NAVs of most equity diversified funds ended in the red with advance:decline ratio at 19:170. Category average was down by 1.2%. However, mid-caps continued to be in the top quartile. Top three gainers this fortnight were Taurus Ethical (+3.7%), Canara Robeco Emerging Equities (+1.8%) and Reliance Equity Opportunities (1.8%). Large-cap funds continued to underperform the category and the benchmark indices.
± Among the sectoral funds, Information Technology and Pharma oriented funds led the charts on a fortnightly basis. Top three gainers were ICICI Pru Technology (+2.7%), Birla SL New Millennium (+2.6%) and UTI Pharma & Healthcare (+2.0%). On an average, pharma funds’ NAV delivered a return of 1.8%, whereas Banking and Finance oriented funds’ NAVs ended down. Top three losers belonged to this sector, namely UTI Banking Sector (-4.6%), Religare Banking-Reg (-4.9%) and JM Fin Services Sector (-5%).
± Tax- saving funds also exhibited poor performance as their NAVs ended lower. The category average was down by 1.4% this fortnight. Funds with large corpuses were able to contain the downfall, namely ICICI Pru Tax Plan (-0.2%), HDFC TaxSaver (-0.3%) and Reliance Tax Saver (-0.6%). However, funds with smaller corpuses saw a drastic fall in their NAVs, viz. LIC MF Tax Plan, Edelweiss ELSS and JM Tax Gain. Their NAV was down by ~2.4% on a fortnightly basis.
± Among the balanced fund category, most of the fund NAVs declined on a fortnightly basis. However, capital oriented funds with lower equity exposure fell compared to others. Birla Sun Life Capital Protection Oriented -3Yrs, HDFC Balanced and DWS Capital Protection Oriented were the only three funds to deliver a positive return of 0.1%. The benchmark Crisil Balanced Fund Index was down by 1.6% on a fortnightly basis.
± Gold continued to under-perform this fortnight. Gold ETF NAVs were down by ~4.1%. Banking ETFs, especially Public Sector Undertaking, underperformed on the ETF charts on fears of an impending monetary tightening. Junior Bees, though down by 1%, topped the ETF chart on a fortnightly basis.
Thursday, December 24, 2009
सेन्सेक्स (17360.61) 129.50 अंक चढ्कर, नीफ़्टी (5178.40) 33.80 अंक चढ्कर, बंद..
Nifty closes at 2009 high
Nifty to close at new 2009 high of 5,178.40. It was just shy of the 5,200 mark and touched an intraday high of 5,197.90. The benchmark indices continued their upmove for the second consecutive day and closed higher for the day as well as for this week.
Our Morning call Bhushan Steel at 1426 CLOSE TO TARGET
BOOK PROFIT
The stock had been consolidating in a narrow range between Rs1,378-1,310 since last two weeks alongwith the support of 50-DMA. On Wednesday, the stock attempted to break out from the upper-end of this trading range with higher-than-average volumes. From the current level, the stock can only move towards one direction, i.e. upwards. The daily RSI has also given a positive divergence, indicating that price would start moving up after facing stiff resistance around the levels of Rs1,375-1,378 zone. We recommend buy on the stock from the above mentioned technical observations. Maintain a stop loss of Rs1,340 and go long for a target of Rs1,450 in the coming trading sessions.
The stock had been consolidating in a narrow range between Rs1,378-1,310 since last two weeks alongwith the support of 50-DMA. On Wednesday, the stock attempted to break out from the upper-end of this trading range with higher-than-average volumes. From the current level, the stock can only move towards one direction, i.e. upwards. The daily RSI has also given a positive divergence, indicating that price would start moving up after facing stiff resistance around the levels of Rs1,375-1,378 zone. We recommend buy on the stock from the above mentioned technical observations. Maintain a stop loss of Rs1,340 and go long for a target of Rs1,450 in the coming trading sessions.
Our yesterday buy SUZLON, RCOM & DLF
Our yesterday
buy SUZLON, RCOM & DLF
ALL TRADING ABOVE TARGET
BANG ON TRAGETS
Buy?? // Sell?? BRFL get complite SMS get paid...
STOCK OF THE DAY!!
BRFL
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RIL : no jai no viru....
Above 1064,Don't remain short.
Stock will zoom to kiss 1094-1100 plus
looking strong on charts
Today catch it above
1077 for super gains.
BoI to launch 8% home loan plan on January 01, 2010. (BS)
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GTL Infra has agreed to buy Aircel Towers for Rs40bn. (ET)
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ICICI Bank may sell 3i Infotech stake to US PE firm. (BS)
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ONGC issues Rs20bn bonds to refinance debt it took to acquire Imperial Energy. (ET)
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FIIs were net buyers in the cash segment on Wednesday at Rs7.7bn on a provisional basis. The local funds were net sellers of Rs130.2mn, according to figures published on the NSE's web site. In the F&O segment, the foreign funds were net buyers at Rs17.7bn. FIIs were net buyers of Rs2.25bn in the cash segment on Tuesday. Mutual Funds were net sellers of Rs1.74bn on the same day.
Pre Market Commentary ...
Today we expect a higher opening. Asian markets are mostly up. US market got a boost from technology space, though the blue chips closed flat. European shares hit 14-month high. With several holidays on the horizon, the market could yet again turn choppy and clueless.While the bulls are eating Christmas cakes, the bears seem to be eating humble pie as the Nifty ended well above 5100 and is now eyeing a new high for 2009. Wednesday’s sudden surge would have taken many by surprise. We reiterate that further short covering is not ruled out ahead of the F&O expiry. Also, some long build-up may take place amid signs that the economy and India Inc. may do better.
But clearly, any rise will not be sustainable in the absence of incremental good news – local as well as global. Rich valuations and concerns on an impending reversal in stimulus steps are among the major headwinds. One should not get carried away by any sharp swings in the near term as the market remains in a consolidation phase.
Wednesday, December 23, 2009
सेन्सेक्स (17231.11) 539.11अंक चढ्कर, नीफ़्टी (5144.60) 158.75 अंक चढ्कर, बंद..
Market rallies 539 pts on FM comments, divestment talks
FM says: 10% growth in 2-3 years within our reach
The GDP growth for the next two quarters was
“likely to be bright”,
Mukherjee said.
*PM POwer Grid plan to take up FPO plan early FY11
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