Bulls maintained their winning spree in the domestic markets since yet again the benchmark indices closed near day’s high. Both the major indices Nifty and Nifty Bank displayed strong upside momentum throughout the session to close with considerable gains. The index Nifty surged around 70 points to close above 11500 mark. On the other hand, Nifty Bank surged around 200 points from its previous close.
Finally after some consolidation we again witnessed participation from the broader markets which resulted in a very strong market breadth during the session. On the sectoral front, apart from NIFTY AUTO (-0.70%) and NIFTY METAL (-0.03%) stocks all the other group indices managed to close in green. Amongst them, NIFTY PSU BANK (+1.87%) and NIFTY IT (+0.89%) stocks were the top performers. From the F&O space, BANKINDIA (+6.23%), UNIONBANK (+4.81%) and RELCAPITAL (+4.77%) were the biggest gainers..
Outlook Due to ongoing momentum, Nifty spot has clear the mark of 11500 on closing basis. It addition, during the process the index has also clear the hurdle of 161.8% Fibonacci retracement level of the previous move as shown in the chart. Thus, we expect bullish momentum to continue towards new life high till the time Nifty sustains above 11400 mark. While doing the same, 11600 – 11680 might act as an intermediate resistance for the bulls.
We maintain our positive stance for the markets but at the same time advice traders to start booking their leveraged positions. On the downside 11400 might act as an intermediate support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being.
Posted by Mehul Kothari | Published on 18-MAR-2019
Key stocks that were added during the month of January by the Mutual funds were Bannari Amman, Harita Seating, Wellwin industries were new entries while stock additions were Kotak Mahindra Bank, Reliance, Axis etc. while stocks that saw exits from the portfolio were Hathway, Syntex Plastics, Munjal Showa, Rattan India, etc.
Synopsis of the report and Industry Trends
As per the AMFI data the MF industry witnessed aggregate outflow of 20.083cr across the funds and categories with outflows in Liquid being the highest at 24,500cr. Pure equity funds saw an inflow of 9,279cr as compared to 5,927r in the previous month with the support of ETF money which was to the tune of 5200cr.MUTUAL FUND FLOWS
SIP book of the MF industry remains healthy at 8,095cr per month. However, the growth of the SIP has seen a sharp stagnation in the past few months. The yearly incremental growth which was at 64% in Mar-18 has fallen to 26% y-o-y.
SECTOR ALLOCATION
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Posted by Mehul Kothari | Published on 20-MAR-2019
Market Recap
Although the domestic markets traded with positive bias during yesterday’s session but we witnessed some consolidation in the broader indices. The index Nifty spot got stuck in a narrow range of 50 points throughout the day to close extremely flat. On the other hand, Nifty bank index outperformed a bit by positing decent gains. It’s been almost eight consecutive sessions where the markets have been rising.
Eventually, we observed some pressure at higher levels which resulted in negative market breadth. On the sectoral front, there was a mixed picture wherein NIFTY MEDIA (-3.38%) and NIFTY AUTO (-1.42%) stocks ended in red. On the other hand, NIFTY REALTY (+2.43%) and NIFTY IT (+0.67%) stocks were the top performers. From the F&O space, INDIGO (+6.72%), IDEA (+6.33%) and IBULHSGFIN (+4.93%) were the biggest gainers.
Market Outlook
Despite some selling in the broader markets Nifty managed to sustain above 11500 mark. Also, as discussed in our previous report that Nifty has cleared the hurdle of 161.8% Fibonacci retracement level of the previous move as shown in the chart. Thus, we reiterate our view that bullish momentum might continue towards new life high till the time Nifty sustains above 11400 mark. While doing the same, 11600 – 11680 might act as an intermediate resistance for the bulls.
No doubt the major trend is bullish but at the same time traders are advised to start booking their leveraged positions. On the downside 11400 might act as an intermediate support for the coming sessions. A move below the same might halt the ongoing momentum for the time being.Disclaimer)
Share Market Today - 20th March 2019
MARKET RECAP
KEY MARKET DATA POINTS
MARKET OUTLOOK
Bulls maintained their winning spree in the domestic markets since yet again the benchmark indices closed near day’s high. Both the major indices Nifty and Nifty Bank displayed strong upside momentum throughout the session to close with considerable gains. The index Nifty surged around 70 points to close above 11500 mark. On the other hand, Nifty Bank surged around 200 points from its previous close.
Finally after some consolidation we again witnessed participation from the broader markets which resulted in a very strong market breadth during the session. On the sectoral front, apart from NIFTY AUTO (-0.70%) and NIFTY METAL (-0.03%) stocks all the other group indices managed to close in green. Amongst them, NIFTY PSU BANK (+1.87%) and NIFTY IT (+0.89%) stocks were the top performers. From the F&O space, BANKINDIA (+6.23%), UNIONBANK (+4.81%) and RELCAPITAL (+4.77%) were the biggest gainers..
Outlook
Due to ongoing momentum, Nifty spot has clear the mark of 11500 on closing basis. It addition, during the process the index has also clear the hurdle of 161.8% Fibonacci retracement level of the previous move as shown in the chart. Thus, we expect bullish momentum to continue towards new life high till the time Nifty sustains above 11400 mark. While doing the same, 11600 – 11680 might act as an intermediate resistance for the bulls.
We maintain our positive stance for the markets but at the same time advice traders to start booking their leveraged positions. On the downside 11400 might act as an intermediate support for the coming sessions. A move below the same might dwell the ongoing momentum for the time being.
Disclaimer
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Mutual Fund Portfolio Trends in India - March 2019
Key stocks that were added during the month of January by the Mutual funds were Bannari Amman, Harita Seating, Wellwin industries were new entries while stock additions were Kotak Mahindra Bank, Reliance, Axis etc. while stocks that saw exits from the portfolio were Hathway, Syntex Plastics, Munjal Showa, Rattan India, etc. Synopsis of the report and Industry Trends As per the AMFI data the MF industry witnessed aggregate outflow of 20.083cr across the funds and categories with outflows in Liquid being the highest at 24,500cr. Pure equity funds saw an inflow of 9,279cr as compared to 5,927r in the previous month with the support of ETF money which was to the tune of 5200cr.MUTUAL FUND FLOWS SIP book of the MF industry remains healthy at 8,095cr per month. However, the growth of the SIP has seen a sharp stagnation in the past few months. The yearly incremental growth which was at 64% in Mar-18 has fallen to 26% y-o-y. SECTOR ALLOCATION )
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Share Market Today - 22nd March 2019
Market Recap Although the domestic markets traded with positive bias during yesterday’s session but we witnessed some consolidation in the broader indices. The index Nifty spot got stuck in a narrow range of 50 points throughout the day to close extremely flat. On the other hand, Nifty bank index outperformed a bit by positing decent gains. It’s been almost eight consecutive sessions where the markets have been rising. Eventually, we observed some pressure at higher levels which resulted in negative market breadth. On the sectoral front, there was a mixed picture wherein NIFTY MEDIA (-3.38%) and NIFTY AUTO (-1.42%) stocks ended in red. On the other hand, NIFTY REALTY (+2.43%) and NIFTY IT (+0.67%) stocks were the top performers. From the F&O space, INDIGO (+6.72%), IDEA (+6.33%) and IBULHSGFIN (+4.93%) were the biggest gainers. Market Outlook Despite some selling in the broader markets Nifty managed to sustain above 11500 mark. Also, as discussed in our previous report that Nifty has cleared the hurdle of 161.8% Fibonacci retracement level of the previous move as shown in the chart. Thus, we reiterate our view that bullish momentum might continue towards new life high till the time Nifty sustains above 11400 mark. While doing the same, 11600 – 11680 might act as an intermediate resistance for the bulls. No doubt the major trend is bullish but at the same time traders are advised to start booking their leveraged positions. On the downside 11400 might act as an intermediate support for the coming sessions. A move below the same might halt the ongoing momentum for the time being.Disclaimer)