Friday Surrender
Comparison of indices – closing 21st June with 14th June 2019.
Lost on Friday what looked like a winning week
Most indices turned red as Nifty 50 lost 108 points (0.91%) today to have the week close at 0.8% below previous week. Small cap was worst hit with index losing 2.4% during the week. Bank (same level) and Realty (up 1.3%) gained.
Market Updates:
- According to Indian Pharmaceutical Alliance (IPA) – pharmaceutical sector in the country is aiming to grow to the size of $120-130 billion by the year 2030 from the existing $38 billion.
- According to Directorate General of Civil Aviation (DGCA) data, domestic air passenger traffic saw a rebound in May 2019 as it rose by 2.96 percent after a slump in April. Indigo continues to be market leader with 49% share
- Commerce Ministry data – India’s merchandise exports grew by 3.93% in May to $29.99 billion as compared to same period of last year, on the back of healthy growth in electronics and chemicals shipments.
Mutual Funds – NFO Updates:
- Quantum India ESG Equity Fund – long-term capital appreciation by investing companies that meet Quantum’s Environment, Social and Governance (ESG) criteria
- Aditya Birla SL Pharma & Healthcare Fund – long term capital appreciation by investing in companies in Pharmaceuticals, Healthcare and Allied sectors in India
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