Up and about
Comparison of indices – closing 28th June vs 21st June.
Index up with a broad based rally
Nifty50 had a good run this week (+0.6%). Rally was broad-based with Midcap (+1.4%) and Smallcap (+0.9+) also gaining. Sector-wise, almost all sectors gained handsomely: Realty (+3.9%), and Pharma (+1.9%) gained, IT declined (-1.6%). The Union Budget on July 5 can give impetus to Nifty.
Market Updates:
- ICRA expects cement demand to pick up from Q3-FY20, post-monsoon season and expects it to increase by nearly 7 per cent during FY20
- With an aim to boost micro, small and medium enterprises (MSME) sector, the UK Sinha Committee, set up by RBI has recommended financial support of Rs 15,000 crore to the sector.
- According to Crisil, National Housing Bank’s (NHB) new norms for housing finance companies (HFCs) will structurally strengthen the sector and increase investor confidence at a time of liquidity stress among non-banks.
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 [21st June – 5th July]
- Aditya Birla SL Pharma & Healthcare Fund – long term capital appreciation by investing in companies in Pharmaceuticals, Healthcare and Allied sectors in India [20th June – 4th July]
- Kotak Focused Equity Fund – investment in select companies upto 30 in number across market capitalisation [25th June – 9th July]
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