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Market Wrap Today: Indian markets close in red due to weak global cues and concerns over inflation and Chinese economy. Sensex down 388.40 points (-0.59%) and Nifty down 99.75 points (-0.51%).
Plenty of data to be announced by the US this week including those on trade balance, CPI, initial jobless claims, wholesale inventories and consumer sentiments. The UK will declare industrial production, manufacturing production and GDP data. China will announce its FDI, CPI, producer price index (PPI) and trade balance data
For optimism to return to the markets, a move above 19,600 and a calm international scenario are essential. There is ambiguity in the markets. Experts suggest caution at every step.
We launched the fund on 20th March 2023 and as of 12th July 2023 an INR 50 Lac portfolio invested on the launch day has now become an INR 64 Lacs portfolio (28% Return) vs the benchmark return close to 16%.
A combination of strong macros, stable micros, and a sharp recovery in FII flows post-Mar 23 has driven the ascent. Valuations today are relatively more reasonable than the Oct21 peak of the Nifty50.