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1800 200 5577
1800 180 5577
Macro data in US has shown signs of recovery. Manufacturing activity reached its highest level in 3yrs,unemployment reduced and there was a pickup in new home sales. Investor s were worried about the timing of a Fed Rate hike. Investors were concerned about China's economic slowdown, and the potentially effects of rising U.S. interest rates. Increased volatility in the foreign exchange market and correction in commodities were prominent events in the market during the month. At home we witnessed lower inflation prints due to fall in commodity prices. S&P raised India’s outlook from Negative to Stable.
Nifty closed marginally positive (0.13%) over the month. Pharma, FMCG & IT sectors outperformed the market whereas Metals & Real Estate underperformed during the month. Foreign institutional investors (FIIs) were buyers of US$850 mn over the month. DIIs were net sellers over the month, led by insurance funds. USD strengthening due to fears of monetary policy tightening and poor economic data from EU impacted world equity markets. The Supreme court decision to cancel all the coal blocks impacted the Indian equity markets.
The Wholesale Price Index eased to 3.74% for August 2014 as compared with 5.19% for the previous month. This was the lowest inflation in 58 months. The August CPI inflation came in at 7.8% as against 7.96% for July'14. The consumer prices remained high mainly on account of high food inflation, while core inflation slumped to the lowest ever of 6.89% in 32 months of the new CPI series. On the market movement, government bond prices ended higher in the month, with the yield of the 10-year 8.40% 2024 paper ending at 8.52% on September 30, 2014, compared with 8.57% on August 28, 2014. Corporate spreads also compressed during the month because of FII demand in corporate credits. The INR depreciated by 2.07% in September against USD, despite good inflows, on global US dollar strength.
Our aggregate Traditional portfolio witnessed a growth of 34.51%, and overall portfolio grew by 25% over the last one year till June 2014
Investment newsletter - June 2014
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