Skip to main content

Markets This Week

The week started on a very uncertain note. The good news was strong global cues as oil prices remained just above $130/barrel. Even the FIIs were net buyers over a few sessions the previous week. But there was heightened anxiety and uncertainly over the confidence motion and all eyes were on Delhi.


Though the market was volatile on Monday, it ended on a positive note ahead of the trust vote in the Lok Sabha. The Sensex and Nifty both closed higher. While RIL, ICICI Bank, HDFC Bank and SBI were among the major Sensex gainers, Satyam and L&T lagged. In the overall market, 1,163 stocks advanced, 1,368 declined and 84 remained unchanged. IDFC was the most traded counter on the bourses.
The market continued to rally on Tuesday though the FIIs turned into net sellers. The UPA winning the confidence motion, that too with an unexpectedly margin, instilled further confidence in the bulls. And on Wednesday, they came out in full force. The Sensex and Nifty soared by almost 5 per cent by closing at 14,942 and 4,240, respectively. Though the FIIs pumped in money in the cash segment, they will probably remain bearish on India over the longer term.
After having a great run this week, the market slumped on Thursday but the Sensex did cross 15,000 on an intra-day high. BSE Oil & Gas and BSE Realty did manage to close in positive territory. The fall continued on Friday on the back of continued profit booking and weak global cues. The market ignored the stability in crude prices and steady inflation numbers. But though the market closed on a negative note, its weekly gains were higher than the week prior. The previous Friday (July 18) the Sensex closed at 13,635. Last Friday (July 25) it closed at 14,274.
There is just no saying how the market will behave anymore. Despite oil falling below $125/barrel, the WPI remaining stable and the government winning the confidence vote and promising to go ahead with the reforms - specially in banking and insurance - and disinvestment, the market slumped.

Popular posts from this blog

Historical Sensex Returns Updated - 2024

Historically Sensex has given returns of about 15% per year, despite volatility and price fluctuations of about -20% to +60%. The following table shows S&P BSE Sensex historical data - start  & close values and the yearly returns of the sensex from 2000 to 2024. So far during the year the   index has hit an all-time high of  75,124   and despite markets hitting all time highs not all stocks make all-time highs. There are many stocks still below their highs. Stocks like HDFC Bank, ITC, Asian paints are still well below their highs and some of them have given low returns over last 3-5 years. Individual or Retail investors can achieve consistent returns through investing via mutual funds , whether it be active or passive. Chasing returns from individual stocks is futile. Be a wise investor !

Mutual Funds - How to modify KYC or do rekyc?

Last year SEBI issued a circular effective April 1, 2024 regarding KYC norms for the securities market. This has created a lot of confusion among investors and intermediaries, whether who has to do rekyc and who need not? First check your KYC status from CVL KRA . If the 2nd column says KYC VALIDATED, then you are good to go - no action required. You can invest and redeem all the funds. If it says registered, you can invest in existing Fund houses. You have do rekyc to invest in new fund houses/ schemes. If it is on hold, you have to do rekyc.  You can do rekyc completely online from the AMC's websites, links of which are given below: Bandhan Mutual Fund - Bandhan Canara Robeco Mutual Fund - Canararobeco DSP AMC - Dsp Franklin Templeton Asset Management Franklintempletonindia HDFC Mutual Fund Hdfc ICICI Prudential Mutual Fund Icicipruamc Kotak Mahindra Mutual Fund  Kotak SBI Mutual Fund  Sbi Investors having KYC status of  'Registered' or 'On Hold' can complete thei...