In this week market made a smart comeback with
nifty rising over 2 %. However, weakness in the last two sessions cut profits
and pulled nifty back below the psychological 15000 mark. Improving macro
numbers and a strong showing from autos in February lifted sentiment, while
rising bond yeilds and weak global cues kept bulls in check. Last week sensex
added 1305 points to end at 50405 & nifty rose 408 points to finish at 14938 levels.
In Midcap stocks added 3% supported by the
adani power, aditya birla fashion, idbi bank, jsw energy, Tata Power Company,
au small finance bank, 3m india, irctc and bharat heavy electrical. However,
vodafone idea, bank of india, apollo hospitals enterprises, steel authority of
india, union bank of india, jindal steel & power ended lower.
In Largecap stocks jumped nearly 3 %
supported by the grasim industries, ultra tech cement, adani ports and special
economic zone, avenue supermarts, kotak mahindra bank, interglobe aviation,
hero motocorp and hdfc asset management company. Meanwhile, bank of baroda,
bharti airtel, indus tower and indusind bank ended lower.
The rise in metals prices is another
opportunity. The recovery is playing out nicely for steel companies such as
sail and iron ore companies like nmdc. Rain industries, one of the largest
global players for carbon products, are seeing a steady improvement in the
end-market—the global aluminium industry. Companies are shaping their
strategies to adapt themselves to the changed conditions, such as nestle. In a
very different industry, Wipro, through a large acquisition, has placed a bold
bet.The recovery is becoming broader. With travel picking up, safari is emerging
strongly from a difficult phase. We saw long-term promise in all irctc’s
monopoly businesses. We would expect volatility to continue, with pockets of
opportunity, with certain things that sold off potentially rebounding.
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