Markets Overview

Nifty 50 was extremely volatile this week starting around 22500 levels and closing around a shade below 21900 levels losing almost about 600 points in the process. Overall, Nifty is exactly back to where it was around the end of February 2024 which means that we have just about given up the gains of the last couple of weeks. We are seeing a red candle on the weekly timeframe after four consecutive strong green candles and one can certainly argue that a profit booking phase may a bad thing after all in the middle of a bull run. But during such up trends, you never know how quickly things can turn around.

Benchmark Indices & WeekendInvesting Strategies Overview

Nifty 50 lost 2% along with CNX 200 and CNX 500 losing in the range of 2.7% to 3% but there was a sharper fall occurring in mid caps and small caps with Mid-Small 400 index losing about 4.8% and Smallcap 250 index dropping about 6%. Despite this correction. FY 24 numbers look still in tact with a couple of weeks to go for the end of FY.

WeekendInvesting strategies had a dull outing this week with majority of the strategies losing between 6% and 7%. Despite this correction, the strategies still have great numbers to show as far as the FY 24 performance is concerned with Mi 20 a touch below 100%, Mi NNF 10 and Mi 35 around the mid 80s. The main point to note is the outperformance of all strategies compared to their respective benchmarks over the longer time frame that WeekendInvestors have been able to appreciate since the beginning. Having continuous – linear performance may not be the best outcome as far as the markets are concerned. So, some corrections / consolidations to remove weak hands is always par for the course.

Sectoral Overview

BANKS, FMCG, PHARMA and IT did decent on a relative basis while sectors like REALTY, PSE, PSU BANKS, METALS, ENERGY, etc. took a beating or rather witnessed a bout of profit booking after their splendid performance in the recent times. IT has done quite well to recover and come back around its previous highs as GOLD seems to be making some noise too.

Complete change around of fortunes as AUTOs occupy the top spot on the momentum chart this week despite not being the best performer across any timeframe. The regular toppers of the recent past – REALTY, ENERGY, PSU BANKS & PSE have slipped to the absolute bottom owing to some fierce correction in the last couple of weeks. In the last 2 weeks, GOLD has come back roaring at #1 while BANKS are also quietly making a come back

Rebalance Update for the week !

Spotlight - HNI Capital Compounder

If you would have done a monthly SIP starting from Apr 2016 to Feb 2024, your total current portfolio value on the HNI Capital Compounder will be 28.5 lac (XIRR of 27%) compared to 17.9 lac on the CNX 200 index (XIRR of 16%).

Despite having equal number of winners and losers, HNI Capital Compounder’s ability to ride winners for long and dump losers early provides a solid edge against the benchmark. This is visible in the average gain / loss metric. Every winning stock gets you 26% on an average basis compared every losing stock that takes 9.6% away on average.

HNI Capital Compounder is going live on 17 Mar 2024 (Sunday) at 11 am for limited slots only. Use the link below to subscribe.

The WeekendInvesting App

The Weekendinvesting App is a one stop solution for everything about Weekendinvesting and Momentum Investing. This app gives users access to curated market content pieces, insights, performance metrics, momentum watchlists, discounts and many other exciting things. This app acts as a medium for us to provide direct support and resolve your queries.

Please write to [email protected] if you have any questions.