Markets Overview

Nifty had a decent start to the week with two consecutive positive sessions taking the index to a fresh all time high at 22250 but a sharp sell resulted in giving back 375 points across just one session. Post 22nd Feb 2024, Nifty put up a very strong show to recover from the short correction and posted a new all time high as well on 23 Feb 2024 which also happens to be the second consecutive ATH weekly close

Benchmark Indices & WeekendInvesting Strategies Overview

Performance of all benchmarks ranged between 0.4% to 1% on the weekly front with Nifty Next 50 taking the top spot with 1% gains and Mid-Small 400 index at the bottom. Smallcap 250 continues to lead the FY 24 performance table with a handsome 72%. Nifty Next 50 has also done exceedingly well clocking 56%.

WeekendInvesting strategies had a good outing with a bunch of strategies outperforming their respective benchmarks quite comfortably. Mi 25 topped the weekly chart with 1.5% gains, a handsome outperformance compared to Smallcap 250 which clocked only 0.5%. Mi MT Allcap continued its solid run clocking 1.4% this week to take the second spot. Mi ST ATH and Mi NNF 10's performance hovered around the 1% mark while Mi India Top 10 gave up a bit of the gains.

Mi 20 continues to hold the top spot in the FY 24 table with a stupendous 123% gains followed by Mi 35 at 107%. Mi MT Allcap continues to remain robust nearing the 100% mark for the FY but the real highlight has to be Mi NNF 10 also around the 90% mark compared to only 58% gains on the Nifty Next 50 index. All strategies are looking extremely solid as we near the end of FY 24.

Sectoral Overview

The real estate sector continued its dominance, rising 4% this week and a staggering 137% for the year. FMCG, consumption, and infrastructure also saw gains, while PSU banks and metals took a breather after their recent surges.

Real Estate continues to dominate the FY 24 chart with a superior 137% gain followed by PSE stocks at 108% gain. AUTO's have done really well to clock 68% this FY 24 as well. PSU Banks took a pause this week with a loss of 0.8% but the FY gains still look very strong at 90%. PSE also lost a bit of ground this week but continue to find itself at the second spot of FY 24 chart with a handsome 108% gains.

PSU BANKS hold on to #1 across 2 weeks, 1 month and also on average totally confirming the presence of vigorous bulls. Real Estate has found it's way back to the top #2 having done well to recover from the recent slump. PSE has slipped to #3 owing to a relatively weaker last couple of weeks. AUTOs have been making silent progress raking in #2 spot on the fortnightly chart. COMMODITIES have slipped quite a bit along with METALS. BANKS have done quite well last week to occupy the #5 position making decent strides in the ranking.

Rebalance Update for the week !

WeekendInvesting Strategy Spotlight

Mi NNF 10’s impressive lead over it’s benchmark – Nifty Jnr

Mi NNF 10 has continued to be an exceptional performer for WeekendInvesting maintaining its consistent lead over the benchmark – Nifty Jnr index. Despite the short slump around Oct’22 – Jan’23, Mi NNF 10 has put on a superb recovery in FY 24 to once again claw back in to the 30%+ CAGR territory (12 Nov 2020 to 22 Feb 2024)

The important point to note is the healthy outperformed achieved by the strategy over the Nifty Jnr Index right since start.

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