POINT97AMC
Updated POINT97AMC
Updated NIFTY rose 0.46% on Monday, but it is still below its short and medium term averages and is down 1.56% over 20 days. The bounce was narrow: mid and small caps remain much weaker, with the midcap index down 7.55% over 20 days, and market fear has risen over the past month. All seven of our holdings rose, but they make up only about 4% of the portfolio, so most of our money stays in a liquid fund that earns interest while we wait. Since we started, the portfolio is up 0.043% while NIFTY 50 with dividends is down 1.69%, a lead that comes mainly from staying in cash. Over the next two weeks we are watching HINDALCO's results on 6 November and the results season for our other holdings.
The portfolio rose 0.05% in the last session while NIFTY 50 TRI rose 0.68%, helped by CGPOWER (+0.02% of the portfolio, stock +2.45%), GRASIM (+0.01% of the portfolio, stock +1.94%), HINDALCO (+0.01% of the portfolio, stock +1.82%). Cash in LIQUIDCASE added +0.02%.
| Holding | Intraday move |
|---|---|
| CGPOWER | +2.45% |
| GRASIM | +1.94% |
| HINDALCO | +1.82% |
| IREDA | +1.60% |
| EICHERMOT | +0.47% |
| SBIN | +0.23% |
| GICRE | +0.02% |
| LIQUIDCASEcash | +0.026% |
Entry and exit prices are rounded and averaged over every buy and sell of the stock. Gain since we bought and gain / loss: the price change from our average entry, before charges. Intraday move: each stock over the session (from our buy price for a stock bought that day).
PUBLISHED - The broad market has been weak. NIFTY 50 is down about 6% over three months, and smaller companies have fallen even more. Foreign investors have kept selling and market nervousness has risen, though domestic funds are buying and shares are cheaper than a year ago.
PUBLISHED - Manufacturing and industrial stocks have fallen about 9% in three months. CGPOWER is holding up much better than its sector, which softens the drag.
PUBLISHED - Auto stocks have fallen about 10% in three months and foreign investors have been selling. EICHERMOT is holding up better than its sector, which limits the damage.
PUBLISHED - Financial stocks have been weak and foreign investors have sold. GICRE is holding up better than most of the sector, so the effect on it is mild.
PUBLISHED - Infrastructure and cement stocks have fallen about 7% in three months, a little worse than NIFTY 50. GRASIM is moving close to its sector, so the effect is small.
PUBLISHED - Metal stocks have fallen about 10% in the past month and are trailing NIFTY 50. HINDALCO is falling with its sector, so the backdrop works against it.
PUBLISHED - Financial stocks have fallen about 7% in three months and foreign investors have been sellers. IREDA is falling faster than the sector, so the backdrop works against it.
PUBLISHED - Public sector banks have fallen about 3% in three months, which is less than NIFTY 50. SBIN is moving roughly with its sector, so the backdrop is neither a help nor a threat.
Tailwind: the sector and the market support the position. Headwind: they work against it. Neutral: mixed.
The first buy is only four days old and nothing new has happened. We are not buying more for now.
The stock is holding its recent low but is still weak overall. We are keeping what we have and not adding.
The stock bounced from a low but buyers have not shown up in force. We will wait for stronger signs before adding.
We already bought twice this week and nothing new has changed. We are holding and not adding.
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