POINT97AMC
Updated POINT97AMC
Updated NIFTY rose 1.58% today and is up 4.66% over five days, helped by three straight days of foreign buying. The rise was narrow: large companies led, while mid-sized and smaller companies are still down over the last month. Most of our money remains in a liquid fund, so we gained little from this rally, but we also carry very little risk. We are not chasing the move. We are not adding a new position beyond that today. Next we are watching quarterly results from several of our holdings and whether the rally spreads beyond the largest stocks.
The portfolio rose 0.13% in the last session while NIFTY 50 TRI rose 1.58%, helped by DATAPATTNS (+0.02% of the portfolio, stock +2.86%), EICHERMOT (+0.02% of the portfolio, stock +3.15%), GRASIM (+0.008% of the portfolio, stock +1.08%), and held back by SBIN (-0.01% of the portfolio, stock -1.70%), CGPOWER (-0.008% of the portfolio, stock -1.23%). Cash in LIQUIDCASE added +0.008%.
| Holding | Intraday move |
|---|---|
| EICHERMOT | +3.15% |
| DATAPATTNS | +2.86% |
| GRASIM | +1.08% |
| GICRE | +0.62% |
| HINDALCO | +0.48% |
| IREDA | +0.06% |
| CGPOWER | -1.23% |
| SBIN | -1.70% |
| LIQUIDCASEcash | +0.009% |
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).
The broad market has recovered over the last month, and foreign investors have bought for three sessions in a row. Mid-sized and smaller companies are still falling, so the rally is narrow. Valuations are lower than a year ago.
The sector has been weak and is behind NIFTY. This stock has fallen further than the sector over the last month. The backdrop does not help.
Defence shares have lost ground against the wider market this month. This stock has fallen more than its sector. The backdrop is a headwind.
Auto shares fell sharply over three months but have started to bounce. This stock is doing better than its sector. The backdrop is mixed.
The financial sector is only mixed, and this stock has trailed it over both the last month and the last three months. It sits near the bottom of its yearly range. The backdrop is a headwind.
The infrastructure and building sector is rising and is beating NIFTY over both one and three months. This stock is rising with it. The backdrop helps.
Metal shares have fallen over the past month while the wider market rose. This stock has also fallen over three months. The backdrop is a headwind.
Financial shares have recovered a little, but foreign investors have been net sellers of the sector over the past year. This stock has fallen far more than the sector. The backdrop does not help.
Government bank shares fell on a day the wider market rose. They are also well behind NIFTY over three months. This stock has lagged its sector, so the backdrop is a headwind.
Pharma shares are at a yearly high and are beating NIFTY. This stock has lagged its own sector over the last month. The backdrop helps, but the stock is not leading.
Healthcare shares are near a yearly high, and a large hospital company reported profit up 38% on last year. This stock is beating NIFTY. The backdrop helps.
Tailwind: the sector and the market support the position. Headwind: they work against it. Neutral: mixed.
NH jumped on very heavy volume this week and is outperforming NIFTY, while hospital companies are reporting strong results. We want to buy a pullback to 1,840 a level where many shares changed hands, rather than chase today's price.
The stock jumped today, but on ordinary trading volume, so we are not buying more.
The stock has risen sharply and is close to our first sale level. We are not adding more now and will let the current position play out.
The stock is bouncing but is still in a weak trend. We hold what we have and are not buying more.
The stock fell back sharply on heavy selling today.