Prime Funds narrows the choice of the thousands of funds out there in the market into a list of 50-60 funds that you can pick from to invest. This quarter we have made some additions to gain from the renewed strength that the equity market is exhibiting, the recession fears in the US notwithstanding. There are some additions in the debt space as well, as yields moved up.
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Lately, it is not just India’s stock market that has been hopping all over the place like an impatient child. The bond market has been doing it too! India’s 10-year government bond yield, which sets the benchmark for all other debt instruments, climbed vertically from 5.8% in July 2020 to 7.61% in June 2022. But after that, it has been unable to make up its mind on whether to climb higher or pause for breath.
In the previous update on the Nifty 50 outlook, we had flagged concerns about the overbought breadth in the higher time frame and that the breach of 17,300 would trigger a deeper correction with heightened volatility. This scenario is currently unfolding in the Nifty 50 index.
Will the Indian IT sector slowdown as a result of a looming recession in the US? This is the question that many of you have asked us on the back of a sharp 32% correction in the Nifty IT index from its peak in January 2022. The next question is whether our ‘buy’ on one of the IT stocks is valid now and whether the same can be accumulated. We will try to answer these questions here.
Today, everyone seems to be part of Whatsapp groups, Telegram channels etc which specialize in giving stock tips. As an individual, it is an extremely demanding ask to keep searching for new stocks, new ideas etc. There is a constant bombardment of ideas and stock tips from the media- television channels, internet business websites, free data providers, charts, tipsheets and more.