Market - Overview :
0l Domestic benchmark indices fell around 3% in July, dragged down by weak global and domestic cues.
02 Markets began the month on a weak note on concerns over the persisting Greece debt crisis and sovereign rating downgrade of Portugal.
03 Later in the month, markets dipped on mounting worries over the US nearing a debt default on the lack of an agreement to raise the country's debt ceiling.
04 On the domestic front, a higher-than-expected interest rate hike by the RBI in its monetary policy on July 26 hurt interest rate-sensitive sectors like banking, real estate and auto.
05 Some losses were capped on the back of buying by foreign institutional investors (FIIs) ahead of the start of the April-June earnings season and on decline in food inflation numbers.
06 FIIs bought equities worth Rs 7,411 cr in July 2011, compared with a buying of Rs 3,311 cr in June; FIIs have been net buyers in equity to the extent of Rs 9,464 cr for the calendar year 2011 till July.
07 Intermittent positive cues were seen on hopes of the easing of Greece's debt crisis after European Union leaders announced a second bailout package and on hopes of a deal to increase the US debt ceiling.
08 Most of the BSE sectoral indices analysed fell in July, with the BSE Metals index the most negative (down around 7%), affected by stock-specific selling, mainly in index major SAIL, which fell over 8% on the Nifty.
09 Among sectoral gainers were the BSE Consumer Durables index (up 1.5%), BSE FMCG index (up 1.2%) and BSE Healthcare index (up 0.4%), as market uncertainty prompted investors to look for defensive bets.
10 Buying in small cap and mid-cap stocks helped the BSE Small Cap and BSE Midcap indices rise by 2% and 1%, respectively, in the month.
Top Stock Exposures - July 2011
1 ICICI Bank Ltd.
2 Infosys Ltd.
3 Reliance Industries Ltd.
4 ITC Ltd.
5 HDFC Bank Ltd.
6 Bharti Airtel Ltd.
7 Larsen & Toubro Ltd.
8 Tata Consultancy Services Ltd.
9 State Bank Of India
10 H.D.F.C. Ltd.
Top Sector Exposures - July 2011
1 Banks
2 Computers - Software
3 Pharmaceuticals
4 Refineries/Marketing
5 Diversified
6 Telecom - Services
7 Cigarettes
8 Oil Exploration
9 Power
10 Power Equipment
Note:- The month-end portfolios as on July 2011 and quarterly average assets under management (AUM) as of June 2011 have been considered for the report.
Absolute Monthly Returns %
July 2011 June 2011
Large Cap Funds - 1.17 2.73
Diversified Equity Funds - 0.39 2.41
Small and Midcap Funds 2.50 1.92
Balanced Funds -0.10 2.19
Monthly Income Plans 0.70 1.23
Long Term Gilt Funds 0.07 0.89
Long Term Debt Funds 0.83 1.09
Ultra Short Term Funds 0.70 0.76
Liquid Funds 0.68 0.68
0l Domestic benchmark indices fell around 3% in July, dragged down by weak global and domestic cues.
02 Markets began the month on a weak note on concerns over the persisting Greece debt crisis and sovereign rating downgrade of Portugal.
03 Later in the month, markets dipped on mounting worries over the US nearing a debt default on the lack of an agreement to raise the country's debt ceiling.
04 On the domestic front, a higher-than-expected interest rate hike by the RBI in its monetary policy on July 26 hurt interest rate-sensitive sectors like banking, real estate and auto.
05 Some losses were capped on the back of buying by foreign institutional investors (FIIs) ahead of the start of the April-June earnings season and on decline in food inflation numbers.
06 FIIs bought equities worth Rs 7,411 cr in July 2011, compared with a buying of Rs 3,311 cr in June; FIIs have been net buyers in equity to the extent of Rs 9,464 cr for the calendar year 2011 till July.
07 Intermittent positive cues were seen on hopes of the easing of Greece's debt crisis after European Union leaders announced a second bailout package and on hopes of a deal to increase the US debt ceiling.
08 Most of the BSE sectoral indices analysed fell in July, with the BSE Metals index the most negative (down around 7%), affected by stock-specific selling, mainly in index major SAIL, which fell over 8% on the Nifty.
09 Among sectoral gainers were the BSE Consumer Durables index (up 1.5%), BSE FMCG index (up 1.2%) and BSE Healthcare index (up 0.4%), as market uncertainty prompted investors to look for defensive bets.
10 Buying in small cap and mid-cap stocks helped the BSE Small Cap and BSE Midcap indices rise by 2% and 1%, respectively, in the month.
Top Stock Exposures - July 2011
1 ICICI Bank Ltd.
2 Infosys Ltd.
3 Reliance Industries Ltd.
4 ITC Ltd.
5 HDFC Bank Ltd.
6 Bharti Airtel Ltd.
7 Larsen & Toubro Ltd.
8 Tata Consultancy Services Ltd.
9 State Bank Of India
10 H.D.F.C. Ltd.
Top Sector Exposures - July 2011
1 Banks
2 Computers - Software
3 Pharmaceuticals
4 Refineries/Marketing
5 Diversified
6 Telecom - Services
7 Cigarettes
8 Oil Exploration
9 Power
10 Power Equipment
Note:- The month-end portfolios as on July 2011 and quarterly average assets under management (AUM) as of June 2011 have been considered for the report.
Absolute Monthly Returns %
July 2011 June 2011
Large Cap Funds - 1.17 2.73
Diversified Equity Funds - 0.39 2.41
Small and Midcap Funds 2.50 1.92
Balanced Funds -0.10 2.19
Monthly Income Plans 0.70 1.23
Long Term Gilt Funds 0.07 0.89
Long Term Debt Funds 0.83 1.09
Ultra Short Term Funds 0.70 0.76
Liquid Funds 0.68 0.68
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