Metals with good amount of long positions built up to see strong upmove in April series

The April series seems to have opened with a huge bout of positivity. With Nifty closer to its previous highs and Bank Nifty venturing out into an unchartered territory, the bulls have all the reasons to be optimistic about the current market scenario.

One sector that is poised to take full advantage of this positivity is metals. The sector which has long been preparing itself for this move seems to be fully prepared to go full-out and perform itself in the April series. The fact that it closed with a big white candle pattern on the first day of April series, with a good amount of long positions built up, is indicative of a strong move to be anticipated in this sector.

In the monthly chart of Nifty Metals shown below, notice the hammer candle pattern marked in the blue arrow which falls at 50 percent Fibonacci retracement level.

Source:https://www.moneycontrol.com/news/business/markets/metals-with-good-amount-of-long-positions-built-up-to-see-strong-upmove-in-april-series-3731271.html

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March auto sales may be mixed amid high inventory, but these 2 stocks remain brokerages top picks

Automobile sales in March are expected to be mixed for the sixth consecutive month, citing high inventories, rising ownership cost and deferred purchases during general elections, brokerages said.

Passenger vehicles and two-wheeler sales are expected to be a mixed bag, while the commercial vehicle segment is expected to register weak growth during the month.

In a recent report, Emkay said channel checks indicate rising ownership cost, deferred purchases during elections and selective financing by non-banking financial companies (NBFCs) are constraining volume performance across the automotive segments in the near term.

In the last one year, the sector has been worst performer, with the Nifty Auto index falling nearly 24 percent, amid a liquidity crisis and weak festive season. In March itself, the index was down 1.5 percent as against a seven percent rally in the Nifty.

Motherson Sumi Systems (down 10 percent), Hero MotoCorp (4 percent), Tata Motors (4 percent), Bharat Forge (3.6 percent) and Maruti Suzuki (3.4 percent) were top losers during the month.

Emkay forecasts mixed domestic volumes in March, with growth in passenger vehicles but muted showing in other segments.

Motilal Oswal too expects the same. "While demand for passenger vehicles is partially supported by new launches, the same for commercial vehicle has been declining over the past two months due to weak demand from major end-user segments."

Passenger vehicles

Emkay said passenger vehicle volumes are expected to be positive in the domestic market, with nine and four percent growth for Mahindra & Mahindra and Tata Motors, respectively.

But Maruti Suzuki, the largest car maker, is expected to post a 11.5 percent year-on-year decline in total despatches in March due to weak demand trends in the key western, central and northern markets such as Maharashtra, Gujarat, Delhi and Madhya Pradesh, leading to continued high inventory levels, Motilal Oswal said, adding that dealer inventory stands at 45-60 days.

Two-wheelers

Sales in the two-wheeler segment are expected to be a mixed bag, with declines in Eicher Motors and Hero MotoCorp and growth seen in Bajaj Auto.

Emkay expects Eicher Motors and Hero MotoCorp to report a 12 percent and six percent decline in sales, while Bajaj Auto will post a 16 percent growth YoY.

The research house said competitive intensity has increased as a result of free insurance schemes by Hero MotoCorp and Bajaj Auto.

Dealer inventory days have significantly increased over the past few months and have reached historically high levels. Hero MotoCorp has the highest dealer inventory days at around three months, followed by two months for Bajaj Auto and TVS Motor Company, and one month for Royal Enfield.

After the gloom in January and February, Motilal Oswal said key channel partners are indicating weak retail sales across key markets in March too.

Source:https://www.moneycontrol.com/news/business/markets/march-auto-sales-may-be-mixed-amid-high-inventory-but-these-2-stocks-remain-brokerages-top-picks-3725911.html

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What makes this smallcap a good value buy?

Himatsingka Seide (HSL), one of India’s largest home textile majors and exporters, draws our attention on account of improving business fundamentals. Conclusion of capex cycle by H1 FY20, higher contribution from branded products, an uptick in utilisation rates and undemanding valuations make us bullish on the stock.

Q3 review

Positives

- Sales grew on the back of higher contribution from branded products (84 percent of Q3 sales)

- Gross and operating margins expanded noticeably because of a good product mix and full benefits of captive consumption (ie. yarn being utilised to manufacture bed sheets)

Negatives

- Forex losses resulted in other income declining sharply year-on-year (YoY)

- Depreciation and interest costs rose significantly YoY due to investments in the terry towel plant

- Tax rate increased marginally YoY

- The above factors led to a marginal reduction in PAT (profit after tax) margins

Why consider investing?

Capex intensity is waning

By September 2019, HSL’s terry towel facility is likely to be set up. Post this, barring regular maintenance capital expenditure, there is no big expansion plan.

Depreciation and financing charges, that rose noticeably in the past 4 quarters due to investments in the terry towel project, are likely to reduce from H2 FY20 onwards. This is because impetus will be laid on debt repayment. Consequently, bottom-line margins, working capital cycle and cash flows should improve.

Utilisation rates are likely to go up

In Q3 FY17, HSL expanded its bed sheet manufacturing capacity from 23 mmpa (million metres per annum) to 46 mmpa. Utilisation levels in respect of both (ie. original and new capacity) are stable at the moment. As the company’s order book (particularly for branded products) grows, there will be a corresponding uptick in manufacturing activities. This, in turn, should help achieve operating leverage.

Debottlenecking of bed sheet manufacturing capacity has been concluded in Q3 FY19, thereby resulting in an increase in capacity to the tune of 15 mmpa. This new capacity will be utilised for manufacturing products that yield lower realisations, implying that sales growth, to this extent, will be volume-driven.

Once the terry towel facility becomes operational, utilisation levels should start moving up too.

Sale of branded products on an uptrend

In 9M FY19, brands constituted about 85.6 percent of the top-line as against 71 percent in FY18. HSL’s own brands are making their presence felt in the financials.

HSL will complete integration of manufacturing processes of the Tommy Hilfiger brand by Q4 FY19-end.

Rights to sell ‘Calvin Klein Home’ products globally have been acquired. Previously, HSL could sell products only in North America.

Since branded products, especially own brands and fashion bedding variants, command better realisations vis-a-vis their unbranded counterparts, HSL’s margins should start moving up gradually.

Risks

To mitigate risks associated with regional concentration, HSL is exploring markets in Europe and Asia. Nevertheless, at the moment, the US market alone comprises nearly 85-90 percent of HSL’s annual top-line. Therefore, Trump’s actions of withdrawing the preferential trade treatment granted to Indian exporters may affect the company’s future revenue visibility.

Indian Rupee’s appreciation vis-à-vis the US dollar would impact product realisations to the extent of unhedged cash flows. Raw material (cotton) costs are not showing any signs of moderation as of now.

Competitive pressure from nations such as Pakistan, Vietnam and Bangladesh continues to persist.

Signs of consumption slowdown in international markets can hit the order book.

Outlook

HSL’s stock price has been on a downward spiral during the course of the last 12 months. This is primarily on account of market volatility and YoY dip in PAT (profit after tax) margins since the last 3 quarters.

After a sharp 47 percent correction from its 52-week high, the stock trades at an undemanding 6.7 times its FY21 projected earnings. This makes it a good value buy.

However, it is pertinent to note that any meaningful re-rating in HSL’s valuation multiples may be seen only from H2 FY20.

Source:https://www.moneycontrol.com/news/business/moneycontrol-research/ideas-for-profit-what-makes-this-smallcap-a-good-value-buy-3724171.html

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Indices begin April series firm, Nifty above 11,600; Vodafone Idea gains 14%

Market Opens: It is a strong start for the April F&O series on Friday with Nifty above 11,600 level.

At 09:18 hrs IST, the Sensex is up 171.30 points or 0.44% at 38717.02, and the Nifty up 49.60 points or 0.43% at 11619.60.  About 592 shares have advanced, 203 shares declined, and 50 shares are unchanged. 

The gainers are IOC, Indiabulls Housing, Hindalco, Wipro, Tech Mahindra, RIL, BPCL, Can Fin Homes, Vodafone Idea, Jet Airways, PFC, REC while losers include Axis Bank, IndusInd Bank, Eicher Motors, SBI life and Motherson Sumi.

All the sectoral indices are trading in green led by metal, energy, infra, IT, pharma and auto.

Rupee Opens: The Indian rupee gained in the early trade on Friday. It opened higher by 10 paise at 69.24 per dollar versus previous close 69.34.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-indices-begin-april-series-firm-nifty-above-11600-vodafone-idea-gains-14-3722631.html

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Closing Bell: Nifty ends March series above 11,550, Sensex up 412 pts; PSU banks outperform

Market Close: Bulls took control on Dalal Street and pushed the Nifty above 11,550 on the March expiry day.

The Sensex was up 412.84 points at 38,545.72, while Nifty is up 136.50 points at 11,581.50. About 1633 shares have advanced, 979 shares declined, and 165 shares are unchanged. 

Indiabulls Housing, Zee Entertainment, HCL Tech, Adani Ports and SBI were the top gainers on the Nifty, while losers include ONGC, Tata Steel, Hindalco Industries, Dr Reddy’s Labs and Bajaj Auto.

Except metal all other sectoral indices ended in green led by PSU bank, IT, infra, FMCG, auto, energy and pharma.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-march-series-above-11550-sensex-up-412-pts-psu-banks-outperform-3714661.html

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Nifty around 11,500, Sensex up over 100 points; IT stocks lead

Market Opens: It is good start for the Indian indices on Thursday with Nifty above 11,450 level.

At 09:17 hrs IST, the Sensex is up 36.12 points or 0.09% at 38169, and the Nifty up 10.50 points or 0.09% at 11455.50. About 510 shares have advanced, 281 shares declined, and 31 shares are unchanged. 

Zee Ent, HCL Tech, Tech Mahindra, Infosys, Indiabulls Housing, Yes Bank, HPCL, BPCL, IOC, GAIL, Eicher Motors are among major gainers, while losers are Tata Motors, ONGC, JSW Steel, IndusInd Bank, Power Grid, Cipla, HDFC Bank and Tata Steel.

Except metal, auto and pharma, all other sectoral indices are trading with marginal gain.

Rupee Opens: The Indian rupee opened lower by  24 paise at 69.11 per dollar on Thursday versus previous close 68.87.

Source: https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-around-11500-sensex-up-over-100-points-it-stocks-lead-3714661.html

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Closing Bell: Nifty ends below 11,450, Sensex falls 100 points; bank stocks outperform

Market at close: It is weak closing for the benchmark indices on Wednesday after market erased all its morning gains in the later part of the day.

The Sensex was down 100.53 points at 38,132.88, while Nifty was down 38.30 points at 11,445. About 1189 shares have advanced, 1524 shares declined, and 152 shares are unchanged. 

NTPC, HPCL, Tata Motors, Bharti Airtel and Eicher Motors were the top losers on the Nifty, while gainers include Yes Bank, IndusInd Bank, Indiabulls Housing, JSW Steel and SBI.

Among the sectors, energy, auto, FMCG, infra, IT, metal and pharma remained under pressure, while some buying seen in the banking stock, with Nifty Bank ended above 30,000 level.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-below-11450-sensex-falls-100-points-bank-stocks-outperform-3707011.html

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Nifty Bank at record high; HDFC Bank, RBL Bank hit 52-week highs

The Bank Nifty hit an all-time high on March 27 as the rally in banking stocks continued for the second consecutive day.  The index surpassed its previous record high of 30,008 registered on March 22 and hit a fresh intraday high of 30,129.25 in the morning trade.

The rally was led by IndusInd Bank (up 3.8 percent), followed by RBL Bank (up 1.86 percent), Yes Bank (up 1.5 percent), PNB (up 1.3 percent), and Bank of Baroda (up 1 percent).

As many as two stocks in the Nifty Bank hit a fresh 52-week high. HDFC Bank surged to Rs 2,328.05, and RBL Bank rose to Rs 667.80 intraday on March 27.

Most experts feel that the rally is here to stay and investors can remain net long in the index with an initial target of 30,250. The support is seen at 29,500.

Source:

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United Breweries jumps 6% on report of Heineken raising stake in co

United Breweries shares rallied 6 percent in the morning trade on March 27 after a media report indicated that Heineken raised its stake in the company.

The stock was quoting at Rs 1,409.80, up Rs 61.90, or 4.59 percent on the BSE, at 0936 hours IST.

According to the report by CNBC-TV18 quoting unnamed sources, Heineken purchased an additional 75 lakh shares (representing 2.8 percent of total paid-up equity of company) of United Breweries through block deal at Rs 1,395 apiece.

Out of total promoter holding, Heineken held 43.7 percent equity stake in United Breweries and Vijay Mallya has 8.08 percent holding in the company as of December 2018.

Source:https://www.moneycontrol.com/news/business/markets/united-breweries-jumps-6-on-report-of-heineken-raising-stake-in-co-3707811.html

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Closing bell: Sensex jumps 424 pts, Nifty ends tad below 11,500; RIL, banks lead

Market Closing

Benchmark indices rebounded sharply after falling in previous two straight sessions, driven by banking & financials, and index heavyweight Reliance Industries.

The BSE Sensex rallied 424.50 points or 1.12 percent to 38,233.41 and the Nifty50 climbed 129 points or 1.14 percent to 11,483.30.

The Nifty Midcap index also gained over a percent but the market breadth was not so great.

About 1,377 shares advanced against 1,286 declining shares on the BSE.

NTPC, Reliance Industries, SBI, Vedanta and Bajaj Finance were leading gainers among Nifty50 stocks, rising 3-4 percent while Tech Mahindra, IOC, UPL, Infosys and Wipro lost 0.6-2.4 percent.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-jumps-424-pts-nifty-ends-tad-below-11500-ril-banks-lead-3700331.html

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Larsen & Toubro gains after hydrocarbon engineering division bags order

Larsen & Toubro shares gained nearly a percent in the morning trade on March 26 after its hydrocarbon engineering division bagged an order in Oman.

The stock was quoting at Rs 1,381.75, up Rs 4.55, or 0.33 percent on the BSE, at 1012 hours IST.

"The wholly-owned subsidiary L&T Hydrocarbon Engineering Limited has won a large order from Tawfiq Coke Products-Oman," the engineering and construction major said in its exchange filing.

The contract scope includes the selection of technology licensor, FEED & EPC for a 2 x 225,000 TPA plant of calcined coke from green pet coke.

"This award will further reinforce L&T's operations in Oman and provide an opportunity to contribute to the expansion of industrial facilities in Sohar," the company said.

Source:https://www.moneycontrol.com/news/business/markets/larsen-toubro-gains-after-hydrocarbon-engineering-division-bags-order-3700871.html

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International Market Updates

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Sensex marginally higher, Nifty inches towards 11,400; Jet Airways rallies 7%

Market Opening:

Benchmark indices opened marginally higher after a selling pressure seen in previous two consecutive sessions.

The BSE Sensex rose 51.28 points to 37,860.19 and the Nifty50 gained 31.90 points at 11,386.20.

Indiabulls Housing, Zee Entertainment, Eicher Motors, GAIL, Adani Ports, Bharti Infratel and Reliance Industries were early gainers.

Infosys, TCS, Tech Mahindra, HCL Technologies, JSW Steel and Power Grid were under pressure.

Nifty Midcap index was up 0.5 percent.

Jet Airways rallied 7 percent after Naresh Goyal and his wife stepped down from board.

Kalpataru Power Transmission gained 4 percent.

ICICI Prudential Life lost 2.5 percent.

Rupee Opening

The Indian rupee opened higher at 68.88 against the US dollar on March 26, 2019.

It appreciated by 5 paise compared to Monday's close of 68.93 to the dollar.

"The rupee ended mildly higher, on March 25, recovering from its intraday lows of 69.17. RBI three-year dollar-rupee swap auction will be held today. The move in the rupee will be keenly watched ahead of RBI’s monetary policy meeting next week," ICICI Securities said.

The brokerage further said the slump in US yields could cap the dollar's ability to appreciate sharply.

Investors continue to await the US-China trade talks outcome while ongoing Brexit uncertainty is also weighing on risk sentiments, it added.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-sensex-marginally-higher-nifty-inches-towards-11400-jet-airways-rallies-7-3700331.html

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Nifty may consolidate ahead of March expiry; HDFC Bank, ICICI, SBI top bets

Since the index is already up for 12-13 trading sessions, one should wait for some price and time correction to take place to initiate fresh long positions, Arun Kumar, Market Strategist, Reliance Securities, said in an interview with Moneycontrol’s Kshitij Anand.

Q) What is fuelling a rally in Nifty Bank and near-term target? Any stocks particularly in that index which are still looking attractive after recent rally?

A) The sharp breakout of NiftyBank index seen on March 5, 2019, triggered bullish signals on a near-term basis. On March 7, the Bank index surpassed its high of 27,754 recorded on January 9, 2019, on a closing basis.

This move confirmed the breakout and attracted long-term participation. Stocks, especially Axis Bank and ICICI Bank, improved the bullish sentiments with their sharp rallies.

Since the index is already up for 12-13 trading sessions, one should wait for some price and time correction to take place to initiate fresh long positions.

HDFC Bank, ICICI Bank, SBI and Axis Bank may be considered for going long, post the corrective action.

Q) Mid and small-cap stocks which have been hitting 52-week highs on consistently. Are they still worth looking at?

A) The NSE Midcap Index has consolidated around its long-term average for the past eight trading sessions and the index has moved up significantly after testing its 200-week moving average over the past five weeks.

Whereas, NSE Small-cap Index has been hovering just below its 200-DMA for the past nine trading sessions. It trades just below its 200-week moving average.

From a relative strength perspective (RSI), NSE Small-cap index displays better strength. Considering the behaviour of these indices against the benchmark, one must be very selective and trade in qualitative stocks.

Q) How is Nifty looking on charts ahead of the March F&O expiry?

A) The NSE Nifty50 Index is stretched on the near-term basis and may consolidate ahead of the expiry. Since the index is positive on a medium-term basis, we expect any corrective action to be limited. Ideally, it should hold above 11,250 on closing basis during next week to maintain its positive momentum.

Q) How are Airline stocks such as IndiGo, SpiceJet, and Jet Airways looking on charts?

A) IndiGo continues to rule the roost as the leader in this pack. It is the outperformer. The stock has scope to retain its leadership on a medium-term basis.

SpiceJet comes in as the second-best stock to trade and based on the setups it could generate positive returns on a medium-term basis.

However, Jet Airways has underperformed and there are no immediate signs of reversing this trend.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Source:https://www.moneycontrol.com/news/business/markets/nifty-may-consolidate-ahead-of-march-expiry-hdfc-bank-icici-sbi-top-bets-3686931.html

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These 30 stocks made most of the bull run, rallied 30-99% in a month

With D-Street riding a crest, stocks across sectors posted handsome gains.In the BSE 500 index, which gained 9 percent in 1 month, 30 stocks rallied in the range of 30 percent to 99 percent, which also include stocks that singed in September and October due to factors such as corporate governance issues, liquidity crisis and mixed earnings.

Suzlon Energy, Manpasand Beverages, Dilip Buildcon, Edelweiss Financial, CG Power, Bombay Dyeing, Adani Power, Allahabad Bank, Mahindra Holidays, NBCC, IRB Infrastructure, Just Dial, ICICI Securities, Kalpataru Power Transmission and Can Fin Homes were among the top 30 stocks.

On hopes of Modi government returning to power, FIIs are also in a bullish mood.

"After the clarity on the election results and earnings pickup, we feel, FIIs will do historic investments this year," Foram Parekh, Fundamental Analyst – Equity, Indiabulls Ventures, told Moneycontrol.

The most favoured stocks in this run were among midcaps and smallcaps.

In Nifty50, top four stocks were from PSU segment. They were HPCL (up 35 percent), IOC (up 29 percent), BPCL (21 percent) and NTPC (21 percent) while the rest five among top 10 stocks were from banking and financial segment. Yes Bank, Bajaj Finserv, IndusInd Bank, ICICI Bank and SBI gained 15-17 percent.

Source:https://www.moneycontrol.com/news/business/markets/these-30-stocks-made-most-of-the-bull-run-rallied-30-99-in-a-month-3683761.html

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Closing Bell: Sensex ends higher, Nifty holds 11,500; PNB gains 3%

Market Close: Benchmark indices ended mixed after they remained range bound throughout Wednesday. 

The Sensex was up 23.28 points at 38386.75, while Nifty was down 11.40 points at 11521. About 1104 shares have advanced, 1532 shares declined, and 173 shares are unchanged. 

Indiabulls Housing, Hindalco Industries, Infosys, Dr Reddy’s Labs and Wipro were among major gainers, while losers include HPCL, Zee Entertainment, BPCL, NTPC and ONGC on the Nifty.

Except bank, pharma and IT all other sectoral indices are ended in red led by auto, metal, energy, FMCG and infra.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-sensex-ends-higher-nifty-holds-11500-pnb-gains-3-3669791.html

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PNB climbs 3% after Nirav Modi's arrest in London

Punjab National Bank shares rallied 3 percent to close at Rs 93.55 on March 20 after reports of fugitive Nirav Modi getting arrested in London.

Modi, along with Mehul Choksi, is accused in Rs 14,000 crore fraud involving Punjab National Bank.

According to news agency PTI, the arrest came days after a London court issued an arrest warrant against him in response to a request by the Enforcement Directorate for his extradition in a money laundering case.

He will be produced at the Westminster magistrates' court on March 20.

The ED and the Central Bureau of Investigation (CBI) are investigating Modi, his uncle Mehul Choksi and others for alleged money laundering and corruption to perpetrate the alleged scam in the Brady House branch of the PNB in Mumbai that was unearthed in early 2018.

The stock lost nearly 70 percent from January 2018 to September 2018, followed by recovery in October 2018.

Source:https://www.moneycontrol.com/news/business/markets/pnb-climbs-3-after-nirav-modis-arrest-in-london-3673241.html

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Nifty flat, Sensex trades higher; ONGC top loser

Market Opens: It is a flat start for the Indian indices with Nifty below 11,500 level.

The Sensex is up 9.74 points at 38373.21, while Nifty is up 0.90 points at 11533.30. About 391 shares have advanced, 235 shares declined, and 41 shares are unchanged. 

Vedanta, Infosys, L&T, TCS and Axis Bank are the top gainers on the Sensex.

Rupee Opens: The Indian rupee opened lower by 8 paise at 69.05 per dollar on Wednesday versus Tuesday's close 68.97.

Source:https://www.moneycontrol.com/news/business/markets/stock-market-live-updates-bse-nse-nifty-flat-sensex-trades-higher-ongc-top-loser-3669791.html

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Closing Bell: Nifty ends above 11,450, Sensex gains 70 points; OMCs gain

Market close: The last hour buying helped the market to end higher on Monday with Nifty finished above 11,450 level.

At the close, the Sensex was up 70.75 points at 38095.07, while Nifty was up 35.30 points at 11462.20. About 1132 shares have advanced, 1545 shares declined, and 173 shares are unchanged. 

HPCL, IOC, Bajaj Finance, BPCL and JSW Steel were the top gainers on the Nifty, while losers include Maruti Suzuki, Hero Motocorp, Wipro, Bharti Airtel and HCL Tech.

Among the sectors, IT and auto index remained under pressure throughout the day as they slipped 1 percent each, while some buying was seen in the metal, energy, FMCG and bank names.

Source:https://www.moneycontrol.com/news/business/markets/closing-bell-nifty-ends-above-11450-sensex-gains-70-points-omcs-gain-3656321.html

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Sensex back above 38K: Here’s how you can allocate Rs 10 lakh right now

It is not the time to invest because of the massive up move we saw in the last few days. The market might be overvalued right now. If these are your thoughts, rest assured you are not alone.

History suggests that retail investors joined the rally near highs and booked profits or closed positions when the time came to add positions. Well, the market is certainly not at its peak but the risk-to-reward ratio might have come down at least for the near term.

But, if you plan to stay in the market for the long term – the time is still right, suggest experts, and efficient portfolio allocation would be the key for wealth generation.

The market has sprinted in March to reclaim lost glory as Sensex and Nifty both are above crucial resistance levels.

The S&P BSE Sensex has rallied 2,157 points, or about 6 percent, so far in March while Nifty50 has registered a vertical climb of 634 points, or 5.8 percent.

So, what fuelled the rally? Well, a host of global as well as domestic factors led to strong risk-on sentiment towards equities. The gush of liquidity from foreign institutional investors of about Rs 19,000 crores has been the major factor driving the rally.

“Weakness in the US dollar is normally positive for emerging market inflows and India has got more than the fair share of foreign inflows due to improving macro scenario and market sentiments,” Gaurav Dua, head of research, Sharekhan by BNP Paribas told Moneycontrol.

“Recent events have increased the probability of the NDA government gaining higher than earlier expected seats in the forthcoming elections boosting market sentiment. The rally is seen across financial markets - equities, bond and appreciation in the rupee despite the rising fears of fiscal slippages,” he said.

Time to put additional funds?

Experts feel that the time is fairly right for investors to get into market and dips, if any, should be used for making a diversified portfolio which leads to long-term wealth creation.

Here are views from various experts on allocation if you are looking to invest right now. We have taken Rs 10 lakh as investment corpus:

“The strategy at the current phase should be focused towards having a proper balance across different asset classes. And therefore, by keeping a long-term view, an investor can allocate 40 percent of total amount, say Rs 10 lakhs, in quality large-cap companies coupled with a marginal allocation of 10 percent in midcap/small cap companies which have to be backed by decent valuation,” Dinesh Rohira. Founder & CEO at 5nance.com told Moneycontrol.

“It is also practical to allocate 30-40 percent of overall allocation in debt instrument with short-to-medium maturity papers given a possible pause in interest rate regime going forward, and remaining 10 percent to be allocated in gold or gold funds,” he said.

He further added that while investing in equity, one should follow a staggered approach and gradually increase the allocation once the market stabilizes in a fair trend.

Source:https://www.moneycontrol.com/news/business/stocks/sensex-back-above-38k-heres-how-you-can-allocate-rs-10-lakh-right-now-3655141.html

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If you need more information about the Stock Market:

Visit: http://www.tradeindiaresearch.com