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“Demonetisation” has been one of the biggest decisions to have taken place since the reforms process began in 1991. The humongous process of transition from old currency notes to new ones is underway currently, and its effects, good or otherwise, will be known only as more time goes by. Even while this is a beginning in the right direction, it needs follow-up action too. Hence, for now, all eyes are focussed on minimizing the impact on the common man in the entire process.
During October, the outperformance of mid-caps over large-cap stocks continued with the Nifty Midcap delivering 3.3% returns while the CNX Nifty was almost flat, up a meagre 0.2%.
FIIs turned net sellers during the month after 7 consecutive months of buying. Their net outflows were to the tune of US$ 632 million in the month, while Domestic investors remained Net buyers with inflows of US$ 1.2 billion.
The Index of Industrial Production (IIP) figure came in positive in September at 0.7%, a slight but noticeable improvement over (-) 0.7% in August. The Wholesale Price Index (WPI) for October remained at 3.39% compared to 3.57% in September.
On the policy front, the Monetary Policy Committee (MPC) unanimously cut the repo rate by 25bps in its first policy meet. This was in line with market expectations. The GST council met over the month and appraised the proposal of a four-tier rate structure, with cess applied on the highest tariff for ultra-luxury items.
Internal, as well as external factors, are likely to affect the Equity markets and huge rounds of volatility cannot be ruled out. One should invest lump-sums during any major fall in the market, even while continuing & adding to existing SIPs.
Debt funds continue to be attractive in terms of their yield and tax efficiency in the current scenario, and offer a much superior alternative to traditional fixed deposits and bonds due to tax benefits, liquidity and a diversified portfolio.
At Eastern Financiers, we offer un-biased and need-based solutions to suit your investment profile.
Eastern Financiers has been a constant support in our financial initiatives. They assess your requirements and come up with tailor-made financial solutions just the way you like.
Ever since my organization has teamed up with Eastern Financiers, fiscal transactions have transformed into a smooth journey. I have learnt what is wise investment, with Eastern Financiers as my financial partner.
With Eastern Financiers by my side, my financial decisions are much wiser. These experts look deep into your worries and advise you on what is best for you. I have never found investing made so much easier!