Amidst reducing covid cases, markets rallied through the week. Markets closed strongly on Friday led by a surge in banking stocks. The rally was broad based with small and midcaps also gaining momentum.
With Nifty breaking 15000, all key indices are close to their all-time highs. Investments in equity via SIP or STP are more suitable than lumpsums at these market levels
The week saw many top banks post their quarterly results. Strong earnings recovery and growth prospects in banking stocks, especially SBI fuelled the rally in banking stocks.
Key Mutual Fund industry highlights
- Data released by AMFI shows that retail investors account for over 90% of all MF accounts. 68% of the accounts are in equity oriented schemes. Average AUM per retail folio is Rs. 1.77 lacs
NFO's currently open
- Aditya Birla Sun Life Nifty 50 Equal Weight index Fund
- Parag Parikh Conservative Hybrid Fund
- Axis Global Innovation Fund of Fund