Broadly, markets remained range-bound over the week. Returns in large cap indices were dragged down by weak performance of banking stocks.
High inflation numbers posted by US caused S&P 500 and Asian markets to remain volatile. The same impacted performance of Indian equities, even though Indian inflation numbers are in control.
In the coming weeks, Indian markets might remain volatile due to announcements by major brokerages stopping overweight stance on Indian markets. Strong earnings numbers and sustained low inflation could provide a potential boost to markets in the near-term.
Banking stocks fell sharply in the week following a broad-based sell off. Pharma index, which has been under pressure for a long time, also continued correcting.
IT stocks made a comeback after a period of lull.
Mutual Fund Industry Highlights
New ARN registrations rise 60%
After declining for three-straight years, new ARN registrations during April to September 2021 is 60% higher than the total registrations witnessed in FY 2021.
According to industry reports, the biggest reason behind the surge in ARN registrations is the restarting of physical examinations by NISM.
NFO's currently open
- IIFL Quant Fund
- Quant Value Fund
- IDFC Multicap Fund
