July 21, 2024   |   Read Online

Global Asset Class Performance over the past 10 years

Great chart to understand how todays winners are tomorrows losers and vice versa

• Markets had a much sought after correction globally with both Indian Indices and Nasdaq, with the latter closing below 18,000 levels

• Tech stocks had a good run up on better than expected results from Infy and Wipro (We have maintained that tech stocks are a good value gap play and not a structural play like old times. We would be suggesting partial profit booking on another 10% rise in these stocks if its within 3 months)

• This would be the first Modi government budget as part of a coalition and hence will be important to see the direction

• We recommend before the budget a) Get your asset allocation back on track as most portfolios could be skewed on equities and mid/small caps due to the massive up move and b) Keep money in the bank (not liquid funds as that will take 1 day for NAV allotment) for exploiting any potential downside during the week

• Despite tailwinds, market valuations don’t leave any room for headwinds which is a worrying scenario that demands a rebalance of the portfolio as mentioned above

• The rupee also trades at all time lows which is usually a precursor to market falls (though this factor is less impactful now due to lower dependence on FII’s)

Join us for our super successful Twitter (X) Space on Tuesday night at 10pm with Neil Borate and Gabbar

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Our founder’s view in the Business Standard on how balanced advantage funds are great for investors during such times