It has been a year since we at Ampersand started penning our investment related insights through monthly newsletters. In this edition which heralds the fiscal ahead, we reflect on the past and once again attempt to highlight (1) broader market …
Favourable political outcome drive markets higher At the outset, let us remind our readers that but for highly uncertain situation arising until a few weeks into de-monetisation last November, we had turned constructive towards re-investing in Indian equities. However, just …
Hits and misses With every passing financial year, the bar for the Union Budget seems to be getting lower. So despite the 2017 budget turning out be an average one (barring the thrust on real estate and meeting the fiscal …
On to the Budget The Union Budget, to be presented next week, usually brings with it a set of expectations as well as fear. While fear was the dominant element last year, this year it seems more balanced leading on …
Demonetisation has introduced timeless uncertainty While currency de-monetisation undoubtedly would have positive implications on the way business is conducted here in India, the impact over the next year still seems unclear. In the interim, risk of extended damage to certain …
We had expected a prolonged corrective phase… We have been incessantly cautioning for a corrective phase in our stock markets mainly due to excessive valuations based of unrealistic growth expectations (Click previous newsletters since Aug – Eat light and sleep …
Markets in a satiated state Markets weakened at the margin over the past month despite the domestic rate cut and reduced chances of an upset outcome in the US elections. US Fed rate hike remains a key event in this …
Markets resilient but we remain firm Markets initially did weaken as per our expectations. However, the trend seems to have temporarily reversed over the past week, aided by benign data on domestic inflation and more importantly, the decision of both …
Corrective phase to persist In the July newsletter, we had opined that the corrective or consolidation phase will set in after the passage of the GST bill creates a near term peak. The correction may not be deep but could …
An opportunity it was indeed In our June newsletter, we had highlighted that uncertainty over Brexit vote and FOMC meet would induce stock market volatility, and the ensuing correction should be used as opportunity to increase exposure to Indian equities …