Uncertain week for markets

Last Updated: Mon, Oct 15, 2012 06:17 hrs

The markets had a volatile week as investors fretted about the world’s economic prospects after the International Monetary Fund downgraded global growth estimates for 2012 and 2013. Closer home, Infosys started the second quarter results season on a weak note, after the software major lowered dollar revenue expectations for the year. Four of the six fund managers remained active between October 8 and 12.

Sr VP (Equity Research),Anand Rathi Financial Services

Prabhakar bought Cummins India, his only transaction through the week. he said the markets are entering a corrective phase ahead of the results season and if a close below 5,600 is seen, then there could be very swift correction. There would be better entry points and good stocks can be bought, based on results and guidance, he added. His top holdings include Tata Coffee, Sun Pharmaceutical Industries, Emami, Coromandel International and Pfizer. The net worth is Rs 10.56 lakh, up 5.6 per cent.

Head, Technical Research,Angel Broking

Kulkarni was the most active, as he picked Godrej Properties, Bank of India, Punjab National Bank, Infosys and Zee Entertainment Enterprises to be included in his kitty. Meanwhile, he cleared off Tata Motors, Rolta India and Prestige Estates Projects, with nearly 10 per cent gain.. He believes it would be crucial for the Nifty to cross 5,730 in the first half of next week. Failure to do so would increase the chances of a continuation of the current corrective move. He expects oil and gas and banking to lead the rally.

With this, his top five holdings are Godrej Industries, Shree Renuka Sugars, Bank of India, Punjab National Bank and Balrampur Chini Mills. The net worth is Rs 11.44 lakh, up 14.4 per cent.

Fund Manager, Centrum Wealth

Fernandes was inactive during the period under review. He says the markets are likely to remain positive in the near term, aided by the positives of government action, foreign institutional investor inflows and overall attractive valuations of the Indian market. Also, the second quarter results should be slightly positive. He maintains that large information technology companies would underperform.

As of now, BASF India, ITC, Karur Vysya Bank, Nesco and Bharat Electronics are his top five holdings. The net worth is Rs 10.72 lakh, up 7.2 per cent.

CMD, CNI Research

Ostwal added two new scrips to his portfolio, namely Karnataka Bank and Bharat Heavy Electricals. There were no sell calls. He is positive on the markets, as he expects a rate cut soon which will drive the market higher but with volatility. Speaking on Infosys’ results, he sees the guidance (expectation) to be a cause of worry but, overall, he believes the tech sector will not be outperforming.

Currently, Tata Steel, BF Utilities, Clariant Chemicals, Century Textiles & Industries and Bharat Heavy Electricals are his top picks. Ostwal’s net worth is Rs 10.55 lakh, up 5.5 per cent.

Fund Manager,Emkay Investment Managers

Shah, too, remained inactive during the week. His top holdings include IDFC, Exide Industries, Cipla, Hathway Cable & Datacom and Divis Laboratories. The net worth is Rs 10.56 lakh, up 5.6 per cent.

Sr VP and co-head equities,Motilal Oswal AMC - PMS

Tata Steel and Wockhardt were the two new picks for the week. On the other hand, profits were booked in Hindustan Zinc and IRB Infrastructure Developers. The markets are likely to head further upwards on improving industrial data and incremental reforms, says Badshah. On the Infosys results, he notes that the management undertone appears a trifle more confident as compared to the past two to three quarters.

His top five holdings are Crompton Greaves,Tata Steel, OnMobile Global, Multi Commodity Exchange of India and HDFC. The net worth is Rs 10.91 lakh, up 9.1 per cent.

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