Most of the momentum stocks were up in this erratic market. This fortnight we downgrade eight A-grade stocks and add three
Gainers
Dhanalakshmi Bank emerged as the top performer among our A-grade stocks last fortnight, up 9%. Bank stocks have done well recently as fears about inflation have abated a bit but Dhanalakshmi Bank has done better than several leading bank stocks. Bombay Rayon...
We have turned neutral again but a decisive move is coming
When crude oil prices were around US$107 some time in the middle of March, in its run up to US$147, the Sensex at 16,000. At the time of writing this piece, crude is below US$107 and yet the Sensex is at 14,500. A sharp decline in crude prices (since the middle of July) has caused the Sensex to rise 23% from the bottom but the market...
Banks and software stocks among the A list had a great run last fortnight
Gainers
After months, weekly data on inflation showed a marginal decline in the past week. So bank stocks attracted a surge of speculative buying. At the same time, bankers don’t see a significant slowdown in loan disbursements due to a combination of factors such as the need to fund large projects through more of...
