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8 January 2023
Sunday
Markets jittery in the first week of 2023
Equity markets witnessed volatility during the first week of 2023 tracking weak global cues and consistent selling by foreign investors. Investors hoped that the falling inflation in various countries across the world could trigger the major central banks to temper their aggressive monetary tightening. However, hopes were eroded that the Federal Reserve could pause its rating hiking cycle anytime soon as it keeps focused on inflation as was suggested in the Fed meeting minutes which reinforced expectations the central bank is likely to continuing raising interest rates. The minutes reiterated that officials continue to anticipate that ongoing rate increases would be appropriate to achieve the Fed's dual objectives of maximum employment and price stability. Meanwhile, Chinese stock market also continued to witness volatile trade on news reports Chinese officials would remove restrictions on property developer borrowing.
For the week, the Nifty ended lower by 1.4 pct to 17,859 levels while the broader markets fell less- the Nifty Midcap 100 and Nifty Smallcap 100 index fell by 0.3 pct and 0.8 pct respectively. On the sectoral front, Nifty IT index fell by 2.3 pct followed by 1.9 pct fall in Nifty Bank. Nifty Auto (up 0.1 pct) and Nifty FMCG (up 0.6 pct) were the only index that ended in the green.
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Share Name | Date | Entry Price | Target Price | Exit Price | Return % |
---|---|---|---|---|---|
Tata Motors | 19th Feb, 2019 | 102 | 250 | 242 | +237.25 |
L&T | 30th Mar, 2020 | 798 | 1500 | 1500 | +87.96 |
Titan | 30th Mar, 2020 | 850 | 1400 | 1400 | +64.7 |
Britannia | 30th Mar, 2020 | 2213 | 3600 | 3635 | +64 |
Hero Motocorp | 30th Mar, 2020 | 1588 | 2800 | 2557 | +61 |
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