Weekly Wrap-Up: September Week 4, 2023

Weekly Wrap Up

Are you regretting not getting out early when the Nifty50 was above 20,000? Or do you regret being greedy and investing  20,000, hoping the market will move higher?

Either way, you must be regretting your decision. However, even if the bull looks exhausted for this week after the downfall, there is a silver lining.

• The Nifty50 declined just 0.18% for the week, seeing a second-straight weekly loss
• Whereas the Nifty500 ended with a positive 0.19% return
• Amongst the sectors, Nifty Pharma, Healthcare, Media, and Nifty PSU Banks were major gainers.
• The IT sector saw capped overall gains, facing losses in the face of disappointing Q4 results.

Leaders & Laggards:

In the last week of September, ‘Quick Short’ and ‘Alpha Ally’ were the top performers with 8.67% & 3.36% returns, respectively.

On the other hand, ‘Nightcrawler’ and ‘BTST’ were two of the underperformers, with negative 0.33% and 0.18% returns in the same period.

• UNIONBANK, or Union Bank of India, is one of India's largest public sector banks. It operates under the ownership of the government. It was among the top performers with 20.60% returns as a part of the ‘Alpha Ally’ model.
• HUDCO, or Housing and Urban Development Corporation Limited (HUDCO), is a public sector undertaking in India that primarily deals with financing and promoting housing and urban infrastructure projects across the country. It was next in the list of top performers, with a 19.48% return, as a part of the ‘Alpha Ally’ model.

• ELECON, or Elecon Engineering, manufactures material handling equipment, industrial geared motors and reducers, mining equipment and casting processes, was among the underperformers, with a negative 18.10%, as a part of the ‘Sector Superstars’ model.
• TEXRAIL, or Texmaco Rail & Engineering Ltd, is involved in the business of manufacturing railway freight cars, hydro-mechanical equipment for hydropower projects, and a range of industrial structural products, the stock is second in the list with a negative 16.77% return, as a part of the ‘Sector Superstar’ model.

Reads On The Internet:

DixonTechnologies ties up with Xiaomi for manufacturing smartphones

Dixon Technologies' subsidiary, Padget Electronics, partners with Xiaomi for smartphone manufacturing in Noida, UP, India. Dixon sees this as a significant step in the Indian Government's "Make in India" initiative. Dixon views Xiaomi as an ideal ally for shared growth.

These companies from Dubai plan to offload shares in these Adani companies

Abu Dhabi's IHC plans to sell its 1% stakes in Adani Green Energy and Adani Energy Solutions, valued at ₹3,327 crore, without disclosing buyer details.

Know how increasing the trading hours will affect traders

The NSE proposes extending equity derivatives trading to 9 pm, potentially even 11.30 pm, enabling quicker response to global events. This aims to align Indian markets with international timings. The move seeks to enhance trading volumes and deter traders from shifting to competitors with extended trading hours.

SME IPOs are on fire, small-cap IPOs leading the pack

In 2023, the NSE SME Emerge Index surged by 71%, surpassing the 28% gain in the small-cap index. Notable SME IPOs, including Srivari Spices and Basilic Fly Studio, drove this growth. Out of 135 SME IPOs, 85 showed gains post-listing, with companies like Meson Valves and Kahan Packaging performing well. This indicates a promising outlook for the SME market.

Just a heads up, the stock market will be closed on October 2nd for Gandhi Jayanti, a national holiday in India celebrating Mahatma Gandhi's birthday. It's a day to remember his incredible contributions and reflect on his principles of peace and non-violence. So, there is no market hustle on that day—time for a break and some Gandhiji-inspired tranquillity!

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