Weekly Wrap-Up: October Week 4, 2023

Weekly Wrap Up

This week, the market volatility kept us on the edge of our seats as we witnessed a 3-day consecutive sharp decline in the Nifty 50.

• Out of the 4 trading days this week, 3 of them were notably dominated by the bears. However, today's remarkable market rebound was encouraging, as it rebounded from the critical levels highlighted in yesterday's report.
  
• The prevailing negative sentiments in the markets can be attributed to various factors, including the Israel-Hamas conflict, the increasing US treasury yields, rising US dollar rates, and significant FII selling.
  
• During times of uncertainty like these, many investors tend to seek safe-haven assets, leading to increased interest in commodities like Gold and Silver, while equities experience a downturn.
  

Amidst global tensions and turbulent markets, the Nifty 50 closed with a -2.53% loss for the week.

And, here’s how the models at Investmint performed in the same period.

Leaders & Laggards:

In the 4th week of October, ‘Quick Short’ & ‘Nifty Rider’ were the top performers with +1.57% and +0.67% returns, respectively.

On the other hand, 'BTST' and 'Back Up' were underperformers, with negative 2.60% and 4.61% returns in the same period.

• BSE or BSE Limited is an India-based stock exchange company. It was among the top performers, with 44.22% returns as a part of the 'Alpha Ally' model.
• ITI or ITI Limited, earlier known as Indian Telephone Industries Limited, is a central public sector undertaking in India. It was next in the list of top performers, with a 38.02% return, as a part of the 'Sector Superstars' model.
  

• AAVAS or Aavas Financiers, also known as Aavas, is a Jaipur based housing finance company known for providing home loans in the rural and semi-urban locations of India and was among the underperformers, with a negative 13.76%, as a part of the 'Buy High Sell Higher' model.
• IOB or Indian Overseas Bank is an Indian public sector bank based in Chennai. It was next on the list with a negative 13.53% return as a part of the 'Buy High Sell Higher' model.
  

Reads On The Internet:

‘India's startup ecosystem among top 3 today’: PM Modi at India Mobile Congress

Prime Minister Narendra Modi on Friday opened the seventh edition of the India Mobile Congress (IMC), a three-day event being held at the Bharat Mandapam convention centre in Delhi's Pragati Maidan, a venue that also hosted September's G20 Summit.

India is the broadband capital of the world; Jio installed over 10 lakh 5G sites: Akash Ambani

Akash Ambani on Friday announced that Reliance Jio's 5G rollout is powered by a 100% in-house 5G stack, designed, developed, and manufactured entirely by Indian talent. He said Reliance Jio has successfully installed more than 10 lakh (1 million) 5G cells across all 22 circles in India.

Premature withdrawal to be allowed on all FDs of up to Rs 1 cr

RBI has increased the minimum amount for offering non-callable term deposits to Rs 1 crore. Earlier the limit was Rs 15 lakh. So, customers will get an option to prematurely withdraw money from their fixed deposits (FDs) of up to Rs 1 crore.

China was top finished steel exporter to India in April-Sept: Govt Data

China emerged as the top exporter of finished steel to India. India imported 2.9 million tonnes of completed steel from April to September


JP Morgan upgrades India to 'overweight', includes 3 stocks in EM portfolio

JP Morgan has joined other prominent global brokerages such as Morgan Stanley, CLSA, and Nomura by upgrading India to an overweight rating.

Indian banks offer incentives to lift digital currency transactions

Indian banks is likely providing incentives to encourage the use of the central bank's digital currency, known as the e-rupee. This initiative comes as a result of the RBI's encouragement to increase transaction volumes. These incentives include giving benefits such as cash-backs and reward points.

This weekend, put aside your market research and enjoy some well-deserved family time. Plus, make sure to watch the upcoming ICC World Cup match, India vs England.

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