Weekly Market Insights: Markets touch all-time high

by Anushi Jain

Markets touched a lifetime high this week on the Friday closing. The last all-time high was in February 2021. The rally was driven mainly by large cap stocks and a surge in Reliance and banking stocks.

Weekly Movement of Key Indices

Declining covid cases, unlock being announced in various states and economy opening up can potentially set a base for fresher highs in the future.

Weekly Movement of Key Sectors

Pharma stocks halted their 9 week gain. Infrastructure and construction stocks also saw some interest and surge after a long time.

Key Mutual Fund industry highlights

  • PGIM India Equity Hybrid Fund has changed its strategy and will include exposure in international equities in addition to Indian equities and debt. It is now one of the few hybrid funds in the market to include international equities in its allocation
  • Motilal Oswal Flexi Cap fund - the flagship fund of the AMC changed its fund manager. The scheme has been underperforming since 2018. It will now be managed by Mr. Siddharth Bothra who previously managed Motilal Focused 25 Fund.

NFO's currently open

  • Aditya Birla Sun Life Nifty 50 Equal Weight index Fund
  • ITI Value Fund