Markets witnessed a mild relief rally after correcting for several weeks. Small and midcap indices rallied with higher intensity than large cap indices that were largely flat and range-bound.
Major movements that led to the relief rally is the onset of Diwali but more importantly positive signals from global markets. Global markets rallied upon a positive monetary policy meet wherein Fed signalled an uptick in the economy while also mentioning that reducing inflation does not mean interest rates would need to be increased immediately in the future.
Small and midcap stocks which are highly correlated to interest rate movement rejoiced the most upon this announcement.
Key events this week that will guide market movement are release of inflation numbers by India, China and the US. A close eye needs to be kept on FII selling numbers as well.
While most sectors rallied in line with the broader market, realty index outperformed benchmarks amid good earnings releases, strong sale numbers and more recovery in demand expected.
Mutual Fund Industry Highlights
White Oak acquired Yes MF
White Oak Capital group, a leading and reputed player in the PMS/AIF space is all set to enter the retail market post its acquisition of Yes MF which had an AUM of Rs 46 crore.
NFO's currently open
- IIFL Quant Fund
