Smallcaps in murky waters
The pack that led from the front in this bull rally has hit a key metric’s peak level at which the smallcap pack had dived into the bear market in the past three occasions. Edelweiss said in a note: “History shows that usually when this happens, the next 12–24 months spell trouble for the smallcap space.”
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Taper-proof bets
The recent rally in FMCG, IT and pharma stocks clearly shows the trend of Dalal Street finding shelter under the safety of defensive stocks from the upcoming Fed’s tapering. Consumption stocks have an extra booster pushing them up higher other than the defensive play, opines Dalal Street veteran Deven Choksey.
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Happy days ahead of banks & financial blue chips
Banks and financials have been the laggards since the second Covid wave. Atul Bhole of DSP Investment Managers believes this pack is very attractively valued compared to its historical valuations and is also betting big on the profitability of largecap companies from this space in the near future.
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‘Tantrum’ unlikely this time
‘Taper tantrum’ of 2013 is still very fresh in the minds of market participants. With the Fed going into tapering this year, will there be a repeat of 2013? Most voices on the Street believe that markets won’t see andy knee-jerk reaction and the slump will be mild.
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Biggest bull market booster losing steam
If anything, this bull market has taught the market movers and institutional investors not to underestimate the retail investors. This new bunch of market entrants have kept the market buoyant to a large extent since April 2020. However, this group of market drivers are slowly taking their legs off the gas pedal, statistics show.
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