Weekly Performance Report - Week 2: February 2023
The turnaround we expected from the market is finally here! The index is finally performing... and such is what we were hoping to share this week. Except, that is not the case.
Last week the sentiments remained cautiously optimistic, given the overnight rally in the western market and the fact that rating agencies maintained their stand on Adani.
At Investmint, we are happy that our models continue to grind results irrespective of how the markets fare. That's the thing about systematic trading; it just works. Back-Up is on a roll. With High-Five and Alpha Ally making a blockbuster re-entry.
Little did we know that we were walking on thin ice. The doom and gloom is back, with signs of recession resurfacing in the global markets. MSCI's decision to reduce its weightage with Adani again threw the coin for a toss, with its stocks touching lower circuits.
With Alibaba exiting Paytm, it didn't help when Zomato 'adjusted' its Q3 results, either.
Still, all bets are in play with Nifty MidCaps and SmallCaps, along with other sectoral indices closing in green this week.
We want to remind traders and investors that these circumstances are precisely why we should operate systematically. These are testing times, but then again, TGIF!
Have a great weekend folks.