Weekly Performance Report - Week 2: March 2023
After a series of bad overs, the hopes are up. The batter has been picking up pace, and with the last few balls, everyone's sure that we will see a six soon.
Oh wait, the ball is in the air, and everyone feels the thrill. Is this the break we were hoping for? Damn! The fielder has caught the ball. It's a catch-out.
That, dear friends, was the stock market this week.
An excellent week for minters, with most models having closed in green. Sadly, the same is not true for NIFTY, as global powers at play have pushed the index down -1.48%. While the index was assumed to be on a path to recovery, a massive 60% fall in US-based Silicon Valley Bank triggered a global selling. All sectors took a hit this week, with banks plummeting the most.
Power was the only sector that closed this week in green, up by 1%. The sentiments in the market run optimistic, with technical analysts expecting a pullback rally with positive momentum indicators, calling it an excellent time to buy the dip.
At Investmint, we prefer to remain systematic. The markets are as fickle as ever. Whatever is to happen tomorrow still remains anybody's guess.
High Five made a killing this week with 6.97% returns. Back-Up, Nightcrawler, and Long India didn't break records this week but still fared better than the index. Thank goodness, Nifty Rider has been short for a few days now.
Overall a good week for systematic traders. Rest easy this weekend and celebrate in the spirit of Holi. We will see you back next week.