About 70% of the Rs 1.44 lakh crore of inflows made their way into financial services, capital goods, automobile and auto ancillaries, data by NSDL showed.
The Nifty 50 net gained about 2% in the current quarter, compared to the 10% gains it clocked in the June quarter. Nine of its 50 constituents gave 10-26% returns in the September quarter. Of these 9 constituents, three are public sector companies. The nine stocks are Coal India, NTPC, Larsen & Toubro, Oil and Natural Gas Corp, Cipla, Tata Steel, Adani Ports and Special Economic Zone, Hindalco Industries, and Grasim Industries.
A study of the performance of BSE500 stocks in the last two years shows that there are 158 counters with negative returns during the period. But what has actually caused heartburn to those looking for consistent compounders is the hibernation phase of top wealth creators like Infosys, HDFC Bank, RIL, TCS and Asian Paints.
Indian equities may be trading closer to their historical averages on a forward earnings basis, but valuations in the broader market appear stretched. In light of this, Vivek Goel, of Tailwind Financial Services, recommends moving to a balanced portfolio and increasing allocation to hybrid funds to bolster debt exposure. Goel also suggests favoring largecap stocks due to their relatively lower valuations compared to the broader market.
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