As per the above table, we are not yet in a bear market, though it would seem to be just round the corner. But what the data shows is that the period taken to recover from the onset of a bear market back to regaining the previous peaks can be as short as three months or as long as 74 months.
The PrimeInvestor Auto++ smallcase puts together auto companies, auto component players, and other diversified companies that are involved in the design and technology transformations unfolding in the industry.
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We have been giving the outlook for the Nifty 50 over the past several months. With the market movements, there is no significant change that we can see from the stance explained in the earlier outlooks. Therefore, now, we turn our focus on two interesting sectors apart from the Nifty 50 – one that’s on the cusp of a recovery and the other.
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When markets are in a correcting mode, one sector that jumps to mind for its ‘defensive’ qualities is the FMCG sector. With their staple business, non-discretionary spending holds revenues in good stead. But FMCG companies have instead corrected about 20% from their October ’21 peak. Against the Nifty 50, they have been underperformers over the past two years. So, what gives?
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Last month, we analysed the cement industry in detail. In this analysis, we’d noted a few points – one, that there has been consolidation in the space, two, that companies had been deleveraging, and three, that margins have been under threat owing to pricier energy and inputs.
In our previous update on the Nifty 50, we had indicated that the short-term outlook for the Nifty 50 index was bearish and a drop to the March lows of 15,900 was likely. The subsequent price action has been in sync with our expectation and the Nifty dropped to a low of 15,735 last week. The key question now is whether the worst is over and whether we are now headed to fresh highs in the Nifty.
A year ago, when we did the result review of the IT stocks after the Q4FY21 earnings, the sector was moving to a new orbit on the back of robust growth prospects.
The Covid-19 pandemic increased the urgency of digital transformation for enterprises across the globe, and this paved the way for the IT sector to emerge as a strong growth story. Since we wrote about this last year, the sector has delivered stellar earnings performance during and post pandemic.
Godrej Agrovet is a conglomerate with businesses spread across the agriculture and protein supply chain. It is in animal feeds, palm oil extraction, agrochemicals, dairy and frozen foods. The business has commoditised parts, seasonal parts and valued added parts.
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