With a nudge and a wink, the Nifty has gone from it’s deeply negative zone just one week ago, into marginally positive territory for 2013:
Of course, as you can see, this is heavily skewed towards three sectors – FMCG, Pharma and IT. This is also reflected in the change in the weightage of these sectors in the Nifty (ITC is now the heaviest weight).
The last week has been huge, since Dr. Raghuram Rajan took over last wednesday evening. In the four trading days, we’ve seen some huge upmoves. This supposedly is true, recently, of all emerging markets, so I might be giving the good-old-RR a little too much credit.
And the year in a nutshell:
Still four months to go!