How has the global market performed?
Comparative: India's performance is much better YTD and leads the pack across all other horizons and
geographies
How has the Indian Market performed?
Market Performance
EQUITY OUTLOOK
The market is seeing a fairly sharp rotation from high quality growth stocks to value/PSU stocks which has accelerated
post state election results. Domestic liquidity has been strong and while FII flows are weak but the foreign interest
to invest in India is robust given stable growth and attractive currency fundamentals. The broader market continues
to outperform the headline index.
As the value stocks have done well over the last couple of years, we are selectively trimming exposure and reducing
our sector deviations. We continue to be largely overweight on domestic sectors compared to export and commodity
sectors.