[17 Sep 22] Newsletter: IT Stocks Plunge, 5 Good Reads & Our Weekly Show! – Capitalmind

CM Team
Sep 17, 2022
IT stocks saw yet another week of weakness mirroring the fall in Nasdaq. A recession in the west is not good for the IT sector. IT stocks have been under selling pressure and the recent downgrade of the sector by Goldman Sachs just adds to the misery. Infosys and Tech Mahindra were the biggest losers losing as much as 9% within the week.
Banking stocks are seeing a lot of buying on the basis of newfound optimism in credit growth and stronger balance sheets. The leader of the pack was IndusInd Bank which gained close to 8% over the week.

Crude didn’t do much last week but Gold cracked by 3%. Gold is down 5% over the month and investors are questioning if gold can still be considered a hedge against inflation. Nifty was relatively having a good week until it cracked by ~2% on Friday and ended the week with a 1.6% drawdown.

The Sensex PE ratio is at 23.2 and here’s the comparison to the long-term range

(Get this newsletter in your inbox each week. If you’re reading this on the website, click here to subscribe to the newsletter)
We do a weekly show with Deepak Shenoy where we talk about markets, finance, and investing. A candid conversation to wrap up the week and a chance to interact with you all. Join in, every Friday, at 4 PM on YouTube.
Listen to the latest episode. And, don’t forget to leave a comment!

Capitalmind Wealth PMS is India’s lowest-cost Portfolio Management Service for investors who deploy INR 50 Lakhs and more. Already managing 1000+ crore across 700+ clients!
You can see more about our strategies at capitalmindwealth.com and their performance here.
Connect with us on @capitalmind_in or schedule a call with us by filling out this form
? Quick glance – Market Overview: Sensex 30 PE trend, Macro markers & Market Movers – Links we like: 5 good reads on markets & money – Capitalmind …
. – Market Overview: Sensex 30 PE trend, Macro markers & Top stocks of the week – Links we like: 5 good reads on markets & money – Capitalmind Show: Kya …
? Quick glance – Market Overview: Sensex 30 PE trend, Macro markers & Top stocks of the week – Links we like: 5 good reads on markets & money – …
Get access to our equity, fixed income, macro and personal finance research, model equity and fixed-income portfolios, exclusive apps, tutorials, and member community.

source

About Author

Staff Editor

See author's posts