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India's Third Giant Leap

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Samvat 2073 Begins...
Sun, 30 Oct Pre-Open

Dear Reader,

Let us start of by wishing you a very happy Diwali and a prosperous year ahead.

As Samvat 2072 comes to an end, let us take a moment to review the year gone by.

The Indian markets registered gains on a YoY basis. Samvat 2072 began on November 11 last year. That day, the Sensex had closed at 25,866 level. At Friday's close, the index is up 8% for the Samvat year.

However, the ride has not been that smooth. Benchmark indices have remained volatile owing to various global economic concerns at the start of Samvat 2072.

The global slowdown, led by a slew of economic events had its effect on Indian share markets. Some of the major global events that weighed on Indian benchmark indices were the monetary policies of the central banks, Brexit, the slowdown in Chinese economy, etc.

On the domestic front, we saw the Union Budget 2016-17 which promised big bang reforms. Then we saw the exit of Raghuram Rajan as the governor of the Reserve Bank of India (RBI). His chair was replaced by Mr Urjit Patel. A big reform during the year was the rollout of GST. GST has now become a law and is said to kick in during the upcoming financial year.

While some of the above developments bode well for the Indian economy, a lot of effort is still needed to repair the economy. Legendary investor Warren Buffett would agree when we say that only when the tide (i.e. liquidity) goes out, will investors find out which stocks were the strongest.

We believe investors will be far better served if the focus is on individual stocks by following a bottom-up approach to investing.

As always, we recommend buying stocks with solid fundamentals only when they are available at attractive valuations. Time will then work in your favour and provide you satisfactory returns.

In short, ignore the noise, stick to fundamentals and you should do well.

Have a great year ahead!

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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