On February 1 the centre presented a farm-friendly, consumption-oriented budget ahead of the general elections.
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An important announcement was the doubling of income tax rebate for individuals. The finance minister, Piyush Goyal, announced full tax rebate for income-tax payers earning up to Rs 5 lakh per annum. With this, individuals earning upto Rs 6.5 lakh would not need to pay any tax if they invest Rs 1.5 lakh under Section 80C of the Income Tax Act. The standard deduction available to salaried taxpayers was also increased from Rs 40,000 to Rs 50,000.
A leaked National Sample Survey Office (NSSO) report shows that the country's unemployment rate is at a 45-year high of 6.1 percent. The government was put in the spotlight for not releasing the report despite being vetted by the National Statistics Commission in December. The government, however, claimed that the report was being processed and would be released once done.
DHFL was another stock that fell sharply during this week. amidst rising uncertainties in the NBFC space that froze credit-lending operations of the company, the company has lost more than 73 percent of its share price in the past four months. However, several fund houses had exposure worth about Rs 8,650 crore to DHFL and its group entities, as on December 31, 2018.
The fund houses with most exposure to shares of DHFL Group companies include:
Index Returns:
| Index | Weekly open | Weekly close | Change |
| BSE Sensex | 36,025.54 | 36,469.43 | 1.23% |
| Nifty | 10,780.55 | 10,893.65 | 1.05% |
| S&P BSE SmallCap | 14,000.20 | 13,950.45 | -0.36% |
| S&P BSE MidCap | 14,681.82 | 14,641.38 | -0.28% |
Source- BSE/NSE
Top 5 best performing funds:
| Name | Week | 3Y | Category |
| KOTAK WORLD GOLD | 10.3% | 10.5% | Fund of Funds |
| DSP WORLD GOLD | 8.4% | 12.0% | Fund of Funds |
| DSP WORLD MINING | 5.9% | 23.5% | Fund of Funds |
| EDELWEISS GREATER CHINA EQUITY | 4.0% | 14.2% | Fund of Funds |
| TATA DIGITAL INDIA | 3.7% | 13.4% | Sectoral |
Source – Kuvera.in
Top 5 worst performing funds:
| Name | Week | 3Y | Category |
| HSBC INFRASTRUCTURE EQUITY | -2.0% | 0.6% | Sectoral |
| HDFC INFRASTRUCTURE | -1.8% | 3.3% | Sectoral |
| IDFC INFRASTRUCTURE | -1.7% | 10.5% | Sectoral |
| IDBI MIDCAP | -1.4% | 3.3% | Mid Cap |
| RELIANCE POWER AND INFRA | -1.4% | 9.3% | Sectoral |
Source – Kuvera.in
Top 5 best performing ELSS funds:
| Name | Week | 3Y | Category |
| CANARA ROBECO EQUITY TAX SAVER | 1.6% | 13.7% | ELSS |
| MIRAE ASSET TAX SAVER | 1.6% | 21.2% | ELSS |
| DHFL PRAMERICA LONG TERM EQUITY | 1.5% | 13.1% | ELSS |
| INVESCO INDIA TAX | 1.5% | 14.6% | ELSS |
| BNP PARIBAS LONG TERM EQUITY | 1.5% | 10.1% | ELSS |
Source – Kuvera.in
Top 5 worst performing ELSS funds:
| Name | Week | 3Y | Category |
| MOSL LONG TERM EQUITY | -0.2% | 16.4% | ELSS |
| HDFC TAX SAVER | 0.2% | 13.6% | ELSS |
| ICICI PRU LONG TERM EQUITY | 0.3% | 11.8% | ELSS |
| KOTAK TAX SAVER | 0.3% | 15.0% | ELSS |
| AXIS LONG TERM EQUITY | 0.4% | 12.4% | ELSS |
Source – Kuvera.in
What investors bought:
We saw the most inflows in these 5 schemes –
| Name | 1Y | 3Y | Category |
| MIRAE ASSET INDIA EQUITY | -2.5% | 17.1% | Multi Cap |
| HDFC SMALL CAP | -7.8% | 19.7% | Small Cap |
| KOTAK STANDARD MULTICAP | -2.6% | 16.3% | Multi Cap |
| ADITYA BIRLA SUN LIFE TAX RELIEF96 | -4.5% | 14.7% | ELSS |
| UTI NIFTY NEXT 50 INDEX | NA | -5.4% | Index |
Source – Kuvera.in
What investors sold:
We saw the most outflows in these 5 schemes (excluding liquid and short-term schemes) –
| Name | 1Y | 3Y | Category |
| MIRAE ASSET EMER BLUECHIP | -6.2% | 17.2% | Large & Mid |
| ICICI PRU BANKING AND FIN. | -5.5% | 24.0% | Sectoral |
| HDFC TOP 100 | -2.5% | 16.8% | Large Cap |
| SBI MAGNUM MIDCAP | -16.1% | 7.1% | Mid Cap |
| HDFC BALANCE ADVANTAGE | -3.2% | 16.0% | Hybrid |
Source – Kuvera.in
Movers and shakers at fund house:
1/ Kotak Mutual Fund has announced that Kotak Global Emerging Market Fund, Kotak India Growth Fund Series 4,5 and 7 will be managed by Mr. Deepak Gupta, Mr. Devender Singhal, Mr. Harish Krishnan and Mr. Devender Singhal, respectively.
Quote of the week:
Gratitude unlocks the fullness of life. It turns what we have into enough, and more. It turns denial into acceptance, chaos to order, confusion to clarity. It can turn a meal into a feast, a house into a home, a stranger into a friend.
Melody Beattie
Manvendra Singh Rathore is an Analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.
First Published: Feb 2, 2019 9:23 AM IST
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