Volatility rules the roost amid concerns on macroeconomy

Benchmark share indices ended flat in the week to May 31, amid high volatility, as most of the gains were wiped off by Friday's crash in which the BSE Sensex registered its biggest decline in 14 months.

Further, Reserve Bank of India governor D Subbarao said inflation still remained high and the central bank would take into account the current account deficit for policy decisions. Two of the six fund managers remained active during the week.

A K PRABHAKAR
Sr VP (Equity Research), Anand Rathi Financial Services

Prabhakar was inactive for the week. Prabhakar is of the firm belief that the worst is behind for the Nifty companies in terms of quarterly numbers. Going ahead, markets are going to see an upswing as the fall in commodity prices and cost cutting measures will start delivering.

Currently his portfolio consists of Cadila Healthcare, Reliance Capital, Mahindra and Mahindra Financial Services, Bata India and Tata Steel. Prabhakar's net worth was up 1.99 per cent at Rs 10.20 lakh.

SHARDUL KULKARNI
Head, Technical Research, Angel Broking

Kulkarni added a single scrip to his portfolio in the form of Astrazeneca Pharma India. His only holdings currently are Tech Mahindra and Astrazeneca Pharma India.

Kulkarni's net worth was up 22.48 per cent at Rs 12.25 lakh. (Click for tables)

NAVEEN FERNANDES
Fund Manager, Centrum Wealth

Fernandes added Bombay Burmah Trading Corp and Engineers India to his portfolio.

Fernandes remains positive on markets as the fall in commodity prices and good monsoon expected will help earnings to improve from June quarter. Also, earning cycle suppression seems to have bottomed out in the fourth quarter. Also, the rupee seems to be bottoming out at current levels, he added.

His top holdings include Karur Vysya Bank, MRF, ITC, Bombay Burmah Trading Corp and Engineers India.

Fernandes' net worth stands at Rs 11.46 lakh, up 14.58 per cent.

KISHOR OSTWAL
CMD, CNI Research

Ostwal remains inactive. Ostwal is of the opinion that the Nifty is heavily dependent on positions in the settlement. The open interest unwinding of 2.5 million shares the Nifty saw was a good sign and so a bounce back this week is likely. The immediate support for the Nifty is at 5,970 and in the worst case scenario, the index can slip to 5,900, below which there will be a cause of concern. On upside, 6,130 is the big resistance and above which 6,230 seems possible. Rate cut hopes on June 17 will drive the market higher.

His holdings are Indian Oil Corp, Reliance Industries, Power Finance Corp, Siemens and Tata Motors.

Ostwal's net worth was up 1.22 per cent to Rs 10.12 lakh.

SACHIN SHAH
Fund Manager, Emkay Investment Managers

Shah has a series of 'sell' calls over the last five trading sessions. Some of the prominent names were ICICI Bank, State Bank of India, Blue Dart Express and Sun Pharmaceuticals Industries. Shah believes the rupee depreciation is a serious issue, as this can bring the markets further down, shaking the confidence of investors.

As of now, his holdings are ICICI Bank, PTC India, Cipla, Divis Laboratories and Biocon.

Shah's net worth is at Rs 11.01 lakh, up 10.11 per cent.

TAHER BADSHAH
Sr VP and co-head equities, Motilal Oswal AMC - PMS

Badshah continued to make changes to his portfolio by selling United Spirits, Tata Steel and Multi Commodity Exchange of India. These stocks were replaced with HDFC Bank, Britannia Industries and Astrazeneca Pharma India.

His top holdings include Maruti Suzuki, Sundaram Finance, Bajaj Corp, Astrazeneca Pharma India and Nestle India. Badshah's net worth is at Rs 11.71 lakh, up 17.08 per cent.

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