Dubai crisis singes markets

Dubai crisis singes markets

Rex Cano / Mumbai November 30, 2009, 0:38 IST

The markets succumbed to Dubai debt repayment crisis in the latter half of the week. The Smart Portfolios benchmark, the S&P CNX 500 index swung in a range of nearly 6 per cent - from a weekly high of 4,217 the index tumbled to a low of 3,967. The index finally ended the week with a loss of 1.9 per cent (79 points) at 4,069.

An investment of Rs 10 lakh in the benchmark's net worth is today valued at Rs 10.60 lakh, down nearly 2 per cent for the week. It is, however, up 6 per cent till date. Net worth of our fund managers also saw a depreciation of around 2 per cent each.

 

In the week under review, all four fund managers were active. While Ajay Parmar and Praveen Panjwani were on a sell mode, Amar Ambani and Phani Sekhar were net buyers. Cumulatively, the four money managers sold stocks worth Rs 3.82 lakh at the net level.

Barring Phani Sekhar, others have cash levels at Rs 3.10 - 4.50 lakh.

CHANGING TRACK
Praveen Panjwani Assistant Vice President, Edelweiss

After shopping aggressively in the preceding two weeks, Praveen Panjwani got into the sell mode last week. He executed 18 trades, of which just two were on the buy side. His fresh investments are KNR Constructions and HCL Technologies.
 

Top Holdings	% of  assets	Cost Price (Rs)	Current price (Rs)	Value (Rs lakh)
CMC	11.71	1070.28	1287.85	1.16
Guj Petronet	11.53	81.75	95.15	1.14
McNally Bharat	8.13	193.00	207.35	0.80
KEC Internl	5.41	530.25	563.95	0.54
VIP Inds	4.38	109.85	129.55	0.43
Total investments	68.48	-	-	6.78
Cash	31.52	-	-	3.12
Net worth	-	-	-	9.90
Returns (%)	-0.98	-	-	-

Panjwani booked gains on his investment in Wipro (6 per cent) and Cipla (4 per cent). However, he ended up making losses in a number of stocks such as IRB Infratech, Bharat Forge, IndusInd Bank and Hindustan Oil Exploration. Panjwani now holds 14 stocks in his portfolio, which is worth Rs 9.90 lakh, down 1 per cent. His net worth includes cash of Rs 3.12 lakh.

NEW-LOOK PORTFOLIO
Amar Ambani, Vice President (Research), India Infoline

Amar Ambani continued to churn his portfolio. Last week, he executed 19 trades, of which 10 were on the buy side. His gross purchases totaled Rs 4.92 lakh, while gross sales amounted to Rs 4.55 lakh. Dhampur Sugars and M&M Financial Services were two prominent profitable exits for the week.
 

Top Holdings	% of assets	Cost Price (Rs)	Current price (Rs)	Value (Rs lakh)
Mastek	5.18	339.80	362.25	0.54
Hikal	4.99	391.40	403.00	0.52
Kingfisher Air	4.95	51.50	51.95	0.52
IFCI	4.84	51.60	50.80	0.51
GMDC	4.69	126.75	126.20	0.49
Total investments	66.35	-	-	6.96
Cash	33.65	-	-	3.53
Net worth	-	-	-	10.49
Returns (%)	4.91	-	-	-

On the other hand, Ambani booked losses in 3i Infotech, Lanco Infrastructure and Anant Raj Industries among few others. Some of his fresh purchases were HEG, Hindustan Zinc, Kingfisher Airlines, Mastek and GMDC. Ambani's net worth is up 4.91 per cent to Rs 10.49 lakh, and this includes Rs 3.53 lakh in cash.

FULLY INVESTED
Phani Sekhar Fund Manager - PMS, Angel Broking

Phani Sekhar executed four trades last week, two each on the sell and buy sides. His gross purchases exceeded his total sales by Rs 30,290. While he exited from his loss-making investment in Bharati Shipyard, he made fresh entry into MphasiS and Tech Mahindra. Sekhar is fully invested, with 13 stocks in his portfolio.
 

Top Holdings	% of assets	Cost Price (Rs)	Current price (Rs)	Value (Rs lakh)
eClerx	10.64	344.25	376.55	1.05
Federal Bank	10.02	244.54	230.95	0.99
Reliance	9.92	1046.93	1045.95	0.98
Axis Bank	9.80	901.30	971.20	0.97
Reliance Infra	9.46	1183.00	1041.20	0.94
Total investments	99.80