Markets snapped a five-week winning streak amid sell-off in global equities, coupled with weak fourth quarter earnings from major corporates such as State Bank of India (SBI) and Larsen & Toubro (L&T).
The proposed scale-down of the stimulus programme in the US raised worries that global liquidity would come under pressure and foreign institutional investors would scale down their investments in emerging markets such as India. Further, weak manufacturing data from China, the world's second largest economy, raised global growth concerns.
Four of the six fund managers remained active during the week. (Click for tables)
A K PRABHAKAR
Sr VP (Equity Research), Anand Rathi Financial Services
Prabhakar added Tata Steel, Mahindra and Mahindra Financial Services and L&T Finance Holdings to his portfolio during the week. At the same time, he booked marginal loss in Cummins India and Natco Pharma. Yes Bank, too, was cleared off with nearly six per cent gains.
Prabhakar is of the opinion that the Nifty rallied from the levels of 5,477 to 6,229 in just 26 trading sessions, which calls for some correction. In the current market scenario, the Nifty holding the level of 5,940 is important for reversal and in June, he expects Nifty to cross 6,357 and target 7,000 by end of 2013 or latest by March 2014.
Currently his portfolio consists of Cadila Healthcare, LIC Housing Finance, Mahindra and Mahindra Financial Services, Bata India and Tata Steel.
Prabhakar's net worth was up 3.23 per cent at Rs 10.32 lakh.
SHARDUL KULKARNI
Head, Technical Research, Angel Broking
Kulkarni sold his entire portfolio, booking losses in several scrips. The only buy call for the week was Tech Mahindra, which is the only stock in his portfolio at present.
Kulkarni expects a steep correction in markets.
Kulkarni's net worth was up 20.32 per cent at Rs 12.03 lakh.
NAVEEN FERNANDES
Fund Manager, Centrum Wealth
Fernandes had no buy calls for the week. He booked profits in Balmer Lawrie and Co.
Fernandes does not see a significant drop from the current levels, but expects consolidation in markets. He notes the only reason for the recent correction was the misplaced concerns of the US Fed and Bank of Japan winding up their quantitative easing, coupled with the poor results from SBI and L&T which make up about nine per cent of the Sensex.
His top holdings include Karur Vysya Bank, MRF, ITC, Nesco and Hindustan Zinc.
Fernandes' net worth stands at Rs 11.20 lakh, up 12.02 per cent.
KISHOR OSTWAL
CMD, CNI Research
Ostwal continued to remain on the sidelines.
Ostwal foresees a smart rally early next week as major rolls are still pending, now that only four days are left for the futures and options expiry. According to him, Nifty is likely to test 6,100 early next week and by Thursday, it can trade between 6,100 and 5,900.
Investors will do well to buy in the range of 5,950 and 5,900 and sell in the range of 6,100 and 6,150. Game changers on either side will be below 5,900 and above 6,235, he cautions.
His holdings are Indian Oil Corp, Reliance Industries, Power Finance Corp, Siemens and Tata Motors.
Ostwal's net worth was up 1.36 per cent to Rs 10.14 lakh.
SACHIN SHAH
Fund Manager, Emkay Investment Managers
Shah was inactive for the week.
Shah states the global macro trends triggered the sell-off in the last couple of trading sessions. However, there is always a possibility of some more profit-booking. Nifty may find strong support around 5,850 levels. As of now, his holdings are ICICI Bank, PTC India, Cipla, Divis Laboratories and Biocon. Shah's net worth is at Rs 11.11 lakh, up 11.13 per cent.
TAHER BADSHAH
Sr VP and co-head equities, Motilal Oswal AMC - PMS
Badshah had a series of buy and sell calls over the last five days.
Some of the prominent sell calls were Bajaj Auto, Kotak Mahindra Bank, Tech Mahindra, Wockhardt, DLF, HDFC Bank, Infosys and SBI.
His buy list included names like Bajaj Corp, Sundaram Finance, Tree House Education and Accessories, Nestle India, Idea Cellular and Sundaram Finance.
He considers that the market is likely to sustain above the current levels with not much downside.
His top holdings include Maruti Suzuki India, Sundaram Finance, Bajaj Corp, United Spirits and Nestle India.
Badshah's net worth is at Rs 11.76 lakh, up 17.58 per cent.
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