2020 Mid Year Review - YTD Market performance
market participants; while gold has also given decent return. Greed begins to overwhelm fears Despite a spate of terrible economic, political and geopolitical events, the greed has started to overwhelm the fears since the market made a panic bottom in March 2020. The midcap stocks have outperformed the benchmark indices, and the small caps have also started to catch up recently. (i) The benchmark Nifty is negative ~15% YTD (22 June 2020), whereas Midcap are down (-13%). Small cap index is down by 20%. (ii) Overall market breadth has turned marginally positive for the YTD. (iii) Foreign investors turned big sellers again after remaining net buyers in 2019. Domestic mutual funds bought more than the FPI selling. Net institutional flows have been thus positive YTD. However, in recent funds the net new flows into the equity mutual funds have slowed down. (iv) Pharma is the only sector that has retur...