MOSL: Morning India (16/September/19): 1. Fund Folio (Equity inflows at multi-month-high, defy market volatility); 2. P I Industries; 3. Financials – NBFC; 4. EcoScope; 5. Healthcare
MOrning India (16/September/19): 1. Fund Folio (Equity inflows at multi-month-high, defy market volatility); 2. P I Industries; 3. Financials – NBFC; 4. EcoScope; 5. Healthcare
Today’s top research theme
Fund Folio: Equity inflows at multi-month-high, defy market volatility
- Despite market volatility, MF popularity remained intact with steady inflows and SIP contribution (INR82.3b in Aug'19).
- MF AUM increased 3.8% MoM to INR25.5t, primarily led by inflows in liquid/equity oriented schemes.
- Equity scheme (incl. ELSS/arbitrage) inflows at INR151b were highest since Feb'18, led by lower redemptions (-26% MoM to INR120b), even as gross sales declined 10% MoM to INR271b.
- Sector and stock allocation of funds changed notably from last month. Weight of Oil & Gas, NBFCs, Tech, Autos, Retail, Healthcare and Consumer increased, while that of PSU Banks, Metals, Utilities, Capital Goods, Private Banks, Infrastructure and Media moderated.
- Oil & Gas' weight increased for second straight month to 8.0% (+50bp MoM/+120bp YoY) - closer to all-time high of 8.1% (Mar'19). Auto's weight increased 10bp MoM to 5.5% after trending down for 15 months. Consumer's weight hit a new high of 8.2% (+10bp MoM, +40bp YoY).
Piping hot news
Oil jumps the most ever after drone attack cuts Saudi supplies
Global oil prices surged the most on record after a drone strike on a Saudi Arabian oil facility removed about 5% of global supplies. In one of the most dramatic oil market opens, Brent futures jumped almost $12 a barrel in the seconds after trading started on Monday, the biggest advance in dollar-terms since they were launched in 1988. State energy producer Saudi Aramco lost about 5.7 million barrels per day of output on Saturday after 10 unmanned aerial vehicles struck the world’s biggest crude-processing facility in Abqaiq and the kingdom’s second-biggest oil field in Khurais.
Motilal Oswal Financial Services Ltd. is a reputed name in Financial Services and Online Trading with group companies providing services such as Private Wealth Management, Retail Broking and Distribution, Institutional Broking, Asset Management, Investment Banking, Private Equity, Commodity Broking, Currency Broking, Principal Strategies & Home Finance.
Motilal Oswal Securities is a group company of Motilal Oswal Financial Service Limited which started as a stock trading company and has blossomed into well diversified firm offering a range of financial products and services. Motilal Oswal has built a reputation as the source for best stock trading company and this has taken a wealth of experience, knowledge and expertise, constantly working in tandem, over the years.
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