Mi50 finally closed the week at its All Time High at +52.46% for FY1617. This is in contrast with +13.6% for NSE50 and +18.3% for CNX500.
There were no changes this week as well.
The longest drawdown to-date of nearly 15% in November 2016 has lasted for about three months.
The current trades are doing well with more than half a dozen lurking in the near 100% gain category.
The diversification is quite distributed. A further segmentation of the “Industrial” segment probably is needed.
The internals of the Mi50 are robust. The current win: loss is about 4:1, much above the targeted 2:1 and the overall churn of 1.1x is also within expected realms of 1.5x churn per year.
The market is within a few pct of its ATH. I would expect it to wiggle around this mark for sometime before decisively breaking out to much higher ground.
The party is delayed due to loss of a family member recently. I don’t feel like celebrating. Have a Happy Weekend.