tumbling dice

the Nifty is increasingly a one industry index (banks at greater than 30 % of the weight) and interestingly the bank nifty is increasingly an HDFC and HDFC Bank weighted story

The Bank Nifty is close to the pre demonitization level while the cnx realty index is 20% lower

One of those pictures is wrong

Republican administrations move commodity prices higher and the Indian power and infra sectors need to be fixed over a much longer view

 There are 584 Indian Pharma manufacturing facilities subject to US FDA inspection

In the current climate that is 584 invitations for the feared 483 letters

IT management will be occupied with existensial hr concerns. The equivalent of Indian demonitization through US immigration policies. 

In the longer run this should encourage foreign capital to invest where the brains are (India) and the challenge will be providing exits (IPO's) in those markets

Short term pain

1. sell the index

2. sell pharma

3. sell IT

4. sell realty

5. buy power, gas, infra



















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