For private circulation only

July 2017 Issue:II Vol: 54

K NOWL E DGE P OWE R . WE ALT H E NHANC E R

Stock Picks

INR Fund Picks

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Scheme Name

Performance as on 27/07/17

3Yr

Returns (CAGR)

5Yr

Company Name

(August future contract) (Sep future contract)

CPM (Rs) Target (Rs)

Mahindra CIE Automotive Ltd. 245 291

Federal Bank Ltd 113 134

Ashok Leyland Ltd 105 116

Global:

India:

MARKET UPDATE

UAE Round Up

Emirates Academy of Hospitality ranked among world’s top 10.

Abu Dhabi Global Market (ADGM) has announced the establishment of an arbitra-tion hearing centre on Al Maryah Island by early 2018. The move follows the recent development and agreement with the International Court of Arbitration of the International Chamber of Commerce (ICC Court), to launch its Middle East representa-tive o�ce in ADGM

32,309.88 10,014.50 21830.31 6374.68 64.16 $1,268.40 $49.71

YOUR TRUSTED PARTNER IN WEALTH CREATION

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Sundaram Select Midcap Midcap 23.79 27.68

HDFC Mid-Cap Oppor Midcap 22.84 27.37

Reliance Growth Fund Midcap 17.62 21.23

SBI BlueChip Fund-Reg Largecap 16.41 21.25

Kotak Emerging Midcap 35.32 26.18

SBI BlueChip Fund-Reg Largecap 20.30 20.35

HDFC Balanced Balanced 20.27 18.21

DSPBR Opportunities Flexicap 24.15 21.25

Index Started Week Ended Week Change Change% YTD %

DJIA 21580.07 21830.31 250.24 1.2 10.5

Nasdaq 6387.75 6374.68 -13.07 -0.2 18.4

S&P 500 2472.54 2472.10 -0.44 -0.0 10.4

Investors had a massive pile of earnings reports to work through this week. The results were generally positive, but equities still sold o� in some instances as many companies rallied for several weeks in front of their reports, pricing in much of the good news beforehand. The S&P 500 �nished the week just a tick below its �at line, the Nasdaq dropped 0.2%, and the Dow outperformed, climbing 1.2%.The stock market began the week with a rather range-bound performance on Monday as small victories from the top-weighted technology and �nancials sectors roughly canceled out losses from the nine remaining groups. Alphabet (GOOGL) helped carry the tech space, muscling one more win ahead of its earnings report, which crossed the wires on Monday evening.Alphabet reported better than expected earnings and revenues, but slid 2.9% on Tuesday nonetheless. In general, earnings continued to eclipse expectations on Tuesday with Caterpillar (CAT), McDonald's (MCD), DuPont (DD), and United Technologies(UTX) all beating earnings per share estimates. The positive results helped push the S&P 500 and the Nasdaq to modest victories and new record highs.The Dow joined the record-high club in the midweek session, outpacing its peers on the back of Boeing (BA). The airplane maker surged 9.9% after reporting better than expected earnings and raising its earnings guidance for the �scal year. Wireless giant AT&T (T) also moved solidly higher, adding 5.0%, following its latest quarterly report, which showed above-consensus earnings.Investors took a break, albeit a short one, from earnings season on Wednesday afternoon when the Fed released its latest policy directive. However, the release largely turned out to be a nonevent. The FOMC decided to keep the fed funds target range at 1.00%-1.25%, as expected, and noted that it expects to begin paring its balance sheet "relatively soon", which was interpreted by many to mean September.Earnings came back into focus on Thursday with Facebook (FB) headlining the lineup. The social media giant jumped to a new record high after reporting better than expected earnings and revenues, however, the company gave back a good portion of said advance as tech stocks began to sell o� in the afternoon, pushing the technology sector to the bottom of the leaderboard.Transports struggled mightily on Thursday, sending the Dow Jones Transportation Average lower by 3.1%. The DJTA's weakness was broad, but UPS (UPS) and Southwest Airlines (LUV) exhibited particular weakness despite beating earnings estimates. However, on a positive note, Verizon (VZ) surged 7.7% on better than expected revenues. Equity indices settled mixed with the S&P 500 losing 0.1%.Moving into Friday's session, investor sentiment was down mildly after Amazon (AMZN) reported worse than expected earnings on Thursday evening. The e-commerce giant dropped 2.5%, but the broader market held up relatively well with the Dow settling at another record high, its third in a row. Also of note, the advance estimate of Q2 GDP came in slightly below expectations (2.6% actual vs 2.8% )

From June lows of 9448, Nifty has rallied consecutively for the past four weeks gaining over 650 points or 7%. For the week, NSE Nifty and BSE Sensex gained by 1% each.The Federal Reserve kept interest rates unchanged over the absence of in�ationary pressure and indicated that future interest rate hikes will depend on key economic data from in�ation and wage growth. The FOMC agreed to keep its benchmark rate target at 1-1.25%.

President Ramnath Kovind was sworn in as 14th President of India. A political drama unfolded in Bihar as Nitish Kumar resigned as the Chief Minister on Wednesday and was sworn in again the next day as his party aligned with the BJP.Market-wide rollovers into August were just a little below average.

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MYTHS & FACTS

MFsMYTHS & FACTS ABOUT MUTUAL FUNDS

REAL ESTATE ROUND UP

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The weight of a standard gold bar is approximately 400 ounces, or 27.5 pounds.

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INVESTMENT IDEA

QUIZ

It’s

Time20.05.01

Which one of these is an advantage of a mutual fund?

a) You can double your money over �ve years

b) No capital gains

c) Instant diversi�cation

Share the answer at reply@barjeel.ae

The answer to the question along with the Winners Name will be published in the next issue of Market Digest. All the best!

MYTH: A SCHEME WITH A HIGHER NAV HAS REACHED ITS PEAK !

Premature Withdrawals of NRE & FCNR

Resident Forex Currency (RFC)

?

Disclaimer:(I) Investments in Financial instruments are subject to market risks, please read the relevant risk disclosure documents before investing.(II) Past performance does not guarantee returns in the future.(III) Barjeel Geojit Securities LLC (Barjeel Geojit) does not offer any products with guaranteed returns.(IV) You are aware and agree that your personal information provided by you through this document and or any other means such as website, social media, campaigns, etc. will be used by Barjeel Geojit for regulatory and business purposes.You permit Barjeel Geojit to update you the new offerings, changes and developments in the product offerings and regulatory environment(V) Barjeel Geojit does not sell personal data to third parties and all reasonable steps are taken to ensure strict confidentiality.(VI) Barjeel Geojit facilitates you to trade in the Indian Stock Market with Geojit Financial Services Limited. All your trade dealings, rights / obligations as an investor, rights / obligations to remedies in NSE and BSE executed through Geojit Financial Services Limited will be governed by the prevailing relevant rules and regulation in India and dealt with by Geojit Financial Services Limited.

Answer to the last quiz, Q. How often is the Net Asset Value calculated?

a) every working day

A bank should allow premature withdrawal of a term deposit. It can determine its own penal interest. Interest on the deposit for the period that it has remained with the bank will be paid at the rate applicable to that period and not at the contracted rate. No interest is payable where premature withdrawal takes place before completion of the minimum period prescribed. However, the bank, at its discretion, may disallow premature withdrawal of large deposits held by entities other than individuals and HUFs. The depositors should be made aware of the applicable deposit rate, penal rate and also possibility of disallowing premature withdrawal of large deposits while accepting such deposits.

Any person who was an NRI and now has become a Resident is eligible to open a RFC account, mainly for transferring his NRE and FCNR balances and the proceeds of assets held outside India to this account. The forex received as (i) pension, superannuation or other monetary bene�ts from the employer outside India; (ii) received or acquired as gift or inheritance from a person resident outside India (iii) sale of his assets abroad or (iv) received as the proceeds of life insurance policy, claims, maturity, surrender values settled in forex from an insurance company may also be credited to this account.The main aspect is that the funds in RFC account are free from all restrictions regarding utilisation of forex balances including any restriction on investment outside India.

Kindly post your queries if any here. We will get back to you soon. reply@barjeel.ae

Fact : This is a very common misconception because of the general association of Mutual Funds with shares. One needs to keep in mind that the NAV of a scheme is nothing but a reflection of the market value of the underlying shares held by the fund on any day. Mutual Funds invest in shares, which may be bought or sold whenever deemed appropriate by the Fund Manager depending on the scheme’s investment strategy (Buy-Hold-Sell). If the Fund Manager feels that a particular stock has peaked, he can choose to sell it. A high NAV does not mean the fund is expensive. In fact, high NAV indicates a good performance of the scheme over the years.

Fact :This is a common misconception. A mutual fund's NAV represents the market value of all its underlying investments. NAV of a fund is irrelevant, because it represents the market value of the fund’s investments and not the market price. Any capital appreciation will depend on the price movement of its underlying securities.

MYTH: MYTH : MUTUAL FUND SCHEME WITH A NAV IS ₹10 PER UNIT BETTER THAN MUTUAL FUND SCHEME WHOSE NAV IS ₹25 PER UNIT (OR A MUTUAL FUND SCHEME WITH LOWER NAV IS BETTER OR INVESTING IN NFOS ARE PREFERABLE THAN INVESTING IN EXISTING SCHEMES).

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