Corporate earnings growth announced for the quarter continued to be strong. Continuing strong performance from IT services exports and manufacturing companies is leading to a buoyant environment for investment. On the other hand, concern over inflation is increasing. The government has been clamping down on inflation through reduced import duties on select products like cement, metals, etc along with some restriction on bank lending (focusing on the real estate sector).
Markets continued to do well during the month. The portfolio has been doing well in line with the markets. There seems to be some renewed interest in the mid sized companies and one has been seeing renewed buying in some of the value stocks.