NooreshTech Weekly Insights - 17th March 2022
1) Insider Trading Alert
Amarjothi Spinning Mills Limited
Promoter bought 0.47% since Sep'20 to Dec'21. Bought more 80.9k shares since Dec'21 i.e. ~1.18%
Anil Kumar Goel held 3.56% until Dec'20 and added 3.2% more. Total holding 6.76%
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Smallcase performance vs Benchmark
2) Crude Backwardation
What is backwardation ?
Backwardation is when the current price, or spot price, of an underlying asset is higher than prices trading in the futures market.
When oil futures trade at lower levels than spot prices and near-term futures, that’s known as backwardation.Brent crude, the international benchmark oil price, was trading at its most severe backwardation since futures prices have been tracked.
Backwardation on 10th March 2022
Backwardation as of 17th March 2022
Written about backwardation multiple times
We see such mismatches when there are events like war, sanctions or other geopolitical crises. Generally this becomes a pivot point for markets where a long term top is in place for crude.
3) US FED Rate Changes v/s Nifty 50
Rate Hike Cycle
It's been observed that during the period of rate hike and periods when there are no rate changes, the Nifty has typically done well.
On the other hand, Nifty have fallen just after the interest rates start falling
4) Opening Up Theme
After the COVID cases have receded, some pockets which were worst impacted by Covid are now showing strength
Equiweight Chart – Hotels
Equiweight Chart - Retail
Equiweight - Theatres
Do let us know in the comments section if you have a take on any of the above observations!!
Happy Weekend !!
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