Magnificent 7 I Accenture's forecast I Small Cap Funds

Global Fund Manager Survey by BofA

Magnificent 7 stocks continue to rule

• Tech (Software Consulting) stocks took a beating globally on the back of Accenture’s lowered guidance and apprehension
  

• Indian equities did well with Nifty crossing 22k again despite a bad Friday for tech stocks
  

• US markets continue to do well
  

• We remain cautious on Nasdaq for fresh infusions and positive on Indian large caps
  

• The INR fell against the USD which is generally a negative indicator for Indian equities in the very short term (though we believe unless it falls further, this might not impact the market direction as of now)

Happy Holi to all our readers

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