After tough market conditions in August and September, the benchmark indices recovered by 1.5-2.0% during October this year. However, volatility sustained within the range of a few hundred points on the Nifty in the earnings season. The close fight in the Bihar assembly election and mixed global news flow are adding to the nervousness in the Indian equity market.
During the last month, the Top Picks folio marginally lagged the benchmark indices with gains of 0.5% largely due to a correction in Lupin and Tata Consultancy Services after their weaker than expected results. On the other hand, the quarterly performance reported by Top Picks constituents like Reliance Industries, Maruti Suzuki and Zee Entertainment Enterprises was ahead of expectations.