Issue 2, 2018

Ghosh S., Chakraborty T. Active Investment and Investing Actively: An Empirical Study of Indian Stock Market

The stock market fluctuations sometimes perplex investors regarding their investment as it may lead to loss of their hard earned money. The different phases the market goes through is a matter of great concern for an investor. Portfolio management is a dynamic concept as it requires periodic review due to frequent changes in information flows, money flows, and economic and non-economic forces operating in the country on the securities markets. This means that the portfolio created during a particular market situation may not prove to be beneficial in other market situations. Hence a proper risk return analysis in every situation is required in order to maintain the flow of positive return from the portfolio. In this regard, the paper aims at constructing portfolios during different market phases. It also depicts how it is possible to earn a positive return from the portfolio during any phase of the market. Keywords: investment, large cap, mid cap, small cap, portfolio, market phases, BSE Sensex.

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