Saturday morning, friend's portfolio app open
Index basically flat for the week. His ONGC up 4 pct. His IndiGo down 3 pct. Same five sessions. Same Brent doing a 10 dollar round trip. Opposite signs underneath.
Brent week
105 to 96
peak to Friday close
Nifty week
24176 flat
net change near zero
Sector spread
~7 pct
amplifier vs negative-beta
The index is the average. The average hides the fact that some sectors earn more when crude rallies and some quietly bleed. Same print. Different sign on the P&L.