The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
Against an offer of 4.55 crore shares of Adani Enterprises Ltd, only 4.7 lakh were subscribed, according to information available from the BSE. Adani Enterprises fell almost 20 per cent to below the offer price of its secondary sale as all the seven listed companies of the conglomerate took a beating in the aftermath of Hindenberg Reserach alleged that the group was "engaged in a brazen stock manipulation and accounting fraud scheme over the course of decades".
Lenders taking up incubator-style roles with small investments in start-ups
New retirement schemes from MFs offer Section 80C benefit but locks in your money for five years
Benchmark indices fell for the third straight day on Tuesday, with the Sensex falling over 153 points amid largely weak global markets as investors remained cautious ahead of the crucial Federal Reserve meeting outcome. Unabated foreign fund outflows also continued to weigh on the domestic equity markets. The 30-share BSE benchmark dropped 153.13 points or 0.29 per cent to settle at 52,693.57.
M&M was the top gainer in the Sensex pack, rising around 5 per cent, followed by Kotak Bank, Bajaj Finance, Nestle India, SBI, ICICI Bank, HDFC Bank and ONGC. On the other hand, NTPC, IndusInd Bank, Bharti Airtel and Maruti were among the laggards.
Equity benchmark Sensex dropped 329 points on Wednesday, tracking losses in index majors Infosys, Bajaj Finance and HDFC amid a mixed trend in global markets. The 30-share index slumped 329.06 points or 0.57 per cent to end 57,788.03. Similarly, the NSE Nifty fell 103.50 points or 0.60 per cent to 17,221.40.
The rupee plunged 58 paise to close at an all-time low of 81.67 (provisional) against the US dollar on Monday as the strengthening of the American currency overseas and risk-averse sentiment among investors weighed on the local unit. Moreover, escalation of geopolitical risks due to conflict in Ukraine, a negative trend in domestic equities and significant foreign fund outflows sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 81.47, then fell further to close at an all-time low of 81.67 against the American currency, registering a decline of 58 paise over its previous close.
Most NBFCs will have to slow down their loan growth. Some of the most leveraged will have to sell a part of their assets (or loan book) to banks to raise incremental capital. Others may have to knock on the door of their deep-pocketed parents.
The Sensex was mainly dragged by Reliance Industries, HDFC, HDFC Bank, ICICI Bank and SBI, which lost up to 3.35 per cent.
Asian Paints was the top gainer in the Sensex pack, rising around 3 per cent, followed by Kotak Bank, Axis Bank, HDFC Bank, Infosys, Reliance Industries and ITC. Broader NSE Nifty rallied 136.15 points or 1.02 per cent to its new record high of 13,529.10.
Foreign portfolio investors (FPIs) and mutual funds (MFs) have put in more money as anchor investors in initial public offerings (IPOs) in 2021 than any other year. FPIs' share of investments for the year stood at Rs 24,477 crore, nearly six times that put in last year and more than nine times the amount invested in 2019, the data from Prime Database showed. MFs have invested Rs 12,264 crore, four times than that invested last year and more than 10 times the investment in 2019. The total investment by FPIs and MFs put together this year is five times the amount invested last year. The amount contributed by MFs, however, is nearly half of that invested by FPIs.
ONGC was the top gainer in the Sensex pack, surging around 7 per cent, followed by IndusInd Bank, Infosys, Tech Mahindra, Reliance Industries, HCL Tech and TCS. On the other hand, HDFC, ICICI Bank, Axis Bank, SBI and M&M were among the laggards.
About 24 fund houses saw a decline in their debt AUMs in the past one year.
Last October's circular meant that downstream investment by such funds by way of subscription or acquisition of shares would have been considered "indirect foreign investment" if their investment manager or sponsor is owned or controlled by a non-resident. The finance ministry has now said that mutual funds that invest more than 50 per cent in equity shall be omitted from the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996.
HUL was the top loser in the Sensex pack, shedding around 4 per cent, followed by Maruti, HDFC Bank, PowerGrid, IndusInd Bank, HCL Tech and Bajaj Finserv. On the other hand, Axis Bank, SBI, ONGC and ICICI Bank were among the gainers. NSE Nifty fell 149.95 points to 13,817.55.
The rupee on Thursday closed at its all-time low of 78.32 (provisional) against the US dollar as strong American currency and persistent foreign fund outflows weighed on investor sentiments. At the interbank foreign exchange market, the local currency opened at 78.26 and finally settled at its all-time low 78.32, unchanged from its previous close. On Wednesday, the rupee declined by 19 paise to settle at an all-time low level of 78.32 against the US dollar.
IndusInd Bank was the top gainer in the Sensex pack, rallying around 8 per cent, followed by Kotak Bank, Reliance Industries, HDFC, Axis Bank and SBI. On the other hand, Hero MotoCorp, Tata Steel, Bajaj Auto and ONGC were among the laggards.
Most equity schemes have more than doubled their NAVs in 8 years, even if they entered at the pre-Lehman crisis peak
Equity benchmark Sensex rallied 487 points on Monday to close at a fresh lifetime peak, tracking gains in Infosys, HDFC twins and HCL Tech amid massive foreign fund inflows.
Benchmark indices bounced back after falling in early trade on Thursday and logged the fifth day of gain amid a decline in crude oil prices and foreign funds inflow. The 30-share BSE Sensex climbed 284.42 points or 0.51 per cent to settle at 55,681.95. During the day, it jumped 340.96 points or 0.61 per cent to 55,738.49. The broader NSE Nifty went higher by 84.40 points or 0.51 per cent to 16,605.25.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 6 per cent, ahead of its earnings announcement. Axis Bank, Kotak Bank, ICICI Bank and Bajaj Finance too surged up to 5 per cent. On the other hand, NTPC, M&M, HDFC Bank, Bharti Airtel and ITC were the laggards.
Titan was the top laggard in the Sensex pack, shedding 1.39 per cent, followed by HDFC, Axis Bank, Kotak Bank, HCL Tech and Tech Mahindra. On the other hand, Asian Paints, SBI, M&M, TCS, Bajaj Finserv and ICICI Bank were among the winners, spurting as much as 3.25 per cent.
SBI was the top gainer in the Sensex pack, spurting over 2 per cent, followed by TCS, Tech Mahindra, HUL, Bajaj Finance, Kotak Bank and Titan. On the other hand, IndusInd Bank, PowerGrid, Bharti Airtel, Asian Paints and HDFC Bank were among the laggards.
Kotak Bank was the top loser in the Sensex pack, falling over 4 per cent, followed by IndusInd Bank, Axis Bank, ONGC, HDFC Bank, Bajaj Auto and Reliance Industries.
Now govt employees to enjoy greater say in how their NPS corpus is invested. Younger employees should raise their allocation to equities in this very long-term investment instrument
The drop in net interest margin will separate the men from the boys, explains Tamal Bandyopadhyay.
Equity markets halted their two-day rally on Friday, with the Sensex tumbling 714.53 points amid weak global equities and selling in index majors Infosys, ICICI Bank, HDFC Bank and Reliance Industries. Continuous foreign fund outflows also dented sentiments. The BSE benchmark Sensex tanked 714.53 points or 1.23 per cent to settle at 57,197.15. During the day, it plummeted 776.96 points or 1.34 per cent to 57,134.72. The NSE Nifty also declined 220.65 points or 1.27 per cent to 17,171.95.
Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
With domestic savings rising, there is strong case that they may; but, equally, it may be premature to underestimate the potency of foreign flows.
Here's why value cost averaging scores over rupee cost averaging.
Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
On the Sensex chart, Axis Bank, Titan, IndusInd Bank, HDFC Bank, Dr Reddy's, HDFC and Asian Paint were major losers.
While discount brokers have managed to grow at a rapid pace, they have not been successful in capturing substantial market share in the above-40 age category.
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
Tata Steel was the top gainer among the Sensex constituents, surging around 8 per cent, followed by Axis Bank, Bajaj Finserv, ITC, Infosys, Sun Pharma, Kotak Bank, ONGC and UltraTech Cement. On the other hand, IndusInd Bank, Reliance Industries, Titan, Asian Paints and HDFC Bank were in the red.
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
Extending its losses for the fourth straight session, equity benchmark Sensex slumped 427 points on Friday, tracking weakness in Bajaj Finserv, L&T and Infosys amid a widespread sell-off in global markets. Relentless foreign fund outflows further weighed on the bourses, traders said. The 30-share BSE index ended 427.44 points or 0.72 per cent lower at 59,037.18. Similarly, the NSE Nifty plunged 139.85 points or 0.79 per cent to 17,617.15.
SBI was the top gainer in the Sensex pack, surging around 8 per cent. Tata Steel, Bajaj Finance, HDFC Bank, NTPC, Axis Bank and ICICI Bank also ended with firm gains. On the other hand, TCS, HUL, Bajaj Auto and Infosys were among the laggards.
