Redemptions from systematic investment plan (SIP) accounts scaled a new high of Rs 14,367 crore in July, indicating investors booked profits following back-to-back months of gains in the market. Volatility triggered by Budget announcements also played on investor sentiment. "July 2024 saw a peak in the Nifty, which may have prompted profit-booking among investors nearing the end of their goal tenure.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
The news that exports to the US will not restart before next year as well as the September quarter performance are sentiment dampeners.
The total number of unique investors directly investing in the stock market has surged to 80 million for the first time, with the latest 10 million additions taking place in just eight months, according to data shared by the National Stock Exchange (NSE), the country's largest bourse. "The 80 million unique PAN (permanent account number) investors correspond approximately to around 50 million unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via NSE's extensive nationwide network of trading members," said the exchange. In 2021, the number of domestic households were pegged at 300 million.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
You also avoid capital gains tax during redemption in case the gold price is higher, making them tax efficient.
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
'This colliding of worlds is a feature of chawl life in Mumbai, where the clashes in one household often become prime-time television for the neighbours; where the boundaries of good sex, lechery, and incest are frequently blurred,' says Sreehari Nair.
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