HImFasHIon: 2022-12-18

Saturday 24 December 2022

Mutual funds see muted growth in 2022, expect better days in new year

After a spectacular 2021, the mutual fund industry failed to continue the momentum this year with the growth in asset base, investors count and flows subsiding in 2022 on volatile market conditions, but the New Year is expected to be relatively better. The industry grew at a slower pace in 2022, mainly due to global headwinds, including the Russia-Ukraine war, supply chain bottlenecks and a decadal high global inflation coupled with rising interest rates. The 2021 growth was mainly braced by a rally in the stock markets. The assets under management (AUM) of the mutual fund industry rose by 7 per cent or Rs 2.65 lakh crore in 2022. This was way lower than a surge of nearly 22 per cent or an increase of close to Rs 7 lakh crore in the asset base seen in 2021, data from the Association of Mutual Fund Industry (Amfi) showed. Swapnil Bhaskar, Head of Strategy, Niyo, said the mutual fund industry growth in 2023 is expected to be in line with the current trend with estimated assets under .

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FPIs invest Rs 11,557 crore in equities during Dec; Covid to drive flows

Foreign investors have infused a net Rs 11,557 crore in Indian equities in December so far despite a market correction and increasing concerns over re-emergence of COVID in China and some other parts of the world. Going ahead, macro data from the US and COVID news will drive FPI flows and the markets in the near term, said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services. According to data with the depositories, Foreign Portfolio Investors (FPIs) invested a net sum of Rs 11,557 crore in equities during December 1-23. This comes following a net investment of over Rs 36,200 crore in November primarily due to weakening of the US dollar index and positivity about overall macroeconomic trends. Prior to this, foreign investors pulled out Rs 8 crore in October and Rs 7,624 crore in September, data with the depositories showed. "Despite correction in the markets, increasing concerns over re-emergence of COVID in some parts of the world and recession worries in the

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Mcap of 10 most valued firms erodes by Rs 1.68 trn; Reliance biggest drag

The combined market valuation of the top 10 valued firms eroded by Rs 1,68,552.42 crore last week, with Reliance Industries taking the biggest hit in an overall weak broader market. Last week, the Sensex tumbled 1,492.52 points or 2.43 per cent. Market sentiment remained weak amid surging COVID cases in China and a few other nations, while stronger US growth data cemented expectations of the Federal Reserve continuing with its hawkish stance. Reliance Industries' valuation tanked Rs 42,994.44 crore to Rs 16,92,411.37 crore. State Bank of India's market valuation tumbled Rs 26,193.74 crore to Rs 5,12,228.09 crore. The valuation of HDFC Bank eroded by Rs 22,755.96 crore to Rs 8,90,970.33 crore and that of Life Insurance Corporation of India (LIC) plunged Rs 18,690.03 crore to Rs 4,16,848.97 crore. The market capitalisation (mcap) of ICICI Bank diminished by Rs 16,014.14 crore to Rs 6,13,366.40 crore and that of Hindustan Unilever declined by Rs 11,877.18 crore to Rs 6,15,557.67 ...

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Friday 23 December 2022

Gold falls by Rs 600, silver unchanged; yellow metal trading at Rs 54,220

Ten gram of 22-carat gold was selling at Rs 49,700 after the price fell by Rs 550 from yesterday's close

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FTX founder Sam Bankman-Fried allowed $250 million bond, house arrest

The cryptocurrency entrepreneur Sam Bankman-Fried can post USD 250 million bond and live in his parents' home in California while he awaits trial on charges that he swindled investors and looted customer deposits on his FTX trading platform, a judge said on Thursday. Assistant US Attorney Nicolas Roos said in US District Court in Manhattan that Bankman-Fried, 30, perpetrated a fraud of epic proportions. Roos proposed strict bail terms, including a USD 250 million bond and house arrest at his parents' home in Palo Alto, California. An important reason for allowing bail was that Bankman-Fried agreed to waive extradition, Roos said. Magistrate Judge Gabriel W. Gorenstein agreed to the bond and also approved the house arrest proposal. He also said Bankman-Fried would be required to get an electronic monitoring bracelet before leaving the Manhattan courthouse. Bankman-Fried wore a suit and tie in court and sat between his attorneys. Two US marshals sat behind him. Bankman-Fried, arrest

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Sebi initiates detailed study of fees, expenses charged by mutual funds

Capital markets regulator Sebi on Friday said it has initiated a detailed study of fees and expenses charged by mutual funds. The study would endeavour to provide data as input for policy formulations, the Securities and Exchange Board of India (Sebi) said in a statement. The policies would seek to balance the need for facilitating financial inclusion, encouraging new participants, leveraging economies of scale, encouraging adoption of technology, discouraging cross subsidisation across schemes, closing arbitrage opportunities if any, and curbing malpractices if any. The regulator has commenced "detailed study of existing provisions applicable for fees and expenses in mutual fund schemes vis-a-vis market practices". Based on the study, if required, appropriate policy measures would be undertaken after following the established process of stakeholder as well as public consultation. The move is part of an ongoing exercise to continuously align regulatory provisions to reflect the ma

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IFFCO to soon launch nano DAP at Rs 600/bottle of 500 ml; sees huge savings

After introducing nano liquid urea, cooperative IFFCO aims to launch nano DAP fertiliser in the market soon at Rs 600 per 500 ml bottle -- a move that will help India save foreign exchange and also reduce government subsidy significantly. IFFCO is also planning to launch nano-potash, nano-zinc and nano-copper fertilisers, its Managing Director U S Awasthi said while addressing an agriculture conference organised by digital media platform Rural Voice. In June 2021, cooperative IFFCO launched nano urea in liquid form as an alternative to conventional urea. It has also set up manufacturing plants to produce nano urea. Awasthi said IFFCO has produced 5 crore bottles of nano urea so far, out of which 4.85 crore bottles have already been sold. He highlighted that the price of nano urea is less than conventional urea and it is also more effective and convenient. There is no government subsidy on nano urea and it is being sold at Rs 240 per bottle. For conventional urea, the government ...

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Thursday 22 December 2022

Landmarks Cars makes weak debut; stock lists 7% below issue price

Post listing, the stock extended decline and slipped 12 per cent below its issue price to Rs 446.45

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Gold rises in early trade, up by Rs 170; silver unchanged at Rs 70,100

Gold prices hemmed into a tight range in thin trading, as cautious traders awaited economic data due later in the day to gauge the Federal Reserve's rate hike stance

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Stocks to Watch: Aban Holdings, Landmark Cars, RIL, Lupin, Gail, JK Cement

Stocks to Watch Aban Holdings and Landmak Cars will be debuting on the stock exchanges on Friday. Both these stocks are likely to witness a tepid start to trade.

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Equity benchmarks slip for third day, Sensex finishes below 61,000 mark

Surrender early gains; banks, automotive stocks among biggest losers

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Wednesday 21 December 2022

Triveni Turbine, Triveni Engg trade ex-date for buyback; shares dip 6%

These companies had fixed December 23, as the Record Date for the purpose of determining the entitlement and eligibility of share holders to in the share buyback.

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ISRO में निकली वैकेंसी:28 साल की उम्र तक के ग्रेजुएट 9 जनवरी तक कर सकेंगे अप्लाई, 25,000 रुपए मिलेगी सैलरी

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Gold, silver rates rise in early trade; yellow metal selling at Rs 54,650

Ten gram of 22-carat gold was trading at Rs 50,100 today

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डच PM ने गुलामों से मांगी माफी:6 लाख गुलामों का किया था व्यापार, आज 4 करोड़ गुलाम, इनमें 48 लाख महिलाएं सेक्स-स्लेव

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Global stock markets advance but face highest monthly losses since 2008

The MSCI All-World index rose about 1.1% on the day, although it is on track for a more than 3% decline in December

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आग तापने से घुटन, हार्ट प्रॉब्लम:ऑक्सीजन, हीमोग्लोबिन लेवल होगा कम, अस्थमा और दिल के मरीजों के लिए नुकसानदायक

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Former FTX CEO Sam Bankman-Fried to fly to US today, escorted by FBI agents

Sam Bankman-Fried signed his surrender documents on Tuesday, he will sign a separate set of papers finalising his waiver of rights to fight extradition

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KFin Technologies IPO subscribed 2.6 times on concluding day of issue

KFin Technologies first considered launching a Rs 2,400-crore IPO but reduced the issue size to Rs 1,500 crore to align with market conditions

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Tuesday 20 December 2022

Vinay Rajani recommends to hold longs on Nifty with a stop at 18,200

Among individual stocks, the technical & derivative analyst from HDFC Securities is bullish on NLC India and Mazagon Dock.

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राजस्थान में टीचर्स के 48,000 पदों पर निकली वैकेंसी:आज से 19 जनवरी तक कर सकेंगे आवेदन, स्टेट मेरिट के आधार पर होगा सिलेक्शन

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Stocks to Watch: IRFC, Airtel, Jubilant Food, Delhivery, CBI, KP Energy

Stocks to Watch Today: Dabur India promoters, the Burman family, sold 1 per cent stake in the company through a block deal on Tuesday.

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सर्दी-जुकाम में फायदेमंद मुलेठी:मेनोपॉज, वेट लॉस, फैटी लिवर और अल्सर में फायदेमंद, फर्टिलिटी बढ़ाए, लेकिन इन गलतियों से बचें

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FTX crypto exchange founder agrees to extradition to US, says attorney

Sam Bankman-Fried may be ready to come to the US to face criminal charges related to the collapse of cryptocurrency exchange FTX following a chaotic court appearance in the Bahamas. A lawyer for Bankman-Fried was quoted as saying Monday the disgraced FTX founder has agreed to be extradited to the United States. A court hearing was stopped earlier in the day when his attorneys said it was premature for him to stand before the court. Jerone Roberts, a local defense attorney for Bankman-Fried, told The New York Times that lawyers will prepare the necessary documents for extradition. Mr. Bankman-Fried wishes to put the customers right, and that is what has driven his decision, the Times quoted Roberts telling reporters. It was not immediately clear when extradition could occur. The court appearance came just a week after Bankman-Fried's lawyers had initially said that they planned to fight extradition. An extradition hearing had been scheduled for Feb. 8. The reversal could speed up th

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Equity benchmarks recoup most of intraday losses amid fag-end buying

After tumbling over 700 points intra-day, the 30-share BSE Sensex clawed back lost ground on last minute buying in index heavyweights

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Monday 19 December 2022

Gold falls by Rs 380, silver jumps; yellow metal trading at Rs 54,110

Ten gram of 22-carat gold is selling at Rs 49,600 after the prices remain unchanged from previous day, according to the GoodReturns website

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CISF में निकली भर्तियां:787 पदों पर फिजिकल और रिटन टेस्ट से होगा सिलेक्शन, 69,100 तक मिलेगी सैलरी

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MARKET LIVE: SGX Nifty hints tepid start amid weak global cues, down 30pts

Stock market live updates: At 7:55 am, the SGX Nifty quoted around 18,457 levels, down 29-odd points

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शीतलहर में ऐसे रहें सेफ:गर्म पानी पिएं, अल्कोहल को कहें बाय, बाल और स्किन की भी सेहत का रखें खयाल

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ED attaches Rs 907 crore worth assets of crypto exchanges under PMLA

The Enforcement Directorate has attached proceeds of crime worth Rs 907 crore and arrested three persons in cases related to money laundering by crypto exchanges, Parliament was informed on Monday. Minister of State for Finance Pankaj Chaudhary said Central GST officers have detected Goods and Services Tax (GST) evasion worth Rs 87.60 crore by 12 crypto exchanges. Recovery of Rs 110.97 crore, including interest and penalty, has been made. The minister said further investigation is under process in eight cases and four cases are closed on payment of tax along with interest and penalty. Further, in case of crypto exchange Zanmai Labs Pvt Ltd, known as WazirX, assets worth Rs 289.68 crore have been seized from the exchange and its Directors for violation of the provisions of the foreign exchange management act (FEMA), Chaudhary said. In a written reply to a question in the Lok Sabha, the minister said the Directorate of Enforcement is investigating several cases related to crypto .

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Benchmark indices rise nearly 1% on heavy buying in oil, FMCG stocks

From the Sensex pack, Mahindra & Mahindra, Power Grid, Bharti Airtel, Bajaj Finserv, HDFC, Hindustan Unilever, Maruti, ITC, Titan, Nestle, Bajaj Finance and Reliance Industries were the major winners

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