Cycling Financial News

«The only thing under your control as an investor is your asset allocation, your financial goals and your ability to manage your risk. What the market will do is outside your control, it is outside your knowledge, it is in the realm of unknown,» says Vetri Subramaniam, CIO, UTI AMC. The party continues and I have been told that the new definition of party is that it continues till the sunrise if you are in India and if you are in Goa. So, looks like the party which started three years ago will extend itself. Vetri Subramaniam: Well, bull markets have a way of continuing, but they also have a way of ending abruptly. So, you do not want to be the last one to leave the party.

equity valuations from lower interest rates. Following the 2001 rate cuts, the Nifty fell by 35% over a one-year period. In the 2007-08 cycle, it initially gained 30% but later plunged by 60%. After the 2019 rate cuts, Nifty returns were flat, ranging between 0% and 5%, according to a note by Nuvama Institutional Equities.

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Startup Awards (ETSA) have captured the ever-changing world of technology and digital India as the sector has grown from infancy to the stage of spawning multiple publicly-traded corporations. Having seen multiple cycles of a funding boom followed by a tech winter, the awards are a true testament to the way Indian entrepreneurship has matured in the past decade, despite many crests and troughs. But what goes behind selecting the nominees and the winners of The ET Startup Awards, considered the most prestigious in the Indian entrepreneurial ecosystem? June: ET reached out to over 200 of the country’s top entrepreneurs, investors, industry groups and other stakeholders to compile a list of the brightest entrepreneurial talent.

The U.S. Federal Reserve's easing cycle will be «mild» by historical standards when it starts cutting rates at its September policy meeting, ratings agency Fitch said in a note.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Association of Mutual Funds in India (AMFI). This compares with the long-term average ratio of 1.6. A ratio greater than two indicates that buying inflows are twice as high as selling outflows, reflecting strong investor momentum. Among equity funds, the sector funds have maintained a buy-to-sell ratio of over three for the fourth consecutive month and have had a ratio greater than one for 15 consecutive months. Sector/thematic NFOs reported a net inflow of Rs 33,939 crore over the past three months, accounting for 30% of the total equity fund inflow. During the period, equity funds received a total inflow of Rs 1,15,960 crore. In August, equity NFOs totalled an inflow of Rs 10,202 crore with notable offers including the Motilal Oswal Manufacturing Fund, Motilal Oswal Business Cycle Fund, SBI Innovative Opportunities Fund, and Invesco India Manufacturing Fund.

Interest rates have remained elevated globally as many countries prioritize inflation management. However, they now stand on the verge of an easing cycle.

India, as numerous empty containers have been sent to China to accommodate a surge in exports aimed at circumventing the new duties. The Biden administration's plan to impose higher tariffs on a range of Chinese products— including steel, solar cells, lithium-ion batteries, electric vehicles, and medical supplies—will be phased in from this year through 2026. In response, Chinese exporters have been front-loading their shipments to the U.S., even sending empty containers to China to be filled and dispatched before the tariffs take effect. The container shortage is expected to impact India's trade figures for August and September, as exporters struggle to find containers for their goods amid weak global demand. Although container rates have begun to decrease following a recent spike, exporters continue to face challenges due to retaliatory tariffs on Chinese goods and complications arising from the Red Sea crisis. This crisis has led to shipping lines bypassing several Indian ports due to longer voyage times and increased route lengths, which in turn affects container availability.

Arnab Das, Global Macro Strategist, Invesco, says all the world's big oil consumers are slowing down in a somewhat synchronized fashion, causing some concerns about the demand side of the market. However, a big collapse in the price of oil is unlikely. The big surges and the big collapses in the price of oil tend to come from the supply side rather than the demand-side which in the major economies tends to be a more gradual process than supply shocks. The US CPI numbers increased 0.2% for the month, in line with the Dow Jones consensus that sets the stage for an expected quarter percent point rate cut from the Federal Reserve in the coming week. Are there any chances for an outsized rate cut given the recessionary fears are back in the US? Arnab Das: Yes, we have and I have been in the 25 bps camp all along; 50 basis points are possible, but is unlikely at this stage. The market was pricing more like 30 bps before the CPI. Although the headline CPI number is fine, the core number is not as good as hoped, and core PCE will maintain that story. We are looking at a 25 bps cut. The Fed has kind of indicated and it is correct to say that it has shifted the focus of its dual mandate from inflation to jobs and the labour market, but it has to keep one eye on inflation and that points to a 25 bps cut.

Taher Badshah, CIO, Invesco Mutual Fund, points out that the broad triggers for the entire PSU space moving up and the valuation tables expanding irrespective of the sector that they belong to, are perhaps behind us. We now have to deal with the delivery on earnings In the first flash, everything gets re-rated but once the dust settles down, the second phase of execution, performance, and delivery starts to come in. That will probably happen in the PSU space, particularly in the industrial space/the defence sub-segments of the industrial space. Markets will start differentiating between good quality execution and not so good quality execution. You are managing PSU stocks. How are you approaching them given that a time-wise and a price-wise correction has kicked in? Taher Badshah: As far as our PSU strategy and our PSU fund is concerned, it is a strategy that has been around for a very long time.

The announcement that the New Democratic Party is splintering from its coalition with the Liberals served as a reminder of what a colossal mess the government has left the national economy. The imbalances are shocking and numerous.

Since graduating with a degree in economics from the University of Birmingham in 2018, Joel has worked as a financial market/cryptocurrency analyst. He firmly believes that emerging crypto technology...

Olympic sponsor Panasonic is terminating its contract with the IOC at the end of the year

Read this | Indian investors are discovering the power of factor investing Though it feels new, factor investing has been around for a long time. What’s changed is the rise of financial products, like factor-based indices and mutual funds, that explicitly follow specific factors. Historically, fund managers would optimize for different factors at various points in the market cycle.

Why are September and October historically weak for stocks? For answers, I turned to Mark Higgins, senior vice president at Index Fund Advisors and author of the book, Investing in U.S. Financial History: Understanding the Past to Forecast the Future.

equity mutual funds through a mix of lump sum investments in new fund offers (NFOs) and systematic investment plans (SIPs). Equity schemes garnered ₹38,239 crore in August — the 42nd straight month of inflows — as against ₹37,113 crore in the previous month led by flows into thematic funds, a category that has witnessed a flood of new fund offers in recent months. Flows through SIPs into mutual funds inched up to ₹23,547 crore — the highest ever in a month — compared to ₹23,332 crore in the previous month.

Aashish Somaiyaa, CEO, WhiteOak Capital AMC, says financial services have seen some significant gains in the capital markets over the past three to six months and remain a pocket of safety. WhiteOak has been leaning heavily into this sector. When it comes to IT, they are focusing more on small and midcap companies, especially those serving BFSI clients. They also look at consumer stocks selectively since they invest across various sectors without any specific bias. They are still heavily invested in industrials and manufacturing. Somaiyaa says typically, a change of macros is accompanied by a change of style, sector and market cap and that is what we are witnessing right now. What exactly is happening in the auto space? There was a time when everyone was only singing one tune that auto is a one-way street and that upward momentum is coming in. There was a lot of demand on the ground. But right now, it is the opposite. We are seeing high inventory levels for most of these auto players at the dealership levels. The sales are also not picking up. What is the take coming in the auto sector? How should one read through all of this data while investing in the sector, which is very crucial for the economy? Aashish Somaiyaa: We have to see the entire five-year period.

Apurva Prasad, Vice President, HDFC Securities, says IT companies with higher BFSI exposure, would be candidates that can potentially surprise on earnings. The other element is if you look at the guidance that the companies have provided for the year, most of the guidance does not bake in the macros recovery or macro getting better. Among mid-tier companies, the ones that continue to do relatively better versus peers would be Persistent Systems. Also, with higher BFSI exposure, names like TCS can be candidates.