Gap Financial News

While many sectors and themes have done well in 2023, HDFC Asset Management is positive on four major sectors, entering into 2024. “At the broader level, we are positive on sectors with good prospects of earnings growth and where valuations are reasonable,” said Rahul Baijal, senior fund manager – equities at one of India’s leading asset management companies. In his view, some of the large banks seem well placed given their strong balance sheets, healthy credit growth, good asset quality and reasonable valuations. Telecom and healthcare are the other two sectors that Baijal thinks look good from a medium to long term perspective. Edited excerpts. How does 2024 look up for the Indian equity market? What are the key factors that will drive inflows? Indian equities have done well in 2023 and are likely to end the year on a positive note, with all three market cap segments delivering positive returns. In my view, as we enter 2024, global macro factors may dominate local macro in the first half of the year. The nature of the slowdown in the US and the movement of the US 10-year yield is likely to continue to cause volatility, as has been the case in the recent months. Locally, the economy is in a good shape with healthy macroeconomic fundamentals.

Indian Oil Corporation Ltd. traded at Rs 122.9 on BSE at 10:00AM (IST) on Friday, up 2.41 per cent. The stock quoted a 52-week low price of Rs 72.35 and a high of Rs 123.1.

Federal Reserve's policy meeting earlier this week. Gains were seen across all the sectors. The BSE Sensex was trading 287 points or 0.41% higher at 70,801.

Pramod Gubbi, Founder, Marcellus Investment Managers, says “I expect significant flows to come into India largely through India-dedicated funds. Maybe on the other side of elections perhaps because that is the only bit of uncertainty, maybe the last week's state elections has ironed out that uncertainty a little bit. Allocators would like to see some political stability. So, maybe the big ramp up might come on the other side of the election, but we have already seen the beginnings of those starting with last week's flows. ” We are trying to map the factors which are at play; the sudden change of stance from the Fed last evening has triggered a big global risk-on moment. India is also participating. Is it really something which the market is surprised about or was it largely in the direction the market was expecting? Three rate cut possibilities are now on the table starting mid-next year. I reckon it is not a total surprise. Pretty much at the beginning of April of this year, the best indication has been either the dollar index or FII flows into India as well. We have bottomed out in terms of FII outflows sometime in March 2023. And I think it was the 25th March 2023 Fed meeting which triggered that. In sum, the market started factoring in that we are close to the peak of the interest rate cycle, if not foreseeing some cuts. That has been at play for quite some time.

“Risk management is embedded in our Investment Process. By focusing on price-value gaps, we strive to achieve a balance between risk and reward," Tridip Pathak, Executive Director and Portfolio Manager at Avendus Olivo PMS. In an interview with ETMarkets, Pathak said: “We have an investment process which helps us identify opportunities from our ~145 stock coverage universe at any point in time,” Edited excerpts: Thanks for being part of the segment. You are managing over 600 cr in AUM – please take us through the portfolio performance? As of today, our PMS Strategy has delivered ‘on an aggregate basis’ a CAGR return of 21.7% since inception in August 2020, 19.8% over the last 3 years, 13.7% over the last 2 years and 28.4% over the last 1 year.

Many Americans’ lives consist of going to school, getting a job, buying a home, having a family and saving for a nice retirement. For Gen Xers, on the other hand, that doesn’t seem to be the case – at least when it comes to retirement.

The painful economic steps that Argentina’s new president, Javier Milei, announced this week sound draconian: Slashing the currency’s value in half

The average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few h...

National Insurance Academy said in a report, which was released on Thursday. Unveiling the report, Irdai Chairman Debasish Panda urged the industry to emulate steps that led to the massive success of the UPI, opening of bank accounts, as well as mobile penetration. Panda said a compulsory natural calamity insurance in high-risk regions — as recommended in the report — is needed if the country wants to achieve insurance for all by the time the nation completes a hundred years as a republic.

NEW DELHI : The government may extend a scheme aimed at strengthening India’s power distribution infrastructure beyond its intended five-year duration as it seeks to connect more households, especially in rural areas, to the electricity grid. The Revamped Distribution Sector Scheme (RDSS), which has an outlay of ₹3 trillion for financial years 2021-22 to 2025-26, may now be extended beyond the five-year period to support increasing demand for electrification, two people aware of the matter said. “RDSS may continue for another five years.

Bank of Nova Scotia plans to add hundreds of financial advisers to boost sales of mutual funds and investment products, part of a sweeping overhaul by the new management team to improve shareholder returns.

We just got our January 2019 moment: the Powell dovish pivot is here.

Today’s update of the “fair-value” model for the US 10-year Treasury yield reaffirms that the benchmark rate appears unusually high relative to the economic fundamentals.

A federal judge is set to consider a request by Colorado’s cattle industry to block the impending reintroduction of gray wolves to the state under a voter-approved ballot initiative

The new venture, AllUnity, will be regulated by BaFin, Germany’s financial supervisory authority. Set for launch within the next 18 months, AllUnity’s longer-term focus will be to accelerate mass market adoption of digital assets and tokenization.Stefan Hoops, CEO DWS, comments: “Through the future creation of AllUnity, we will bridge the gap between the traditional and digital finance ecosystems to build a core infrastructure provider that facilitates secure on-chain settlement for institutional, corporate and private use.

RBC Capital Markets strategists suggest that the mega-cap growth trade is currently overvalued, crowded, and could benefit from a pause.

yields drifted lower in choppy trading after data showed underlying inflation in the world's largest economy came in line with expectations, reinforcing expectations the Federal Reserve will hold rates steady at the end of the two-day policy meeting this week. The decline in yields, however, was much steeper immediately after the release of the data. In morning trading, the benchmark U.S.

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Wipro have bounced back strongly, gaining 12% to ₹422 apiece from the November low of ₹377. This resurgence has positioned the stock in close proximity to its 52-week high of ₹443.75 apiece.

Coal India on Tuesday reported a 7.6% year-on-year increase in its capital expenditure (capex) for the April-November period to ₹10,492 crore, reflecting its intensified efforts to bridge the investment gap. The company has deployed a significant portion of FY24's targeted capex of ₹16,500 crore for transport infrastructure projects, totalling ₹6,441 crore. “We are striving to achieve around 80% of the current financial year’s total targeted capex of ₹16,500 crores by the third quarter ending December," said a company statement quoting a senior executive.