Index Financial News

US Federal Reserve hiked interest rates by 25 basis points (bps), in line with expectations. The trends on Gift Nifty also indicate a positive start for the Indian benchmark index. The Gift Nifty was trading higher at around 19,850 level as compared to Nifty’s previous close of 19,778.30.

Shares of SOBHA(up 10.08 per cent), Mahindra Lifespace Developers(up 2.66 per cent), Oberoi Realty(up 2.09 per cent), DLF(up 1.59 per cent) and Brigade Enterprises(up 1.4 per cent) ended the day as top gainers in the pack. On the other hand, Macrotech Developers(down 0.06 per cent) and Prestige Estates Projects(down 0.05 per cent) finished as the top losers of the day.

Edelweiss Mutual Fund has made a significant move to benefit passive investors by reducing the expense ratio across its passive equity index schemes in direct plans. The expense ratio has been cut to a record-low of 0.05 percent, the lowest among Nifty 50 index funds in India. This reduction aims to boost investor returns and minimize tracking errors for passive funds. The expense ratio reduction is expected to bring down tracking error and tracking difference, which is the difference between the returns of the fund and the benchmark index it aims to replicate. This shall help these low cost passive funds stay closer to their benchmark performance, giving investors more accurate exposure to the index they are tracking.Edelweiss MFs schemes changed their expense ratio in below index funds with immediate effect — Edelweiss Nifty 50 Index Fund — Direct Plan 0.05%, Edelweiss Nifty Next 50 Index Fund — Direct Plan 0.09%, Edelweiss Nifty Midcap 150 Momentum 50 Index Fund -0.14%, Edelweiss Nifty Smallcap 250 Index Fund -0.14%, Edelweiss NIFTY Large Mid Cap 250 Index Fund -0.14%, and Edelweiss Nifty 100 Quality 30 Index Fund -0.14%. This strategic decision by Edelweiss Mutual Fund, known for its innovative and low-cost offerings, reinforces its commitment to provide good passive solutions to investors. The fund house achieved a notable milestone earlier this year by crossing 1 lakh crore AUM. With this latest move, Edelweiss Mutual Fund sets a new industry benchmark for expense ratios in India, attracting investors seeking optimal returns with minimized costs.

New Delhi: The National Coal Index (NCI) fell a significant 33.8% year-on-year to 157.7 points in May, in an indication that supplies in the country remain sufficient. “The National Coal Index (NCI) has shown a significant decline of 33.8% in May 2023 at 157.7 points compared to May 2022, where it was at 238.3 points, which indicates a strong supply of coal in the market, with sufficient availability to meet the growing demands," the coal ministry said in a statement. Similarly, NCI for non-coking coal declined 34.3% on year to 147.5 points in May.

Pakistan score's on Global Hunger Index (GHI) has dropped from 38.1 in 2006 to 26.1 in 2022, revealing the extent of the crisis that the gripped the country and its people, Dawn reported. The Pakistan chapter of the Global Hunger Index (GHI) released the data on Tuesday. The GHI ranked Pakistan at 99th position out of 121 countries surveyed.

Balkrishna Industries(up 1.62 per cent), Samvardhana Motherson International(up 1.32 per cent), Tata Motors(up 1.18 per cent), Sona BLW Precision Forgings(up 0.72 per cent) and Eicher Motors(up 0.65 per cent) were among the top gainers. Ashok Leyland(down 0.82 per cent), Mahindra & Mahindra(down 0.49 per cent), TIINDIA(down 0.37 per cent), Maruti Suzuki(down 0.29 per cent) and Bharat Forge(down 0.01 per cent) were the top losers on the index.

LTIMindtree Ltd(up 0.89 per cent), Coforge(up 0.88 per cent), Wipro(up 0.69 per cent), L&T Technology(up 0.65 per cent) and Infosys(up 0.61 per cent) were among the top gainers. MPhasis(down 0.68 per cent) and Persistent Systems(down 0.23 per cent) were the top losers on the index.

Punjab National Bank(up 2.22 per cent), IDFCBANK(up 0.84 per cent), Kotak Mahindra Bank(up 0.81 per cent), IndusInd Bank(up 0.6 per cent) and Axis Bank(up 0.56 per cent) were among the top gainers. HDFC Bank(down 0.21 per cent) were the top losers on the index.

Real estate industry stakeholders including developers, financiers and institutional investors continue to be optimistic about the business environment over the next six months backed by the Indian economy's resilience despite a recessionary environment globally, showed Knight Frank-Naredco Real Estate Sentiment Index for April-June 2023. The performance of both office and residential property markets is expected to be robust as underlying demand remains firm, helping the future sentiment score rise to optimistic territory at 64 in the June quarter from 61 in the previous quarter.

This led to the concept of the Fire Weather Index. It predicts the areas which are susceptible to wildfires by using the weather data. It adds the rate of fire spread with the fuel being consumed. By going through the Fire Weather Index, one can predict the susceptible areas of fire. The higher you are, the more prone to wildries you are. The Fire Weather Index has six levels of danger- the very low is less than 5.2 on the scale. Low danger between 5.2 and 11.2. Between 11.2 and 21.3 you have moderate danger. The high danger lies in the range of 21.3 and 38. Between 38 and 50 you have very high danger and extreme danger in beyond 50. You can understand the possibility of wildfire by keeping an eye on this index. Italy, Greece, Turkey, and Spain are the most prone to wildfires at present. Many places in Turkey are in the area of extreme danger. Most of the Greek islands are at high to very high risk. Spain, parts of southern Italy, and Sicily have a Fire Weather Index score of 38.Copernicus, a part of the European Space program runs the FWI. It uses the data collected from satellites as well as measured from the Earth.

Shares of HDFC Bank(up 1.08 per cent) and ICICI Bank(up 0.27 per cent) ended the day as top gainers in the pack. On the other hand, Punjab National Bank(down 2.25 per cent), IndusInd Bank(down 1.41 per cent), State Bank of India(down 1.3 per cent), Kotak Mahindra Bank(down 1.15 per cent) and Bank of Baroda(down 1.11 per cent) finished as the top losers of the day.

Crypto options exchange Deribit's future-looking Bitcoin (BTC) volatility index — used as a crypto fear gauge of sorts — has reportedly reached its lowest level in two years, indicating a possible lack of price turbulence for Bitcoin in the near future. 

Bengaluru (Karnataka) [India], July 21: Equity investment is simple, but it requires perseverance, resilience and the right amount of determination to achieve success. Over the last few years, especially post-Covid-19, the world has gone through major economic events such as the Russia-Ukraine war, soaring inflation, the 2-year US treasury yields hitting 16 years high, commodity prices going through the roof, continuous lockdowns by China and others. These geopolitical tensions led to a global supply chain issue.

Stock market today: Amid weakness in Sensex heavy weight Reliance Industries Ltd (RIL) shares and tepid movement in leading IT stocks, Nifty PSU Bank index has come out as big support for the Indian stock market. The Nifty PSU Bank index has hit life-time high in Monday deals.

Glenmark Pharmaceuticals(up 2.45 per cent), Aurobindo Pharma(up 0.97 per cent), Gland Pharma(up 0.76 per cent), Dr Reddys Laboratories(up 0.54 per cent) and Sun Pharmaceutical Industries(up 0.39 per cent) were among the top gainers. Biocon(down 3.88 per cent), Natco Pharma(down 1.51 per cent), Cipla(down 0.85 per cent), Abbott India(down 0.69 per cent) and Divis Laboratories(down 0.5 per cent) were the top losers on the index.

IDFCBANK(up 3.14 per cent), Bank of Baroda(up 1.55 per cent), Punjab National Bank(up 1.28 per cent), Axis Bank(up 0.9 per cent) and IndusInd Bank(up 0.8 per cent) were among the top gainers. AU Small Finance Bank(down 4.34 per cent) and Kotak Mahindra Bank(down 3.34 per cent) were the top losers on the index.

equity market is expected to open on a cautious note on Monday following a mixed trend in Asian peers. The trends on Gift Nifty suggests a negative start for the Indian benchmark index. The Gift Nifty was trading lower at 19,730 as compared to the Nifty’s Friday’s close of 19,745.00,  Nifty was just 9 points away from hitting the 20,000 mark last week.

Nifty 50 index and other key benchmark indices on Dalal Street, MSCI Indian index fell to the tune of 9 per cent during mid-session of Friday deals, that sparked attention of market observers and investors. However, the global index provider Morgan Stanley Capital International or MSCI claimed that the 9 per cent dip in India index was due to the incorrect security pricing during stock market's opening.

Shares of Bandhan Bank(up 3.0 per cent), IDFCBANK(up 1.78 per cent), State Bank of India(up 0.83 per cent), Kotak Mahindra Bank(up 0.68 per cent) and ICICI Bank(up 0.14 per cent) ended the day as top gainers in the pack. On the other hand, Federal Bank(down 1.97 per cent), Punjab National Bank(down 1.96 per cent), IndusInd Bank(down 1.25 per cent), Bank of Baroda(down 1.23 per cent) and HDFC Bank(down 0.77 per cent) finished as the top losers of the day.

Shares of Ashok Leyland(up 3.5 per cent), TIINDIA(up 1.72 per cent), Sona BLW Precision Forgings(up 1.54 per cent), Tata Motors(up 0.66 per cent) and Hero MotoCorp(up 0.48 per cent) ended the day as top gainers in the pack. On the other hand, Mahindra & Mahindra(down 1.41 per cent), Bosch(down 0.79 per cent), TVS Motor Company(down 0.16 per cent), Bajaj Auto(down 0.12 per cent) and Eicher Motors(down 0.05 per cent) finished as the top losers of the day.

Shares of MPhasis(up 5.28 per cent) ended the day as top gainers in the pack. On the other hand, Infosys(down 8.13 per cent), Persistent Systems(down 5.83 per cent), Tech Mahindra(down 4.62 per cent), Coforge(down 3.72 per cent) and HCL Technologies(down 3.49 per cent) finished as the top losers of the day.