Performer Financial News

As broadly expected, the Reserve Bank of India (RBI) maintained status quo on key policy rates in its MPC review meeting on Friday, reaffirming its withdrawal policy stance. The move bodes well for the housing market in India and will reinforce confidence among potential homebuyers.

Boosted by the benchmark indices hitting all-time highs in November, the mutual fund industry’s AUM reached Rs 49.04 lakh crore. While basket selling in debt category schemes resulted in net outflows of Rs 4707 crore, the equity segment continued its buoyant trend for the 33rd consecutive month of positive netflows at Rs 15,536 crore for November.

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Putin has moved to prolong his repressive and unyielding grip on Russia.

repo rate unchanged for the fifth time today, in the last policy meeting of the calendar year 2023. The Monetary Policy Committee (MPC) of the central bank also retained its stance of remaining focused on “withdrawal of accommodation." Read here: What are subtle hints from RBI monetary policy? 10 experts parse MPC decisions Amid this backdrop and the ongoing positive market sentiment, let's analyse between Nifty Auto and Nifty Realty, which sector has better growth opportunities in the long run. Looking at 2023 YTD, both of these sectors have outperformed the benchmark Nifty.

Bernstein is promoting short Tesla (NASDAQ:TSLA) stock as its “best idea for 2024,” with their analysts seeing nearly 40% downside risk from current levels.

JPMorgan analysts offered fresh comments about the outlook for financial markets for the next year. The famous strategists anticipate “another challenging year for market participants.”

Investing.com — The Dow closed just higher Thursday as a tech-led rally underpinned by Alphabet and AMD offset losses in energy stocks ahead of the monthly jobs report due Friday.

At the Reserve Bank of India (RBI) Monetary Policy Committee (MPC) meeting on December 08, 2023, the RBI Governor Shaktikanta Das announced the MPC’s decision to maintain the repo rate at 6.5 per cent. After a three-day bi-monthly meeting, the committee emphasized its dedication to maintaining its existing policy stance. It was evident from the announcement that the RBI has no intent to withdraw its accommodation stance regarding its decision on repo rates. 

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RBI has been holding rates since February. Here 11 mutual fund managers explain the policy for investors. Mahendra Jajoo, CIO Fixed Income, Mirae Asset MF In line with market consensus, MPC conveyed a balanced approach with keeping key policy rates as well as stance unchanged considering ebbing inflationary pressures globally but still emphasising on the need for policy to be actively disinflationary. The pleasant surprise was a significant revision upwards in FY24 growth projections by 50 bps to 7%. Inflation projection for FY 24 remains unchanged at 5.4% but that for Q2FY25 is projected at 4%. Market will feel somewhat relieved on the suggestion that with liquidity turning in deficit on its own accord, OMO operations may not be needed in the immediate term.

Mahesh Patil, CIO, ABSL AMC, says “a lot of the domestic sector focus are looking good, especially the kind of value what we have seen in the industrials, capital good, the power stocks, the backbones of the economy. If that is starting to recover, then we could see the broader market sustaining. But the recent rally has primarily been in the largecap space which was lagging behind. We have seen a good amount of money flow in the mid and smallcap space, That seems to have turned around. “ It has been a historic week, stepping into a historic month. What is the market construct looking like to you? So, yes, I think this month has been fairly good. We have seen positive results from the electorate in the state elections. The markets have taken a positive outlook that the election outcome would be slightly favourable and globally, also, despite all the concern about growth slowdown, we have seen a decent amount of rally.

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But was it liquidity alone that drove this rally in stocks or were there fundamental reasons as well backing them? One possible way to find this out would be to see the earnings performance of the companies. Data crunching done by ETMarkets showed that 23 companies reported atleast a double-digit year-on-year (YoY) growth in both revenue and profits for three consecutive quarters. And guess what? About seven of them have given multibagger returns year-to-date, and five of them have done that only in FY24. The seven ninjas of Dalal Street are Kaynes Technology, Neuland Laboratories, Wonderla Holidays, Elecon Engineering Co, Safari Industries, Sonata Software, Sanghvi Movers, and Power Mech Projects.

Nifty 50, Sensex at record highs; how should you play large, mid, smallcaps? Nuvama underscored that midcaps are also expensive but they should still do relatively better than smallcaps. "Midcaps are also expensive at 26 times P/E (versus 20 times 10-year average), but the sizes and profiles of midcap businesses in India have improved significantly in the past five–seven years. Midcap premium of 28 per cent to Nifty valuation (versus 7-8 per cent average) is also not supportive.

Omkar Shetty, Pune, Maharashtra In the realm of investments, diversification is a key mantra, and venturing beyond the familiar shores of the Indian stock market can open up a world of possibilities. Indian international mutual funds, particularly those with a focus on the S&P 500, offer an enticing avenue for Indian investors to tap into the dynamic and growth-oriented US equity market. The US stock market has consistently outperformed its Indian counterpart over the long term.

RBC Capital Markets is having its best year on record, propelling the Canadian bank to become the No. 2 underwriter of United States state and local debt.

Sagard, an alternative asset management firm controlled by Quebec’s Desmarais family, is acquiring a strategic stake in Connecticut-based Performance Equity Management, boosting Sagard’s assets under management to more than $25 billion from around $15 billion.

India is the best performing economy in current times because of policy interventions by the government and green shoots of recovery are emerging in the rural economy as inflation is becoming moderate, Sanjiv Puri, chairman and managing director of ITC, said on Thursday. "(The) Q2 GDP numbers are a testament to how well the economy is doing," Puri said at the Confederation of Indian Industry (CII) Global Economic Policy Forum here. And that is a result of the spirit of enterprise, resilience of people, «enabled by a lot of very timely and purposeful policy interventions over several years», he said. While the government has handled inflation — which has been high due to global challenges — well, all sectors, particularly export-oriented ones, are not doing so well, Puri said. Driven by uneven and scanty rain, annual retail inflation had hit a 15-month high of 7.44% in July with food price inflation at 11.5%, its highest in more than three and a half years. The government took several measures to put a lid on food prices such as prohibiting export of wheat, restricting export of sugar, onion and rice, importing pulses, disposing off wheat, rice, and vegetables such as onions from its own stocks, bringing food inflation down to 6.61% in October. The Indian economy grew 7.6% in the second quarter ended September, beating expectations.

Narendra Modi on Thursday said the party was people's most preferred choice for governance as its record of retaining power was better than Congress'. Speaking at BJP parliamentary party meeting, Modi said not any leader, but 'team spirit', should be credited for the party's big win in the recent polls. He noted that besides the win in three states, BJP's strength grew in Telangana and Mizoram, sources said.