Performer Financial News

Global investment bank JPMorgan’s decision to include Indian government bonds into its emerging market bond index is expected to be a game changer for the bond market, and a spillover effect will be seen in debt mutual funds as well. The inclusion in the bond index will channel global passive debt flows in India, as passive funds, by nature, are longer term, says Avnish Jain, head-fixed income, Canara Robeco Mutual Fund. Expectations of large FII inflows due to the bond inclusion and rate hike cycle peaking in both local and global markets should start attracting inflows into debt funds, Jain said. In an interview with ETMarkets, Jain highlighted the significance of the bond inclusion, the inflows outlook, and the asset allocation strategy for debt fund investors. Edited excerpts: Let’s begin with the hot topic today. What changes for India’s bond market with the JPMorgan bond index inclusion? The inclusion in the JPMorgan bond index is a game changer for the Indian government bond (IGBs) markets. While FII investments have been allowed in IGBs for a long time, they were more active and selective in nature, depending on the overall macroeconomic situation as well as relative attractiveness of the Indian debt market within the EM space. The inclusion in the bond index will channel global passive debt flows in India. Passive funds, by nature, are longer term and generally fluctuate only in case of change in weightage in the index.

returns. An analysis of the performance of stocks with a market capitalization of over Rs 1,000 crore showed that there were five such stocks which gave double-digit returns in each of the last six months and even turned multibaggers in H1FY24. These five superstars of FY24 belong to the midcap and smallcap segments that outperformed the benchmark by a wide margin in the last six months.

“We expect sectors such as 1)IT, 2)Healthcare, 3)Manufacturing, and 4)Consumer Discretionary to drive the next leg of the rally, given their attractive valuations and strong fundamentals,” says Aditya Sood, Fund Manager- InCred Asset Management. In an interview with ETMarkets, Sood said: “We expect a mixed bag of earnings for the rest of the financial year; with the automobile and financials expected to perform resiliently, the earnings of cement and consumer companies are expected to be under pressure” Edited excerpts: What a week for Indian markets – 20,000 and then some profit taking in the week gone by. How are you looking at markets? At the current levels, we believe the markets are fairly valued and foresee limited scope for multiple expansions in the short term.

Morgan Stanley’s Michael Wilson, an unwavering equity bear, says the correlation between real rates and equity returns has fallen deeper into negative territory — a sign that interest rates have once again become a determinant of stock performance. At Bank of America Corp., however, Savita Subramanian thinks equity markets can still thrive if rates remain elevated.

Manoj Vaibhav Gems IPO: Listing date of the initial public offering (IPO) of Manoj Vaibhav Gems 'N' Jewellers Limited has been fixed on 3rd October 2023. As per the BSE notice, "... effective from Tuesday, October 3, 2023, the equity shares of Manoj Vaibhav Gems 'N' Jewellers Limited shall be listed and admitted to dealings on the Exchange in the list of 'B' group of securities." Manoj Vaibhav Gems share price will list on BSE and NSE at around 9:45 AM in sprecial pre-open session during Tuesday deals and Manoj Vaibhav Gems shares will become available for trade from 10:00 AM on Tuesday.

Nifty to sustain above the 19,500 mark to extend Friday’s gains. However, if the index falls below 19,500, analysts anticipate the possibility of additional selling pressure, potentially leading to a decline to 19,200 level. For traders considering long positions, stocks like Bajaj Finance, DLF, Granules, Grasim, Sun Pharma, Hero Motocorp, NTPC, and Tata Power are worth considering. VIRAJ VYAS TECHNICAL & DERIVATIVES ANALYST, ASHIKA STOCK BROKING Where is Nifty headed? Nifty has witnessed a corrective spell last week after touching life-highs in mid-September.

Most financial advisors base investment decisions on home office models, with new data showing that the profession continues to move more toward planning and customer service.

Six weeks into the United Kingdom’s first pandemic lockdown, employees at the British engineering group Dyson Ltd. received an email from chief executive Roland Krueger.

Live Aid, the iconic charity concert that raised a staggering £127 million nearly four decades ago, is set to be transformed into a musical. This legendary fundraiser, masterminded by Bob Geldof and Midge Ure, took place on July 13, 1985, captivating a crowd of 72,000 at Wembley Stadium, all in an effort to raise funds for famine relief in Ethiopia. The event garnered a global audience of tens of billions through live television broadcasts.

Meta’s CEO, Mark Zuckerberg, has revealed that he remains committed to his pursuit of leadership in the fast-paced metaverse race.

Sharon White, the current chair of the UK retailer John Lewis Partnership, has announced her intention to step down from her position in February 2025, at the end of her five-year term. The decision not to seek a second term makes her the shortest-serving chair in the company's history.

'History suggests that discounts at these levels do not persist forever, and that periods of negative sentiment towards investment trusts can prove to be a good time to invest for the long term.'

Remunerations paid to top bosses in corporate India are increasingly coming under scrutiny, just as the gap between salaries of workers and top bosses widens. The widening gap Jayadev Galla, CMD of Amara Raja Batteries, took home over Rs 52 crore as compensation in FY23. That was about 1,872 times the median salary of the company's employees. Amara Raja Batteries heads the list of top 10 companies with the widest gap between CEO pay and median employee remuneration. An analysis of Nifty 500 companies that had released their annual reports for FY23 showed several small- and mid-cap, promoter-driven companies such as Amber Enterprises, JK Paper, Balkrishna Ind and Ratnamani Metals in the top 10, ET had reported in August.

We were well aware of September's historical reputation as a challenging month for the stock market. In fact, when we examine data dating back to 1950 for the S&P 500, it emerges as the most unfavorable month of the year.

MONTREAL — Laurentian Bank of Canada announced the appointment of Eric Provost as chief executive on Oct. 2, following a computer outage at the bank last week.

An official Chinese survey says the country's factory activity has recorded its first expansion in six months

The Japanese entertainment company that has acknowledged its founder sexually assaulted hundreds of boys over the span of five decades has taken a new name: Smile-Up

After a near 30% run-up in just three months, oil bulls are counting on OPEC to sprinkle a little more magic dust on the market. 

By Rae Wee

The third quarter was a story of dashed hopes in emerging markets, with the unraveling of some of the most profitable trades in the asset class.

Mahira Khan, who stole hearts with her stunning performance in drama series Humsafar, got married to businessman Salim Karim. A video of the ceremony became viral on social media.