"By easing the compliance burden, Sebi aims to foster the growth of passive investments in the Indian mutual fund industry," Sebi whole-time member Ananta Barua said while speaking at the mutual fund summit organised by industry body Assocham in the national capital.

​Parag Parikh Flexi Cap Fund completes 10 years of existence next week. The scheme was launched in May 2013. The scheme has offered 18.26% returns since inception.

Market experts have been asking investors to tone down their expectations from equity investments. However, if you look at the performance chart, you will be pleasantly surprised that your equity funds offered double-digit returns in one year.

The performance of the scheme will be benchmarked against the NIFTY 200 Momentum 30 Index (Total Return Index). The scheme will be managed by Devender Singhal, Satish Dondapati, and Abhishek Bisen.

​But my own belief is as interest rates start coming down the next year and supported by good growth coming in, probably we should see some kind of premium valuation starts coming in, which probably should see it coming in next year.

Kotak Nifty PSU Bank ETF and Nippon India ETF Nifty PSU Bank BeES offered 67.09% and 67.08% returns respectively in a year. NIFTY PSU BANK - TRI, the benchmark for these two schemes, offered 68.19% in the one-year horizon.

A Dynamic Bond Fund or any other debt fund which invests in long-term debt instruments is highly sensitive to interest rate movements. Thus, in a short period of time, returns could be highly volatile and can even be negative. However, over a longer time frame of over 2-3 years period, returns tend to normalise along with the interest rate cycles.

From an investment point of view, due to its lower correlation with equities and gold-like behaviour when it comes to robustness during times of economic turmoil, silver becomes a very compelling asset to be included in an investor portfolio.

I think a lot of it has to do to my mind with two or three things. One is your external account situation obviously has gone through a sea change because energy prices are down, service exports have done well. The dollar itself has weakened.

“The size of Parag Parikh Flexi Cap Fund has surely grown over the last decade. This has prompted some to wonder whether we should close for fresh investments. We are not considering this for now,” Thakkar said.

Three index funds, two thematic funds, a fixed maturity plan, value fund, and an ELSS fund are open for subscription in the market. Should you invest in these new fund offers to maximize the returns from your mutual fund portfolio?

In addition to ETF, in the index funds too, HNIs have witnessed an AUM CAGR of 145 per cent over the past four years. Apart from HNIs, retail AUM in ETFs has posted a CAGR of 56 per cent over FY19-23 to Rs 9,700 crore in FY23.

While past returns are an important parameter to consider performance, they must not be looked at in isolation. The data that a large cap fund returned 20% in the last one year does not indicate much. It must be compared with its benchmark and other schemes in the large cap space.

I am sure looking at all angles from this thing, from the investor point of view, from the industry point of view, from the intermediary point of view and more than anything else keeping in view the growth of the industry, I think the final whatever will come will be for the benefit of everybody.

The performance of the scheme will be benchmarked against S&P BSE Housing TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.

The performance of the scheme will be benchmarked against NIFTY50 Equal Weight TRI. The scheme will be managed by Sharwan Kumar Goyal and Ayush Jain.

Sebi wanted to cap the Total Expense Ratio charged by mutual funds as the total costs incurred by investors were way above the prescribed fee. The Sebi also proposed a performance-linked fee. Will it make a big difference to mutual fund investors?

The RBI announced withdrawal of Rs 2,000 notes this week and have given time to deposit the notes with banks up to 30 September 2023. Also, a withdrawal of Rs 20,000 per person per day of notes in exchange is allowed.

10-year bond yields are expected to start rallying due to inflation and weakening macroeconomic data. Rate cuts are expected to be built in over the next six months, and from RBI's perspective, around 50 bps of rate cuts are anticipated in the next year. Interest rates are expected to move lower, causing the addition of duration to all portfolios. Long bonds will perform well initially and short-term funds when rate cuts occur. Corporate bond spreads are attractive for the three- to five-year segment.

HDFC Defence Fund will follow a multi cap strategy and build a portfolio with a focus on growth and quality at reasonable valuations by investing across large-, mid- and small-cap stocks.

Around 11 mid cap schemes failed to beat their respective benchmarks in one, three, and five-year horizons. Tata Mid Cap Growth Fund, one of the oldest mid cap funds, underperformed its benchmark in all three horizons.

"Given the attractive spreads and higher interest in equities, arbitrage funds can deliver a 7% return. These returns are similar to liquid funds with better tax efficiency," said Viral Bhatt, founder of Money Mantra.

We examine the key fundamentals of the fund, its portfolio and performance to help you make an informed investment decision.

" Some signs of improvements are now showing. Earnings should start improving from 6-7% to 12-15% in around 6-12 months."

The underlying business and economic processes feed growth back into the input, enhancing growth further. That’s the actual meaning of the term compounding when applied to investments and growth.

Considering the underperformance of most mutual fund schemes, the proposal to introduce performance-linked expense ratios along the lines of Portfolio Management Services (PMS) is a step in the right direction, Gopal Kavalireddi, Head of Research at FYERS, said.

Out of 68 international schemes that are in the market, 30 schemes offered double-digit returns in this year till date. 24 schemes offered single-digit returns and 14 schemes gave negative returns.

​So I think the impact on the listed players would be minimized to the extent that they will benefit from larger flows, I would say, because their costs would be much lower compared to a smaller AMC.

​And not necessarily that every recommendation that is coming in would pass through or would get accepted or would get rejected. Therefore, one has to just see within this which are the one would actually be dropped.

The recommendations are aimed at bringing down mis-selling and reducing costs of investing in mutual funds.

Both indices had risen in early trades but gains fizzled out in the later part of the session. The Sensex ended at 61,431.74, down 128.90 points, or 0.21%, from Wednesday's close. The Nifty declined 51.80 points, or 0.28%, from the previous close to settle at 18,129.95.

The performance of the scheme will be benchmarked against S&P BSE Sensex TRI. The scheme will be managed by Raviprakash Sharma.

Multi asset funds are mandated to invest in three asset classes - typically equities, debt, gold. As per Sebi norms, they should invest atleast 10% in three asset classes. Mutual fund advisors say the portfolio composition makes them relatively safe.

As many individuals move to the new income tax regime, investment believe tax saving mutual funds might find fewer takers in the coming days. ELSS help investors to save taxes of up to Rs 1.5 lakh under Section 80C of the Income Tax Act.

There are cycles in the market between so-called value and growth and quality. I think as you really see inflation coming off, the interest rate cycle coming to a pause, if not on the cutting side, I think that leads to a significant amount of momentum on the growth side of the macro economy and at the same time growth side of the market.

The Sensex ended at 61,560.64, down 371.83 points or 0.6% from the previous close. The Nifty declined 104.75 points or 0.57% to end at 18,181.75. Short covering in the later part of the day helped both the indices recoup some of their losses after falling nearly 1% earlier in the session.

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The scheme will be managed by Shiv Chanani. The scheme will be benchmarked against the Nifty 500 Index.

Equity mutual funds invest in stocks and the stock market can be extremely volatile and risky, especially in the short term. That’s why many investors never invest in equity mutual funds to build wealth or pocket better after-tax returns.

"In a multipolar world, defence expenditure globally is set to increase as countries enhance their defence capabilities. Self-reliance in defence led by strong R&D (Research and Development) focus and enhancement of manufacturing capabilities creates opportunity for Indian companies to serve domestic market as well as tap large export potential. This could offer a multi-decadal investment opportunity," said Abhishek Poddar - Fund Manager - Equity and Senior Equity Analyst, Dealing and Investments at HDFC AMC.

Investors can use mutual fund products to invest across a range of asset classes, be it equity, fixed income, precious metals, international funds and even real estate.

"Over the past few months, we have witnessed gold prices rising. While gold prices rose, some investors would have chosen to book profits or take on risk on approach with a view that central banks would pause further rate hikes," Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said.

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After dazzling investors with impressive returns in the one year, these schemes that track the precious metal are down 4% in one month. Should investors be bothered about the recent weakness in the precious metal fund?

An ELSS fund and a thematic fund are currently open for subscription in the market. Should you invest in these NFOs to maximize the returns from your mutual fund portfolio?

We have generated more than 20% cumulative alpha over the last 2 years. Since the last 8 months, I have taken over the flexi fund which has started to see early signs of turnaround by being in the top quartile within 3 months.

Market-linked debentures (MLDs) that were earlier taxed at 10% after a holding period of more than a year are now taxed at marginal tax rates. Even investments in debt mutual funds are now taxed at marginal tax rates without any indexation benefits, irrespective of the duration of the investments.

"While March's outflow was a natural and expected year-end phenomenon. It is difficult to ascertain the reason behind this sudden turn in liquid fund inflows," Mayank Bhatnagar, Chief Operating Officer, FinEdge, said.

I think we are in the middle that is the challenge that you do not have a situation where I do not think we are in greed, if you have greed you will have huge local mutual fund inflow.

ETMutualFunds considered the daily rolling returns of 143 equity schemes that have completed 10 years of existence. These seven schemes were from large & mid cap, mid cap, and small cap categories.

Krishca Strapping, a manufacturers of high-tensile steel straps, seals, and tools, raised around ₹18 crore through the IPO, which was subscribed 244.92 times.

Crayons Advertising's IPO received an overwhelming response, with subscriptions totaling INR 4,104.67 crore, or 147.61 times the offer size. The retail portion of the offering was subscribed 169.94 times, while the non-institutional category secured 231.94 times the shares on offer. The qualified institutional buyer (QIB) portion was also oversubscribed. Based on the demand, the shares of the firm are set to be listed on June 2. The company plans to use the public issue proceeds to invest in its infrastructure and deploy cutting-edge technology.

Happy Forgings is now the largest supplier of forged and machined components to the automotive industry's commercial vehicles and tractor segments. Together, these two segments constitute 75% of its total revenues.

The Bengaluru headquartered company has roped-in Goldman Sachs, ICICI Securities, Axis Capital, and Kotak Securities as the lead managers for its initial public offering. An email sent to an Ola Electric spokesperson remained unanswered. Goldman Sachs, Axis Capital and Kotak Securities didn’t respond to the queries, while ICICI Securities’ spokesperson declined to comment

Infollion Research Services, a tech-oriented B2B human cloud marketplace, plans to raise up to INR 21.45 crore through its initial public offering (IPO), with a price band set at INR 80-82 per equity share. The IPO will open on May 29 and stay available till May 31. The proceeds will be used to expand services into the US and Western European regions, add new categories of freelancers and for technology development. Infollion's shares are reportedly trading at a premium of INR 44 in the unlisted market.

Ola Electric, which makes electric scooters, is backed by investors such as SoftBank Group Corp and Tiger Global Management, and was valued at $5 billion in its last fundraise in 2022.

The issue will be available for public subscription till May 26. The company has fixed the price band for the offer at Rs 85-90. Investors can bid for 1600 shares in 1 lot and in multiples thereof.

The initial share sale of dental products e-commerce company Vasa Denticity had a slow start with only 7% subscription on the first day, including 14% by retail investors and 3% by non-institutional investors. The company plans to raise up to Rs 54.06 crore with a price band of Rs 121-128 per share. The IPO will remain open for public subscription until May 25. Meanwhile, Auro Impex and Chemicals Ltd listed on the NSE Emerge platform after a successful IPO that was subscribed 67 times.

Indian software company Vinsys has closed a pre-IPO funding round valued at INR 200cr ($27m) and featuring Singapore's NAV Capital Emerging Star Fund and Swiss-based xMultiplied, among other investors. The Pune-based firm offers customised training courses for various sectors and employs over 800 certified IT professionals. Vinsys is planning to list on an SME exchange platform, and is seeking to expand into new markets, including the US and Europe. For the year ending March 2023, it posted revenues of INR 157.30 crore and a net profit of INR 16.02 crore.

Indian advertising agency, Crayons Advertising's initial public offering (IPO) was fully subscribed on the first day, driven by retail investors. Retail investors subscribed 3.13 times of the shares on offer, and the issue received bids that were 1.59 times the number of shares on offer. The company aims to raise around INR417.9m ($5.6m) from the IPO. The company has set the price band of INR62-65 per share, with the shares expected to debut on the NSE Emerge. The funds collected will be used to invest in the company's infrastructure and advanced technology.

The initial public offering (IPO) of state-run ECGC, India's largest export credit insurance firm, is likely to be postponed to the next financial year due to volatile export market conditions, said sources. Factors like the Russian-Ukraine war and monetary tightening by central banks may adversely affect the company's valuation if the IPO is rushed.

The government is planning to offload up to 25% stake in IREDA. It has decided to appoint SBI Capital Markets, BoB Capital Markets and IDBI Capital Markets and Securities as merchant bankers and Saraf and Partners as legal advisor for the IPO, said the official.

Hemant Surgical is planning to issue fresh equity shares of up to 27.6 lakh at a price band of Rs 85-90 per share. The company has reserved 35% of the issue for retail investors. The company has fixed QIB quota at 50% and NII quota at 15%. The GMP of the issue is expected to be around Rs 7. The company intends to use the net proceeds for funding capital expenditure towards installation of additional plant and machinery, meeting working capital requirements

Vasa Denticity is a Dental Products E-Commerce company, having 10,000+ SKUs, 30 owned brands, and 300 domestic & international brand tie-ups. The company is selling its products through the online portal 'DentalKart.com' & through the mobile application 'Dentalkart'

Nexus Select Trust is expected to list on the exchanges on May 19 and is expected to have a marginal premium of Rs 2.50 in the unlisted market. The company is offering a pre-tax yield of 8% in FY24 at the upper price band.

Crayons Advertising plans to use the proceeds from its upcoming public offering to invest in setting up its own film and animation studios and to enhance its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR and other emerging immersive tech. The public issue proceeds will be utilised for capital expenditure on infrastructure and cutting-edge technology.

The base issue comprises up to 1.70 crore shares of the company representing 7% of the total equity, with a green shoe option of 69.88 crore shares representing 2.88% stake.

Remus Pharmaceuticals is planning to raise Rs 47 crore through its initial share sale. The company is engaged in the business of marketing and distribution of finished formulations of pharmaceutical drugs. It also deals in APIs and provides technical consultancy services to various distributors for preparation of reports on the dossiers of the products to be registered by them in various countries. The IPO comprises an issue of 3.8 lakh equity shares of face value of Rs 10 each and the company plans to raise about Rs 47 crore from

Crayons Advertising, a homegrown integrated advertising agency, is set to go public on Monday, May 22, with a price band of Rs 62-65 per share. The company plans to use the proceeds from the public issue to invest in setting up its own film and animation studios and enhancing its existing foundation of Web3 capabilities to offer more dynamic Metaverse solutions, including AR, VR, and other emerging immersive tech.

Krishca Strapping Solutions has announced its Initial Public Offering (IPO), planning to raise Rs 18 crore. The manufacturing company, incorporated in 2017, specializes in making and selling high-quality steel straps, steel seals, strapping tools and other packaging solutions. The IPO's size consists of up to 33.2 lakh equity shares with a face value of Rs 10 each. The company has a steel strapping capacity of 18,000 MT annually and aims to use the net proceeds for setting up a new strapping line, repayment of debt and for other corporate purposes.

Nexus Select Trust, India's first retail assets-led real estate investment trust (REIT), backed by Blackstone Group, has raised over INR1.44bn ($19m), accounting for 45% of a $429m IPO, from 16 institutional investors in its fully-subscribed anchor book. The REIT owns 17 assets across 14 cities with Mumbai, Bangalore and Delhi being the primary markets. At the upper end of the IPO's price band, which was INR95-100 per unit, the issue was subscribed 6.55 times in the non-institutional investor category and 5.06 times by institutional investors.

Nexus Select Trust REIT IPO's share allotment is set to take place on May 16th, with the process being supervised by the registrar. Investors may receive shares based on a lottery basis. Investors can check their allotment status through the BSE or the registrar's website. Currently, Nexus Select Trust shares are commanding a premium of ₹2 in the unlisted market. The company aims to offer a pre-tax yield of 8% in FY24, at the upper price band, and will be India’s first REIT with rent-yielding retail real estate assets.

Sources told ET that the total IPO size would be Rs 900 - 1,100 crore, and the company may consider a Pre IPO placement of Rs 123 crore.

The issue received over 155,000 applications and the institutional investor portion was subscribed 5.06 times while the other investor portion witnessed 6.55 times subscription at the upper end of the price band of ₹95-100 per unit.

Nexus Select Trust's Rs 3,200-crore Initial Public Offering (IPO) that aims to establish India's first retail assets-led Real Estate Investment Trust (REIT), has been successful, with a total subscription of 5.74 times. The REIT had raised over Rs 1,440 crore through its anchor book, which was subscribed to by 16 institutional investors. The issue received over 1.55 lakh applications, while the institutional investor portion was subscribed 5.06 times, and the investor portion witnessed 6.55 times subscription at the upper end of the price band of Rs 95-100 per unit.

India's Rs 3,200 crore ($435m) initial public offering (IPO) of Blackstone-backed Nexus Select Trust, a real estate investment trust (REIT), was fully subscribed on the third day of bidding. The institutional investor segment was subscribed 1.32 times with other investors seeking 1.87 times. The issue is a mix of fresh-share offer and an offer for sale portion, gaining Rs 1,440 crore on the day before the issue opened from institutional investors. If the IPO touches the upperband of Rs 100, Nexus will have a market cap of Rs 15,150 crore, offering a pre-tax yield of 8% in FY24.

The ports business of the Sajjan Jindal-led JSW Group plans to deploy the proceeds of the public issue to retire its debt and fund capacity expansion projects. The IPO is entirely a fresh share issue.

Nexus Select Trust, the first Real Estate Investment Trust (REIT) backed by rent-yielding retail real estate assets, has been subscribed 57% on the second day of the Rs3,200 crore ($434m) Initial Public Offering (IPO), according to an update. The non-institutional investors' category has been fully subscribed while the qualified institutional buyer’s share was subscribed 17%. Blackstone sponsors the REIT, which has a portfolio of 17 operational shopping malls, two hotels and office spaces across 14 cities in India including New Delhi's Select City Walk. The issue runs until 11 May.

The JSW Infrastructure IPO is the third public listing by the JSW Group and follows 13 years after the public listing of JSW Energy in January 2010. JSW Infrastructure Promoters will not be diluting their current stake.

At Tuesday's closing price, Mankind Pharma was valued at a price-to-earnings ratio of 43 times its FY22 earnings. Mankind is now India's fifth largest pharma company by market value of ₹57,046 crore. Sun Pharma, Divi's Lab, Dr. Reddy's Lab, and Cipla are currently valued between ₹75,284 crore and ₹2.31 lakh crore.

Nexus Select Trust real estate investment trust (REIT), which includes a fresh offering and OFS portion, was subscribed 28% on the first day of the IPO. The REIT has a price band of Rs 95-100 per unit and closed on May 11. A day ahead of the IPO, Nexus raised Rs 1,440 crore from anchor investors. At the upper band of Rs 100 per unit, the company has a market cap of Rs 15,150 crore and offers a pre-tax yield of 8% in FY24. It is the largest mall platform in India and includes 17 high-quality assets.

Nexus Select Trust plans to raise Rs 3,200 crore through an 3-day IPO opening on 9 May. The firm is the owner of India's largest mall platform consisting of 17 assets. The trust will become India's first REIT with rent-yielding retail estate assets, with the IPO comprising a fresh offering and OFS portion worth up to Rs 1,800 crore.

Mankind Pharma is set to list on May 9 with a premium of Rs 120 apiece according to grey market trends. The company is valued at a price-to-earnings ratio of 30 times FY22 earnings and has a market capitalisation of Rs 44,000 crore. The initial share sale of the company was subscribed 15.32 times with strong interest from QIBs and is the largest IPO so far this year. The company has 25 manufacturing facilities across India, a dedicated in-house R&D centre and a team of over 600 scientists.

Cainiao Network Technology's initial public offering (IPO) plan comes after Alibaba flagged in late March it would split its business into six units and that most of them would explore capital raisings or market debuts to help fund future growth.

RR Kabel proposes to utilise the net proceeds towards the funding of repayment or prepayment, in full or in part, of borrowings availed by the Company from banks and financial institutions estimated to be Rs 170 crores.

The government wants Vedanta to list Balco (formerly Bharat Aluminium Co) so that it can offload a part of its stake through the initial public offer (IPO) route before exiting the company fully in due course, said the persons cited above.

India's first retail asset offering, Nexus Select Trust, will launch its IPO on May 9, closing on May 11, with a price band for its initial shares of between INR 95-100 ($1.28-$1.35). The company, which has 17 high-quality mall assets in 14 cities across India with a total leasable area of 9.2 million sq ft, is the country's largest mall platform. The IPO comprises a fresh issue of shares worth INR 1,400 crore and a sale of existing shares of up to INR 1,800 crore.

Nexus Select Trust is India’s largest mall platform of 17 high-quality assets, strategically located in dense residential catchments across 14 prominent cities such as Delhi (Select Citywalk), Navi Mumbai (Nexus Seawoods), Bengaluru (Nexus Koramangala), Chandigarh (Nexus Elante), Ahmedabad (Nexus Ahmedabad One) among others.​

Tata Play and drone maker ideaForge Technology have both received regulatory approval from the Securities and Exchange Board of India (Sebi) to raise funds through initial public offerings (IPOs). Tata Play was the first company in India to use the confidential pre-filing of draft papers option for an initial share sale in December 2022, and obtained the regulator's observation letter on April 26.

The public issue comprises a fresh issue of Rs 300 crore and an offer for the sale of 48.69 lakh equity shares. The offer also includes a reservation for a subscription by eligible employees.

The IPO comprises fresh issues of up to Rs 625 crore and an offer for sale (OFS) aggregating up to 1.7 crore equity shares by promoter and investor selling shareholders.

The company filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on February 16.

Mankind Pharma's Rs 4,326 crore initial public offering (IPO), the largest by a domestic drug maker so far in 2021 and with a 15.32 times subscription rate, will have share allotments made on 3 May via a lottery. Retail investor bids for the offer-for-sale fell below 100%. The IPO values Mankind Pharma at a price/earnings ratio of 30 times FY22 earnings, with its shares said to command a Rs 95-98 premium in the unlisted market, indicating an expected premium of 9% for the company when it lists. Mankind Pharma has 25 manufacturing facilities in India.

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.

Industry experts predict that in FY24, more small and medium-sized (SME) companies will plan to go public, further increasing the amount of money raised, following over 100% YoY growth. In FY2022-23, IPOs collectively raised over INR 2,200 crore ($296m). This was achieved through 125 issues, and it is expected that 150-200 companies from this sector could list on Indian stock exchanges in FY24. Hem Securities has supported around 80 SMEs to become listed, with many instances of over 100% returns. The objective of the SME IPO Conclave was to encourage entrepreneurs to list and share success stories.

The portfolio is 96% leased with a diversified tenant base of over 1,000 national and international brands like Apple. Zara, H&M, Uniqlo, Sephora, Superdry, Lifestyle, Shoppers Stop, Starbucks, McDonalds among others across around 3,000 stores.

The conglomerate, controlled by billionaire Mukesh Ambani, is in talks with Indian regulators to secure the necessary approvals for the market debut of Jio Financial Services Ltd. in Mumbai, one of the people said, asking not to be identified as the information is private. The parent is holding a meeting of shareholders and creditors on May 2 to vote on the plan to spin off and list the unit, according to an exchange filing in March.

This will be one of the largest public issues by a domestic drug manufacturer after the ₹6,480-crore IPO of Gland Pharma in 2020. The qualified institutional buyers (QIB) category was subscribed 49 times, while the non-institutional investors or high net-worth individuals' portion was subscribed 3.8 times. However, the retail investor's portion was under-subscribed at 92%.

Around nine brokerages have given "subscribe" recommendations on the issue, with some of them seeing the potential in the long term. Analysts say the growth opportunities outweigh the concerns around not so cheap valuations.

Nikhil Zelawat, a trader and fintech entrepreneur from Mandsaur, has developed two trading tools, including a trade journal and an emoji-based stock screener, to simplify data use. The screener uses various emojis to represent technical parameters and the resulting "face" helps Zelawat to understand the data and take appropriate action. He additionally elaborates on his profitable trading strategies, including the use of 3-4 systems for trending and sideways markets. Zelawat spent two years as a software engineer in Bengaluru before becoming a full-time trader with mentor support.

Indian equities climbed up by 1% as the Reliance Industries and IT giant stocks surged upwards. Domestic investors are optimistic that India's FY23 GDP is expected to exceed the earlier growth rate of 7.0%, as the country is likely to have a normal monsoon and consistent FII buying, boosting its economic growth further. The bullish trend is likely to continue, and traders are looking for a broader range of support and resistance levels. Elsewhere, US talks of raising the debt ceiling have led to a growth in European shares and Wall Street's indexes.

Copper prices have fallen over 8% on the back of lower-than-anticipated demand from China, which is the largest consumer of the metal, accounting for over 50% of global consumption. Copper had been rising at the start of the year on the expectation that China’s property market would strengthen, but disappointing economic releases have weighed on the price. The industry is considered a leading indicator of global economic health and is used widely in renewable energy technologies, electronics, vehicles, and electrical grids. The US Federal Reserve's policy measures also put a dampener on business sentiment.

There are different types of fixed-income instruments that are available in the market. Bonds and Public Provident Funds (PPF) are two such instruments that are quite popular among investors. While both avenues offer assured returns, they are quite different. Before starting with the investments, investors should understand the concept of bonds and the Public Provident Fund and see how they differ.

Money managers draw analogies between cricket and investing. Abhishek Banerjee, smallcase manager and CEO of Lotusdew, compares RBI's management of inflation to India's 1983 Cricket World Cup win. Banerjee says he picks pinch-hitters like a captain selects strategies for a cricket match. He believes it's necessary to have all types of players, like heavy hitters and good fielders in a cricket team, for a successful investment portfolio. Banerjee sees an index fund as playing a Test match and a stock basket for T20 and One Day matches in investment strategies.

Hi-Tech Pipes Ltd has reported a 42% increase in its consolidated net profit to nearly INR 16 crore in the March 2023 quarter, driven by higher revenues. The revenue from operations increased by 18% to INR 701.85 crore compared to the year-ago quarter. Its Chairman and Managing Director (CMD) Ajay Kumar Bansal said that the company has registered the highest-ever sales volume, revenue, PAT, and EBIDTA during this quarter. Additionally, its greenfield facility of large diameter pipes in Gujarat is expected to commence commercial production from the third quarter of FY24.

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The outlook for gold is weak due to the US debt ceiling crisis nearing resolution and the strong Dollar Index. Physical gold and silver buyers can take advantage of the expected correction in prices. Gold prices in Delhi are at around Rs 60,800 per 10 grams, while silver is priced at Rs 73,000 per kg. Traders can book profits in gold and silver futures, said Anuj Gupta, VP of Commodity and Currency Research at IIFL Securities. June Gold futures have support at Rs 58,800-Rs 59,400 and resistance at Rs 60,000-Rs 60,400, while support for Gold futures on COMEX is at $1920-$1890 and resistance at $1960-$1980.

Nifty stocks fell short of the estimated 10.6% with 9.7% while Nifty 500's earnings improved by 11.7% compared to the estimated 8.9%, indicating the outperformance of mid- and small-caps. Equity markets will take cues from macro data, US debt negotiations, and central bank policy meetings. Companies such as Adani Transmission, IRCTC, NHPC, Torrent Power, and Mazagon Dock Shipbuilders are among many to release the Q4 earnings in the last week of May.

​​Even though stock prices may have moderated, broad valuations have not valued the full trouble. Like the one-year forward valuations of large and midcaps continue to trade at a premium. India’s one-year forward consolidated P/E is at +18x, marginally above the long-term average of 17x. The Q4FY23 result is mixed, and the outlook suggests a downgrade in earnings for 2023.

Founder and CEO of Hedged, Rahul Ghose, predicts that both Nifty and Bank Nifty will exceed previous highs in June, especially with strong support from foreign institutional investors in the cash market. Ghose advises that corrections in the market should be seized as buying opportunities. Past their all-time highs, Ghose expects the rally to slow down, however, the extent and speed of the rally will depend on the magnitude of FII flows. Likely to continue on its upward journey, Ghose suggests entering long on Apollo Tyres this week.

Gold prices closed the week with a loss of 1.60% at $1945.74, with the US dollar index recording a weekly gain of about 1% to reach 104.23, and 10-year US yields at 3.79% on Friday. Mixed US data releases on 27 May were mostly positive for the dollar and negative for bonds and gold, with real personal spending showing strength at 0.50%. A debt ceiling deal between US policymakers remained possible ahead of the 6-9 June date, boosting macroeconomic sentiment and hitting gold.

“The 4% less monsoon rainfall than the long period average of 100% can be attributed to an expected El Nino event in the Pacific. At present, in the equatorial Pacific, neutral conditions are there. However, model forecasts are showing that and the temperature are also seen warming over that region. Most of the models are indicating that in the next 2-3 months it will reach El Nino conditions.”

Foreign Portfolio Investors (FPIs) have invested Rs 37,316 crore in Indian equities in May, the highest in the past six months. This inflow is attributed to strong macroeconomic fundamentals and reasonable stock valuations. A positive resolution on the US debt ceiling and good domestic macro-economic data could lead to fresh asset flows from foreign investors. The recent quantitative tightening cycle in the US and India's outperformance in global equities has improved the FPI flow outlook. The sustained buying by FPIs has pushed the NSE's Nifty benchmark index up 2.4% in May so far.

The combined market valuation of seven of the top-ten most valued firms jumped Rs 1,51,140.39 crore last week, with Reliance Industries and Tata Consultancy Services emerging as the biggest gainers. While Reliance Industries, Tata Consultancy Services (TCS), Hindustan Unilever, ITC, Infosys, State Bank of India and Bharti Airtel made gains in their market valuation, HDFC Bank, ICICI Bank and HDFC faced erosion

Based on the midcap index's fresh life highs and Nifty testing psychological 18500 levels, analysts suggest that the index may maintain a positive bias and move towards 18800-18850 levels by the expiry, with aggressive put writing visible at 18400 and 18300 strikes for the coming week. Analysts advise bullish traders to opt for the long 18500 Call with a target of 150 and stop loss of 45 until expiry, as the open interest at the inception of June series and FII positions remain relatively low and fresh longs are formed in the index. However, high Nifty premiums may remain a cause of concern.

​VWAP or Volume Weighted Average Price is the average price of a stock, adjusted for its volume.​

ITC, Infosys and SBI will trade ex-dividend this week. ITC's board recommended a final dividend of Rs 6.75 and a special dividend of Rs 2.75 per equity share. SBI declared a dividend of Rs 11.30 per equity share and the payment date is fixed on June 14. On the other hand, Infosys has announced to pay a final dividend of Rs 17.50 per equity share. The record dates for the dividend payments have also been announced.

Indian stock markets ended the last week of May with strong gains and have begun the June series on a positive note; the Nifty50 gained 1.63% for the week and crossed the resistance of 18,400 to close at 18,499.35. Investors are advised to remain cautious as we approach the June series expiry. Markets will take cues from Wall Street, which will remain closed on Memorial Day. The week will also bring several important domestic and global economic events for investors to track, along with the possible impact of movements in the US debt ceiling, crude oil prices, and government bond yields on market performance.

The tentative deal between President Biden and Kevin McCarthy to raise the US debt ceiling may have negative consequences for financial markets. Once the deal has passed, the government is expected to make large bond issuances, which could lead to a liquidity drain from banks and cause financing to become more expensive for companies already struggling in a high-interest rate environment. Some banks fear that markets have not yet accounted for this risk, and some warn that delaying the resolution could cause volatility in the market. However, some believe that the drain on liquidity could be absorbed by money market mutual funds.

“It has been a while since Reliance Industries consolidated. The earnings were pretty strong. The O2C segment did pretty well while Jio continues and retail continues to get more traction. Also, the demerger of Jio Financial Services was another small trigger and the market was valuing it at about Rs 200-220.

“I do sense that there is a growing appetite for equity amongst the HNIs and family offices as well. And that trend is going to continue. And this entire piece of financialisation or savings is certainly very beneficial for Indian equities. As such, we have been in a decent bull market right from the lows of the pandemic.”

The company's total income, however, rose to Rs 3,643.02 crore from Rs 3,107.04 crore in the year-ago quarter.

Sundar has settled a case with markets regulator Sebi by returning the advisory fee and disgorging over Rs 6 crore. The case related to PR Sundar and Mangayarkarasi Sundar, promoters of Mansun Consulting, offering investment advice without the necessary registration from the market regulator.

We enter a “decisive” week; going by the technical setup on the charts, markets may look at initiating a definite directional bias this week and whatever trend it catches on may stay on at least for the short term.

In global markets most of the central bankers are veering towards stopping the rate hikes and therefore the interest rate peaks are somewhere closer which should signal that the markets are now well and truly set on a fundamental course. Results will dictate the move ahead.

Gold prices are heading for their third weekly decline after experiencing a surge in early May, soaring to a 33-month high of $2,085.4 per troy ounce. Hawkish comments from Fed officials, strong economic data from the US, and positive talks on the US debt ceiling have all boosted the dollar index and US benchmark treasury yields, forcing down bullion commodities.

In the aftermath of this turbulent episode, investors have become increasingly vigilant. They are actively seeking ways to analyse a bank's liquidity and want to ensure its ability to withstand adverse situations.

Star Health Insurance was the top loser and the stock fell 8.8% over the week. Overall 12 block deals were executed worth Rs 668 crore, according to a Nuvama report. Over 1.21 crore shares changed hands at an average price of Rs 551, this report said.

Shares of National Aluminium Co (Nalco) surged by over 5% as its Q4 revenues and profits beat market estimates. The Indian government-run firm is hopeful of profitability looking up in the current fiscal even though prices of aluminium may remain subdued due to tepid economic expansion globally.

According to Mileen Vasudeo of Arihant Capital Markets, Nifty is expected to cross its initial resistance level of 18,650 and reach its prior all-time high soon, with the possibility of further gain. Bank Nifty is also likely to see a fresh all-time high and extend its gains towards 44,500 to 44,800 levels. Stock recommendations include VRL Logistics and Tata Elxsi, with expectations that both may see higher levels in the coming weeks.

​VWAP is an important metric as it offers pricing insight into both the trend as well as value of a stock. ​

​For some 6 counters from the largecap basket, the closing price of stock has gone above last month’s high. This is a bullish indicator as it indicates the stock is moving upward and has crossed the last month’s high.​

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​These stocks have edged higher despite the Nifty Financial Services index ending in the red this week.(​

GRM Overseas, a smallcap company with a market capitalization of about Rs 1,032 crore, is engaged in the business of milling, processing and marketing of branded and non-branded basmati rice in the domestic and overseas market.

The proposed acquisition does not include shares held by Sun Pharma and its affiliates. After the completion of the deal, Sun Pharma will have a 100% holding in the company.

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The overall view for the next series is positive for Nifty with an upside potential to reach 18800-19000. On the lower end. 18200 will continue to act as crucial support for the June series.

So, what is this USA Debt Ceiling and what impact will it have on Global Financial markets? The USA government spends more money than it earns and therefore it needs to borrow money to pay its bills. In an attempt to control the level of debt, it can only borrow up to a certain limit and that certain limit is called the Debt Ceiling.

China's industrial firms saw an overall 20.6% drop in profits from January to April compared to the same period last year, according to data from the National Bureau of Statistics. The fall was due to margin pressures and soft demand amid the country's faltering economic recovery. The grim profit readings come after April economic indicators, including industrial output, retail sales and property investment, suggested China's recovery is slowing down. Foreign firms' profits slid 16.2% and private-sector firms' profits plunged 22.5% in January-April. In response, China's government will focus on restoring and expanding demand, NBS statistician Sun Xiao said.

The U.S. government will spend $936 billion on non-defense discretionary spending in 2023, the Office of Management and Budget estimates, money that goes to housing, education, road safety and other federal programs.