After a world-beating performance this year, the Indian market seems to be entering into a turbulent phase with both global and domestic headwinds limiting major upside in the medium-term.
He is poor. His neighbour is poor. How do they manage? They borrow from each other.” Read during my college days, the above lines clearly bring out the importance of borrowing in day-today life.
Jinesh Gopani, fund manager and head of equity at Axis Mutual Fund, has over 17 years’ of capital markets experience to his credit. An MMS in finance from Mumbai University, Gopani joined Axis Asset Management from Birla Sun Life Asset Management Company. That was in 2009.
The import of Vietnamese pepper, which is being routed through Sri Lanka, had been on the rise despite the imposition of minimum import price of Rs 500 per kg by India. And now the Sri Lankan government has decided to issue a certificate of origin for any pepper being exported from that country.
Jeera prices have been falling in the past two months on lower export demand and higher arrivals in the market. The commodity will continue to be in the correction mode in October as well, but is expected to move up as the new crop is sown.
India’s trade deficit narrowed to $17.4 billion in August from a 5-year high of $18.02 billion in July, helped by a pickup in exports after a fall in the rupee, said Rajiv Ranjan Singh, CEO of Karvy Stock Broking, in an interview with Sangeetha G.
Last week saw even the last of the Nifty bears, who had been in hibernation for very long, coming back to the market. It was the fourth consecutive week the Nifty had closed at a level below its opening.
For all those traders who had forgotten that taking short position is also a trade, the September series was a reminder that a trade can be placed in both directions.
The current corrective phase in the stock market would, in all probability, run for more time.
Sachin Relekar is fund manager-equity at LIC Mutual Fund. Relekar, who joined LIC MF in late 2012, has spent more than eight years in equity research across sectors like construction, infrastructure developments, power utilities, steel, oil & gas and automobiles.
The pace of recovery in the Indian economy from the twin shock of demonetisation and implementation of GST has been quite encouraging.
Gold prices hardened by Rs 50 to Rs 31,700 per 10 gram at the bullion market on September 21. It was in line with a firming trend overseas. It also coincided with an increased buying by local jewellers.
Since the US and China have locked horns in a tariff war, base metals have been at the receiving end. But it witnessed some bounce last week as the market started anticipating trade war fears to dissipate.
Critical illnesses happen when it is least expected and brings ample amount of stress and worries. At a time like this, finances should be the last issue that one should have to worry about.
In June, subscriber growth continued and was led by a rise in data subscriber. During the month, 15.5 million wireless subscribers were added, indicating a monthly growth rate of 1.3 per cent.