In repo transactions, also known as a repo or sale repurchase agreement, securities are sold with the seller agreeing to buy them back at a later date. The instrument is used for raising short-term capital.

The fund manager for SAMCO Active Momentum Fund is Paras Matalia, a seasoned investment professional with a deep understanding of momentum-based strategies. With his expertise and experience, Matalia will oversee the fund's investment decisions and work towards maximizing returns for investors.

“The Reserve Bank of India maintained status quo on Policy rates as expected and confirmed the expectations of a long pause with a slightly hawkish undertone as it retained the Monetary Policy stance at “Withdrawal of accommodation to ensure that Inflation progressively aligns with the target, while supporting growth,” says Puneet Pal, Head-Fixed Income, PGIM India Mutual Fund.

Most money market pundits expected the RBI to hold rates today as the inflationary and growth scenarios were positive. What does it mean to mutual fund investors, especially debt fund investors?

Since its lows of March 23, 2021, the Nifty PE has risen from 18.49 and now stands at 21.70. In the same period, its price to book value rose sharply from 2.34 to 4.9 and dividend yield fell from 2 to 1.45. During this period, the Nifty returned 125.8%

The Sensex closed at 63,142.96, up 350.08 points, or 0.56%, from Tuesday's close. The Nifty advanced 127.40 points, or 0.68%, to settle at 18,726.40. Both indices are now within 1% of their respective all-time highs recorded on December 1 last year.

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should you invest in NFO?

Investors generally use the growth option of an equity-oriented or hybrid scheme to start an SWP. Financial planners advise investors to avoid narrow thematic and sectoral funds.

EPAM cut its sales growth guidance for 2023 by an unexpected 500 basis points citing a slowdown in discretionary spending. The company now sees its revenues lower by 2% on a year-on-year basis, compared to its earlier guidance of a 3% growth.

​Large cap mutual funds are ideal for conservative investors

Sanjiv Bajaj, Chairman & Managing Director, Bajaj Finserv, said, “We are committed to being a full-stack financial solutions provider to meet India’s growing needs and building deeper, long-term relationships with customers who are already invested in us. The launch of asset management helps diversify our retail franchise and leverage Bajaj Finserv companies’ combined strength in financial services across a much larger customer base.”

Anish Tawakley, fund manager of the Scheme and Deputy CIO-Equity and Head of Research, ICICI Prudential Asset Management Company, notes, "Over the years, picking high conviction stocks with buy and hold approach in large-cap companies with proven track record, quality management, good growth potential has worked well for the scheme."

Two index funds, a multi asset allocation fund, focused fund, thematic fund, an ETF and ELSS fund are currently open for subscription in the market.

The portfolio construction strategy of the scheme will be 45-55% in fixed income, 35-40% in equity arbitrage, and 10-15% in gold and silver arbitrage. The portfolio helps the scheme to qualify for long-term capital gains tax.

The RBI certainly seems to be on a pause mode. And in fact, global central banks also, especially the US Federal Reserve, also seems to be indicating that they would pause soon.

The performance of the scheme will be benchmarked against Nifty 500 TRI (40%) + Nifty 5 year Benchmark G-Sec Index (50%) + Domestic Gold Prices (5%) + Domestic Silver Prices (5%). The scheme will be managed by Bhavesh Jain and Bharat Lahoti (Equity), Dhawal Dalal (Debt), Amit Vora (Overseas), and Ashish Sood (Commodities).

​Mutual fund investors are always looking for great returns

Kaustubh Belapurkar, Director - Manager Research, Morningstar India, also believes that investors' interest in ESG funds will increase on growing awareness towards such funds in coming years.

Inflation has been tamed but is still above the comfort zone of the RBI. The Ukraine crisis remains unresolved. In the US, though the debt ceiling deal has averted a default catastrophe, analysts say a recession appears imminent. These factors are likely to keep gold and silver prices buoyant in the coming months.

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

According to an ET poll with 16 respondents, the six-member rate-setting panel is seen maintaining the benchmark policy repo rate at 6.50% during the June 6-8 meeting, marking the second consecutive instance of it holding off on policy tightening. The respondents were unanimous in their expectation.

​PPFAS Mutual Fund completed 10 years in May. In an interview Neil Parikh shared his plans for the fund house.

Gold prices started May on a high with the background of pain in the US banking sector leading to global risk aversion, the report said. The Fed policy at the start of the month where the Fed chair hinted at flexibility and a meeting-by-meeting approach was considered dovish by markets. This also supported the prices.

"Smallcap valuations are attractive compared with larger peers. Smallcap Index is trading at a discount to largecap index. It was trading at a premium to the largecap index during the euphoria of 2007 and 2017. People who invested in smallcap stocks back then suffered losses or accrued sub-par returns. The current valuations of small-caps seem reasonable," says Sahil Shah of Edelweiss MF.

​In about 20 years, these six states have reached where India was yesterday. Now, if all of us continue to work in similar fashion for next 20 years, these six states will create today's five India.

Wealth managers believe the Nifty Next 50 represents the next rung of liquid securities after the Nifty 50 and recommend an allocation to this index for equity investors. The Nifty Next 50 trades at a one-year forward price-earnings ratio of 28, compared with its five-year average of 28.93, making valuations reasonable.

The markets regulator, in its consultation paper issued last month, proposed that AMCs should put in place robust surveillance systems and internal control procedures, to deter possible misconduct by employees or other entities which may have information relating to fund management or investments of mutual fund schemes.

Sebi had placed a consultation paper on the review of the total expense ratio (TER) charged by AMCS to unitholders of fund schemes on May 18 and sought comments till June 1 on the proposal.

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This policy decision should not have any material impact on the bond market though there could be minor fluctuation in yields depending on policy stance and language.

​These schemes have high risk. But they also have potential to offer higher returns.

​So, one problem is in a way out of the way and alongside which we have also seen actually interest rates presumably going into a bit of a pause mode as far as we can understand and which is again a little better than our expectations because that was supposed to come about more in the second half of the year which basically means that PE multiple decline from year essentially is arrested and that problem at one level is out of the way.

Out of 167 equity schemes that have completed five years in the market, 107 schemes failed to beat their respective benchmarks. These 107 schemes were from across the categories such as contra fund, ELSS, flexi cap, focused fund, large & mid cap, large cap, mid cap, small cap, and value fund.

Wealth managers recommend investors put some money in international funds to geographically diversify their equity portfolios, hedge currency risks, and gain exposure to companies in cutting-edge technology areas that are not available in India

The Sebi chief said mutual funds are an important vehicle to encourage investors to participate in the markets. Buch expressed confidence in the industry's potential and said its asset size could grow from the current ₹40 lakh crore to ₹100 lakh crore.

Are you looking to invest for three years?

A lumpsum investment made on May 24, 2020 of Rs 10,000 in these 15 small cap schemes would have grown between Rs 27,450 to Rs 43,833 in the three-year period.

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

Data provided by CRISIL Market Intelligence and Analytics to ET showed that MF investments in AT-1 bonds crashed to ₹5,382 crore in April 2023, from ₹25,057 crore in January 2020.

Benchmark indices rose to their highest level in nearly six months led by the financials, with the Sensex briefly surpassing the 63,000-mark before trimming some of its gains.

The Securities and Exchange Board of India (SEBI) may negatively impact India's mutual fund sector with its proposal to review total expense ratio (TER) regulations, according to brokerage Nuvama. The sector's net profitability could fall by up to 27% from listing asset managers' 2024-25 net operating profits due to changes potentially increasing annual fees to include items such as securities transaction tax (STT) and brokerage.

​New investors are confused about which mutual funds to start investing in to create wealth.​

ITI Focused Equity Fund will be benchmarked against Nifty 500 Total Return Index. The fund will be jointly managed by Dhimant Shah and Rohan Korde.

Siddharth Srivastava, Head - ETF Product, Mirae Asset Mutual Fund said, “Silver is widely considered to be a relatively in times of economy turmoil and a good hedge against dollar, just like gold. In addition to these factors, silver price has found support from its growing use in industrial settings, which now accounts for roughly half of the silver annual demand. These factors make silver a very compelling asset to be included in an investor’s portfolio either from a long-term point of view or for tactical allocation based on various technical indicators.”

"Due to the recent changes in debt taxation, there could either be some change to our existing hybrid scheme or a new scheme offering may be considered given the changed environment. Our preference is not to launch too many schemes and clutter the offering," says Neil Parikh of PPFAS Mutual Fund.

The portfolio is well diversified yet retains large positions in its top bets. The fund endured a blip in performance between 2017-2020 but came back strong in 2021 and 2022. The shift in market’s preference towards value has helped the fund recover smartly.

"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.

The portion reserved for qualified institutional investors was subscribed 164 times, while the portion for non-institutional investors, or high-net-worth individuals, was subscribed 63 times. The retail portion was subscribed 14 times.

Urban Enviro Waste Management, the waste handling and management services provider, has announced an Initial Public Offering (IPO) to raise INR11.42 crore ($1.6m). The sale opens on 12 June and closes on 14 June with shares due to be listed on NSE EMERGE, a platform for small and medium-sized enterprises. The sale consists of a fresh issue of 920,000 equity shares with a face value of INR10 each, aggregating to INR9.2 crore; and an offer for sale component of 222,000 equity shares. The net proceeds will be used for repaying certain secured borrowings, and other purposes.

Valiant Laboratories is an Active Pharmaceutical Ingredient (API) or bulk drug manufacturing company with its focus on manufacturing Paracetamol, which is used in the treatment of headache, muscle ache, arthritis, back ache, toothache, cold and fever.

Infollion Research Services stocks made an exceptional debut on NSE Emerge platform with shares listed at Rs 209, a premium of 155% as compared to its issue price of Rs 82. The shares then fell by 13% to Rs 198.55. The public offer of the company was subscribed 279 times at close, with non-institutional investors contributing 560 times bids and retail investors' portion subscribed 264 times. The company will use the raised funds for expanding its current service line in the US and Western European region, adding categories of freelancer and technology development.

HMA Agro Industries' initial public offering (IPO) worth INR 480 crore ($63.5m) will be open for public subscription from 20-23 June with a price band of INR 555-585 per share. The IPO includes an offer for sale of INR 330 crore by promoters and selling shareholders. Aryaman Financial Services is the book-running lead manager to the issue and Bigshare Services is the registrar. HMA Agro Industries proposes to utilise the net proceeds of the fresh issue for working capital requirements and general corporate purposes.

IKIO Lighting's Rs 607 crore initial public offering (IPO) has been oversubscribed 11.46 times on strong demand from non-institutional investors. The company has set a price band of Rs 270-285 per equity share with a minimum bid of 52 shares. The issue comprises a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The grey market premium of the company has been on an upward trend and its shares are commanding a premium of Rs 118 in the unlisted market.

The IPO of IKIO Lighting, which closes on June 8, has been subscribed 6.83 times so far, with non-institutional investors leading the heavy bidding. The company's shares are commanding a premium of Rs 118 in the grey market, with listing gains looking increasingly likely.

Valiant Laboratories Ltd, the subsidiary of Valiant Organics said it has filed a draft red herring prospectus (DRHP) for an initial public offering (IPO) with stock market regulator Sebi.

Tata Technologies, a unit of Tata Motors, is expected to list its IPO in five to six months. In the unlisted market, shares are trading at around Rs 850. Analysts expect the stock to list at a premium and currently predict a bump of between 20% and 30%.

The price band for the issue has been set at Rs 169 to Rs 173 per share, and the IPO size is estimated to be about Rs 105.14 crore at the upper price band. Proceeds from the IPO will be utilised to support the company's working capital requirements, acquisitions of businesses in similar or complementary areas, general corporate purposes and meeting its issue expenses.

The issue, which closes on June 8, comprises a fresh equity issue of up to Rs 350 crore and an offer for sale (OFS) of up to 90 lakh shares. The company has set a price band of Rs 270-285 per unit and investors can bid for a minimum of 52 shares in one lot and multiples thereafter. At the upper end, the company plans to raise about Rs 607 crore.

IKIO Lighting designs, develops, manufactures and supplies products to customers who then further distribute these products under their own brands. The company is largely into manufacturing premium products. Its products are categorized as LED lighting, refrigeration lights, ABS (acrylonitrile butadiene styrene) piping and others.

The company informed the bourses that it allocated 63.8 million shares at ₹285 per share on Monday to anchor investors, including HDFC Mutual Fund, ICICI Prudential Mutual Fund, Goldman Sachs AMC, Malabar India Fund, Mirae Asset Global, among others. The company has fixed the price band for the public issue at ₹270 to ₹285 per share.

The public sector bank, which wants to monetise its non-core assets, held consultations with investment bankers recently to carry out the proposed stake sale, said the people aware of the developments.

Hemant Surgicals made a strong debut on the BSE SME platform with its shares being listed at a 90% premium over its issue price of Rs 90. The stock closed at Rs 179.55, a nearly 100% increase over the offer price. The company's Rs 24.8 crore public offer was oversubscribed by 139 times.

Pune-based IT services firm Vinsys IT plans to use the book-building process to float 3.89 million equity shares of Rs 10 each, and will appoint merchant bankers to the issue.

Sonalis Consumer Products is set to launch its initial public offering (IPO) on June 7, which will end on June 9, and will offer up to 9.44 lakh equity shares at a price band of Rs 30 per equity share of face value of Rs 10. The company aims to raise around Rs 2.83 crore from the public offer, which will be used for working capital requirements, other corporate purposes, and issue expenses. Sonalis Consumer Products is engaged in manufacturing nutritional bars and healthy snacks and has a limited number of raw material suppliers with significant competition in the business.

Noida-based company IKIO Lighting's Rs 607 crore initial public offering (IPO) will open for subscription on 1 June and close on 8 June. The company's stock is commanding a premium of Rs 92-94 in the unlisted market, indicating the demand for the shares, according to market sources. Grey market premiums are subject to change. The IPO consists of a fresh equity issue of up to Rs 350 crore and an offer for sale of up to 90 lakh shares. The net proceeds will go towards general corporate purposes, investment in subsidiary IKIO Solutions, repaying borrowings, and setting up a new facility in Noida.

BYJU'S, the leading edtech company, will launch the Initial Public Offering (IPO) for its subsidiary Aakash Education Services by mid-next year. AESL is expected to earn revenue of Rs 4,000 crores with operational profits of Rs 900 crores in FY23-24. The IPO will provide significant capital infusion to enhance Aakash's infrastructure and reach, extending high-quality test-prep education to a larger number of students.

Long-term investors may consider the IPO given the consistent growth in its contract manufacturing for Signify India (erstwhile Philips India) driven by new product development, strong position in customised lighting solutions in the growing segment of branded retail stores, superior operating margin than its peers, and emerging growth opportunities from exports by supplying lighting products for recreational vehicles in the US.

Nuvama PE is currently investing from its third late-stage/pre-IPO fund under the Crossover Opportunities banner. This fund has so far raised ₹3,800 crore. The latest crossover fund has invested in companies such as Ola Electric and DailyHunt.

IKIO Lighting has set a price band of Rs 270-285 per equity share for its upcoming IPO. The Noida-based company has reserved 50% of the offering for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors. The IPO comprises a fresh equity issue of up to Rs 350 crore and offer for sale of up to 90 lakh shares by selling shareholders. Meanwhile, Sonalis Consumer Products is set to launch an SME IPO on June 7 with a fixed price of Rs 30 per equity share.

Maharashtra-based passive telecom infrastructure provider, Kore Digital's initial share sale opened on Friday with a price band of INR 180. This IPO is a fresh issue of up to 10 lakh equity shares of face value INR 10 each, aiming to raise around INR 18 crore. The net proceeds will be used to meet working capital requirements, investment in strategic acquisition, and other general corporate expenses. The allotment will be on June 12th and the shares will be listed on NSE Emerge on June 15th.

Indian LED lighting solutions manufacturer IKIO Lighting is launching its initial public offering (IPO) June 6-8, with shares expected to start trading on June 16. The company's shares will likely be listed at between INR270 ($3.81) and INR285 per equity share, with the upper end of that range raising INR607 crore for the company. The IPO will include a fresh equity issue of up to INR350 crore and an offer for sale of up to 9 million shares. The proceeds will be used to repay borrowings, invest in subsidiary IKIO Solutions and for general corporate purposes.

Investors can bid for a minimum of 52 equity shares and in multiples of 52 thereafter. Under the OFS, promoters Hardeep Singh will offload 60 lakh shares, and Surmeet Kaur will sell about 30 lakh shares.

Indian LED lighting solutions manufacturer, IKIO Lighting, has set a price band of INR 270 to INR 285 for its initial public offering (IPO), which opens for subscription on June 6 and is available until June 8. The IPO comprises a fresh equity issue of up to INR 350 crore and an offer for sale of up to nine million shares. 50% of the offer has been reserved for qualified institutional buyers, 35% for retail investors, and 15% for non-institutional investors.

Infollion Research's initial public offering (IPO) has been subscribed 5.68 times on Day 2, with one day remaining. The IPO includes a fresh issue of 22.24 lakh units and an offer for sale of up to Rs 3.92 lakh shares, priced between Rs 80-82. Infollion Research Services runs a marketplace catering to on-demand contingent hiring and work arrangements. The net proceeds will be used to fund expansion into the US and adding new freelancer categories. CFF Fluid control's IPO has so far been subscribed 54% on Day 1. The company's offer is a fresh issue of 52 lakh equity shares.

CFF Fluid Control is set to launch an initial public offering, with plans to close subscriptions on June 2 and list on the BSE SME platform on June 12. The Indian company specialises in manufacturing and servicing shipboard machinery for the Indian Navy, as well as systems for clean and nuclear energy. The issue offers 52 million equity shares for sale at Rs165 ($2) apiece, with the company hoping to raise up to INR858m ($13m). The retail-to-institutional investor ratio is 50:50. The cash raised will repay loans, fund working capital requirements and pay for equipment and "general corporate purposes.

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.

Equities across the Asia-Pacific region soared to their highest point since mid-February after an overnight rally on Wall Street, with investors betting that the US Federal Reserve would not raise rates this coming week. The positive speculation was supported by falls in Australian and Japanese bond yields in line with those in US Treasury bonds, and the US dollar remained subdued during early Asian trading. MSCI’s broadest index of Asia-Pacific shares rose by 0.6%, boosted by a 1.66% jump in Japan’s Nikkei. However, traders’ fears over future rate hikes were not eliminated, with the odds still holding at one in four for a rate increase on 14 June.

Equity benchmarks, BSE Sensex and Nifty, ended in negative territory after RBI kept the interest rate unchanged. Paytm gained 6%, Nestle was up 4%, while Bajaj Finserv's shares fell nearly 1% on Thursday. Amol Athawale, VP-Technical Research Analyst at Kotak Securities has suggested 740-735 is the level to watch out for Key trades for Paytm while Inox Wind could rally towards 155-160. Bajaj Finserv still has a positive medium-term texture with a sacrosanct support zone of 20-day SMA or 1440 for trend following traders.

​If you look at consumption, especially the discretionary stocks, valuations are more stretched out there. So, in that context, I think FMCG valuations is not a big risk but given still slightly elevated level of valuations, your returns may not be very high but I think the risk reward is looking good because both margins and volumes will see an uptick over the next two to three quarters

​So, this is a very-very positive statement coming out of the RBI that the formal guidelines around FLDG would be published very soon.

The S&P 500 has officially entered a bull market, defined as a 20% or more rise from the most recent low. The new bull market began on October 13, 2022, but the stock market's rally is largely due to the US economy not falling into recession despite inflationary fears. The prevailing belief now is that the Federal Reserve will soon stop raising interest rates, but the persistent inflation could change that. Most of the gains for the S&P 500 this year have come from a small group of stocks, sparking concerns over its sustainability and the limited breadth of the rally.

The S&P 500's 20% gain from its October 12 closing low shows the start of a new bull market, but there is no set definition or regulatory body that declares one, leading to varied opinions among market participants. While the most commonly accepted definition is a 20% rise from a low, it is open to interpretation. Further, some analysts require a time element to their bear market criteria, necessitating a low to remain intact for at least seven months, to remove the risk of a rapid reversal. Finally, various other viewpoints exist on what constitutes a bull or bear market, with no consensus reached yet.

Gold prices recorded a slight dip on Friday, as bullion headed for its weekly gain on the assumption that the US Federal Reserve may pause rate hikes in its upcoming meeting. Spot gold retreated by 0.2% to $1,964.52 per ounce, recovering from Thursday’s 1% climb after data showed that US weekly jobless claims surged last week, adding to the belief that the Fed will halt its interest rate-hiking cycle. Meanwhile, the US consumer inflation report due on 13 June will provide further transparency into the economic state of the world's largest economy.

Oil prices fell as demand concerns outweighed the prospect of tighter supply from global producers and investors remained sceptical that the US and Iran could strike a nuclear deal. However, there is both upside and downside pressure on prices, amid fears over tighter supply and expectations of higher demand as the US enters driving season being offset by worries over further US interest rate hikes and a slow pickup in China's fuel demand. For the week, both benchmark prices were on track for about 1% losses and for a second week of losses.

The dollar has fallen due to lower US Treasury yields, after a rise in weekly jobless claims suggested that interest rates were peaking. The focus now shifts to the upcoming week which will see the Federal Reserve, European Central Bank and Bank of Japan announce details of their interest rate decisions after their respective policy meetings. Experts say that, as the US slows down, the Fed may be tempted to pause its rate rises after completing five interest rate hikes. It is believed that the ECB will raise key interest rates by 25bps on 15 June and again in July before pausing for the remaining months of the year.

US stocks closed higher on Thursday amid the likelihood of a stable economy. The CBOE Volatility index, described as Wall Street's fear gauge, reportedly dropped to its lowest level since the pandemic. Traders are expecting the US central bank's interest rate to stay at 5%-5.25% during its monetary policy meeting next week but see a rate hike in July. Computer expert Inc gained 2.49% after Wells Fargo gave the company an "overweight" rating, while Apple, Nvidia and Tesla rose between 1.55% and 4.58%. Meanwhile, GameStop fell 17.89% after the video-game retailer ousted its CEO and posted a losses above expectations.

So while the majority still believes that this should be the way forward, I think when the US starts probably pivoting or talking towards a rate cut in future, I think that is when, of course, inflation definitely is important, but it is going to be very difficult to envisage that the globe starts easing interest rates and India would probably wait for a more durable reduction

I think the larger banks, ICICI, Axis etc. will continue to do well. So on the large cap space, even Bharti has consolidated for a long time. It could give decent double-digit returns from here. On the midcap side focus is again on some auto ancillaries, some consumer names, but those have seen some run-ups so we need to wait for them.

I think Avenue Supermarts is a fantastic company. They have done very, very well. They have reshaped the Indian grocery retail in a big way. But always my challenge was that valuation was extremely rich and I think at that kind of valuation, the margin of error is very, very limited

Option data suggests a broader trading range in between 18450 to 18900 zones while an immediate trading range in between 18550 to 18800 zones.

Canada Pension Fund will likely sell partial stake in private lender Kotak Mahindra Bank through block deals today, according to reports.

The portion reserved for qualified institutional investors was subscribed 164 times, while the portion for non-institutional investors, or high-net-worth individuals, was subscribed 63 times. The retail portion was subscribed 14 times.

One reason investors buy the broad market is to diversify the risk of owning too few stocks. But with five of them dominating the S&P 500, some investors may be wondering if buying a broad market index is too dicey

The Bank Nifty snapped its four-day winning streak to slip below 44,000. The gauge of top banking stocks settled at 43,995.25, down 277.05 points or 0.63% from the previous close.

The Reserve Bank of India has kept interest rates unchanged for the second consecutive meeting of the Monetary Policy Committee, with the repo rate remaining at 6.5%. Governor Shaktikanta Das suggested that the real interest rate meant a cut in policy rates was possible as the interest rate cycle may have peaked. The inflation target mandate, a monetary policy objective aimed at controlling the rate of price increases, emerged in 2016 after years of price increases led to negative real interest rates and spawned financial instability.

All entities regulated by the central bank will have to ensure invocation of default guarantees within 120 days of a loan falling overdue, guidelines issued Thursday by the central bank mandated.

Prior to this, existing guidelines prescribed prudential limits for outstanding borrowing in call and notice money markets for scheduled commercial banks.

Indian stocks closed lower as the RBI's monetary policy committee kept the repo rate at 6.50%, signalling that monetary conditions will remain tight, fearing inflation staying above the central bank's 4% target this year. The Nifty 50 index fell 0.49% at 18,634.55 and the Sensex 0.47% to 62,848.64. GameStop plummeted by 16.9% after ousting its CEO. Tech shares slipped due to expectations of further interest rate hikes and more losses were seen for shares of NIIT, BEML Land Assets, and Swastik Pipe.

Addressing media after the monetary policy announcement on Thursday wherein the central bank has for the second time in a row left the key policy rates unchanged, governor Shaktikanta Das said, "The RBI is not planning to issue any separate guidelines to regulate financial market influencers since the Sebi is already doing so".

“We have received comments from stakeholders which are being evaluated. Some more work is to be done. At this point of time it will not be correct to infer that (June) 30th will be the date when it will be launched,” deputy governor M Rajeshwar Rao, who is in charge of regulations said.

The Reserve Bank of India (RBI) has implemented new regulations governing one-time settlements (OTS), simplifying instructions across all regulated entities. Under the guidelines, the RBI calls for regulated entities to establish board-approved policies to set out the procedure, precedent and a graded framework for staff accountability. The authority responsible for settling must be at least one level higher than the body responsible for sanctioning the loan, and no approval will go to an official that was part of the loan sanctioning process.

The Securities and Exchange Board of India (Sebi) will digitise processing of investors’ service requests and complaints in two phases to provide a mechanism for services and complaints through online mode by registrars to an issue and transfer agents (RTAs). The digitisation will provide benefits, including a database for service requests and complaints, according to Sebi. In the first phase, all RTAs servicing listed firms will have to display a basic website having detailed service request procedures and FAQs. In the second phase, a common website will be operated by qualified RTAs from July 1, 2022.

Saudi Arabia's decision to cut oil production by 1 million barrels per day (bpd) in July, along with the other OPEC+ countries extending their cuts until the end of 2024, confirms a demand slowdown in the global market, according to Pritam Patnaik, head of commodities at Axis Securities. Although the Saudi production cut led to a rally in Brent and WTI benchmarks, traders seemed unconvinced, likely due to a slowing global economy. Patnaik expects demand to improve in H2 2021, with China's economy making a sharper recovery in the same period.

The Dow Jones Industrial Average fell 8.04 points, or 0.02%, at the open to 33,656.98.

Hindustan Aeronautics Ltd (HAL) is considering a sub-division of equity shares to increase liquidity in the stock market, according to a filing. As of Thursday, HAL shares had hit a 52-week high after gaining 14% in the past five days. Analysts are optimistic that the strong order book and high revenue growth potential will help the stock rise further. Foreign institutional and mutual fund investors also seem to agree, as they have steadily increased their holdings for the past four quarters. Jatin Gohil, a technical and derivative research analyst at Reliance Securities, said the stock could move towards its channel breakout point of Rs 3,800 in the short to medium term.

The Fund will sell about 3.3 crore shares or a 1.6% stake in the bank at a price range of Rs 1,792-1,886. The lower end of the floor price is about a 5% discount.

The Adani Group, in a presentation shared with the Reserve Bank of India (RBI), said that it had raised fresh debt of Rs 19,235 crore in the two months following the Hindenburg report.

While it has no specific date in mind for a full-fledged launch of the CBDC, the central bank will take a measured approach, it said. The RBI also has plans to make the united payments interface (UPI) platform fully interoperable with the CBDC.

The 30-share BSE Sensex closed down 294.32 points at 62848.64

On Thursday, the benchmark Sensex cracked 295 points to close at 62,849. Despite the overall market slide, the BSE healthcare index six stocks reached new highs in the past 52 weeks.

While the Sensex closed at 62,849, down by 294 points or 0.47%, the broader Nifty50 settled at 18,635, down by 92 points or 0.49%. ​

Stocks that were in focus included names like Tata Tele, which rose nearly 15%, Paytm or One 97 Communications, which closed with gains of over 6%, and Alembic Pharma which rose more than 5% with strong volumes on Thursday.

L&T Finance Holdings has recommended a final dividend of Rs 2 per equity share for FY 2022-23 to its members, which if approved, will be credited within 30 days from the date of the annual general meeting. The record date for the dividend will be intimated later. Shares will trade ex-dividend the day or a day before the record date. The non-banking financial company reported a 47% rise in net profit for Q4 2020 when compared to the same period last year. The assets under management dropped to Rs 80,893 crore from Rs 88,341 crore in March 2020 because of a reduction in wholesale business.

In the Nifty pack, 11 stocks closed in the green, while 39 stocks ended in the red.

"Spot gold prices for the Delhi market traded at Rs 60,380/ per 10 gram, down by Rs 420 per 10 gram," Saumil Gandhi, Senior Analyst - Commodities at HDFC Securities, said.

Nifty formed a downside reversal pattern on Thursday with immediate support levels at 18,580 and 18,530 zones, establishing a broader trading range of 18,450 to 18,900 zones, according to option data. Holding above 18,666 could spur Nifty’s up move towards 18,786 and 18,888 zones. Senior technical analyst Rupak De says Nifty maintaining 18600 supports the trend staying sideways. Technical research analyst Nagaraj Shetti expects a higher bottom of the sequence in the short term, finding cluster support around 18,560-18,450 levels. Meanwhile, Jatin Gedia says the crucial support zone is placed at 18,530 – 18,500 with today's high of 18,778 – 18,800 acting as an immediate hurdle.

The NSE Nifty index closed 91.85 points down at 18634.55

Grasim Inds., Kotak Bank, Sun Pharma, Tech Mahindra and Apollo Hospital were among the top losers on NSE in today's trade.

The Reserve Bank of India (RBI) has kept interest rates on hold and maintained its stance to mitigate inflationary risks, at its latest monetary policy meeting. India's GDP growth forecast remained unchanged at 6.5%, with a marginal cut in CPI inflation from 5.2% to 5.1%. While some expected a change in the policy stance following the sharp fall in CPI inflation to 4.7% in April 2023, RBI MPC chose a wait-and-watch approach, conscious of global geopolitical uncertainty and potential El-Nino disruption to food inflation. The debt market outlook remains positive as rate easing expectations build up for the end of FY2024 locally and globally.

The Nifty Pharma index closed 1.03 per cent down at 12911.35.

India's five largest audit firms dominated the audits of Nifty500 companies in FY23, handling almost two out of every three audits. The Indian Big 5 audit firms managed 551 assignments of the 1,869 companies whose equity shares were listed on NSE, accounting for 29.48% of the total, while the top 10 audit firms accounted for 38%. Deloitte led with 19% of the market capitalisation of the companies they audited with KPMG at 17% and EY at 15%. Auditor resignations dropped from 57 in FY22 to 16 in FY23.