Weekly Market Report From 20th to 24th Mar 2023
Caution prevails; Global cues in focus this week Volatility was high last week on subdued global market sentiments as fears of contagion in the global banking sector weighed. Cautiousness also prevailed after the government hiked securities transaction tax (STT) on futures & options contracts. Globally, the US Fed increased the rate as was widely expected by 25 bps to 4.75-5 pct. The...
Market Morning Notes For 27th March 2023
Nifty last week tried to defend support of 16800 and managed to restrain weekly losses to less than 1%. Such capitulation was possibly mainly on the back of a rebound from S&P Dollex 30 i.e., Sensex in USD terms which was able to firmly hold the neckline of the inverted Head & Shoulders pattern which was bullishly activated in the month of Nov 2022. This breakout failed to carry...
Will Taxing High-Value Insurance Benefit Debt Mutual Funds?
Life insurance has always been a preferred investment option for all people due to the financial security it offers to a family after the demise of the policyholder. It also becomes ideal for people with a conservative risk profile. In the budget 2023, it was announced that high-value insurance purchases would henceforth be taxed with effect from 1st April 2023. This newly introduced...
Market Morning Notes For 24th March 2023
Markets ended lower after a failed attempt to surpass 17,156 in Nifty, mainly on the back of selling in financial stocks. The sharp drop in USDINR led the Dollex 30 index i.e. Sensex in USD terms to end on a flat note, thus implying overall strength in the market. With India VIX on the verge of triggering a major breakdown below 14.30, we expect Indian markets to gain momentum on the cross...
Market Morning Notes For 23rd March 2023
Market activity remained laggard on Wednesday ahead of the crucial Fed meet and merging of settlement which led to Nifty inching marginally higher but failing to cross 17156. The Fed raised key rates by another 25 bps, however, the commentary suggested some additional policy firming. However, it is the comment from Treasury Secy Yellen that spooked the markets- she says not considering a...
Market Morning Notes For 22nd March 2023
Markets managed to end at the highest point of the day after an initial gap-up opening on Tuesday but failed to cross the crucial hurdle of 17156 in Nifty Index. The high of the bullish hammer appearing on Monday’s trading session was taken out on a closing basis, thus putting more firepower for bulls to trade higher for the next few days and more leg of buying is likely to emerge once Nifty...
8 things to do before the new financial year 2023
As the new financial year approaches, you may have already started planning your investments to achieve your financial goals. But before we dive into the new financial year 2023-24, it is necessary to complete certain tasks before 31st March 2023 to ensure maximum savings and a good start to the new fiscal year. Taking care of these important things will enable you to save on taxes and...
Are Target Maturity Funds An Alternative To Bank FDs?
Fixed deposits are one of the oldest investment options that are considered safe, assured, and stable. Currently, on account of the rising inflation, the central bank of India has increased the repo rate quite a few times. As on 8th February 2023, the repo rate was escalated to 6.50%. While this has increased the burden of loan holders, it improved the interest rates received by bank fixed...
Weekly Market Report From 13th to 17th Mar 2023
Markets fall on global cues; US Fed meeting in focus in the coming week. Benchmark indices witnessed a sharp sell-off during the week and the Nifty slipped below the 17,000 level for the first time in over five months, taking cues from weak global markets. The turmoil in the US banking space with the failure of Silicon Valley Bank (SVB) and the closure of New York-based Signature Bank...