The market staged a strong performance in the last three consecutive sessions and helped benchmark indices post 1.4 percent gains for the week that ended on December 13.The announcement of phase one trade deal by US and China, and easing Brexit worries after the emphatic victory of Boris Johnson's conservative party in UK's general election lifted sentiment.Also, reports that ArcelorMittal started has paying money to lenders in Essar Steel case brought cheer to the markets. Nifty Auto,Bank and Metal indices gained 2-3.6 percent while the Nifty Midcap index was up 1.2 percent, but smallcaps lost 0.8 percent during the week.Close With the easing of global worries, the cooling off of volatility and the government's continuous focus on bringing economy back on track, the positive momentum is expected to continue in coming days despite weak domestic economic data points, followed by some consolidation, say experts. related news Do you think when to book out? Implied Volatility … [Read more...] about Market Week Ahead: 10 key factors that will keep traders busy
With the US imposing additional 25 percent duty on imports worth USD 34 billion from China, certain Indian products may become more competitive, the Confederation of Indian Industry (CII) said today.An analysis by the industry chamber revealed that India should focus on the US market for items in the categories of machinery, electrical equipment, vehicles and transport parts, chemicals, plastics and rubber products.“India can focus on numerous goods for expanding its exports to the US and China markets following the hike in duties by both countries on imports from each other,” CII said.Close Top exports from India to the US which are covered in the list of items for which tariffs have been hiked include pumps, parts of military aircraft, parts for electrodiagnostic apparatus, passenger vehicles of 1500-3000 cc, valve bodies and parts of taps, said the chamber. related news PM Narendra Modi arrives in Kanpur to chair first meeting of National Ganga Council … [Read more...] about US-China trade war can make Indian products competitive
In light of the depreciation of the rupee’s valuation, domestic steel manufacturers are on course to hike prices from September to offset the rising cost of imported raw materials. This increase will also bridge the gap between the price of steel in domestic and international markets. On an average, the price of Indian steel is 5-8 percent less than what it is abroad. Consequently, domestic manufacturers may also lose their pricing advantage while exporting.Logistics costs at steelmakers have risen on account of the higher cost of importing raw materials such as coking coal and other fuels. Jayant Acharya, director of commercial and marketing at JSW Steel told the Economic Times that his firm would start raising prices over the next couple of months. The hike will be reflected in long-term and quarterly contracts with the automobile sector that will be effective from October.On a year-on-year basis, the price of stoking coal, a key component in the manufacture of steel, has … [Read more...] about Domestic steel manufacturers to raise prices over increased input costs
New data from Jumio, the leading AI-powered trusted identity as a service provider, reveals that new account fraud increased 27.8 percent worldwide YTD in 2019, compared to full-year 2018 results, and more than 100 percent compared to 2014 levels.Surprisingly, attempted new account fraud was 19 percent less during the Black Friday/Cyber Monday weekend (compared to the average 2019 fraud levels), when fraud attempts normally escalate.In the third edition of Jumio’s Holiday New Account Fraud Report, fraud is defined as an attempt by an individual to create a new online account by manipulating a government-issued ID.Close The company compared global ID fraud patterns from millions of ID verification transactions between 2014 and 2019 across various industries, focusing on the period between Black Friday and Cyber Monday, including Thanksgiving and the Tuesday after Cyber Monday. Jumio also analyzed new account fraud levels across regions, countries, industries and time period. … [Read more...] about Global New Account Fraud Increased 28% in 2019: Report
Bharat Bond ETF, the initiative of the Department of Investment and Public Asset Management (DIPAM) of the government, was launched on December 12.The government had announced plans for debt ETFs in Budget 2019. The ETF has a duration of 3 years maturing in 2023 with a yield return of 6.69 percent and another duration of 7 years maturing in 2030 with a yield return of 7.58 percent. Both will be listed on NSE and BSE.Stressing on the appeal factor of 3-year and 7-year duration, Deepak Jasani Head Retail Research, HDFC Securities said, "Returns of this 3-year variant could be compared to Banking and PSU debt funds that have an average maturity of 2-4 years and a similar portfolio holding. Longer duration variant (10-years) would naturally bear high duration risk and can be considered by informed investors who want to take high duration bets."Close This ETF is managed by Edelweiss Mutual Fund. So the fund is called Edelweiss BHARAT Bond ETF, and the fund will invest in the bonds … [Read more...] about Mutual funds wrap: Bharat Bond ETF NFO open until December 20; Will retail investors bite?