Expiry in stock market

US benchmark index S&P 500 closed its worst first half of a year since 1970 with a drop of 20.6 percent. The Nasdaq Composite finished the first half down 29.5 percent and notched its worst first-half performance on record. The MSCI global stock index was down 20.9 percent for the first half of 2022, its biggest first-half of a year percentage drop on record. Back home, markets are also grinding lower. The Nifty ended the month of June 5 percent lower and 9.4 percent lower for the quarter as FPIs continue to be sellers on almost all days. The Nifty has ended the third consecutive expiry in the red where it ended June series with the losses of 2.41 percent. The Nifty witnessed sharp sell off from the start of the June series and touched the low of 15183 level but towards the end Nifty recovered by almost 700 points. Most of the fall in the Nifty is contributed by metals, pharma and realty sectors which have fallen the most in June series. Bank Nifty, after its … [Read more...] about June Expiry Review | Markets set for a bounce from highly oversold levels

Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × We had a soft opening of the weekly trading session on July 25 on the back of sluggish global cues. With some tiny swings on both sides, the index eventually settled around opening levels on the same day. This was followed by yet another weak session and in the process, Nifty sneaked below the key level of 16,500. Fortunately, the table turned completely on Wednesday as we witnessed a strong buying emerging at lower levels to reclaim some important levels ahead of the Fed policy as well as monthly expiry. The Fed chairman didn't disappoint this time by delivering the expected outcome of 75 bps rate hike and to add cherry on top, the commentary was very much on the dovish side. This development lifted the overall sentiments on the expiry session as we not only witnessed a gap up opening but also … [Read more...] about Hot Stocks | Here’s why you should bet on NALCO, Finolex Cables for short term

(Representative image: Reuters) Trade Watchlist Portfolio Message Set Alert live bse live nse live Volume Todays L/H More × Cab aggregator Uber on August 3 offloaded its entire 7.78 percent stake in Zomato , marking its exit from the Indian food delivery giant. The company sold a total of 61,21,99,100 shares for Rs 50.44 a piece via a block deal, as per the data shared by BSE. The same amount of shares were held by Uber in Zomato as of June 30, 2022, according to the shareholding pattern shared with stock exchanges. The bulk of the offloaded shares were picked up by Fidelity Investment Trust Fidelity Series Emerging Markets Opportunities Fund, which bought 5.44 crore out of them for Rs 50.26 a piece, the stock exchange data showed. ICICI Prudential Life Insurance bought 4.5 crore shares at a price of Rs 50.25 a piece, it added. Close The block deal … [Read more...] about Uber exits Zomato, sells entire 7.78% stake

(Representative Image) Earlier this month, HDFC Mutual Fund, the country’s third largest fund house, announced the merger of six of its fixed maturity plans (FMP) into HDFC Corporate Bond fund. Elsewhere, and also in March, Aditya Birla Sun Life Mutual Fund announced the merger of 17 of its own FMPs into its low duration Fund and a target maturity fund. Last year, Kotak Mutual Fund too merged a FMP into a corporate bond fund. Before discussing the pros and cons of such a move, let’s understand why this is happening. Fixed Maturity Plans are close-ended funds and on maturity, the proceeds are supposed to be returned to the investor . Unlike open-ended funds that have no expiry date, FMPs have an expiry date after which the investor gets the money back. In open-ended funds, the investor can redeem as and when required. The issue with FMPs is liquidity. There is no redemption with the asset management company (AMC). For the sake of regulation, FMPs are listed on the stock … [Read more...] about When mutual funds merge fixed maturity plans with debt funds, what should investors do?