Bharat Salokhe, Director, Akshay Profit & Wealth Pvt. Ltd.
The market is currently reeling in a state of vibrancy with no reason to go down and no excuse to bounce up. Nifty and Sensex rose less than 5 percent last week. Bank Nifty gained one percent. Such confused mood took a toll on Friday and the market tumbled more than one percent. A delay in interest rate cuts by the Federal Reserve and the prospect of a renewed conflict between Iran and Israel that could result in higher crude oil prices added strength to the bears.
Industrial production in the world's three major economies, namely the US, China and Germany, increased and thus the demand for metals increased. So much so, that the Nifty metal index rose by 17 percent in the last one month. Currently the price of metal index is 8951.30. 9054.95 is its all-time high. This boom in metals was reflected in the shares of the following companies.
As industrial production in the above-mentioned countries increases, demand for metals shares will increase. A number of FIIS have increased their holdings in Vedanta.
One of the most brilliant events in the history of the Indian stock market took place this week and that was the BSE's Sensex, an index of 30 leading companies, crossed the 75000 mark. (75124.28) The total market capitalization of all the combined registered companies of BSE is Rs. 400 lakh crores has gone beyond. In the last nine months alone, Rs. 100 lakh crores has been recorded by the Indian market. The increase in share prices has been attributed to increased number of IPOs in the past year, increased participation of investors (investment and general) by FIIS.
IT (Confederation of Indian Industry) is an organization made up of private, government and multinational industry companies in India. TVS Supply Chain Solutions Chairman R. Dinesh is its president. He recently expressed confidence that India's CDP growth rate will remain at 8 to 9 percent in the coming years and will be in double digits after 2029. Government expenditure on infrastructure development will increase. Moreover, he expressed the opinion that private investment will increase.
TCS announced its fourth quarter and alternatively annual financial results on Friday. They are slightly better than market estimates. 12434 crores with a 9 percent increase in net profit.
61237 crores with a 3.5 percent increase in income.
If we look at the last few months, we are experiencing simultaneous rise in Nifty and Sensex, rise in gold-silver, rise in dollar and rise in Bitcoin. Gold price per 10 grams is Rs. 1 lakh will be. Before that, the price of 1 kg of silver was Rs. There is a rumor in the market that it will go to 1 lakh.
Now finally there is an ETF-Exchange Traded Fund index in the US market. Its name is NYSE FANGT Index. The index is made up of the top 10 percent of companies trading in the US market with the highest turnover. Those ten companies are as follows –
Meta, Apple, Amazon, Netflix, Microsoft, Google, Tesla, Nvidia, Snowflake, Broadcom. Considering this index ratio, Mirai Asset launched one and a half on May 6, 2021. Mirae Asset NYSE FANGt ETF Siddharth Srivastava is its fund manager. The fund has returned 101.57 percent in the last one year. This article does not constitute our recommendation to invest or not to invest in this fund. This mention is for the investors to consult all the available sources.
