loader

Impavid Bulletin

expert-views

Firstly, US bond yields have likely reached their peak, and other countries have also paused their rate hike plans, indicating an elevated probability of the rate hike regime peaking out.

​But it was known for a really long time. I think I first wrote about in 2017 when a large number of promoter entities of the Essel Group, the promoter group of Zee had taken on loans from a lot of mutual funds through bonds.

The Indian market's valuation has corrected from a PE of 24-25 to 20-21 times earnings. The market is currently hitting an all-time closing high as valuations have corrected and party typically starts after a PE of 22-23, making the equity party not overheated in any significant way. Although Patanjali Foods promotes a homegrown FMCG brand with extensive distribution, it still needs to prove its worth in the market. However, its relatively positive corporate governance front makes it more attractive.

Manhattan Venture Partner's head of research, Santosh Rao, believes that the primary crisis facing the market is the issue of inflation, and whether or not the Fed will decide to raise interest rates. While the banking crisis continues to be a concern, Rao states that there is enough liquidity and tools to manage it. Following JP Morgan's purchase of First Republic Bank, Rao suggests that the crisis in the banking sector has been contained, pending no other major issues.

The Nifty50 index is expected to consolidate or experience a turn lower this week, but downside momentum would need to conquer 17885 for it to materialize, according to Anand James, Chief Market Strategist at Geojit Financial Services. The favoured view is that there are prospects for the continuation of the uptrend with a focus on 18600, but the expert also warns of a fair potential for consolidation, once in the 18110-18300 band.

Baroda BNP Paribas Mutual Fund has said the recent tax amendments by the government on debt mutual funds could shift investor interest temporarily towards PMS and alternative investment funds. In an interview, Prashant Pimple, chief investment officer - fixed income at the asset management company, however, said that passive funds may see muted flows. Despite this, it is believed open-ended mutual fund schemes such as short-term income fund, corporate bond or gilt funds could see flows from investors.

ICICI Prudential AMC's Head of PMS and AIF Investments, Anand Shah, believes that sectors such as manufacturing, manufacturing allied, telecoms, and real estate are currently offering opportunities.According to Shah these companies have held their own during challenging macroeconomic times, and FY24 is looking positive for them. ICICI Prudential Alternate Investments predominantly invests in equities- with an inherent level of risks for sophisticated investors

Manoj Giri, a Bengaluru-based trader, says that while options selling gives a high chance of winning, the low returns compared to any risk taken eventually led him to the cash segment. He believes the risk-to-reward ratio in cash markets is more favourable as "it gives better flexibility to deploy any amount of cash, buy, sell and manage risks and positions."

Shoonya, the zero broking platform, has compensated customers with Rs 3 crore ($402,000) following a technical glitch which occurred on April 13th. The error, which affected traders between 9.15am and 9.30am, left hundreds out of pocket. The glitch impacted a specific set of customers, with only first trades in that window being affected by incorrect trade values. In all, 77.5% of disputes were eligible for compensation and 77% of those eligible have been resolved, Shoonya co-founders Sarvjeet Virk and Tajinder Virk said.