Jain in his long career saw Indian economy opening up, the coming of age of IT industry, commodities boom, bust and boom again; the coming of age of e-mail, mobile, internet, modern retail and ecommerce, renewable power and EVs, the rise of social media, the decline of traditional media, the rise of China, Covid - lockdown, negative interest rates and ESG as a theme, to name a few.

The jury is still out, but Jain, he said, cannot resist his two bits to add to the confusion on these issues.Jain said the debate over active and passive funds has gained traction in recent times with the growing range and market share of passives.The debate, he said, is somewhat counterproductive.

Developed economies began sourcing from China at competitive rates. China emerged as the manufacturing hub for the developed world. India supplied cheap labor through BPO/KPO and IT services, while Ukraine and Russia addressed global energy needs

The best time to sell a stock is just before it starts going down but is it really as simple as this? I’m sure your answer must be a big NO! Why? Because it is difficult to time the turning points and selling a stock is more a function of educated estimation than a decision based on a formula-driven process.

The Nifty Pharma index closed 0.1 per cent down at 12580.45.

“We expect Indian banks to build on the momentum of strong economic growth as well as resolution of legacy loans to improve their asset quality further. In fact, we have been projecting that the NPLs plus performing restructured loans put together should be below 5% by March 2024 and they could go below 3.5% by March 2025.”

The Nifty Bank index closed 0.09 per cent up at 38987.15.

The 30-share Sensex advanced 59.15 points to end at 58,833.87. Its broader peer, Nifty50, ended the session comfortably above the 17,500 mark.