 "BSE NSE, Bull market, Indian share market")
Nifty hits a speed hump: Will it surge ahead or stumble?
The benchmark National Stock Exchange Nifty posted its second straight weekly gain, rising by 0.75 per cent after a 3.4 per cent jump in the preceding week. The 50-share index closed at 23,466. Technical analysts believe the market could consolidate further as 23,500 remains a key resistance level. “The confidence has resumed, thanks to political stability. However, the focus has shifted to specific stocks. In the coming week, Nifty’s initial hurdle will be around 23,500. Once surpassed, Nifty could rally towards 23,900–24,000.On the downside, key supports are at 23,300, followed by the 23,000–22,900 zones. Any dips in support should be viewed as a buying opportunity,” said Ruchit Jain, lead researcher at 5paisa.com.
MF industry on tax tightrope: Balancing act or potential plunge?
The mutual fund (MF) industry is concerned that the upcoming Union Budget may bring another tax blow. Industry executives indicate that, after addressing the tax disparity between debt funds and bank fixed deposits, the government is now considering arbitrage funds. Currently, these funds receive the same tax treatment as equity funds. Given their low risks and predictable returns, arbitrage funds have emerged as an alternative for short-term investments, especially after the tax advantages of debt funds diminished. One fund house has postponed the launch of an arbitrage fund due to potential tax changes. These rule adjustments will impact not only arbitrage funds but also other hybrid funds using derivatives to manage net equity exposure, aiming for 65 per cent gross equity exposure to qualify for equity taxation.
Stock market’s new blood: Furniture to flights and beyond
Next week, grey market premiums (GMPs) are expected to range between 8 per cent and 25 per cent. Shares of piping solutions company DEE Development Engineers and vehicle financer Akme Fintrade were observed trading with a GMP of 25 per cent each, while the GMP for luxury furniture brand Stanley Lifestyles was around 8 per cent. Together, these three initial public offerings (IPOs) will raise less than Rs 1,100 crore. In addition, shares of Le Travenues Technology, which operates the online travel portal ixigo, are projected to rise by 30 per cent during their trading debut on Tuesday. The company’s IPO garnered demand 98x higher than the shares offered.
Next week, grey market premiums (GMPs) are expected to range between 8 per cent and 25 per cent. Shares of piping solutions company DEE Development Engineers and vehicle financer Akme Fintrade were observed trading with a GMP of 25 per cent each, while the GMP for luxury furniture brand Stanley Lifestyles was around 8 per cent. Together, these three initial public offerings (IPOs) will raise less than Rs 1,100 crore. In addition, shares of Le Travenues Technology, which operates the online travel portal ixigo, are projected to rise by 30 per cent during their trading debut on Tuesday. The company’s IPO garnered demand 98x higher than the shares offered.
