Domestic gold prices recovered on Friday gaining by over Rs 500 per 10 gram in intraday trade, taking cues from international prices. The prices were up ahead of the crucial inflation data in the US which could give more clarity on the timing of the interest rate cuts by the Federal Reserve.
Jayesh Mehta, Vice-Chairman & CEO of DSP Finance, explained the recent fall in the rupee against the dollar, attributing it to a risk-off situation and the strengthening of the dollar. Despite the current scenario, he mentioned that the rupee might not sustain at the 84 level for long-term due to India's strong economic story.
The popularity of index funds in India has surged in recent years, as evidenced by the significant increase in the number of funds offered by MF houses. Between March 2021 and March 2024, the total number of index funds available to investors grew by an impressive 370%, from 44 to 207. This growth reflects the growing appetite and confidence that investors have in index funds.
Mutual fund investors were shocked when Sebi raided Quant Mutual Fund's offices for alleged front-running. The raid impacted various funds' performance, with some underperforming their benchmarks, while others like Quant Focused Fund outperformed. Despite this, the fund house's assets under management hit all-time highs, reflecting an increase in their total AUM and growth in several key funds.
Sanstar Stock Update: Sanstar shares climbed 19% on debut but underperformed expectations, prompting expert advice for profit booking due to elevated valuations.
Ashok Leyland, led by CEO Shenu Agarwal, expressed strong potential in its subsidiaries like Hinduja Leyland Finance, Hinduja Housing Finance, and Hinduja Technologies. Despite election impacts, Q1 volumes hit record highs. Prospects look promising for FY25. Agarwal also says that a lot of positive momentum is building and he expect sQ2 also will be good.
