It was a mixed trading week for the Indian markets as mid-cap and small-cap stocks saw some buying along with some sectors experiencing some gains. However, broader benchmark indices and large-cap stocks did see some selling pressure, as Nifty50 and Sensex ended the week marginally lower.
2 factors weighed in on the market selloff – inflation fears have started kicking in as June forecasts for inflation suggest that inflation will be above RBI’s target range for the 2nd straight month with prices of food and fuels rising. Moreover, global rating agency, Fitch Ratings, cut India’s growth forecast from 12.8% to 10% amid slow recovery post the second wave of Covid-19.
Anyway, before moving further ahead with some market updates, here’s a quote for the week…
The stock market is a device for transferring money from the impatient to the patient. Click To Tweet
“The stock market is a device for transferring money from the impatient to the patient.”
15 banks in India, including but not limited to SBI, ICICI, HDFC Bank, Kotak, Axis, etc have come together to form a company and have invested ₹5 crores each to implement the applications of blockchain in Indian banking systems.
This project is expected to use a blockchain-based platform that is developed by Infosys, called the Finacle Connect and this platform helps in the digitisation and automation of trade-related finance processes. Okay, so why should you care? Click below to find out! 👇
Our first smallcase manager, Windmill Capital, has introduced 3 new smallcases. The new smallcases are designed to track and help people invest in prominent Indian business groups/conglomerates.
The House of Tata smallcase helps investors invest in the Tata Group’s companies – an internationally reputed business conglomerate. Similarly, The House of Bajaj smallcase helps people invest in the listed entities of the Bajaj group – a company with its footprint in diversified sectors. Finally, the House of HDFC smallcase helps investors get exposure to companies part of HDFC group, a large conglomerate with businesses in the financial services sector.
Read more about this, here.
That’s all for this week – take care, and happy investing! 🙂
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