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Recently, the National Stock Exchange (<keyword id="20004725" type="General" weightage="100" keywordseo="NSE" source="keywords">NSE</keyword>) announced that its total <keyword id="21953893" type="General" weightage="20" keywordseo="client-accounts" source="keywords">client accounts</keyword> exceeded 20 crore, a remarkable growth from the 16.9 crore figure it was at just eight months ago. The achievement underscores India's rapidly evolving investment landscape and growing <keyword id="20031464" type="General" weightage="20" keywordseo="retail-participation" source="keywords">retail participation</keyword> in <keyword id="20033427" type="General" weightage="20" keywordseo="capital-markets" source="keywords">capital markets</keyword>. "This expansion reflects strong investor confidence in India's growth story," said Sriram Krishnan, Chief Business Development Officer at NSE. He attributed this growth to the widespread adoption of mobile trading applications and increasing <keyword id="22504349" type="General" weightage="20" keywordseo="investor-awareness" source="keywords">investor awareness</keyword>, aptly supported by government <keyword id="20327350" type="General" weightage="20" keywordseo="digital-initiatives" source="keywords">digital initiatives</keyword> that have democratized market access, particularly benefiting investors from Tier 2, 3, and 4 cities. While Maharashtra led the list with 3.6 crore accounts, UP was next with 2.2 crore accounts, followed by Gujarat with 1.8 crore accounts. Rajasthan and West Bengal also made it to the list with 1.2 crore accounts each. Notably, these five states collectively account for approximately 50% of total client accounts, while the top ten states represent about three-quarters of the total registrations. Additionally, the unique registered investor base on NSE stood at 10.5 crore, having crossed the 10-crore mark on August 8, 2024. <h2><keyword id="20849031" type="General" weightage="20" keywordseo="young-investors" source="keywords">Young investors</keyword> take the lead</h2>Another notable trend that emerged from NSE's latest report is the significant increase in young investor participation. The proportion of investors under 30 years has nearly doubled, rising from 22.9% in March 2018 to 40% by September 2024. Middle-aged investors, aged between 30 and 39, have maintained their participation in the markets, albeit with a slight hit. On the other hand, investors aged between 40 and 49 have witnessed a dip in market participation, dipping to 15.5% in September 2024, as opposed to 20.3% as of March 2018. Similar downtrends were noticed in other age brackets as well, namely 50-59 and 60+ age cohorts. Financial analysts suggest that younger investors bring a new dynamic to the market, often favoring high-growth, technology-driven investments. In contrast, older investors have traditionally leaned toward more stable and conservative options.

NSE client base surges past 20 crore mark; young investors lead market growth

The <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> climbed up by as much as 1,400 points during the day, to close at 84544.31. Nifty wasn't far behind, inching up over 1% during the day to close at 25790.95. What is driving this rally? And this is not just the secondary market. The primary market, i.e. IPO subscriptions are also witnessing a stellar surge in investor interest. The IPOs of Northern Arc Capital and Arkade Developers, which closed yesterday, were oversubscribed 117 times and 113 times, respectively, largely on the back of significant investments made via the QIB and NII categories. But the question is, what is driving this frenzy, which comes on the heels of the Fed's recent announcement slashing interest rates by a significant 50 basis points? Experts explain that the most direct impact of the rate cut comes in the form of higher <keyword id="20078820" type="General" weightage="20" keywordseo="foreign-capital-inflows" source="keywords">foreign capital inflows</keyword> into emerging markets like India. The impending anticipation of this is what is driving the rally witnessed in the stock market today. As per data from NSDL’s FPI monitor, foreign investors infused a net total of Rs 2,341.64 crore in Indian equity markets via stock exchanges, as of September 19th, 2024. Data shows that September has seen inflows of around Rs 27,862 crores in first half of September. This is around 4 times the flows seen during the entire month of August. Just within this week (till September 19), FPI inflows have touched Rs 5,419 crores. Palka Arora Chopra. Director, <keyword id="23251477" type="General" weightage="20" keywordseo="Master-Capital-Services" source="keywords">Master Capital Services</keyword> Ltd explains that the current upswing in the stock market results from market forecasts of increased foreign inflows into India following the Fed rate decrease. “This, combined with the fact that US jobless claims are at their lowest since May 2024, have alleviated concerns about the US labor market failing, rather, it is simply slowing down. This is also why the Dow Jones Industrial Averages and S&amp;P 500 index surged to 1.7%, and Asia saw a rise in markets across Korea, Japan, and Hong Kong”, she continued. Riding on the tide of higher foreign inflows is the strengthening of Indian Rupee. Already, the rupee has regained strength from a high of 84.0 to 83.7 over the last week, and this trend may continue in the near term. Santosh Meena, Head of Research, Swastika Investmart Ltd notes that historically, emerging markets tend to outperform during the onset of a rate-cut cycle in the U.S. “Indian markets, backed by robust fundamentals, remain resilient despite concerns over valuations. Large-cap stocks, particularly in the private banking sector, continue to look attractive, fueling the current bullish momentum. This positive trend is expected to persist unless significant negative developments arise on the domestic or global front”, he highlights. Mr. Pradeep Gupta, Co-founder &amp; Vice-chairman, Anand Rathi Group notes that this rate cut comes with some short-term benefits for the country, which means stronger rupee and potential capital inflows. "A stronger rupee would make imports cheaper, potentially improving India’s trade balance. However, these advantages may be temporary if the US economy continues to weaken. The Reserve Bank of India (RBI) may follow the Fed’s lead but not immediately. Improved global sentiment could drive a rally in <keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>, as emerging economies like India become more attractive to investors", notes Gupta. But note that in the longer term, the direction of the Indian stock market will depend largely on global economic conditions, and particularly the health of the US economy. If the US achieves a “soft landing”, as is targeted by Fed, and avoids a recession, Indian equities may experience gradual growth. However, if the global outlook deteriorates, Indian markets—especially mid and small-cap segments, could come face to face with increased volatility and market downturns. <h2>What should your investment strategy be?</h2>SEBI registered Investment Advisor Gaurav Goel advises having a thorough look at your portfolio whenever the equity markets hit a fresh high. Look, it is practically impossible to time the markets. But, as a smart investor, markets hitting a fresh high is a good time to rebalance your portfolio, so that you can cushion your funds from any significant downturn that will invariably stem from any market downturns thereafter "When equities hit all time highs, there is a natural tendency of equity component of your asset allocation to breach the prescribed asset allocation. In such a situation, on should reassess the asset allocation and shave off excess percentages from the equity allocation to revert to the mean". Goel also suggests hedging a portion of your portfolio by buying naked long dated put options on benchmark index like Nifty 50. This way, you'd be able to benefit from a decrease in the prices of underlying assets, without having to own it. But most importantly, "At these crests, its important to shuffle your portfolio. Remove the crap, low-value stocks that might have made their in your portfolio during bullish phase, and replace with high quality stocks. Shift your assets more toward the large cap stocks/index funds where the volatility would be less or towards sector/market caps, which are less expensive on valuations", Goel continued. As for traders looking to make the most of the ongoing upward trajectory of the market, Osho Krishan, Senior Analyst, Technical &amp; Derivatives, Angel One, advises "capitalizing on the upward momentum by taking profits, rather than adopting an aggressive stance in the overbought territory". "From a technical perspective, we have entered a phase where the market is overbought, as indicated by various metrics. Therefore, it is crucial to avoid complacency and instead adopt a practical and realistic approach to the current situation", he continued. Anirudh Garg- Founder and Fund Manager at Invasset PMS explains that "When markets hit an all-time high, investors need to reassess their strategies to navigate potential risks while still capitalizing on opportunities. However, it’s essential to understand that not every market high signals overvaluation. There’s a key difference between markets reaching record levels and being fundamentally expensive. Identifying this distinction helps avoid premature decisions based solely on market peaks". "In particular, when mid-cap and small-cap stocks exhibit stretched valuations, investors should shift their focus to high-quality companies. These are firms with robust balance sheets, consistent earnings growth, and strong competitive advantages, often found in sectors linked to steady inflation", says Garg. Naturally, quality stocks tend to be more resilient in volatile environments, offering stability and better protection against downside risk. Also, don't forget to keep an eye out for the risk-reward ratio, which becomes critical during expensive markets. This involves diversifying portfolios, avoiding overexposure to overheated sectors, and focusing on capital preservation while seeking reasonable returns. Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

Indian markets surging to all time highs today: What's happening post Fed decision?

With the <keyword id="20034955" type="General" weightage="20" keywordseo="earnings-season" source="keywords">earnings season</keyword> drawing to a close, stock markets will take cues from <keyword id="20837523" type="General" weightage="20" keywordseo="global-trends" source="keywords">global trends</keyword> and <keyword id="58959" type="General" weightage="20" keywordseo="foreign-investors" source="Orion">foreign investors</keyword>' <keyword id="3165079" type="General" weightage="20" keywordseo="trading-activity" source="Orion">trading activity</keyword> this week, analysts said. The US FOMC (Federal Open Market Committee) minutes will be the major highlight this week, experts said. "This week, there are fewer cues on the macro and micro fronts, as the Q1 earnings season has concluded. However, important global <keyword id="20030592" type="General" weightage="20" keywordseo="economic-data" source="keywords">economic data</keyword>, such as Japan's inflation numbers and the minutes from the US FOMC meeting, will be closely watched. The uncertain geopolitical situation remains the primary near-term risk for the market," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Traders will also closely monitor institutional flows and crude oil price movement, he added. Easing fears of a recession in the US triggered a global market rally on Friday. "Positive US economic data like cooling inflation and robust retail sales numbers shrugged off recession fears while talks of a rate cut by the US Fed as early as next month fuelled a mega rally across global equities, including India," Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd, said. The 30-share BSE benchmark jumped 1,330.96 points or 1.68 per cent to settle at 80,436.84 on Friday, marking its best single-day gain in more than two months. The NSE Nifty surged 397.40 points or 1.65 per cent to close at a two-week high of 24,541.15. "The outlook for the market will be guided by the FOMC meeting minutes, US existing home sales and new home sales data," Palka Arora Chopra, Director, Master Capital Services Ltd, said. Last week, the BSE benchmark jumped 730.93 points or 0.91 per cent, the Nifty climbed 173.65 points or 0.71 per cent. Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd, said, all eyes this week will be on US Fed meeting minutes. "Overall we expect the market to consolidate in a broader range and take cues from global factors," Khemka added.

Stock markets to take cues from global trends, FII trading activity in coming week: Analysts

Kolkata, <keyword id="259611" type="General" weightage="20" keywordseo="mirae-asset-mutual-fund" source="Orion">Mirae Asset Mutual Fund</keyword> on Thursday said it remains optimistic about a <keyword id="18167645" type="General" weightage="20" keywordseo="stable-capital-market-outlook" source="Orion">stable capital market outlook</keyword>, aided by <keyword id="18167646" type="General" weightage="20" keywordseo="improved-macroeconomic-conditions" source="Orion">improved macroeconomic conditions</keyword>. Ankit Jain, the fund manager at <keyword id="6418883" type="General" weightage="50" keywordseo="mirae-asset-amc" source="Orion">Mirae Asset AMC</keyword>, said the 25-basis point rate hike by the <keyword id="6355253" type="General" weightage="50" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword> was in line with expectations. According to him, inflationary pressures are easing globally, and supply and demand imbalances are being rectified. Jain emphasised that "India's healthy GDP growth projections contribute to the stability of the capital <keyword id="35196" type="General" weightage="20" keywordseo="market-outlook" source="Orion">market outlook</keyword>". He also expected that corporate earnings will rise, particularly in sectors that have already shown significant improvement. Jain expressed bullish sentiment towards sectors such as banking, pharma &amp; healthcare, consumer discretionary and manufacturing. Speaking about Mirae Asset Mutual Fund, which has an asset under management worth Rs 1.38 lakh crore, Jain said it has registered a compound annual growth rate of 40 per cent in the last few years. He expressed optimism about continued expansion due to the untapped potential of the mutual fund industry in the country. Despite the mutual fund industry's total assets under management standing at Rs 40 lakh crore, the "number of unit folios is currently only 3.5 crore, whereas there are over 8 crore taxpayers and 60 crore PAN card holders", he said. Speaking at the launch of the new Mirae Asset Multicap Fund, Jain described its investment strategy, stating that it will allocate 25 per cent each to large, mid and small-cap companies. He believes that this "balanced approach will enable investors to capitalise on long-term opportunities in high-growth small and mid-cap sectors". The NFO (New Fund Offer) of the assent management company is scheduled to open for subscription on July 28 and will close on August 11.

Mirae Asset MF sees market outlook 'stable', launches multi-cap fund

Mumbai (Maharashtra) [India], June 21 (ANI): The broader market saw gains across all indices, including <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> Midcap, Nifty Small Cap, and Nifty 100. However, sectoral indices on the National Stock Exchange such as Nifty Bank, Nifty Auto, Nifty Financial Services, Nifty FMCG, Nifty Private Bank, and Nifty Realty registered losses. "In the US, markets had a soft close after seven days of gains, with some selling in Big Tech stocks. However, the overall momentum remains positive. Next week's Lok Sabha Speaker election and the Union Budget expectations will be the key drivers for the <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>," said Ajay Bagga, Banking and Market Expert. He further added, "In anticipation of these, we could see a run up in the traditional beneficiaries of the public capex initiatives like capital goods, infrastructure, banks. Defence and railways stocks have already run up a lot and have been seeing some profit taking in recent days." According to NSDL data, during the initial two weeks of June, Foreign Institutional Investors (FIIs) sold stocks across various sectors, including oil &amp; gas, construction, IT, metals &amp; mining, consumer durables, auto, and FMCG. "Currently, the market is in a consolidation phase without significant triggers for aggressive buying or selling. Despite this, the underlying sentiment remains bullish, prompting investors to view dips as buying opportunities, thereby bolstering market resilience. However, sharp upward movements may trigger profit-taking, potentially limiting sustained rallies," said Varun Aggarwal, MD, Profit Idea. In Asian markets, Japan's Nikkei 225 rose 0.16 per cent, while South Korea's Kospi declined by 0.78 per cent on Friday. The broader Asia Dow was marginally higher by 0.015 per cent, contrasting with Hong Kong's Hang Seng, which fell 0.52 per cent, and China's Shanghai Composite, down 0.04 per cent.

Nifty records new high, Sensex gains 200 points in early trading

The <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> announced the decision of the newly formed six-member MPC (<keyword id="19913109" type="General" weightage="20" keywordseo="Monetary-Policy-Committee" source="keywords">Monetary Policy Committee</keyword>) today, following the conclusion of the three-day meeting, which began on October 7, 2024. Treading along expected lines, RBI rate-setting panel left the repo rate unchanged at 6.5% for the 10th consecutive time, in its 51st meeting today. The decision was made by a majority, with 5 out of 6 members voting for leaving the rate unchanged. This is the fourth bi-monthly monetary policy review for FY25, and the first since three external members were appointed to the panel earlier this month. The tenure of the previous three members had come to an end on October 4, 2024. While the outgoing members include Ashima Goyal (emeritus professor, Indira Gandhi Institute of Development Research), Shashanka Bhide (honorary senior advisor, National Council of Applied Economic Research); and Jayanth R. Varma(professor, Indian Institute of Management, Ahmedabad), the income members are Ram Singh (Director, Delhi School of Economics), Saugata Bhattacharya, an economist; and Nagesh Kumar (Director and chief executive, Institute for Studies in Industrial Development). <h2>Wait and Watch </h2>RBI also changed its policy stance to neutral, while remaining committed to growth and bringing down inflation to its target of 4%. This means that at present, the bank is not inclined to either increase or decrease the interest rates, but will take a call depending on macroeconomic conditions and prevailing factors. "Taking all these factors into consideration, the real GDP growth for 2024-25 is projected at 7.2%, with Q2 at 7%, Q3 at 7.4% and Q4 at 7.4%", he said. As for inflation, Das highlighted that headline inflation had softened significantly in July and August and even food inflation experienced a certain degree of correction during these two months. Keeping this in mind, CPI inflation for 2024-25 i.e. current year is projected at 4.5%, with Q2 at 4.1%, Q3 at 4.8% and Q4 at 4.2%. CPI for first quarter of next financial year i.e. 2025-26 is estimated at 4.3%. "It's with a lot of effort that inflation horse has been brought to the stable, i.e. closer to the target and within the tolerance span, compared to its place or heightened levels two years ago. We have to be very careful about opening the gate, as the horse may simply hold again. We must keep the horse in tight leash, so that we do not lose control", Das added. Most economists had anticipated a change in the central bank's current policy stance of 'withdrawal of accommodation'. This policy stand indicates that any interest rate cuts are presently off the table. However, given the ongoing geopolitical crisis and Fed's jumbo rate cut by 50-basis points last month, RBI may bring about a cut in interest rates, sooner than later. However, since food inflation remains high at 5.42% as of July 2024, experts had also estimated that now might not have been a good time for RBI to bring down interest rates. Moreover, PMI (purchase managers index) indices, which help in gauging the health of manufacturing and service sectors in the country, presently stand at a multi-month low, and even the core sector output is witnessing a contraction after 42 straight months. As Suman Chowdhury, Executive Director &amp; Chief Economist, Acuité Ratings &amp; Research had highlighted, the current circumstances are not really conducive for RBI to opt for any affirmation action towards an easier monetary policy. "While the fear of the inflation “elephant” may have subsided with the CPI headline print well within 4.0% over the last two months and a favorable monsoon, the concerns around the stability of food inflation still linger among policy makers. The RBI may wait till December 2024 or February 2025 to make a rat cut, he continued. <h2>Housing sector rejoices</h2>From the point of view of homebuyers, the relatively affordable home loan interest rate regime will continue at a critical time for the Indian housing market - the festive season - amid rising housing prices and tapered sales. Q3 2024 saw average housing prices rise by a cumulative 23% in the top 7 cities even as average prices in these markets collectively rose to approximately Rs 8,390 per sq. ft. by Q3 2024-end, from Rs 6,800 per sq. ft. in Q3 2023. "The unchanged home loan rates are much-needed demand support in the ongoing festive quarter. We are expecting faster sales momentum in Q4 2024 when compared to the preceding quarter. This year's festive quarter may see similar demand to that seen in this period a year ago, if not higher. Over 1.27 lakh units were sold across the top 7 cities back in Q4 2023. Unchanged interest rates will play and important role in achieving and maintaining this momentum", says Anuj Puri, Chairman - ANAROCK Group

RBIs MPC meet concludes today: Repo rate left unchanged at 6.5%

In response to higher-than-expected tax revenue and a record surplus transfer from the Reserve Bank of India (RBI), the Indian government is considering an 8-10% increase in <keyword id="20018917" type="General" weightage="20" keywordseo="capital-expenditure" source="keywords">capital expenditure</keyword> (capex) for the fiscal year 2025, according to Pantomath Group's quarterly report, "Market Kaleidoscope: Quarterly Market Insights." This adjustment could raise the capex from the previously allocated Rs 11.11 lakh crore, aiming to bolster infrastructure and economic growth. This fiscal boost comes as India reaches a historic financial milestone. The total market capitalization of all stocks listed on the Bombay Stock Exchange (<keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword>) briefly surpassed $5 trillion for the first time, placing India among global giants such as the US, China, Japan, and Hong Kong. India's primary market is set for a dynamic period, with 55 companies planning to raise over Rs 68,000 crore through Initial Public Offerings (IPOs). The first half of FY2025 has already seen 35 mainboard IPOs, collectively raising around Rs 32,000 crore with an average subscription rate of 61 times. The Indian market maintained a positive outlook in the first quarter of FY2025, driven by strong Q4FY24 earnings, favorable economic data, and positive global cues. Despite early June volatility following the 2024 <keyword id="19895394" type="General" weightage="20" keywordseo="lok-sabha" source="keywords">Lok Sabha</keyword> election results, market sentiment improved with the BJP securing 272 seats and a total of 292 seats for the NDA with allied support. This political stability under Prime Minister Narendra Modi's leadership is expected to promote long-term economic growth, with a focus on infrastructure, electric mobility, startup support, power distribution, digital privacy, and healthcare initiatives. Corporate India's performance in the March quarter of FY2024 met expectations, showing double-digit growth in net profit and single-digit revenue increases. Non-lending companies experienced moderate operating margin expansion due to favorable commodity prices and cost controls. The peaking interest rates and continuity of <keyword id="19978691" type="General" weightage="20" keywordseo="government-policies" source="keywords">government policies</keyword> are anticipated to support healthy corporate growth in FY2025. <h2>Growth to continue</h2>The government's push for increased <keyword id="20068449" type="General" weightage="20" keywordseo="ethanol-production" source="keywords">ethanol production</keyword> targets a 20% blending by 2026, benefiting ethanol-heavy sugar companies and promoting biofuel goals. The real estate market is projected to grow significantly, requiring Rs 14 lakh crore in debt financing from 2024 to 2026. This growth will positively impact the banking and financial sectors. Major telecom operators have raised tariffs post-election, potentially improving sector financials and paving the way for sector re-rating. Major cement players are expanding through acquisitions, with an expected 6-7% compounded growth and market dominance by the top five players by March 2025. FMCG Companies expect recovery in rural business due to factors like a normal monsoon, robust crop yields, and government measures, maintaining robust rural demand. The potential roll-out of the FAME 3 Scheme to support <keyword id="19963112" type="General" weightage="20" keywordseo="electric-vehicle-sales" source="keywords">electric vehicle sales</keyword> is anticipated, with a budgetary allocation of around Rs 10,000 crore. Sectors such as auto, cement, defence, railways, consumer durables, energy, and banking are expected to outperform. Lagging sectors like IT and specialty chemicals offer value-buying opportunities at lower levels. The structural bull market for Indian equity is supported by strong domestic fundamentals and government reforms, with a positive medium- to long-term market outlook. Globally, the US market showed resilience, except for the Dow Jones. The Federal Reserve maintained interest rates at 5.25-5.50%, awaiting inflation to move towards the 2% target before considering rate cuts. The US GDP grew at 1.4% annually in Q1 2024, with mixed economic indicators highlighting both strengths and challenges. The Indian <keyword id="19926041" type="General" weightage="20" keywordseo="IPO-market" source="keywords">IPO market</keyword> has seen significant growth, with a surge in companies seeking to list shares and a rise in capital raised. The first half of 2025 saw strong retail investor participation, reflecting confidence in India's growth prospects. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Private Limited, said, "Favourable market conditions, high liquidity, a conducive growth environment with stable interest rates, and benign inflation have facilitated a boom in the IPO market. The IPO market will experience a stronger pull post-budget. India is set to become the new equity funding frontier for global corporations." He further added. "We are on the brink of sustained, long-term momentum in the IPO market, with this year potentially becoming the best for IPOs. India's solid macroeconomic environment and promising growth prospects create an ideal backdrop for this vibrant IPO market. Additionally, there is robust participation from both domestic institutional investors and retail investors." With the Indian government's potential capex increase and the robust primary market activity, the <keyword id="19948184" type="General" weightage="100" keywordseo="Indian-economy" source="keywords">Indian economy</keyword> is poised for sustained growth. The upcoming period is expected to see heightened market activity, further IPOs, and economic stability, creating a conducive environment for investment and development.

India may boost FY25 capex by 8-10% amid surging revenues and record RBI surplus, says Market Kaleidoscope report

<ul class="summary-list"><li>Cathie Wood's Ark Venture Fund allows retail investors to invest in high-growth startups.</li><li>The fund's net assets have climbed to $69 million, roughly tripling year over year.</li></ul><a target="_blank" href="https://www.businessinsider.com/cathie-wood-profile-ark-invest-etf-rise-success-following-tesla-2021-2">Cathie Wood</a> attracted billions of dollars with her fresh approach to betting on tech stocks, combining bold calls on the future with the ability for investors to buy and sell in an instant.Wood's effort to do something similar for venture capital has delivered investments in many of Silicon Valley's hottest deals. Though its investors will have to wait much longer before they see any returns.Wood's firm Ark Invest debuted a new closed-end interval fund in 2022, allowing investors to throw as little as $500 into a vehicle that invests in private startups. Investors can buy and sell shares in the fund just as they do with stocks, with some restrictions."Our goal here is to provide the best venture portfolio in the world to everyone in the world, not just to the rich and the famous," said Brett Winton, who works closely with Wood as chief futurist at Ark Invest and is an architect of the firm's venture capital strategy.The fund, Ark Venture Fund, has now gathered close to $70 million in assets, some distance from venture giants like Sequoia and Andreessen Horowitz, or even Ark's other funds. ARKK, Wood's most famous fund, has $5.8 billion in assets, down from a peak of $50 billion.Despite its small size, the fund has clinched deals to invest in <a target="_blank" href="https://www.businessinsider.com/openai-bets-big-on-humanoid-robots-with-figure-ai-2024-2">Figure</a>, a Jeff Bezos-backed startup developing humanoid robots, <a target="_blank" href="https://www.businessinsider.com/elon-musk-xai-hiring-spree-ai-tutors-2024-10">xAI</a>, an artificial-intelligence firm founded by Elon Musk, and OpenAI, the maker of ChatGPT.<div type="image" title="Elon Musk SpaceX" height="2034" width="2712" msid="115254561" hostid="261" sizebytes="675642"></div>It raises the question of why aging startups SpaceX, Epic Games, and Databricks, which have raised billions in funding, bother to include Ark in new rounds. SpaceX is Ark Venture Fund's largest holding, accounting for 13% of the fund's total assets, worth around $9 million.Winton said it's a subject he's frequently addressed in early meetings with founders.First, Ark produces reams of <a target="_blank" href="https://www.ark-funds.com/articles">original research</a> on areas of investment. Winton said this research helps the firm win over teams because it demonstrates a grasp of their breakthrough technologies. "It means we can engage in really constructive conversations with them about their strategy," Winton said.Second, because Ark invests in both the private and public markets, it offers relationships with potential customers across the size spectrum of enterprises.Lastly, unlike a traditional venture fund, which has a fixed lifespan to invest the capital and return the profits to the fund's investors, Ark set up its venture fund to continue indefinitely, allowing investors to enter and exit the fund on a periodic basis.This provides flexibility to hold shares of companies after they go public, which can be particularly attractive for founders who are looking for investors with a long-term outlook and a higher tolerance for market volatility.In October, Ark invested at least $250 million into OpenAI's latest round, which pushed the AI startup's valuation to $157 billion.Most of that investment came from a related private venture fund that's only for high-net-worth investors. OpenAI makes up just 5% of the Ark Venture Fund's portfolio, which means it has less than $4 million invested."We would prefer to be able to write larger checks out of the venture fund than we currently can," Winton said.For that to happen, the fund will need to attract more investors.Though the fund is up 36% since its inception date, it's down 3% year to date, according to the website. The S&amp;P 500 in comparison is up 26% this year, with surging tech stocks and <a target="_blank" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11?_gl=1*nfthw5*_ga*MTQ0NjYxMDEzMC4xNzIyMzAwMzYy*_ga_E21CV80ZCZ*MTczMTM0MjA0MC4yNDUuMS4xNzMxMzQyMDY4LjMyLjAuMA..">Donald Trump's election win</a> driving record highs.Ark Venture Fund charges a flat fee for investing assets under its control, the same as a venture fund. The fee, 2.75%, is high relative to other interval funds, according to Morningstar, but it doesn't take carried interest or a share of profits.Winton said the fund could accrue assets into the billions of dollars; on a follow-up call, he walked back his comment, saying it's hard to know how big the fund could get."If that happens, then that'll actually become the story of Ark," he said. "Ark kind of changed venture capital."

Ark's Cathie Wood changed Wall Street. Now, she's set her sights on venture capital.

The <keyword id="19949639" type="General" weightage="100" keywordseo="rupee" source="keywords">rupee</keyword> stayed on the upward track for the second straight session and appreciated 6 paise to 83.37 against the US <keyword id="19904292" type="General" weightage="20" keywordseo="dollar" source="keywords">dollar</keyword> in early trade on Wednesday, boosted by sustained inflow of <keyword id="20480744" type="General" weightage="20" keywordseo="foreign-capital" source="keywords">foreign capital</keyword> and firm <keyword id="19949641" type="General" weightage="20" keywordseo="equity-markets" source="keywords">equity markets</keyword>. The local unit, however, faced resistance due to a stronger American currency and higher <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> overseas, <keyword id="19950258" type="General" weightage="20" keywordseo="forex" source="keywords">forex</keyword> traders said. At the <keyword id="20520118" type="General" weightage="20" keywordseo="interbank-foreign-exchange-market" source="keywords">interbank foreign exchange market</keyword>, the local unit opened strong at 83.39 and gained further to 83.34 against the greenback in initial deals. It later traded at 83.37 against the American currency, registering a rise of 6 paise from its previous close. On Tuesday, the rupee had settled 12 paise higher at 83.43 against the US dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading marginally higher by 0.02 per cent at 104.90. Analysts said the dollar index fell initially as the US data showed the growth in retail sales was lower than expected, though the currency recovered with May industrial output numbers topping the forecast. Officials of the US Federal Reserve indicated a hawkish stance to continue, dousing hopes of an interest rate cut until December. "The dollar eased against the euro on Tuesday after US retail sales data showed slower growth, suggesting potential Federal Reserve rate cuts later this year," said Anand James, Chief Market Strategist, Geojit Financial Services. Brent crude futures, the global oil benchmark, rose 0.02 per cent to USD 85.35 per barrel. In the domestic equity markets, the 30-share BSE Sensex rose 199.63 points, or 0.26 per cent, to 77,500.77 points. The broader NSE Nifty climbed 25.55 points, or 0.11 per cent, to 23,583.45 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 2,569.40 crore, according to exchange data. Analysts attributed the strong FII buying to the firm domestic macroeconomic outlook and a sharp fall in the US treasury yield. The government data showed the net direct tax collection grew 21 per cent to over Rs 4.62 lakh crore so far this fiscal on higher advance tax payments by corporates, reflecting robust economic activity. Fitch Ratings on Tuesday raised India's growth forecast for the current fiscal to 7.2 per cent, from 7 per cent projected in March, citing a recovery in consumer spending and increased investment.

Rupee moves upward for second straight session, rises 6 paise to 83.37 against US dollar in early trade

The rupee fell 7 paise to trade at 84.47 against the US dollar in early trade on Thursday weighed down by a muted trend in domestic equities and strength of the American currency in the overseas markets. <keyword id="20024982" type="General" weightage="20" keywordseo="Forex-traders" source="keywords">Forex traders</keyword> said the latest <keyword id="20064878" type="General" weightage="20" keywordseo="Federal-Open-Market-Committee" source="keywords">Federal Open Market Committee</keyword> (FOMC) minutes reveal a significant shift in the Federal Reserve's outlook. The Fed is likely to put downward pressure on short-term interest rates, reducing the appeal of dollar-denominated assets and contributing to the decline in the Dollar Index. At the interbank foreign exchange, the rupee opened at 84.45 and moved in a tight range and touched 84.47 against the greenback, registering a fall of 7 paise over its previous close. On Wednesday, the rupee depreciated by 11 paise to close at 84.40 against the US dollar. "The 84.50 level remains a strong support for the USD/INR pair. <keyword id="23456490" type="General" weightage="20" keywordseo="RBI-interventions" source="keywords">RBI interventions</keyword>, coupled with anticipated capital inflows -- such as Godrej Properties' Rs 4,000 crore QIP and Univest's USD 16 million capital raise -- are expected to support the rupee further," CR Forex Advisors MD Amit Pabari said. Pabari further added that the USD/INR pair is likely to encounter resistance near the 84.50 mark, with expectations of trading within the 83.80 to 84.50 range, showing a slight downward bias. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading higher by 0.14 per cent at 106.22. Brent crude, the global oil benchmark, fell 0.18 per cent to USD 72.70 per barrel in futures trade. In the domestic equity market, the 30-share BSE Sensex rose 68.21 points or 0.09 per cent to 80,302.29 in morning trade, while Nifty was up 34.20 points or 0.14 per cent to 24,309.10 points. Foreign Institutional Investors (FIIs) infused Rs 7.78 crore in the capital markets on a net basis on Wednesday, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self"></a> <a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms" target="_self">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a><a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms" target="_blank">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms" target="_blank">Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</a>

Rupee falls 7 paise to 84.47 against US dollar in early trade

The IPO (initial public offer) of food and grocery delivery behemoth Swiggy is set to open tomorrow and conclude on November 8, 2024. The entire issue is worth Rs 11,327.43 crore and has a fresh issue component of Rs 4,499 crore and an OFS (offer for sale) of about Rs 6,828.43 crore. With a price band of Rs 371-390, retail investors will be required to invest a minimum of Rs 14,820 to get their hands on Swiggy's shares. Swiggy, which will tentatively list on the bourses on November 13, 2024, is seeking to raise Rs 1,952.43 crore more than its rival <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, which went public in July 2021 and was looking to raise Rs 9,375 crore. Zomato's offer was oversubscribed around 38.25 times, with retail investors subscribing 7.45x to the issue. Notably, only around 15% of Swiggy's total issue will be made available to retail investors. Moreover, Swiggy's IPO is not garnering the same buzz if its present GMP (<keyword id="938640" type="General" weightage="20" keywordseo="grey-market-premium" source="Orion">grey market premium</keyword>) trends are to be believed. The company's last traded GMP was Rs 7, taking its estimated listing price to Rs 397 (upper end of its price band, i.e., Rs 390 + Rs 7), and its potential listing gains per share at a minimal 1.79%. Last week, Swiggy's GMP was at Rs 25, before tumbling to Rs 18, and then momentarily stabilizing at Rs 22 before its steep fall to present levels of Rs 7. <h2>Strengths and weaknesses</h2> Since its inception in 2014, Swiggy's bottom line has been in red, unlike that of its rival Zomato, which turned profitable in the first quarter of FY24. In FY22, its total income was Rs. 6119.78 crore with a net loss of Rs. 3628.90 crore. While the company's total income increased to Rs. 8714.45 crore in FY23, it also spelled a corresponding rise in its net losses, which surged to Rs. 4179.31 crore. The trend varied a little in FY24 when Swiggy's total income rose to Rs 11,634.35 crore while its net loss reduced to Rs. 2,350.24 crore. However, in the first quarter of FY25, ending June 30, 2024, the company's total income stood at Rs 3,310.11 crore and a net loss of Rs. 611.01 crore. While Swiggy did achieve 42.4% revenue growth between FY2022-223, most of its revenue is sourced from the top 50 of the 500 Indian cities it is currently operational in. Even in this regard, Zomato, which operates in around 1,000 cities across India, has an edge. <h2>Some say invest, some say avoid</h2> Some experts are advising against subscribing to this IPO. Per SAMCO Securities, "As of FY 2024, Swiggy Limited continues to operate at a loss, in contrast to its competitor, Zomato Limited, which has recently achieved profitability. Given Swiggy’s current financial position, competitive pressures, associated risks, and valuation, its IPO appears overvalued. Therefore, investors should avoid this IPO until the company’s financial performance and growth outlook improve. Waiting until Swiggy demonstrates improved financial results and a clearer path to sustainable growth would be a more prudent investment approach. Per Bajaj Broking's IPO note, Swiggy's IPO can be subscribed to from a long-term perspective. However, it also highlights that Swiggy's offer document is missing PAT (profit after tax) and RoCE (returns on capital employed) data. "For the last three fiscals, the company has reported an average EPS of Rs - (14.90) and an average RoNW of - (35.39%). The issue is priced at a P/BV of 11.60 based on its NAV of Rs. 33.61 as of June 30, 2024, and is at a P/BV of 7.31 based on its post-IPO NAV of Rs. 53.36 per share (at upper cap). If we attribute annualized FY25 earnings to a post-IPO fully diluted equity base, then the asking price is at a negative P/E, and based on FY24 earnings also, it is at a negative P/E, as the company has posted losses for those periods. On other parameters, the issue appears aggressively priced," it further adds. Gaurav Garg, research analyst at Lemonn Markets Desk, notes that it might take some time for Swiggy to reach Zomato's level, both in terms of valuation and AOV (average order value). Swiggy's valuation has been pegged at about Rs 95,000 crore, at the upper price band, while Zomato has a market valuation of Rs 2.13 lakh crore. "Almost 50% valuation compared to Zomato gives some comfort, although it should not be considered an arbitrage in valuation. If Swiggy’s EBITDA catches up to 3-4% in the food delivery business, which is currently at 1%, and Average Order Value (AOV) improves to Rs. 550-600 levels in quick commerce with a higher non-grocery share, we can see bridging in the valuation gap. However, this should not be expected in the near term," he adds.

Swiggy's IPO set to open tomorrow. Should you subscribe?

<keyword id="22215344" type="General" weightage="20" keywordseo="German-businesses" source="keywords">German businesses</keyword> see <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> as a very "stable place" to <keyword id="19954634" type="General" weightage="20" keywordseo="invest" source="keywords">invest</keyword>, said the country's Ambassador <keyword id="20424857" type="General" weightage="20" keywordseo="philipp-ackermann" source="keywords">Philipp Ackermann</keyword> on Friday, while anticipating increased German <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> in India after the India-EU Free <keyword id="19900989" type="General" weightage="20" keywordseo="trade" source="keywords">Trade</keyword> Agreement resolves tax and tariff "impediments". In an interview with ANI, Ackermann also informed about the possible visit of German Chancellor Olaf Scholz in October this year, during which <keyword id="20766370" type="General" weightage="20" keywordseo="business-relations" source="keywords">business relations</keyword> and trade relations would be on the agenda. Ackerman noted that migration will also be a key item for discussion. Speaking on the sidelines of the release of the German India Business Outlook 2024 survey, Ackerman said, "The survey has given us an impression that <keyword id="22215345" type="General" weightage="100" keywordseo="german-business-in-india" source="Orion">German business in India</keyword> is extremely bullish on India. The surveys found that almost 80% of German businesses want to expand their businesses, want to reinvest, build up more factories, and invest more in India." "The German businesses see enormous potential in the Indian market. It sees the very impressive growth rates of India. That makes them very happy. After elections again, they find it a very stable place to invest," the ambassador expressed. Philipp Ackermann termed the long-pending India-EU Free Trade Agreement a "game changer". He mentioned that no specific deadline has been set for signing the Free Trade Agreement, stating that "it will take some time." "There is no deadline because the <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> relationship is very complicated and it has to take time. We have now seen the ninth round, if I'm not mistaken, which just finished a day or two ago. We are in the process of negotiating the German government is very much behind this," he said "We feel that the FTA is very important for our business; it will be even more so if it is a game changer. So I'm very hopeful that at some stage we come to a conclusion, but don't ask me about the timeline. I think it will take some time," he added. When asked what impact the FTA will have on the Indo-German trade relationship, the envoy said that tariffs and taxes are one of the reasons German companies say might impede investment, and with an FTA, the tariff side will be solved. "For many German companies, an FTA will bring a clear solution and regulation on tariffs and trade and it would be a great gift for their business," he added. The proposed trade deal with the EU is one of the most complex FTAs being negotiated by India. There has been no breakthrough despite several rounds of talks. On June 17, 2022, the European Union relaunched negotiations with India for a Free Trade Agreement, and launched separate negotiations for an Investment Protection Agreement and an Agreement on Geographical Indications (GIs). The mandator also gave details about the possible visit of German chancellor Olaf Scholz, saying the chancellor will travel to Delhi and parts of his cabinet, including the German ministers, will accompany him and sit down with their Indian counterparts to develop coming programmes and projects and the roadmap. "So we expect that to happen in the second half of October sometime. The dates have not been finalised yet. But it is a very, very good moment to sit down, compare notes, and say, Where is this apprenticeship going?" he added. "We will try to develop the future of this partnership during these consultations. Other items on the agenda are certainly business relations and trade relations, but also migration, which is a very interesting issue within and certainly does politics as usual," he said.

German businesses see India as a stable place to invest, says German ambassador Philipp Ackermann

<ul class="summary-list"><li>Inflation has come down from pandemic highs, but one economist isn't expecting a return to 2%.</li><li>Rate cuts and other changes in the economy point to 3%+ long-term inflation, says Steven Blitz.</li></ul>For the last decade or so, the Federal Reserve's magic number for inflation has been 2%.The central bank has been aiming to keep the long-run inflation rate at this level to maintain stable prices and a healthy economy.And after the runaway prices of the pandemic era, it seems like the Fed is drawing closer to its 2% goal: the inflation rate was 2.4% for the 12-month period ending in September.However, don't count on a return to the 2% era, said Steven Blitz, chief economist at business intelligence firm GlobalData. Blitz believes the economy is on track for higher, not lower, long-term inflation."I think inflation is going to settle around 3%, 3.5%," Blitz told Business Insider in an interview. "There is now a higher base inflation rate than there was before COVID for a number of reasons."The Fed's rate-cutting campaign is certainly a contributing factor to higher future inflation, in Blitz's opinion. In the past, runaway inflation has only returned to 2% after the Fed engineered a hard landing that slowed consumer spending and wage growth, Blitz said. Financial historian <a target="_blank" href="https://www.businessinsider.com/inflation-fed-powell-mistake-1970s-runaway-stagflation-unemployment-interest-rates-2024-10">Mark Higgins</a> points out that when the Fed cut rates too quickly in the 1960s, inflation spiked and contributed to stagflation in the 1970s.But there are other factors contributing to an increased long-term inflation rate, many of which Blitz tracked even before the pandemic.Debt levels are creeping up, generating an inflationary effect by increasing demand and prices for goods. In terms of consumer and business debt, after the Great Financial Crisis, households and businesses focused on deleveraging their balance sheets, but this trend started reversing after the passage of the Tax Cuts and Jobs Act in 2018, Blitz said. Reduced taxes incentivized spending and also increased the national debt. A higher national debt balance can erode confidence in the dollar, further increasing inflation.Changing demographics in the workplace are also driving increasing debt and higher long-term inflation, according to Blitz.The workforce is getting younger as Gen Z employees enter the market and baby boomers and Gen X employees retire, resulting in growing spending power from Gen Z.As millennials age and gain more income, they're entering their prime homebuying years."They're in that part of their life where they normally leverage their balance sheets to take in physical assets," Blitz said. And as more millennials start families and have children, their expenditures will only continue to increase. These demographic changes will stoke consumer demand and, subsequently, inflation.And lastly, inflation is creeping up thanks to changes in international trade, Blitz said. Import penetration, or the amount of foreign goods flowing into the US, is reaching a plateau. Importing cheap goods from overseas has a disinflationary effect by decreasing prices paid by consumers.Blitz believes import penetration in the US is near or has already reached peak levels, meaning that the deflationary impacts of international trade will be muted in the future. With trends such as nearshoring and reshoring driving companies to move their operations closer to domestic markets, import penetration could certainly decline.In Blitz's perspective, all of these factors add up to an inflation rate exceeding 2% going forward.<h2 id="42586d83-d9bb-4112-b404-1a3b9311f18b">Investing for higher inflation</h2>Investors could start seeing persistent inflation take hold within the next year, according to Blitz. The September jobs report is already one early sign of sticky inflation, especially wage inflation, in his opinion.There are a few ways that investors can prepare their portfolios.In a high-interest-rate environment, bonds are less attractive, Blitz said. Bonds suffer from inflation risk because inflation eats into interest rate payments, reducing their real yield. Higher inflation also pushes up yields as investors demand higher compensation, reducing the value of the assets.Instead, look towards the stock market, he said. While increased inflation might hurt the stock market overall, there are some pockets of equities that will benefit. Technology and value stocks typically perform well in the wake of higher inflation, according to Blitz.In a high-inflation environment, companies look to put their capital into more durable investments as the dollar depreciates. Blitz believes the chip industry in particular is an inflation-resilient choice because they supply assets critical to many supply chains.High inflation can be a boon to value stocks because it boosts businesses' margins."In a lower inflation environment, it's harder to grow revenue off of the nominal growth of the economy," Blitz said. That results in outperformance from growth stocks, which investors anticipate will increase profits at a substantially higher pace relative to the rest of the market.In a 3% to 3.5% inflation environment, there's more opportunity for overlooked value stocks to appreciate. High-quality value stocks with stable margins will actually receive a lift from rising prices, especially if they have good cost management, Blitz said.Those looking to increase their exposure to these areas of the stock market can do so through funds such as the iShares Semiconductor ETF (<a target="_blank" href="https://markets.businessinsider.com/etfs/ishares-semiconductor-etf-us4642875235?miRedirects=1">SOXX</a>) and the Vanguard Value Index Fund ETF (<a target="_blank" href="https://markets.businessinsider.com/etfs/vanguard-value-index-fund-etf-shares-us9229087443?miRedirects=1">VTV</a>).

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