Share Market

The benchmark S&P 500 index has gained 16 per cent this year, pushed higher by Wall Street's obsession with artificial intelligence that has propelled mega-cap technology stocks to dizzying heights, CNN reported.

The market has turned excessively volatile responding to fast changing incoming data. DIIs have been consistent buyers on the back of good flows to domestic mutual funds. But FIIs have been consistently selling in the cash market this month with a net sell figure of Rs 7,850 crore, he added.

For the first time in the past few months we are seeing some rationality coming in amongst mid/small-caps. However, consistent inflows In mid/small-caps can protect downside in the coming months, he added.

As per a research by BOB Economics Research, Tanla Platforms is down 18.5 per cent during the month, Vedanta is down 15.8 per cent, Medplus Health Services is down 15.4 per cent.

While S&P 500 is up 17.6 per cent YTD, Nifty is up only 6.3 per cent YTD. Relatively high valuations in India are constraining a strong rally, he said.

Japanese company SoftBank’s SVF Growth Fund is the likely seller in this mega transaction, according to CNBC TV18.

According to data released by the Ministry of Statistics and Programme Implementation on Friday, in April, the IIP stood at 4.2 per cent.

In a regulatory filing, EID Parry said during the first quarter of FY24 it had logged an operational income of Rs 698.41 crore (Q1FY23 Rs 719.07 crore) and a net loss of Rs 45.77 crore (net profit of Rs 13.14 crore).

Aggressive Hybrid, Balanced Advantage, Flexicap, and Largecap Funds remain a preferred strategy for the first-time or conservative investor, it said. Global economy seems to be headed for a soft landing, but the impact of monetary tightening still warrants caution.

The Dow slipped on Thursday, snapping a 13-day winning streak. The blue-chip index fell 237 points after being on track to close higher for a 14th consecutive session. That would have marked the Dow’s longest run of consecutive gains since May 1897, CNN reported.