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On Thursday Tesla stock reached an all-time high, briefly trading at $507.76 per share. Tesla’s stock has been on a tear since the S&P Dow Jones Indices announced this week that it will include the carmaker to the benchmark index prior to trading on Monday, Dec. 21. Money managers with funds that track the S&P 500 will need to buy the stock for their portfolios.
Read moreTesla surges back to record high today ahead of joining the S&P 500
One banking stock could be about to break out. “JPMorgan is a brand that does everything well,” Boris Schlossberg, managing director of FX strategy at BK Asset Management, said yesterday. The stock is the “Apple” of banking, he said.
Read moreThis banking stock is the ‘Apple’ of the financials
Indian lenders had brought down dodgy loans from 11.6% in FY18 to just 8.5% of their book in FY20. It seems that was just a number on the sand, and all it took was a wave of the pandemic to wipe off this minor victory.
Read moreRBI’s stress test shows banks are on thin ice as virus may affect capital
The Ministry of Finance today amended the General Financial Rules 2017 to enable imposition of restrictions on bidders from countries which share a land border with India on grounds of defence of India, or matters that directly or indirectly relate to the national security of the country, said and official release.
Read moreGovt imposes curbs on public procurement from certain countries bordering India
Domestic benchmark indices despite ending this week’s last trading session in the red gained half a percent during the course of the week with volatility coming back to haunt investors. With this, Sensex and the 50-stock Nifty are now up over 41% from their March lows. In the coming week, markets are expected to react to June quarter results of listed companies, global stock markets and not to forget the AGM of Reliance Industries. Analysts are still betting on stock-specific actions to steer the market with domestic factors not posing any grave threat in the coming weeks.
Commodity markets face very rocky terrain over the second half after their trial by pandemic in the opening six months. With the third quarter starting next week, What to Watch runs the slide rule over a clutch of the major raw materials — including oil, copper, iron ore and gold — to assess pitfalls and prospects. The mixed picture suggests being selective is key.
Read moreGold is the stand-out winner this year so far. What to watch in commodities
The confidence of many investors got jolted when over Rs 30,000 core of their money invested in trusted debt funds of reputed mutual fund (MF) company Franklin Templeton got stuck indefinitely after the world’s leading fund house on April 23, 2020 announced that it will close six of its debt mutual funds schemes. As such funds are less riskier than the equity funds, people often park their short-term money and even emergency funds in debt MF.
Read moreFranklin Templeton Debt Fund Freeze: Ray of hope for investors to get back their money