Dev'S Invest Notes - Blogosphere !!!

Good Morning! China’s April auto sales grew 4.4% from a year earlier to 2.07 million units, overcoming an early-year collapse due to the coronavirus shutdown and ending a 21-month streak of declines in the world’s largest auto market. That's not the only piece of good news showing how markets are rebounding from the virus disruption. Similar news are coming in from Italy and other beaten down European economies about rapid post-lockdown recovery in demand for cars and washing machines and pickup in Airbnb bookings, Disneyland sellouts etc, which suggest economic forces are coming back full throttle once people have come out of the lockdown. India being a consumer-driven economy, that story should emerge more prominently, say analysts. MARKET CUES: Where we stand  >>> Nifty futures on the Singapore Exchange-traded some 77 points down at 7 am (IST) in signs that the market may encounter weakness on Dalal Street. On Monday Nifty formed a bearish candl

Good Morning! Global fund giant Invesco did something extraordinary last week, and there may be a lesson or two to learn for the Indian mutual fund industry. The Atlanta-headquartered firm had failed to rebalance an S&P 500 equal-weight passive fund in April, a mistake that cost investors $105 million. So, the fund house compensated investors for the omission. When investment managers charge fees for managing money, they must be obliged to recompense investors for their lapses and inefficiencies. Maybe, they should be made to forfeit fund management fees when a fund closure or side pocketing happens or made to return entire investor money when schemes below a certain risk grade go belly up. MARKET CUES: Where we stand  .. Nifty futures on the Singapore Exchange-traded 124 points higher at 7 am (IST) in signs that the market may attempt a rebound on Dalal Street. Nifty tech charts signalled a negative bias on Friday as it fell below its 13-d

MORNING NEWSLETTER.!! Good Morning! India’s mutual fund industry presented two contrasting images this week: one in which some leaders blamed Sebi rules and lack of reforms for the Templeton fiasco, and another in which one industry leader took a long hard look inward to find that the industry “has stopped respecting valuations” and is busy chasing ‘stories’. In an industry where investors are being made to live with the abrupt closure of schemes, side pocketing of securities and things like that, the latter kind of self-assessment holds out hope that the mutual fund Sahi hai slogan will not die a premature death. MARKET CUES: Where we stand. Nifty futures on the Singapore Exchange-traded 103 points higher at 7 am (IST) in signs that the market may attempt a rebound on Dalal Street On Thursday, Nifty slipped below the 9,200 level and formed an Inside Bar on the daily chart, signalling indecisiveness among investors. The index has been making lower highs for