Indian Express Update

According to an expert, mutual fund advice is likely to limit the performance of the whole market

<p>According to V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the far better-than-expected Q3 GDP figures, which came in at 8.4% year over year, were the main driver of the Nifty’s big 350-point rise on Friday.</p>
<p><img decoding=”async” class=”alignnone wp-image-472551″ src=”×500.jpg” alt=”” width=”979″ height=”654″ srcset=”×500.jpg 750w,×683.jpg 1024w,×512.jpg 768w, 1200w” sizes=”(max-width: 979px) 100vw, 979px” /></p>
<p>This scorching statistic, which indicates robust economic momentum, prompted short covering, which in turn caused the Nifty to spike up 350 points. Even while the GDP figures are impressive, it’s critical to recognize that there is a statistical abnormality. In Q3, the GVA is a mere 6.5%. The significant disparity may be attributed to the 32% increase in indirect taxes. It’s also critical to keep in mind that the consumption figures are low. In short, he said that although there is cause for confidence, there is also no justification for unchecked bullishness.</p>
<p>The guidance issued by SEBI to mutual funds about the inflated prices of mid- and small-cap schemes is probably going to limit the overall market’s performance. He said, “There is no fundamental justification for the irrational exuberance in the broader segment.”</p>
<p>The BSE Sensex is down 13.54 points, trading at 73,792.61 points. Powergrid is up 2% while NTPC is up 3% in trade.</p>
<p> </p>

Related posts

August saw a drop in food prices that causes retail inflation to drop to 6.83%

With 20% listing gains, ESAF Small Finance Bank makes its stock market debut. Should you buy, sell, or hold?

India’s foreign exchange reserves increased by $1.8 billion to $595 billion in the last forex update

Tesla is considering purchasing $1.9 billion in components from India, according to Goyal

S&P projects strong GDP growth in India in 2024–2026, reaching 6-7.1%

The gaming industry is becoming a popular career choice, according to the HP India Gaming Landscape Study 2023. Key findings