FOMO, or Fear of Missing Out, is often the main reason why investors get desperate to buy stocks at the first sign of turnaround of a slumping market. That, even when bull runs are rarely a steep curve. The stocks rally that followed the corporate tax cut had left many feeling left out; but things have evened out quickly thereafter. This suggests it might work out better if one deploys money over time instead of going all at once.
STREET PULSE: Where we stand Asian stocks fell the most in a week on Wednesday as the US and China's ever-expanding dispute over trade and foreign policy showed little sign of coming to an end, weighing on global economic growth.
Read More  | SGX Nifty traded nearly 30 points higher at 7 am (IST), signalling positivity on Dalal Street. MSCI index for Asia-Pacific shares outside Japan was down 0.3%. Japan's Nikkei .N225 slid 0.81%. Australian shares were down 0.92%. |
| US market sold off hard as US-China trade concerns remained squarely in focus, sending Dow and other key indices sharply below a key technical gauge. The Nasdaq plunged 1.7%, the S&P 500 dived 1.6% and the Dow shed 1.2% |
Oil prices slipped for a third consecutive session on Wednesday as the prospect of a US-China trade deal dimmed. Brent crude futures fell 27 cents to $57.97 a barrel, while WTI crude dipped 25 cents to $52.38.
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Big IBC Push… The government is actively considering introducing a short, time-bound, online financial bidding process in corporate insolvency cases to improve transparency and reduce litigation, a senior official said. Currently, creditors of a company undergoing insolvency proceedings are free to negotiate with potential bidders individually, which has led to offers being revised, bids coming in after the deadline and associated litigation, prolonging the process. The Centre aims to quicken resolution proceedings by setting a time limit for financial bids.
Read More Festive Sales Boom… Indian e-tailers sold a record $3 billion (Rs 19,000 crore) worth of merchandise in six days of festive sales between September 29 and October 4, 2019, registering a 30 per cent year-on-year growth. A significant chunk of this came from tier-2 cities. This surge came despite challenging macro conditions, said RedSeer, a consulting firm focused on internet businesses in India and Asia. The biggest theme for the festive season was 'value shopping' as indicated by a large portion of customers who hailed from smaller cities.
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Bleak Earnings Outlook… September quarter could be one of the worst quarters for corporate earnings in recent years if leading brokerages' estimates projections are anything to go by. Gains from the corporate tax cut last month are likely to be offset by lower sales volume and revenue contraction in key sectors such as automobiles, energy, metals, and mining. The combined net profit of the Nifty50 companies is estimated to decline by 3.4 per cent year-on-year during the quarter, marking its worst showing in the last three years with the exception of the December quarter of 2018.
Read More Trump Spoiler… Prospects for progress in US-China trade talks dimmed after Washington on Monday blacklisted eight Chinese companies over Beijing's treatment of predominantly Muslim ethnic minorities, and President Donald Trump said a quick trade deal was unlikely. The move could deepen divisions between Washington and Beijing at a critical juncture in their 15-month trade war.
Read More Meanwhile...Cinemas are seeing brisk business even as India's economy slows to a six-year low and unemployment swells, according to PVR Ltd., the nation's largest operator of multi-screen theatres. Ever since the box-office hit Kabir Singh released in June, even films with small budgets or less-recognizable actors are drawing the crowds, Kamal Gianchandani, CEO at PVR Pictures, said in an interview this month. Results for July-September will "definitely surprise a lot of people," he said, declining to elaborate.
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