Shankar Sharma has a tip for your stock portfolio: 2 stocks or five stocks and 10 will not make you money. Have at least 25! "By natural selection, if you do reasonable home work, you should be able to find one or two good names in that list. If you are very good, you might find five. But if you buy only five, you may not find even one," says he. The seasoned investor also tells you not to go gung-ho on stocks. "Equities should not be more than 30-40% of your asset pie. It is unwise to be 70% in equities, unless you are extremely proficient at this game. But, in the market you can become a pro only when you turn 50," says he. That's wisdom acquired from experience; better pay heed!
MARKET CUES: Where do we stand >>>  | Nifty futures on the Singapore Exchange traded 17 point lower at 7 am (IST) this morning, signaling a weak start for Dalal Street. |
| On Monday, as Nifty50 snapped a three-day losing streak and closed above the 11,250 level, it formed an indecisive Doji and an Inside Bar on the daily chart. Analysts said the consolidation in the index may continue |
| Asian stocks drifted Tuesday after the S&P500 Index failed at another attempt to break a record high amid an impasse over US stimulus measures. Stocks slipped in Japan and South Korea, and fluctuated in Hong Kong, China and Australia. |
| The Nasdaq surged to a record high close on Monday at 11,129, while S&P500 approached its own record, as both indices were lifted by Nvidia and other technology stocks. While Dow fell 0.31%, the S&P500 gained 0.27% and the Nasdaq 1%. |
| The rupee on Monday pared most of its intra-day gains to settle marginally higher by 2 paise at 74.88 against the US dollar. |
| The dollar teetered near milestone lows on Tuesday, after a triple blow of retreating yields, soft U.S. economic data and a dip in safe-haven demand exerted broad selling pressure. It is poised to re-test multi-month or multi-year troughs against the euro, Aussie, pound, Swiss franc and yuan. |
| Oil prices edged lower, holding onto overnight gains after OPEC+ said the grouping is fully complying with output cuts to support prices. Brent fell 6 cents, or 0.1%, to $45.31 a barrel while WTI crude slipped 8 cents, or 0.2%, to $42.81 |
| Indian gold prices edged lower on Monday, tracking a drop in global rates. On MCX, October gold futures fell Rs 52,207 per 10 gm while silver futures edged up 0.35 per cent to Rs 67,403 a kg. In global markets, spot gold fell 0.2% to $1,941.90 an ounce. |
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Economic recovery sustains pace… The Indian economy has sustained an increasing pace of recovery through August so far, after a prolonged period of plateauing trends in July, Japanese brokerage Nomura said in a note on Monday. The Nomura India Business Resumption Index went up to 73.7 for the week ended August 16 from the previous week's reading of 72.3. This came after the weekly tracker of the pace at which economic activity normalises stagnated at the 70 mark for three weeks in July.
Read More FT closed debt schemes get more cash… The six debt schemes of Franklin Templeton Mutual Fund that have been shut received payments of Rs 708 crore from various issuers in the first two weeks of August. With this, the schemes have managed to get back Rs 4,988 crore from maturities of securities, pre-payments by issuers and coupon payments since it announced their closure on April 23. Almost Rs 26,000 crore of investors money is stuck in the six funds.
Read More India hiring recovers from April lows… Overall hiring in India has recovered from the lows of April with software engineers, business development and sales managers being among the jobs with highest demand, according to a report. It noted that those working in recreation and travel sectors, the hardest hit by Covid-19, are almost seven times more likely to look for a job in a different sector.
Read More Sebi panel weighs one commodity, one bourse… The Commodity Derivatives Advisory Committee, one of Sebi's 21 active panels, will discuss the contentious concept of "one commodity one exchange" at its meeting slated for next month. The concept involves exclusive permission, for 3-5 years, to a single stock exchange to prospectively develop a yet-to-be-listed commodity from among the 91notified ones or a newly notified one.
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SC asks why JIO shouldn't pay RCom AGR dues… The Supreme Court on Monday asked the government to explain why Reliance Jio should not be asked to pay the AGR dues of RCom, especially when the Mukesh Ambani-owned telco was using its spectrum to earn revenues. This, after Jio argued that such liabilities cannot be transferred to it under the spectrum-sharing arrangement between the two companies. The three-judge bench asked RCom to explain the sharp drop in the value of assets in a year.
Read More Indian economy shrinks by 1/4th in Q1... India's economy may have contracted by as much as one-fourth in the June quarter because of Covid-19 and the lockdown that ensued, according to a poll of 11 economists conducted by ET. They warned that a recovery may take a while as the virus spread prompted further localised closures. Their contraction estimates ranged from 13.6% to 25.7% and are in line with those seen in other Covid-hit countries.
Read More Auditors red-flag Tata Steel Europe… The auditors of Tata Steel Europe have said there is 'significant doubt' regarding the company continuing 'as a going concern' owing to concerns over its ability to raise adequate funds for working capital requirements over a period of time. The auditors said while TS Global Procurement Company has given an undertaking "to provide working capital up to a specified amount" in the short run, it does not constitute "a promise" for meeting Tata Steel Europe's "future funding plans".
Read More Meanwhile... 60% moratorium loans may seek recast… As many as 60% of loans under moratorium, which make for 4% to 8% of the banking sector loan book, could seek restructuring under RBI's special window. Out of these loans, as much as 50% could slip into non-performing assets, resulting in a slippage of 2% or 4% of loans in the next two years, brokerage firm Jefferies said in a note.
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