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Bulk investments back in equity MFs
A surge in the number of new fund offers (NFOs) over the past few months have prompted investors, especially high net-worth individuals (HNIs), to start investing lump-sum money in equity funds.
“The recent success of several NFOs indicates that HNIs and retail investors have started investing lump-sum in MF schemes. Over the past few months, we had seen huge participation only from systematic investment plans (SIPs),” said a senior official in the industry.
Recently, SBI Balanced Advantage Fund collected more than Rs 14,500 crore in its NFO, while last month ICICI Prudential Flexicap Fund had collected Rs 9,808 crore. In the current financial year, inflows through SIPs have been over Rs 36,100 crore.
Chirag Madia
Nifty eyes 17,000-mark in Sep
The Nifty50 concluded the August expiry series with gains of 5.4 per cent; it has made higher highs and shallower lows for the last four weeks. Open interest activity has increased 37 per cent on an expiry-to-expiry basis.
The rollover of Nifty positions stood at 83.9 per cent, higher than its quarterly average of 81.5 per cent. The high rollover figure is due to the longs built in the index at higher levels.
"The options data suggests a broader trading range in the 16,000-17,000 zone. A move above the 16,700-mark may result in an up-move towards 17,000. On the flipside, major support remains intact at 16,300 and then 16,100 levels," said Chandan Taparia of Motilal Oswal Financial Services. On Friday, the Nifty closed at 16,712.40.
Ashley Coutinho
Poultry, aqua stocks may gain
Poultry and aquaculture stocks like Venky’s, Apex Frozen Foods and Avanti Feeds are likely to gain from the government's decision to relax norms to import genetically modified soycake. Soycake is used as livestock and aqua feed.
Its skyrocketing prices had made the livestock feed costlier. Analysts said poultry and aqua stocks would gain as this decision would dilute demand-supply constraints in their favour and help them reduce costs.
Sundar Sethuraman
