Consider these 9 things before investing in mutual funds!
What is the right way to invest in mutual funds? How do mutual funds work? What kind of risk is involved? Which fund is right for whom? What things should be kept in mind before investing? Watch this video to know-
Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 21 points at the opening bell. The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) is scheduled to announce its bi-monthly policy review on August 6 at the end of the three-day meeting held from August 4 to August 6. As per reports, the RBI is likely to maintain the status quo on interest rates. The MPC, a six-member team headed by RBI governor Shaktikanta Das, had left the rates unchanged last time, citing concerns about inflation.
Global markets: Overseas, Asian stocks traded mixed on Thursday, following declines overnight on Wall Street. US stocks closed mostly lower on Wednesday, with the S&P 500 falling from a record high after data signaled a slowdown in jobs growth in July, and General Motors tracked its worst day since early March.
Shares of General Motors dropped sharply, weighing on the broader market after the automaker missed earnings expectations for the second quarter. The automaker did raise its guidance for a key profit metric for the rest of the year.
Vice-chairman Richard Clarida said the Fed is on track for liftoff in interest rates in 2023 and an announcement later this year on paring bond purchases. Clarida painted an upbeat picture of the outlook while acknowledging that the rapid spread of the delta virus strain poses a downside risk.
A measure of US services industry activity jumped to a record high in July. The Institute for Supply Management said on Wednesday its non-manufacturing activity index raced to 64.1 last month, the highest reading in the series’ history, from 60.1 in June.
The ADP private payroll survey showed a gain of 330,000 jobs for July. The Labor Department’s official jobs report, which typically has more impact on investors, will be released on Friday.
Domestic markets: Back home, benchmark indices registered gains for the third consecutive day. The barometer index, the S&P BSE Sensex, was up 546.41 points or 1.02% to end at 54,369.77. The Nifty 50 index gained 128.05 points or 0.79% at 16,258.80.
Foreign portfolio investors (FPIs) bought shares worth Rs 2,828.57 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 411.36 crore in the Indian equity market on 4 August, provisional data showed.
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