Why ULIP mis-selling has become rampant ?
Why is there so much mis-selling of ULIP? How to avoid this mis-selling? Who should take ULIP?
SGX Nifty: Trading of Nifty 50 index futures on the Singapore stock exchange indicates that the Nifty could rise 18 points at the opening bell.
On the macro front, Markit Manufacturing PMI for June will be declared today, 1 July 2021.
The combined output of the eight core sector industries rose by 16.8% in May, as compared to a year ago. Core sector output had risen by 60% in the previous month of April. The eight core industrial of coal, crude oil, natural gas, refinery products, steel, cement, fertiliser and electricity have a combined weight of over 40% in the Index of Industrial production, or IIP.
India has received 10% more rainfall than normal in June, the India Meteorological Department (IMD) said on Wednesday. The monsoon made onset over Kerala on June 3.
Global markets: Overseas, Asian stocks traded mixed Thursday on concerns about the more contagious delta strain of Covid-19 and looked ahead to a US payrolls report.
China’s factory activity expanded at a softer pace in June. The Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 51.3 last month from May’s 52, marking the 14th month of expansion.
Japanese big manufacturers’ business confidence improved in the second quarter to hit a two-and-half-year high, a central bank survey showed. Service-sector sentiment also turned positive for the first time in five quarters, the Bank of Japan’s (BOJ) “Tankan” survey showed.
The S&P 500 nabbed its fifth straight record closing high on Wednesday as investors shrugged off positive economic data and looking toward Friday’s highly anticipated employment report.
U.S. private payrolls increased more than expected in June. Private payrolls increased by 692,000 jobs in June. Data for May was revised lower to show 886,000 jobs added instead of the initially reported 978,000.
Domestic markets: Back home, the domestic equity benchmarks ended with minor losses on Wednesday. The barometer index, the S&P BSE Sensex, shed 66.95 points or 0.13% to 52,482.71. The Nifty 50 index lost 26.95 points or 0.17% to 15,721.50.
Foreign portfolio investors (FPIs) sold shares worth Rs 1,646.66 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,520.18 crore in the Indian equity market on 30 June, provisional data showed.
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