A spike was seen in recycling gold from 36.5 tonne to 41.5 tonnes from July to September 2020 and a total rise of 13.6 percent was seen. The 3 main reasons for such a rise in selling of gold were penned down as need of funds, change of assets and to make money when gold prices were at peak.
- India’s gold financing company Muthoot Finance Ltd has reported a rise in gold loan for the quarter ending in September to be 46,200 Cr which was Rs 40,500 Cr just year ago. Most of the loan taken was by working class and the people needed capital to suffice their needs.
- Chief Executive officer of Manapuram Finance Ltd states that company can see an increase of 15-20 percent in their gold loan policies which were only 10-12 percent a year ago. The rise in gold loans is due to drop in availability of credits which can be obtained from banks and other capital lenders.
- Tamil Nadu grabs one of the top spot for getting as much as 16 percent of the total funds inside the country during the first half of the financial year 2021. The credits were given to the steps taken by the government to support and facilitate industry and investments.
- Securities and exchange board of India (Sebi) has asked all the financial institutions to comply with all the advisories being issued by Indian Computer Emergency Response Team, stating if certain level of data is leaked to wrong side may lead to an increase in attacks and weakening the country’s financial infrastructure.
- A special one hour mohurat trading session is scheduled on the 14th November by the leading stock exchanges NSE and BSE. The trading sessions are supposed to be held between 18:15 to 19:15 hours. The day is start of Hindu new year calneder Samvat and trading on the day is believed to bring wealth and prosperity during the year.
- JioMart after entering into e-commerce business and setting up competition alongside Amazon and Flipkart enters into festive season, it has added a gifting corner on it’s application which lets the consumer avail offers upto 50 percent on items such as sweets, electronics, snacks
- A monthly recovery is seen in MSME dominated retail sector from a -63 percent in July to -30 percent in October. Through a survey 75 percent chose to shop online while individual shop owners indicated a rise in shopping from 41percent to 66 percent. On other hand consumers entering into malls drastically dropped from 71 to 37 percent, to recover from this association has written to government inorder to allow to use extra space in the mall for dining purpose.
- The government is set to announce a new product scheme which focuses on man-made fiber and Technical textile segments, huge benefits are promised inorder to start these textile lines and separate promotion council is set up to promote the textile segments. The aim is to promote greenfield and brownfield investments.
- Companies in India are expected to give a hike of almost 7.3 percent in the pay for year 2021. The companies were offering an hike of 6.1 percent for year 2020 which is reported to be lowest since the 2009. The hike for next year is result of the companies showing resilience and mature propose towards talent in the country.
- Refunds worth RS 1.29 lac Cr was issued to over 39 lac tax payers, for this fiscal year it included personal income tax worth RS 34,820 Cr and Rs 94,370 Cr.
- An interest wavier scheme is due on 5th November, through which borrowers with a loan of upto 2 Cr are eligible for cashback from banks and financial institutions. The benefits are to be extended to categories such as MSME loans, education, housing consumer durable loans, credit card dues, auto, personal and professional as well consumption loans.
How US election will affect Indian Market?
The global economy continues to recover, Indian market has also seen a steady rise in the sales and investments. Economy is said to turnaround in 4th quarter and FY22 is predicted to be a great period. The US elections that have been held recently will have an impact on Indian market in more of a global risk on sentiment fashion. If the elections are a smooth process which will eventually lead to have a leads impact on US market and then on to Indian market but incase if there are to have any controversies, US Market will therefore will be negatively impacted and thus Indian market too.
Under Democrats, a higher average GDP is reported with a growth of around 100bps, they are more trade friendly and faster growth in trade is reported. Cooperate profit, wages and benefits are more under their rule. This, if Biden is set to win the Elections the sectors which may benefit as for india are technology, pharma health care, insurance and consumer sector. Also under Democrats rule one can see soften immigration policies, which can be important to market equities. Also with this we can see a positive impact on IT sector as HCL technologies and Persistant system can be the top picks In the sector.
If Trump is to have the victory one can clearly state that the current trades are set to be continued and positive side can be seen in sectors like auto, banking and small scale consumer durables. Under Republicans one can see tax cuts and a continuation in US- China Tension
Thus, irrespective of who wins many companies are emerging in the market and they will. Outperform And many companies will need multiple loops of cleaning to recover their previous indices which were hit due to the pandemic.