Navi MF's move to launch Nifty 50-based index fund at 0.06% had stoked fears of price war
Nifty 50 index rose 61 points, or 0.4 per cent, to end at a new lifetime high of 15,879.65
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, notes T N Ninan
NFO for Navi Nifty 50 Index Fund opens July 3; scheme will have expense ratio of just 0.06% under the direct plan and 0.26% under regular plan which is bought through an intermediary
The index fell 0.25 per cent during the week, its first weekly fall since May 14.
Booming markets have left industry swamped with work at a time when many employees have been sickened by the virus.
Shares including the likes of Bharat Heavy Electricals started outpacing the Nifty 50 Index at the end of March
Volatility index, India VIX, however, surged 11 per cent to 21 levels ahead of the expiry of monthly F&O contracts due tomorrow
Returns were calculated on time-weighted rate of return, which eliminates effects of inflows and withdrawals from schemes to get a clearer sense of fund manager's performance
The National Stock Exchange (NSE) has slashed the market lot size for derivative contracts on Nifty 50, a move that will reduce the burden of excessive upfront margins for retail traders
Shares of Easy Trip Planners are in huge demand in the grey market, with operators willing to pay a premium of over 70 per cent.
Move is expected to result in passive inflows of $89 million (Rs 650 cr) in Tata Consumer. Gail could see outflows of $57 million (Rs 410 cr)
The Nifty PSU bank index ended as the top laggard on the NSE, down 4.7 per cent, after surging nearly 6 per cent each over the past two days
Sectorally, the Nifty PSU Bank index jumped another 5.6 per cent today, while the Nifty CPSE and Energy indices settled up to 4 per cent higher
The broader markets ended higher today with the S&P BSE MidCap and SmallCap indices settling 0.2 per cent and 0.43 per cent up, respectively
The Nifty Bank index stole the show and hit a new peak of 37,309 levels, up 1,200 points in the intra-day trade. The index closed 1,197 points, or 3.3 per cent, higher at 37,306 levels
On the sectoral front, the Nifty Metal index skid 1.7 per cent, followed by the Nifty FMCG index declined 1.5 per cent
On the sectoral front, Nifty PSU Bank index declined over 1 per cent on the NSE, followed by losses in the Nifty Auto index (down 0.4 per cent), and the Nifty Realty index (down 0.24 per cent)
The broader markets, however, bucked the trend and ended higher today. The S&P BSE MidCap and SmallCap indices added 0.7 per cent and 0.4 per cent, respectively at close
The Nifty Auto, Metal, and Pharma indices settled over 1 per cent lower each