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Markets will test discipline, temperament of all of us: Kalpen Parekh of DSP Mutual Fund

Markets will test discipline, temperament of all of us: Kalpen Parekh of DSP Mutual Fund

Finance
DSP Mutual Fund is a respected name in the mutual fund industry. It has been two years since the fund house parted ways with its foreign partner and started operating on its own. Shivani Bazaz of ETMutualFunds.com spoke to Kalpen Parekh, President, DSP Investment Managers, find out how the fund house fared in the last two years, and his plans for it. " We can’t do much about market volatility and like always, there will be a set of investors who will take advantage of this slow phase to build their portfolios for the future and there will be many who may want to move out due to past experience. Our responsibility to hand-hold them and make them live through the phase of volatility will determine the growth rate of the industry," says Parekh.Edited interview. It has been almost two years si
Stock markets surge globally after China’s biggest daily rise since 2015

Stock markets surge globally after China’s biggest daily rise since 2015

Business
Global stock markets have surged despite rising clusters of coronavirus infections threatening to derail economic recovery.Investors took the lead from China's benchmark Shanghai Composite index, which jumped by 5.8% on Monday to record its biggest daily increase in five years. Analysts said the share spending spree was fuelled by cheap funding to invest in an economy that analysts predict will recover faster and better than other major countries battling new waves of infections. They include the US, the world's largest economy, which is enduring rising numbers of COVID-19 cases in 41 states, with Florida witnessing record daily growth in confirmed sufferers.Edward Moya, senior market analyst at OANDA in New York, said only a big acceleration in fatalities would likely affect market se...
Market’s historic rebound may soon hit a breaking point, PNC’s Amanda Agati warns

Market’s historic rebound may soon hit a breaking point, PNC’s Amanda Agati warns

Finance
PNC Financial's Amanda Agati is on alert. With the major indexes on the cusp of their second positive month in a row, the firm's chief investment strategist believes stocks are getting too expensive, and the historic rebound may soon hit a breaking point."The market is getting pretty far ahead of itself," she told CNBC's "Trading Nation" on Thursday. "The market is really pricing for perfection here."Since the March 23 low, the S&P 500 and Dow have surged 38% and 39%, respectively. Meanwhile, the tech-heavy Nasdaq is seeing an even bigger rally. It's up 41% since then."It's not the good kind of multiple expansion that we're seeing here with the bottom dropping out of earnings especially for smaller cap names where leverage is basically sitting at all-time highs," said Agati.Accord...
Investor wealth drops Rs 3.30 lakh crore as equity markets tank

Investor wealth drops Rs 3.30 lakh crore as equity markets tank

Finance
New Delhi: Investor wealth on Tuesday fell by Rs 3,30,408.87 crore after equity markets came under heavy selling pressure following sell-off in global stocks as rout in crude oil hit investor sentiment. The Sensex tumbled 1,011.29 points, or 3.20 per cent, to close at 30,636.71. Led by the sharp fall in the index, the market capitalisation of the BSE-listed companies dropped Rs 3,30,408.87 crore to Rs 1,20,42,172.38 crore. "After the US crude oil crash, Indian markets, in sync with global markets traded negatively, as the extent of the impact of lockdowns and the global slowdown is becoming evident. Corporate earnings have also been impacted by the pandemic related shutdowns. Post-earnings management guidance has also not given clear indication about the recovery path," Vinod Nair, head of...
Eight out of 10 financial advisors see markets diving lower, survey finds

Eight out of 10 financial advisors see markets diving lower, survey finds

Finance
Photo by Ariel Skelley via Getty ImagesMarkets have been a roller coaster ride in the weeks since the coronavirus pandemic reached the U.S. Most of the country's financial advisors think we haven't hit bottom yet, a survey finds.Despite periodic rallies — like Monday's more than 7% rise of both the Dow Jones and S&P 500 — 81% of advisors polled by Ned Davis Research said stocks will still eventually sink lower than the S&P's March 23 level of 2,237, when it was down 34% from its Feb. 19 peak. More than half of advisors surveyed expect the market low to be reached by May 31, while 25% expect markets to bottom even later. NDR found that just 19% of advisors believe the bottom had already been reached by March 23.Given those sentiments, advisors are likely to remain "cautious about d