The NSE Nifty Future is trading at 11,422.00 up with +0.23% percent or +26.25 point. The Nikkei 225 Future is trading at 22,460.00 with a loss of -0.13% percent or -30.00 point . The Hang Seng Future is trading at 27,739.00 up with +0.46% percent or +126.00 point.
TODAY’S FACTORS AND EVENTS
Recent regulatory actions have forced India’s mutual fund houses to re-classify their existing schemes. The sole motto of the new guidelines is basically to rationalise the plethora of schemes, which, at times, were quite confusing for investors. This, often, led to poor investment decisions, and even misselling of mutual funds schemes.
In the wake of re-classification, largecap schemes are likely to lose weight when it comes to creating wealth for investors. These schemes, as the category suggests, invest in top companies which are usually part of the benchmark indices of the Indian stock market indices — the Sensex and the Nifty 50. However, if one looks at the return of the largecap category over the past decade, one finds that vis-a-vis their benchmarks, the category has continuously failed to beat the benchmark with a wide margin.
PREVIOUS DAY ACTIVITY
For the day the Dow is trading at 25,326.16 with a loss of -0.030% percent or -7.66 point. The S&P 500 is trading at 2,827.22 up with +0.49% percent or +13.86 point. The Nasdaq Composite is trading at 7,802.68 up with +1.24% percent or +95.40 point.
In other parts of world, Japan’s Nikkei 225 is trading at 22,525.18 up with +0.056% percent or+12.65 point. Hong Kong’s Hang Seng is trading at 27,676.42 with a loss of -0.14% percent or -38.14 point. China’s Shanghai Composite is trading at 2,740.44 with a loss of -1.00% percent or -27.58 point. India’s BSE Sensex is trading at 37,477.19 up with +0.84% percent or +312.03 point at 12:15 PM.