Core Viewpoint - The Indian equity market has experienced significant underperformance in 2023, with the Nifty 50 index only increasing by approximately 5% year to date, contrasting sharply with a 22% gain in the previous year and lagging behind many Asian markets that have surged over 30% [1][2] Group 1: Causes of Underperformance - Disappointing corporate earnings growth, subdued domestic consumption, and adverse tariff disputes, including new U.S. tariffs, have negatively impacted export-sensitive sectors and contributed to rupee depreciation [4] - Domestic political uncertainty, a slowdown in capital expenditure (capex), and a shift of global capital to safer markets have pressured Indian equities, with foreign investors estimated to have sold over $30 billion in Indian equities over the past year [5] - The Indian equity market's valuation remains high, trading at approximately 22.3 times forward earnings, about 20% above its long-term norm, which has raised concerns [5][6] Group 2: Positive Outlook - Goldman Sachs has upgraded the Indian equity market to "overweight" after 13 months of a "neutral" rating, citing supportive policy changes such as anticipated RBI rate cuts, liquidity easing, and reductions in the Goods and Services Tax (GST) [7] - Record equity purchases by Domestic Institutional Investors (DIIs) and steady retail Systematic Investment Plan (SIP) inflows have stabilized the market amid foreign portfolio investor (FPI) selling [8] - The end of a year-long cycle of earnings downgrades suggests a clear earnings rebound is expected, contributing to a bullish outlook [9] Group 3: Investment Opportunities - Several Indian ETFs are highlighted as potential investment opportunities, including: - **iShares MSCI India ETF (INDA)**: Net assets of $9.57 billion, top holdings include HDFC Bank (8.12%), Reliance Industries (6.59%), and ICICI Bank (5.18%), with a year-to-date gain of 4% [11][12] - **WisdomTree India Earnings Fund (EPI)**: Total assets of $2.85 million, top holdings include Reliance Industries (7.49%), HDFC Bank (6.17%), and ICICI Bank (5.26%), with a year-to-date gain of 3.1% [13] - **iShares India 50 ETF (INDY)**: Total assets of $690.23 million, top holdings include HDFC Bank (12.73%), Reliance Industries (8.53%), and ICICI Bank (8.14%), with a year-to-date gain of 5.2% [14] - **Franklin FTSE India ETF (FLIN)**: Total assets of $2.59 billion, top holdings include HDFC Bank (7.13%), Reliance Industries (6.45%), and ICICI Bank (4.54%), with a year-to-date gain of 3.6% [15]

Credit card reward points can be very versatile and put to various uses. They can be redeemed for statement credit, to pay for online transactions, purchase gift vouchers, direct redemption on the bank portal, purchase merchandise, transfer to airline/hotel loyalty partners, donation, etc. In this article, we will explore how HDFC Bank credit cardholders can redeem their reward points for travel.Travel redemption on SmartBuyHDFC Bank SmartBuy is a platform for the communication of various offers from mercha ...

Sector Performance - The IT sector accounts for 9.91% of the Nifty's total weight, with Infosys at 4.53% and TCS at 2.65% [1] - Over the past year, Infosys shares have fallen 18%, while TCS has declined 27% [1] - HCL Technologies, Wipro, and Tech Mahindra have also seen declines of 16%, 16%, and 17%, respectively [1] - The power sector, with a weight of 2.27% in the Nifty, has also underperformed, with constituents like Power Grid Corporation, NTPC, and Coal India declining 19%, 17%, and 9% respectively [1] Financial Sector - Financials hold the largest weight in the Nifty at 36.33%, yielding up to 48% returns [8] - Bajaj Finance leads the financial sector, followed by SBI Life Insurance Company at 28% [8] - HDFC Bank, with a weight of 12.78%, returned 12%, while ICICI Bank and State Bank of India outperformed the index with returns of 12% and 7% respectively [8] Auto and FMCG Sectors - Tata Motors has seen a significant decline of 49%, making it the worst-performing Nifty stock, while Bajaj Auto has dropped 10% [4] - In the FMCG sector, ITC has fallen 15% and Hindustan Unilever is down nearly 3% [5] Healthcare Sector - Healthcare stocks have had mixed performance, with Sun Pharmaceuticals, Dr Reddy's Laboratories, and Cipla slipping up to 6% [6] - Conversely, Max Healthcare and Apollo Hospitals have shown positive returns, with Max up 7% and Apollo up 5% [6] Metals and Capital Goods - In the metals sector, Tata Steel, JSW Steel, Hindalco Industries, and Grasim Industries have rallied between 25% and 10%, while Adani Enterprises has declined 18% [9] - Bharat Electronics from the capital goods space has delivered a notable 43% return [10] Market Outlook - A constructive outlook for the Nifty is expected, with a potential range of 5-7% movement [11][16] - The IT sector may benefit from improving global tech spending and margin stability, while the energy sector is supported by resilient demand and easing input costs [12][16] - Renewed foreign institutional investor interest is anticipated in fundamentally strong and reasonably valued companies [13][16]

Small is beautiful, said German-born British economist, E.F. Schumacher, in the early 1970s. But not in the world of banking. Or so it would seem, going by comments of home minister Amit Shah and, lately, finance minister Nirmala Sitharaman on increasing the size, including possibly through consolidation, of public sector banks (PSBs). The desire to see more Indian banks enter the ranks of top global banks is understandable. Much like the desire to see India move up the rankings in the league of the world’s ...

When you apply for a personal loan, you have to fulfil various eligibility criteria. Some of these include a good credit score, a low debt-to-income (DTI) ratio, age, income, work experience, etc. Your work experience is one of the criteria that is considered when approving your personal loan application. In this article, we will understand how your overall work experience can impact your personal loan application.Impact of work experience on personal loan applicationOne of the criteria that the bank consid ...

Lentra, a software as a service (SaaS) company that helps digitize lending operations at banks and non-banking finance companies, plans to sell shares on public markets in three years time, a period during which it has set itself a target to expand revenues four times, a top company executive said. Backed by MUFG Bank and Bessemer Venture Partners, Lentra has set itself a steep revenue target of ₹1,000 crore by fiscal 2028 up from the current ₹220 crore. Valued at around $400 million, the Pune-based compan ...

Before applying for a personal loan, most people consider their credit score and income only to determine their eligibility. An individual may have a decent credit score of 700+. Yet, in some cases, the loan application may still get rejected. In this article, we will explore some of the reasons why a personal loan application may get rejected inspite of having a decent credit score.Credit score is only one of the eligibility criteriaBanks and NBFCs have various eligibility criteria for personal loans and o ...

Core Viewpoint - LIC has significantly rebalanced its portfolio by divesting from major private banks such as HDFC Bank and ICICI Bank, and has made aggressive investments in State Bank of India and Yes Bank, indicating a growing confidence in the PSU banking sector's valuation and future prospects [1] Group 1 - LIC's strategic shift reflects a notable change in investment focus towards public sector banks [1] - The move comes despite a trend of foreign investors favoring private lenders, showcasing a divergence in investment strategies [1] - This reallocation of assets may signal a broader trend in the banking sector, where confidence in PSU banks is increasing [1]

Market Performance - The BSE benchmark fell by 722.43 points, or 0.86%, while the Nifty dropped by 229.8 points, a decline of 0.89% [2][4] - Seven of India's ten most valued companies collectively lost Rs 88,635.28 crore in a holiday-shortened session [4] Company Valuations - Bharti Airtel's market capitalisation decreased by Rs 30,506.26 crore, settling at Rs 11,41,048.30 crore [4] - Tata Consultancy Services (TCS) faced a reduction of Rs 23,680.38 crore, bringing its valuation to Rs 10,82,658.42 crore [4] - Hindustan Unilever's market cap dropped by Rs 12,253.12 crore to Rs 5,67,308.81 crore [4] - Reliance Industries fell by Rs 11,164.29 crore to Rs 20,00,437.77 crore [4] - HDFC Bank saw its market cap decrease by Rs 7,303.93 crore to Rs 15,11,375.21 crore [4] - Infosys' valuation edged down by Rs 2,139.52 crore to Rs 6,13,750.48 crore [4] - ICICI Bank slipped by Rs 1,587.78 crore to Rs 9,59,540.08 crore [4] Gainers - Life Insurance Corporation of India (LIC) gained Rs 18,469 crore, taking its market value to Rs 5,84,366.54 crore [3][4] - State Bank of India (SBI) rose by Rs 17,492.02 crore to Rs 8,82,400.89 crore [3][4] - Bajaj Finance added Rs 14,965.08 crore, reaching Rs 6,63,721.32 crore [3][4] Rankings - Reliance Industries maintained its position as the country's most valued firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, SBI, Bajaj Finance, Infosys, LIC, and Hindustan Unilever [3][4]

Market Valuation Changes - The combined market valuation of seven of the top-10 most valued firms decreased by ₹88,635.28 crore in a holiday-shortened week, with Bharti Airtel and Tata Consultancy Services experiencing the largest declines [1] - The BSE benchmark fell by 722.43 points or 0.86%, while the Nifty declined by 229.8 points or 0.89% during the same period [1] Individual Company Valuations - Bharti Airtel's market valuation dropped by ₹30,506.26 crore to ₹11,41,048.30 crore [2] - Tata Consultancy Services (TCS) saw a valuation decrease of ₹23,680.38 crore, bringing its total to ₹10,82,658.42 crore [2] - Hindustan Unilever's market capitalisation fell by ₹12,253.12 crore to ₹5,67,308.81 crore [3] - Reliance Industries' valuation decreased by ₹11,164.29 crore to ₹20,00,437.77 crore [3] - HDFC Bank's market capitalisation dipped by ₹7,303.93 crore to ₹15,11,375.21 crore [3] - Infosys' valuation edged lower by ₹2,139.52 crore to ₹6,13,750.48 crore [3] - ICICI Bank's valuation declined by ₹1,587.78 crore to ₹9,59,540.08 crore [4] Gainers in Market Valuation - Life Insurance Corporation of India (LIC) experienced an increase in market capitalisation by ₹18,469 crore to ₹5,84,366.54 crore [4] - State Bank of India saw its valuation rise by ₹17,492.02 crore to ₹8,82,400.89 crore [4] - Bajaj Finance's market valuation increased by ₹14,965.08 crore to ₹6,63,721.32 crore [4] Ranking of Most Valued Firms - Reliance Industries remains the most valued domestic firm, followed by HDFC Bank, Bharti Airtel, TCS, ICICI Bank, State Bank of India, Bajaj Finance, Infosys, LIC, and Hindustan Unilever [4]