coronavirus pandemic hit state finances.The rapid spread of the virus has ravaged the global economy, sending markets into a tailspin and costing both oil and non-oil based sovereign wealth funds around $1 trillion in equity losses, according to JPMorgan strategist Nikolaos Panigirtzoglou.His estimates are based on data from sovereign wealth funds and figures from the Sovereign Wealth Fund Institute, a research group.Sticking with equity investments and risking more losses is not an option for some funds from oil producing nations. Their governments are facing a financial double-whammy - falling revenues due to the spiralling oil price and rocketing spending as administrations rush out emergency budgets.Around $100-$150 billion in stocks have likely been offloaded by oil-producer sovereign wealth funds, excluding Norway's fund, in recent weeks, Panigirtzoglou said, and a further $50-$75 billion will likely be sold in the coming months."It makes sense for sovereign funds to frontload … [Read more...] about Covid-19 impact: Oil-rich wealth funds seen shedding up to $225 bln in stocks
Benchmark equity indices Sensex and Nifty extended their fall for the sixth straight week due to heavy selling in the equity market amid lockdowns in major global economies to contain coronavirus pandemic. The 30-share Sensex declined 0.34 per cent to 29,815.59 on March 27 from 29,915.96 on March 20. Likewise, the 50-share Nifty index shed 0.97 per cent to 8,660.25 during the week. Overall, the market kicked of the week with a crash of over 12 per cent on Monday. Thereafter, it pared most of the losses on expectations of government’s and RBI’s coordinated responses to battle the economic fallout of Covid-19. The Reserve Bank o India Governor Shaktikanta Das on Friday said Rs 3.74 lakh crore liquidity will be infused into the financial system. Vinod Nair, Head of Research, Geojit Financial Services, said: “The stimulus package announced by the government and RBI will have limited effect until the actual impact of the contagion is known, both economically and with … [Read more...] about The week that was in 10 stocks: Bajaj Finserv tanks, Piramal shines; over 500 smallcaps erode wealth
Coronavirus has shut down the world of sports and fans are forced to make do without their regular dose of sporting events, be it the EPL, La Liga, tennis, cricket... in fact, almost any sport you can think of. … [Read more...] about Tell us: What games are you playing during this lockdown?
Core Portfolio – 50 – 60% Focus on Alpha – 20 – 25% Emerging Themes – 20 – 25% Our fund managers keep on juggling these allocations based on the prevailing market scenarios and their views of the equity market. This formula of continuous updation and wise investments has reaped results and have ensured a successful run for Axis Focused 25 Fund. … [Read more...] about Make the right choice with Axis Focused 25 Fund
Snowball iCE is the easiest way to get high-quality sound for recording and streaming. Powered by a custom cardioid condenser capsule, the mic delivers clear audio quality that’s much ahead of your built-in computer microphone. It’s even Skype certified, which guarantees impressive results no matter where you use it — at home or the office. … [Read more...] about #KeralaFlood: SRK, Kamal Haasan pledge support; 9-yr-old gives piggy bank savings