India’s stock markets ended last week with gains as benchmark indices – Sensex and Nifty – gained over 1%. This was mainly because India has been vaccinating its population at an extremely fast pace – with over 8 million doses being administered daily.
Gains were mostly coming in from metal, financial and IT stocks. Even though the markets ended in green, investors became nervous that the US would raise interest rates as early as the end of 2022. The US raising rates would mean investors would take money out of India and put it back in the US as returns over there would rise. Another concern was that India’s growth forecasts were cut to 9.6% from 13.9% by a global credit rating company.
Quote of the week
A game is won when you focus on the playing field and not the scorecard. Click To Tweet
“A game is won when you focus on the playing field and not the scorecard.”
The Big Picture
- Foreign Exchange Reserves in India decreased to $603.93 billion on June 18 from $608.08 billion in the previous week.
India’s new ‘green tariff’ program
In what will reinforce India’s green energy credentials, the union government is working on a ‘green tariff’ policy that will help electricity distribution companies (discoms) supply electricity generated from clean energy projects at a cheaper rate as compared to power from conventional fuel sources such as coal.
Making CAGR more contextual
The smallcase platform constantly strives to make investing more transparent and accessible for you. Some of the previous updates included a live smallcase performance chart, improved CAGR calculations, and more. Keeping in mind constructive feedback from our investors, we’ve come up with more important updates on the transparency front.
Our latest update brings a time label, along with the CAGR, to make it more contextual. Read more about this, here.
Windmill Capital has launched 3 new smallcases
Our first smallcase manager, Windmill Capital, has launched 3 new ETF smallcases. The Global Opportunites smallcase helps investors invest in the largest US and Indian companies. The Top 250 Stocks smallcase helps people invest in India’s largest 250 companies. Finally, the Equity & Debt smallcase helps investors to get exposure to the right balance between equity and debt.
Read more about this, here.
That’s all for this week – take care, and happy investing! 🙂