We believe that the divergence between Value and Growth stocks continues to prevail, & that volatility is a factor which is inherent in equity as an asset class.
Our „VCTS‟ framework is currently indicating that, Valuations - are reasonable for long term investments, Cycle – Business Cycle has bottomed out, Trigger would be the trajectory of COVID-19 growth curve and vaccine development and Sentiments – around equity as an asset class is negative due to muted past returns and relatively low FPI flows. We recommend that it is a good time to accumulate equities and stay invested for long term across market cycles.
• Historically, financial crisis have generally occurred due to endogenous factors – economic imbalances like high crude prices, high inflation, etc. This time it is different since macros being stable, the current crisis is the result of an external factor i.e. COVID-19
• India’s long term growth story remains intact since it is better placed in terms of fundamentals
• We believe, Emerging Markets have the potential to recover better than Developed Markets & that Value as a theme performs better than Growth during recovery phase. Hence, we recommend investing in ICICI Prudential Value Discovery Fund
• Owing to the temporary economic crisis due to COVID-19, we recommend investing in ICICI Prudential India Opportunities Fund
• Given further uncertainty regarding the spread of COVID-19, volatility is expected to prevail. We recommend investing in ICICI Prudential Balanced Advantage Fund to manage volatility • We remain positive on the Smallcap space as valuations are reasonable & recommend investing in ICICI Prudential Smallcap Fund
• Post any crisis, sectoral leadership has changed in the past. Aim to invest in future potential leaders through ICICI Prudential Focused Equity Fund
We remain positive on the bond markets. A good strategy may be to create a portfolio with maturity in the range of 2-5 years along with accumulating spread assets to give better carry to the portfolio. Read our Fixed Income Update for Aug 2020
Interbank call money rates remained mostly below the RBI‟s repo rate of 4% in May owing to comfortable liquidity in the system. However, some pressure was seen on the rates following intermittent spike in demand for funds from banks.
Currency in circulation rose 18.4% on-year in the week ended May 22, 2020, compared with 14.2% growth a year ago. The RBI, via its liquidity window, absorbed Rs 5114.71 billion on a net daily average basis in May 2020, compared with net liquidity absorption of Rs 4751.55 billion in April 2020.
Bank credit growth rose 6.5% on-year in the fortnight ended May 8, 2020, compared with 7.2% on-year growth reported in the fortnight ended April 10, 2020.
Indian equity indices ended lower in May 2020 owing to
concerns about rise in domestic Covid-19 cases and extension of the nationwide lockdown. Benchmarks S&P BSE Sensex and Nifty 50 declined 3.84% and 2.84%, respectively in May 2020.
Monthly market outlook (July 2021) | ICICI Prudential Mutual Fundiciciprumf
Valuations are not cheap but the business cycle remains in the nascent phase. Read our Monthly Market Outlook for July 2021 to understand more about Equity Markets and Fixed Income Markets.
We believe that the divergence between Value & Growth stocks continues to prevail. Currently, fundamentally sound value stocks are available at inexpensive valuations & have better earnings visibility. Read our Equity Update for August 2020
Indian equities surged in the month of March in a catch-up rally after months of range-bound trading on the back of easing inflation giving rise to expectation of lower interest rates, strengthening rupee and record foreign investor flows. Indian equities rose by 7.8 per cent during the month.
Read the full document to know more.
Our „VCTS‟ framework is currently indicating that, Valuations - are reasonable for long term investments, Cycle – Business Cycle has bottomed out, Trigger would be the trajectory of COVID-19 growth curve and vaccine development and Sentiments – around equity as an asset class is negative due to muted past returns and relatively low FPI flows. We recommend that it is a good time to accumulate equities and stay invested for long term across market cycles.
• Historically, financial crisis have generally occurred due to endogenous factors – economic imbalances like high crude prices, high inflation, etc. This time it is different since macros being stable, the current crisis is the result of an external factor i.e. COVID-19
• India’s long term growth story remains intact since it is better placed in terms of fundamentals
• We believe, Emerging Markets have the potential to recover better than Developed Markets & that Value as a theme performs better than Growth during recovery phase. Hence, we recommend investing in ICICI Prudential Value Discovery Fund
• Owing to the temporary economic crisis due to COVID-19, we recommend investing in ICICI Prudential India Opportunities Fund
• Given further uncertainty regarding the spread of COVID-19, volatility is expected to prevail. We recommend investing in ICICI Prudential Balanced Advantage Fund to manage volatility • We remain positive on the Smallcap space as valuations are reasonable & recommend investing in ICICI Prudential Smallcap Fund
• Post any crisis, sectoral leadership has changed in the past. Aim to invest in future potential leaders through ICICI Prudential Focused Equity Fund
We remain positive on the bond markets. A good strategy may be to create a portfolio with maturity in the range of 2-5 years along with accumulating spread assets to give better carry to the portfolio. Read our Fixed Income Update for Aug 2020
Interbank call money rates remained mostly below the RBI‟s repo rate of 4% in May owing to comfortable liquidity in the system. However, some pressure was seen on the rates following intermittent spike in demand for funds from banks.
Currency in circulation rose 18.4% on-year in the week ended May 22, 2020, compared with 14.2% growth a year ago. The RBI, via its liquidity window, absorbed Rs 5114.71 billion on a net daily average basis in May 2020, compared with net liquidity absorption of Rs 4751.55 billion in April 2020.
Bank credit growth rose 6.5% on-year in the fortnight ended May 8, 2020, compared with 7.2% on-year growth reported in the fortnight ended April 10, 2020.
Indian equity indices ended lower in May 2020 owing to
concerns about rise in domestic Covid-19 cases and extension of the nationwide lockdown. Benchmarks S&P BSE Sensex and Nifty 50 declined 3.84% and 2.84%, respectively in May 2020.
Monthly market outlook (July 2021) | ICICI Prudential Mutual Fundiciciprumf
Valuations are not cheap but the business cycle remains in the nascent phase. Read our Monthly Market Outlook for July 2021 to understand more about Equity Markets and Fixed Income Markets.
We believe that the divergence between Value & Growth stocks continues to prevail. Currently, fundamentally sound value stocks are available at inexpensive valuations & have better earnings visibility. Read our Equity Update for August 2020
Indian equities surged in the month of March in a catch-up rally after months of range-bound trading on the back of easing inflation giving rise to expectation of lower interest rates, strengthening rupee and record foreign investor flows. Indian equities rose by 7.8 per cent during the month.
Read the full document to know more.
Annual Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current environment is akin to shifting sands, where dynamism is at its peak. Hence, it would be prudent to have an active management approach. Read our annual outlook 2022, to know more.
We believe valuations are not cheap, but business cycle remains in the nascent stage. Prefer middle-of-the-road approach and recommend investing in schemes with higher flexibility.
Annual Fixed Income Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
Shifting Sands, a year of active management - In the Fixed Income space, currently there are lot of dynamic elements at play. With limited scope for rate cuts, we recommend investing in Floating Rate Bonds which may benefit from rising interest rates. We recommend investing in spread assets with an aim to benefit from higher carry.
Equity Outlook: Long-term view on equity remains positive, however the medium-term view has turned cautious due to valuations moving higher.
Fixed Income: In the current phase, a more nimble and active duration management strategy is recommended
Interim Budget 2019, presented on Feb 1, held a few good surprises for the farmer community and the salaried classes but was largely in line with market expectations. Markets, which had already ended January 2019 on a flat note (up 0.5% for the month), remained largely unaffected by the Budget announcements. Read the document to know more.
Indian Equity Markets (Nifty 50 Index) inched higher (+1.5%) during the month outperforming its emerging market peers.
New set of positive reforms by the government on domestic front and expectations of resolution of US-China trade war on
the global front were the major contributing factors which lifted sentiments.
Read the full document to know more.
Annual Equity Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current market scenario reminisces one of Shifting Sands wherein volatility may prevail due to dynamically changing macros. This warrants the need for active management. Hence, we recommend schemes that have flexibility to invest across different asset classes, Marketcap & Themes
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that market Valuations are not cheap. Business Cycle remains in the nascent stage.
Equity investing can be looked at only from a long term perspective coupled with “Dynamic Asset Allocation Scheme’ that aims to manage market volatility.
Indian equities ended a very volatile month of February down 1.1% from the previous month on account of the Interim Budget, a preemptive military strike by India, slow recovery in earnings growth over the last two quarters, buzz around general elections, and receding tensions between US and China.
Read the full document to know more.
Indian equity indices remained in the
positive terrain for the second consecutive month in October
2019, amid hopes of tax realignment on equities, foreign inflows
and upbeat global cues. The benchmark S&P BSE Sensex hit the
intraday record high of 40,392 on October 31, 2019. The S&P
BSE Sensex and Nifty 50 ended the month with around 4%
gains each.
Read the full document to know more.
"Sell in May and go away‟ this old Wall Street adage has once again proved correct for most of the Global Markets which have witnessed a correction in the month of May. However, Indian markets took no cue from the above saying and continued to chug along through the month ending in a positive territory
( 1.7%).
Read the full document to know more.
The Nifty 50 Index was up by 1.1%. The positive returns of the index hides the heightened volatility witnessed in the month
of April. This was reflected in India NSE volatility index which spiked by ~27%. The outcome of the ongoing general
elections, concerns around oil prices and global geo-political developments mainly weighed on the investor sentiments.
Read the full document to know more.
Government’s release of Rs 86.55 billion to certain
banks for preferential allotment of shares, hopes of more reform
measures by the government in the upcoming Budget, and
sustained inflows from the foreign institutional investors (FIIs)
augured well for the local indices.
Read the full document to know more.
Index Performance: Indian equity indices S&P BSE Sensex and Nifty 50 tanked 23% each in March 2020 due to worries about the rapid spread of Covid19 in the country and the government’s lockdown decision. The benchmark
indices also logged their biggest one-day fall on March 23 and hit their lower circuits twice in the month, triggering trading halts for 45 minutes.
Inflation: Retail inflation, based on Consumer Price Index (CPI), fell to 6.58% in February 2020 from a 68-month high of 7.59% in January, because of a decline in food prices and the base effect.
Annual Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current environment is akin to shifting sands, where dynamism is at its peak. Hence, it would be prudent to have an active management approach. Read our annual outlook 2022, to know more.
We believe valuations are not cheap, but business cycle remains in the nascent stage. Prefer middle-of-the-road approach and recommend investing in schemes with higher flexibility.
Annual Fixed Income Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
Shifting Sands, a year of active management - In the Fixed Income space, currently there are lot of dynamic elements at play. With limited scope for rate cuts, we recommend investing in Floating Rate Bonds which may benefit from rising interest rates. We recommend investing in spread assets with an aim to benefit from higher carry.
Equity Outlook: Long-term view on equity remains positive, however the medium-term view has turned cautious due to valuations moving higher.
Fixed Income: In the current phase, a more nimble and active duration management strategy is recommended
Interim Budget 2019, presented on Feb 1, held a few good surprises for the farmer community and the salaried classes but was largely in line with market expectations. Markets, which had already ended January 2019 on a flat note (up 0.5% for the month), remained largely unaffected by the Budget announcements. Read the document to know more.
Indian Equity Markets (Nifty 50 Index) inched higher (+1.5%) during the month outperforming its emerging market peers.
New set of positive reforms by the government on domestic front and expectations of resolution of US-China trade war on
the global front were the major contributing factors which lifted sentiments.
Read the full document to know more.
Annual Equity Outlook 2022 | ICICI Prudential Mutual Fundiciciprumf
The current market scenario reminisces one of Shifting Sands wherein volatility may prevail due to dynamically changing macros. This warrants the need for active management. Hence, we recommend schemes that have flexibility to invest across different asset classes, Marketcap & Themes
Our ‘VCTS’ framework (Valuations, Cycle, Trigger, Sentiments) is currently indicating that market Valuations are not cheap. Business Cycle remains in the nascent stage.
Equity investing can be looked at only from a long term perspective coupled with “Dynamic Asset Allocation Scheme’ that aims to manage market volatility.
Indian equities ended a very volatile month of February down 1.1% from the previous month on account of the Interim Budget, a preemptive military strike by India, slow recovery in earnings growth over the last two quarters, buzz around general elections, and receding tensions between US and China.
Read the full document to know more.
Indian equity indices remained in the
positive terrain for the second consecutive month in October
2019, amid hopes of tax realignment on equities, foreign inflows
and upbeat global cues. The benchmark S&P BSE Sensex hit the
intraday record high of 40,392 on October 31, 2019. The S&P
BSE Sensex and Nifty 50 ended the month with around 4%
gains each.
Read the full document to know more.
"Sell in May and go away‟ this old Wall Street adage has once again proved correct for most of the Global Markets which have witnessed a correction in the month of May. However, Indian markets took no cue from the above saying and continued to chug along through the month ending in a positive territory
( 1.7%).
Read the full document to know more.
The Nifty 50 Index was up by 1.1%. The positive returns of the index hides the heightened volatility witnessed in the month
of April. This was reflected in India NSE volatility index which spiked by ~27%. The outcome of the ongoing general
elections, concerns around oil prices and global geo-political developments mainly weighed on the investor sentiments.
Read the full document to know more.
Government’s release of Rs 86.55 billion to certain
banks for preferential allotment of shares, hopes of more reform
measures by the government in the upcoming Budget, and
sustained inflows from the foreign institutional investors (FIIs)
augured well for the local indices.
Read the full document to know more.
Index Performance: Indian equity indices S&P BSE Sensex and Nifty 50 tanked 23% each in March 2020 due to worries about the rapid spread of Covid19 in the country and the government’s lockdown decision. The benchmark
indices also logged their biggest one-day fall on March 23 and hit their lower circuits twice in the month, triggering trading halts for 45 minutes.
Inflation: Retail inflation, based on Consumer Price Index (CPI), fell to 6.58% in February 2020 from a 68-month high of 7.59% in January, because of a decline in food prices and the base effect.
October 2018 saw the Indian markets tumble by about 5 per cent, in a month that saw heavy volatility in the equity markets owing to on-going concerns regarding weakening currency, rising crude oil prices, widening fiscal deficit, along with muted earnings performance and the liquidity crunch-woes in the NBFC sector.
Global Markets posted gains in the month of April cheering the fiscal stimulus measures of Global Central Banks along with flattening of COVID-19 infection curve. Indian Markets (Nifty 50 Index) too ended in positive territory with 14.7% returns. A rebound in oil prices, encouraging early results from COVID-19 treatment trial and expectations of further stimulus measures by the governments contributedto the global market gains.
On the domestic front, Indian equities corrected sharply post the FY20 Union Budget announcement on 5th July 2019 due to uncertainty emanating from a couple of proposals pertaining to: 1) Increase in taxes for FPIs accessing the Indian equity markets through the ‘Trust’ route; and 2) potential supply side pressures for equity markets (increase in free float requirement from 25% to 35% coupled with relaxation on minimum threshold of 51% Government ownership for PSUs including the shareholding of Government controlled institutions). Post the budget, equity and bond markets have witnessed divergent trends.
Read the full document to know more.
We believe that volatility is expected to prevail as the world comes to terms with the evolving COVID-19 situation & its economic fallout. Investors must embrace volatility & be cognizant of their asset allocation while invest.
Valuations are not cheap, Business Cycle remains in the nascent stage. We believe, the current macro-economic scenario is much more conducive for a Business Cycle Recovery due to Global and domestic policy response.
Indian equity benchmarks recorded
splendid performance in September 2019 and clocked their
biggest single-day jump in 10 years on September 20, 2019,
following the announcement of corporate tax cut and other
measures by the government to boost the economy.
Benchmark S&P BSE Sensex and Nifty 50 ended the month with nearly 4% gains.
Read the full document to know more.
• Owing to growth concerns, Global Central Banks are reducing interest rates. The Reserve Bank of India
(RBI) too is expected to follow suits and may deliver 25-50 bps rate cut
• Central Banks are expected to continue with the loose monetary policy
• Food inflation is beginning to see some moderation although CPI Inflation continues to remain above
RBI‟s comfort zone. RBI‟s operation twist and LTRO too bodes well for the bond markets
• In light of the above factors, we have added duration across our portfolios as we have become positive
on the duration segment in the near term
• We continue to believe that the best strategy would be to create portfolio maturity in the range of 2-5
years
• We also continue to remain positive on the accrual space, as the divergence between Gsec/AAA & AA/A
yields persist.
Triggers to watch out for:
1. Breaking down GDP Numbers
2. Equity Valuations Update
3. Why ICICI Prudential Accrual Funds
4. Investment Philosophy
Have a detailed insight into a monthly equity and fixed income market outlook.
Read the full document to know more.
This summer, gauge the temperature of global and domestic markets with ICICI Prudential Equity Market Update. Read on to get a thorough understanding of global and domestic equity market to help you navigate your equity investments.
#ICICIPrudentialMutualFund #Equity #Investments #MutualFunds
Global as well as domestic markets rallied during the month on back of upbeat economic data and positive sentiments. Hence we dig deeper into the nitty-gritties of markets in this Equity Market Update.
#ICICIPrudentialMutualFund #EquityMarketUpdate #Equity #Investment
ICICI Prudential Mutual Funds Fixed income updateiciciprumf
These are interesting times. We have seen the worst growth contraction in decades but interest rates still remains higher than lows seen during other crisis.
Does your portfolio have a blend of reasonable stability and potential growth?
Just as how a Sturdy Suspension and Powerful Engine together contribute to a smoother car ride, investing in a combination of Large and Mid cap stocks can offer the best of both worlds – Reasonable Stability + Potential Growth.
Know more: https://bit.ly/3UuS9x8
#ICICIPrudentialMutualFund #LargeCapFund #MidCapFund #MutualFunds #Investment
The rising sun of 2024 brings new hope for global markets! This sun shines a little brighter on the Indian economy as it gets off the tag of a 'fragile economy' to emerge as a robust one. The world economy is headed towards a 'Paradigm Shift' with India leading the way.
Explore this shift further with our Annual Outlook Report 2024!
#ICICIPrudentialMutualFund #AnnualOutlook #ETF
Equity Valuations Perspective | January 2024iciciprumf
Navigate Equity Markets better through our VCTS (Valuations, Cycle, Triggers and Sentiments) framework. The document below highlights the impact of various dynamic variables on the equity market across time periods. Read on to know more!”
#ICICIPrudentialMutualFund #Equity #Investments #MutualFunds
Stepping into 2024 with resilience and foresight!
New year has begun with a Paradigm Shift in trends of global and domestic macros.
While the global economies remain fragile, the Indian economy emerges as robust, defying the label of a fragile economy.
Explore the 2024 Outlook for insights on this Paradigm Shift!
#ICICIPrudentialMutualFund #MutualFunds #Investments #NewYear #2024
While there is some decline in China, there are positive market situations for India. What does that mean for an investor like you? See in December's Monthly Market Outlook here.
#ICICIPrudentialMutualFund #Investment #December2023 #MonthlyMarketOutlook #MutualFunds
Amidst global tensions, the global economies might be taking the strain but Indian economy continues the Goldilocks streak. Take a holistic view at what that might mean for you as an investor with the Monthly Market Outlook.
#ICICIPrudentialMutualFund #MonthlyMarketOutlook
ICICI Prudential Equity Valuation Index | Nov 2023 iciciprumf
Our latest Equity Valuation Index remains in the Neutral Index even after market corrections. But how do you smartly navigate through the market's volatility? Allocating your funds across different classes may help you. Have a look to understand better!
#ICICIPrudentialMutuaFund #Equity #EquityValuationIndex #Market #Investments
How can we prepare for the mood of the market? Use micro indicators for a comprehensive look at the market in this month's Market Outlook!
#ICICIPrudentialMutualFund #MonthlyMarketOutlook #October #Investment #MutualFunds
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Financial Assets: Debit vs Equity Securities.pptxWrito-Finance
financial assets represent claim for future benefit or cash. Financial assets are formed by establishing contracts between participants. These financial assets are used for collection of huge amounts of money for business purposes.
Two major Types: Debt Securities and Equity Securities.
Debt Securities are Also known as fixed-income securities or instruments. The type of assets is formed by establishing contracts between investor and issuer of the asset.
• The first type of Debit securities is BONDS. Bonds are issued by corporations and government (both local and national government).
• The second important type of Debit security is NOTES. Apart from similarities associated with notes and bonds, notes have shorter term maturity.
• The 3rd important type of Debit security is TRESURY BILLS. These securities have short-term ranging from three months, six months, and one year. Issuer of such securities are governments.
• Above discussed debit securities are mostly issued by governments and corporations. CERTIFICATE OF DEPOSITS CDs are issued by Banks and Financial Institutions. Risk factor associated with CDs gets reduced when issued by reputable institutions or Banks.
Following are the risk attached with debt securities: Credit risk, interest rate risk and currency risk
There are no fixed maturity dates in such securities, and asset’s value is determined by company’s performance. There are two major types of equity securities: common stock and preferred stock.
Common Stock: These are simple equity securities and bear no complexities which the preferred stock bears. Holders of such securities or instrument have the voting rights when it comes to select the company’s board of director or the business decisions to be made.
Preferred Stock: Preferred stocks are sometime referred to as hybrid securities, because it contains elements of both debit security and equity security. Preferred stock confers ownership rights to security holder that is why it is equity instrument
<a href="https://www.writofinance.com/equity-securities-features-types-risk/" >Equity securities </a> as a whole is used for capital funding for companies. Companies have multiple expenses to cover. Potential growth of company is required in competitive market. So, these securities are used for capital generation, and then uses it for company’s growth.
Concluding remarks
Both are employed in business. Businesses are often established through debit securities, then what is the need for equity securities. Companies have to cover multiple expenses and expansion of business. They can also use equity instruments for repayment of debits. So, there are multiple uses for securities. As an investor, you need tools for analysis. Investment decisions are made by carefully analyzing the market. For better analysis of the stock market, investors often employ financial analysis of companies.
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
What website can I sell pi coins securely.DOT TECH
Currently there are no website or exchange that allow buying or selling of pi coins..
But you can still easily sell pi coins, by reselling it to exchanges/crypto whales interested in holding thousands of pi coins before the mainnet launch.
Who is a pi merchant?
A pi merchant is someone who buys pi coins from miners and resell to these crypto whales and holders of pi..
This is because pi network is not doing any pre-sale. The only way exchanges can get pi is by buying from miners and pi merchants stands in between the miners and the exchanges.
How can I sell my pi coins?
Selling pi coins is really easy, but first you need to migrate to mainnet wallet before you can do that. I will leave the telegram contact of my personal pi merchant to trade with.
Tele-gram.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
BONKMILLON Unleashes Its Bonkers Potential on Solana.pdfcoingabbar
Introducing BONKMILLON - The Most Bonkers Meme Coin Yet
Let's be real for a second – the world of meme coins can feel like a bit of a circus at times. Every other day, there's a new token promising to take you "to the moon" or offering some groundbreaking utility that'll change the game forever. But how many of them actually deliver on that hype?
1. March 2020
Global Markets Jan-20
(%)
Current
PE
10 Yr
Average
US (10.1) 18.0 15.7
UK (9.7) 19.0 17.5
Japan (8.9) 18.8 19.9
Hong Kong (0.7) 11.0 10.9
Singapore (4.5) 11.1 12.2
China 0.6 8.4 8.6
Domestic Markets Jan - 20
(%)
Current
PE
10 Yr
Average
S&P BSE Sensex (6.0) 23.8 20.1
NSE Nifty (6.4) 22.2 20.3
S&P BSE Auto (14.3) 24.5 18.6
S&P BSE Bankex (5.3) 28.7 17.3
S&P BSE Capital Goods (11.8) 22.8 28.6
S&P BSE Consumer
Durables 0.0 46.2 30.4
S&P BSE FMCG (5.8) 30.5 39.2
S&P BSE Healthcare (3.4) 29.5 28.4
S&P BSE IT (5.6) 19.1 19.7
S&P BSE Metals (13.2) 7.9 12.3
S&P BSE Mid Cap (5.6) 29.3 23.8
S&P BSE Oil & Gas (9.4) 9.5 12.1
S&P BSE PSU (10.5) 10.4 13.3
S&P BSE Realty (15.9) 27.8 24.1
US Economy: US economy grew by 2.1% in the fourth quarter of
2019. The economy grew 2.3% - slowest annual growth in three
years.
Eurozone: Eurozone’s gross domestic product (GDP) growth
slowed to 0.1% in the fourth quarter of 2019 compared with 0.3%
expansion in the July to September quarter.
UK: The UK economy expanded 1.1% annually in the fourth quarter
of 2019 compared with 1.2% in the third quarter amid political
uncertainty over Brexit and a snap general election.
Japan: Japan’s economic shrank at the fastest pace in almost six
years in the December 2019 quarter, as a sales tax hike and a soft
global demand affected consumption and capital expenditure. The
country’s GDP fell an annualised 6.3% in the October to December
period, compared with a revised 0.5% gain in July to September.
China: The People’s Bank of China injected 1.2 trillion yuan ($173.81
billion) into money markets through reverse bond repurchase
agreements to reduce the economic shock from a coronavirus
outbreak that has severely disrupted business activity. The central
bank also reduced the interest rate on 200 billion yuan ($28.65
billion)-worth of one-year medium-term lending facility loans to
financial institutions by 10 basis points to 3.15% from 3.25%. It
slashed the one-year loan prime rate to 4.05% from 4.15% as well,
and the five-year rate to 4.75% from 4.80%.
Index Performance: Indian equity indices continued the
downtrend for the second consecutive month in February 2020.
The S&P BSE Sensex and Nifty 50 plunged 6% each, tracking
global selloff amid rising concerns over spread of the
coronavirus epidemic outside China.
Inflation: Retail inflation, based on Consumer Price Index (CPI),
surged to a 68-month high of 7.59% in January 2020, up from
7.35% in December 2019. This was the second consecutive
month retail inflation breached the upper limit of the RBI’s 2-6%
inflation target band, and the sixth straight month it rose.
Domestic Developments:
Tailwinds: The government’s approval of Rs 44.60 billion for
dairy farming and changes to the crop insurance scheme too
augured well for the market. Strong inflows from domestic
institutional investors and foreign institutional investors also
boosted sentiments.
Headwinds:
Market started the month on a disappointing note after the
Union Budget 2020-21 announcements failed to meet investor
expectations.
More losses followed after the Supreme Court ordered
telecom players to clear dues by March 17, 2020.
EQUITY UPDATE
Data Source: Crisil Research; * Data till Feb 29, 2020;
Data Source: Crisil Research; * Data till Feb 29, 2020, PE- Price to
Earnings
Indian Market Update
Global Market Update
2. Indian Market Update
Earnings Growth
(%)
FY19 FY20E FY21E
Sensex 20.9 23.8 18.8
Macro Indicators Latest
Update
Previous
Update
GDP (YoY%) 4.7%
(3QFY20)
4.5%
(2QFY20)
IIP (YoY%) -0.3% (Dec) 1.8% (Nov)
Crude ($ bbl) 50.52 (Feb 28) 58.16 (Jan 31)
Core Sector Growth
(YoY%)
2.2
(Jan 2020)
1.3
(Dec 2019)
Trade Deficit ($ mn) -15,170
(Jan 2020)
-11,250
(Dec 2019)
Current Account
Deficit ($ bn)
-6.3
(2QFY20)
-14.3
(1QFY20)
FII Holding in Indian
Equities (%)#
22.2
(3QFY20)
22.0
(2QFY20)
Flows Feb - 20 Jan - 20 Dec -19
FIIs (Net Purchases
/ Sales) (Rs cr)
1,820 12,123 7,338
MFs (Net Purchases
/ Sales) (Rs cr)
4,739 1,384 2,746
Note: # FII hldg includes ADR/GDR (BSE500 Index); Data Source: Crisil Research; * Data till Feb 29, 2020; CAD: Current Account Deficit; GDP: Gross
Domestic Product, IIP: India Industrial Production FII: Foreign Institutional Investors; MF-Mutual Fund; E- Estimate
Outlook & Triggers
Taking cues from Global Markets, the Indian Equity Markets (Nifty 50 Index) ended the month on a negative note (-6.4%). Increasing
concerns of COVID-19 and its impact on global growth led to the fall in equity markets globally. A sharp sell-off was witnessed in the last
few days of the month when The World Health Organization (WHO) acknowledged and assessed the risk from COVID-19 to very high
from high.(Source: WHO website) The coronavirus scare led to weaker exports and imports setting a negative tone for Indian Markets.
On the domestic front, there were a series of data releases. India’s Q3 FY20 GDP data came in at 4.7% YoY above consensus estimates
of 4.5%. GDP estimate for FY20E was maintained at 5% by the NSO. CPI inflation rose to 7.6% in January from 7.4% in December on the
back of high food inflation. IIP contracted to -0.3% in December from 1.8% in November. Composite PMI data increased to 56.3 from
53.7 in December led by improvement in both manufacturing and services PMI.
Sectors like telecom and consumer staples did well while auto and realty underperformed. (Source: NSE)
We believe that the divergence between Value and Growth stocks continues to prevail with select Megacaps in the bubble zone and
Value stocks trading at attractive valuations. Such diverging trends, historically too, have provided good investment opportunities for
long term wealth creation. Few examples of such diverging trends include IT sector in 2000, Infra/Realty sector in 2007 and
Small/Midcaps at the end of 2017. In current markets we believe Value theme provides one such opportunity where few fundamentally
sound value stocks are available at inexpensive valuations, provide good dividend yield and have better earnings visibility. Hence, we
recommend investors to take exposure in schemes with value bias.
Having said that, we believe, volatility is a factor which is inherent in equity as an asset class and the recent developments around
coronavirus highlights this point clearly. Factors such as volatility and the impact of global, domestic, sectoral or company specific
events on equities have to be kept in mind while investing in this asset class. Hence, a higher risk premium required for equity
investments. As an investor, one must embrace volatility and be cognizant of their own asset allocation while investing.
We continue to recommend Dynamic Asset Allocation schemes which aim to benefit from volatility by reducing the overall cyclicality of
the portfolio. For investors who aim to benefit from divergence between growth and value stocks, we recommend investing in Value and
Special Situation schemes. Small, midcaps and value oriented stocks over the next few years is recommended for lumpsum investment
for patient long term investors
*The sector(s)/stock(s) mentioned in this communication do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may not have any future position in these sector(s)
Lacklustre corporate earnings, selling in some index
heavyweights and volatility amid the expiry of February
futures and options contract also weighed on the indices.
Global Developments:
Tailwinds: Gains were seen following a decline in global crude oil
prices and intermittent gains in global equities markets, amid
China's efforts to cushion the financial blow of the recent virus
outbreak and the Federal chief’s optimistic view on the United
States economy.
Headwinds: Sentiments were jittery, in line with global equities
on persistent worries over the impact of the coronavirus
outbreak on the global economic growth after a spike in the
number of new cases outside China.
Sectoral Impact:
S&P BSE sectoral indices fell sharply in February 2020. The S&P
BSE Realty index was the top sectoral laggard, plummeted
~16% after no measures were announced in the budget to
revive the real estate sector. Heavy sell-off was seen in auto
and capital goods stocks. The S&P BSE Auto index and S&P BSE
Capital Goods index declined around 14% and 12%,
respectively. The S&P BSE Metal index fell ~13% amid fears of
a large economic fallout of the coronavirus outbreak. The S&P
BSE Consumer Durables index was the only sectoral gainer – up
0.02% in the month.Data Source: CRISIL
3. Equity valuation index is calculated by assigning equal weights to Price to Earnings (PE), Price to book (PB), G-Sec*PE and
Market Cap to Gross Domestic Product (GDP)
Our Recommendation
Our Recommendations – Equity Schemes
Pure Equity
Schemes
ICICI Prudential Bluechip Fund
ICICI Prudential Multicap Fund
These Schemes aim to generate capital appreciation
through participation in equities.
Long-Term SIP
Schemes
ICICI Prudential Value Discovery Fund
ICICI Prudential Smallcap Fund
ICICI Prudential Midcap Fund
ICICI Prudential Large & Mid Cap Fund
ICICI Prudential India Opportunities Fund
These schemes aim to generate long term wealth
creation over a full market cycle.
Asset
Allocation
Schemes
ICICI Prudential Balanced Advantage Fund
ICICI Prudential Equity & Debt Fund
ICICI Prudential Multi-Asset Fund
ICICI Prudential Equity Savings Fund
ICICI Prudential Regular Savings Fund
ICICI Prudential Asset Allocator Fund (FOF)
These schemes aim to benefit from volatility and can be
suitable for investors aiming to participate in equities
with low volatility.
None of the aforesaid recommendations are based on any assumptions. These are purely for reference and the investors are requested to consult their
financial advisors.
50
70
90
110
130
150
170
Feb-06
Feb-07
Feb-08
Feb-09
Feb-10
Feb-11
Feb-12
Feb-13
Feb-14
Feb-15
Feb-16
Feb-17
Feb-18
Feb-19
Feb-20
Invest in Equities
Aggressively invest in Equities
Neutral
Incremental Money to Debt
Book Partial Profits
103.15
Equity Valuation Index
4. ICICI Prudential Bluechip Fund is suitable for investors who are seeking*(An open ended equity
scheme predominantly investing in large cap stocks):
Long term wealth creation
An open ended equity scheme predominantly investing in large cap stocks.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Large & Mid Cap Fund is suitable for investors who are seeking**(An open ended
equity scheme investing in both large cap and mid cap stocks):
Long term wealth creation
An open ended equity scheme investing in both large cap and mid cap stocks
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Value Discovery Fund is suitable for investors who are seeking*( An open ended
equity scheme following a value investment strategy):
Long term wealth creation
An open ended equity scheme following a value investment strategy.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Equity & Debt Fund is suitable for investors who are seeking*(An open ended hybrid
scheme investing predominantly in equity and equity related instruments):
Long term wealth creation solution
A balanced fund aiming for long term capital appreciation and current income by investing in
equity as well as fixed income securities.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Balanced Advantage Fund is suitable for investors who are seeking*(An open ended
dynamic asset allocation fund):
Long term wealth creation solution
An equity fund that aims for growth by investing in equity and derivatives.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Multicap Fund is suitable for investors who are seeking*(An open ended equity
scheme investing across large cap, mid cap, small cap stocks):
Long term wealth creation
An open ended equity scheme investing across largecap, mid cap and small cap stocks.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Equity Savings Fund is suitable for investors who are seeking*(An open ended
scheme investing in equity, arbitrage and debt):
Long term wealth creation
An Open ended scheme that seeks to generate regular income through investments in fixed
income securities, arbitrage and other derivative strategies and aim for long term capital
appreciation by investing in equity and equity related instruments.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Multi-Asset Fund is suitable for investors who are seeking*(An open ended scheme
investing in Equity, Debt, Gold/Gold ETF/units of REITs & InvITs and other asset classes as may be
permitted from time to time):
• Long term wealth creation
• An open ended scheme investing across asset classes.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
Riskometers
5. ICICI Prudential Regular Savings Fund is suitable for investors who are seeking*(An open ended
hybrid scheme investing predominantly in debt instruments):
Medium to Long term regular income solution
A hybrid fund that aims to generate regular income through investments primarily in debt
and money market instruments and long term capital appreciation by investing a portion in
equity.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Midcap Fund is suitable for investors who are seeking*(An open ended equity
scheme predominantly investing in mid cap stocks):
Long term wealth creation
An open-ended equity scheme that aims for capital appreciation by investing in diversified
mid cap companies.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Smallcap Fund is suitable for investors who are seeking*(An open ended equity
scheme predominantly investing in small cap stocks):
Long term wealth creation
An open ended equity scheme that seeks to generate capital appreciation by predominantly
investing in equity and equity related securities of small cap companies.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential Asset Allocator Fund (FOF) is suitable for investors who are seeking*(An open ended
fund of funds scheme investing in equity oriented schemes, debt oriented schemes and gold
ETFs/schemes) *Investors may please note that they will be bearing the recurring expenses of this Scheme in addition to the
expenses of the underlying Schemes in which this Scheme makes investment.:
Long Term Wealth Creation
An open ended fund of funds scheme investing in equity oriented schemes, debt oriented
schemes and gold ETFs/ schemes.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
ICICI Prudential India Opportunities Fund is suitable for investors who are seeking*(An open ended
equity scheme following special situation theme):
Long Term Wealth Creation
An equity scheme that invests in stocks based on special situations theme.
*Investors should consult their financial advisers if in doubt about whether the product is suitable for
them.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
In preparation of the material contained in this document, ICICI Prudential Asset Management Company Limited (the AMC) has used
information that is publicly available, including information developed in-house. Some of the material used in the document may
have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made available to the
AMC and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The
AMC, however, does not warrant the accuracy, reasonableness and / or completeness of any information. We have included
statements / opinions / recommendations in this document, which contain words, or phrases such as “will”, “expect”, “should”,
“believe” and similar expressions or variations of such expressions that are “forward looking statements”. Actual results may differ
materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations
with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries
globally, which have an impact on our services and / or investments, the monetary and interest policies of India, inflation, deflation,
unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices etc. The AMC (including its
affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not be liable for any loss,
damage of any nature, including but not limited to direct, indirect, punitive, special, exemplary, consequential, as also any loss of
profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any
decision taken on this material. All figures and other data given in this document are dated and the same may or may not be
relevant in future. The information contained herein should not be construed as a forecast or promise nor should it be considered
as an investment advice. Investors are advised to consult their own legal, tax and financial advisors to determine possible tax, legal
and other financial implication or consequence of subscribing to the units of ICICI Prudential Mutual Fund. The sector(s)/stock(s)
mentioned in this communication do not constitute any recommendation of the same and ICICI Prudential Mutual Fund may or may
not have any future position in these sector(s)/stock(s). Past performance may or may not be sustained in the future. The portfolio
of the scheme is subject to changes within the provisions of the Scheme Information document of the scheme. Please refer to the
SID for more details.
The information contained herein is only for the purpose of information and not for distribution and do not constitute an offer to
buy or sell or solicitation of any offer to buy or sell any securities or financial instruments in the United States of America ("US")
and/or Canada or for the benefit of US persons (being persons falling within the definition of the term "US Person" under the US
Securities Act, 1933, as amended) or persons residing in Canada.
Disclaimer