Weekly News 27th Mar 2023

1. Weekly
News
27th Mar 2023
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)

2. Snapshot
Indian banks have enough
buffer to withstand SVB, CS
fallout: S&P
Finance Bill removes tax
benefit given to debt MFs
US Fed raises rates by
quarter point
0
1
0
2
0
3
0
4
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)
Weekly Market News
0
5
New Scheme Launched
0
6
Other News

3. Weekly Market News
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)
Index
% Change
(Last Week)
% Change
(Last 1 Yr)
Nifty 50 +0.26% -0.70%
Nifty Midcap 150 -1.03% +1.70%
Nifty Small Cap 250 -1.74% -7.34%
Nifty IT -1.40% -22.42%
Nifty Bank +0.38% +11.58%
Nifty Pharma -0.07% -12.59%
Nasdaq 100 +2.24% -14.81%
S&P 500 +1.37% -13.21%
Dow Jones +1.15% -7.78%

4. Indian banks have enough buffer to withstand SVB, CS fallout:
S&P
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)
 Indian banks and rated finance companies can endure potential contagion effects
from the demise of Silicon Valley Bank (SVB) and UBS’ hasty takeover of Credit
Suisse AG, according to S&P Global Ratings.
 The global credit rating agency noted that Indian institutions have no meaningful direct exposure to
SVB, Signature Bank and Credit Suisse.
 S&P observed that strong funding profiles, a high savings rate and government support are among the
factors that bolster the financial institutions it rates.
 Brokerage firm Jefferies, in a report said, the Additional Tier (AT)-1 bond market has polarised towards
large/ quality banks post the writedown of these bonds aggregating ₹8,415 crore by YES Bank in the
fourth quarter of FY20.

5. Finance Bill removes tax benefit given to debt MFs
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)
 The Finance Minister on Friday moved an amendment to the Finance Bill 2023, taking away the long-
term capital gains taxation benefits for investments in debt mutual funds.
 Gains on all investments made on or after April 1, 2023, in specified debt MFs will only be treated as
short-term capital gains and will not be entitled for concessional tax rate of 20 per cent with indexation
benefits, if held for over three years.
 The capital gains from debt funds, international funds, fund of funds and gold funds, irrespective of their
holding period, will be taxed at an individual’s relevant tax slab.
 The new regime will apply on specified MFs where not more than 35 per cent of the corpus is invested
in equity shares of domestic companies.

6. US Fed raises rates by quarter point despite banking sector
crisis
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)
 The US Federal Reserve on March 22 announced a quarter point-hike in interest rates, refusing to
lower guard on a persistently high inflation.
 The Fed increased its funds target rate to a range of 4.75-5 percent, a level last seen prior to the 2007-
08 global financial crisis.
 Fed policymakers projected rates would end 2023 at about 5.1 percent, unchanged from their median
estimate from the last round of forecasts in December.
 The median 2024 projection rose to 4.3 percent from 4.1 percent.

7. New Schemes Launched
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)
 Axis S&P 500 ETF Fund of Fund –
 The scheme seeks to replicate the performance of the S&P 500 TRI by investing in Exchange
Traded Funds replicating S&P 500 TRI.
 NFO launched on 22-Mar-2023 & will close on 05-Apr-2023 .
 Quant Dynamic Asset Allocation Fund –
 The primary investment objective of the scheme is to provide capital appreciation by investing in
equity and equity related instruments including derivatives and debt and money market
instruments.
 NFO launched open on 23-Mar-2023 & will close on 06-Apr-2023.

8. Other News
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)
 HDFC Mutual Fund files for India’s first Sovereign Green Bond MF.
 Securities transaction tax hiked by 25% on futures and options.
 IndiaFirst Life Insurance gets SEBI approval to float IPO.
 Karnataka has approved an ₹8,000 crore ($967.91 million) investment in the State by a unit of
Taiwan’s Foxconn.
 Congress leader Rahul Gandhi was disqualified from the Lok Sabha on Friday.

9. Share it with your friends
Any Enquiries, Contact us
info@finatoz.com
+91 9916055544
www.finatoz.com
© RightFocus Investments Pvt. Ltd.
SEBI Registered Investment Adviser (INA200006628)