Daily Groww Digest 31 August 2023 --------------------- | Groww Digest
Daily Groww Digest
31 August 2023
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Sensex 64,831.41 ▼ 0.39%
Nifty 19,253.80 ▼ 0.48%
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PSU bank and oil & gas stocks fell the most today.
Consumer durables and realty stocks rose.
All Asian markets except Japan fell.
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More...
+India’s GDP grew by 7.8% in April-June vs 6.1% in Jan-March quarter.
+The revised PLI scheme for IT hardware has received response from 38 companies, including HP, Dell, Lenovo, Foxconn, and Dixon Technologies.
+Rishabh Instruments IPO has been subscribed 2.46 times so far. Retail investors have subscribed 2.79 times. The IPO is open till 1 Sept.
+India’s fiscal deficit (government’s spending - earning) stood at Rs 6.06 lakh cr (33.9% of the annual target).
+India's 8 core sectors grew 8% in July vs 8.2% in June.
+The government has raised the price of domestic natural gas to $8.60 per mmBtu for Sept vs $7.85 per mmBtu in Aug.
+Meesho’s valuation has been increased by around 14% by the U.S.-based investor Fidelity Investments.
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Stocks in the news
Adani Group: rejected the allegations made in the OCCRP report.
Reliance: Jio Financial Services will be removed from BSE Indices on 1 Sept.
Indian Bank: planning to raise up to Rs 4,000 cr.
Kotak Mahindra Bank: announced the introduction of UPI feature on its Digital Rupee (e₹) app.
Indian Oil: planning to increase its natural gas consumption 2.5x by 2030.
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Word of the Day
SEBI
SEBI, the Securities and Exchange Board of India, sets rules, catches rule-breakers, and takes actions like fines or bans to protect investors.
It was created in 1988 to keep an eye on the stock market and ensure fairness.
Its core functions include -
-maintaining transparency and fairness within the market,
-ensuring companies provide accurate and complete information to investors, -preventing fraudulent activities.
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6 Day Course
Theme: mutual fund companies
Day 4: Thursday
The main business model of mutual fund companies revolves around fees.
They earn money by charging a small fee from investors. This fee is called expense ratio.
Investors need not pay it separately. It is a part of every mutual fund and is automatically deducted.
The mutual fund returns you see and get is after the deduction happens.
So whatever returns you are seeing are final — you are getting the returns you are seeing.
This is how mutual fund company’s interests are aligned with investors' interests — the higher the returns the investor gets, the higher their earnings.
Missed last week's course? You can download the course PDF - click to download: https://bit.ly/3YOLJsU
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Featured Question
“Where does the money go when you make a loss in the stock market?”
Think of it from the perspective of buying a house.
You bought a house for Rs 50 lakh. If you sell it for Rs 40 lakh, where did the Rs 10 lakh go?
The value of the house reduced. That’s all.
Similarly, let’s say you bought share worth Rs 5,000. Today, its price is Rs 3,000.
That’s the price available in the market. The value of the shares has reduced.
The buyers who are in the market are not wiling to pay a higher price.
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That's it for now. See you tomorrow!
