#Ai #ALLiESFiN

Selling pressure in Small and Midcap stocks
observations only by @AlliesFin

SEBI has asked Mutual Funds for disclosure of risk measures taken by them, in case of market correction. It appears huge investment has been done by MF (almost to the tune of 100%) in Small and Midcap Funds, obviously due to huge flow of money from investors. Some MFs have stopped accepting lumpsum investment into Small and Midcap funds. There is no restriction on MFs to invest in these funds. They need not keep cash. However steep rally has caused concern as to how these funds will cope up in case of market crash.

Sensex plunges 800 points, smallcaps bleed most. 6 factors behind Rs 6 lakh crore crash

Just ahead of the monthly derivative expiry, Nifty gave up its hold over the 22,000 level while Sensex fell around 800 points or 1% to the day's low at 72,300 on Wednesday. The sell-off was deeper in the broader market where midcaps, smallcaps and microcap indices fell around 2% each. In the process, Dalal Street investors were left poorer by about Rs 6 lakh crore as the market capitalisation of all BSE-listed stocks fell to Rs 386 lakh crore

"Market is likely to be in a range-bound zone in the near term. FIIs have sharply reduced their selling this month and have turned buyers to the tune of Rs 872 crore in the cash market, so far in February, despite the high US bond yields. This indicates that FIIs are unlikely to press big selling pulling the market sharply down," said Dr. V K Vijayakumar of Geojit Financial Services.

1) Sebi plunges into action
In the context of froth building up in small and midcap segments of the market and the continuing flows in the small and midcap schemes, markets regulator Sebi has asked mutual fund houses to put in place a policy to protect the interest of all investors. Suggested measures include moderating inflows, portfolio rebalancing, etc.

Industry association AMFI said AMCs have also been asked to ensure that investors are protected from the first mover advantage of redeeming investors.

2) Fading hopes from Fed
Traders are waiting for the release of US' personal consumption expenditures price index (PCE) data for January, which could influence Fed rate hikes. Hopes of a rate cut in the June meeting has reduced to 59%, according to the CME Group's FedWatch tool.

3) Valuations
With the market cap-to-GDP ratio zooming above 120%, investors have been finding little comfort in valuations, more so in the broader market. After the end of the December quarter earnings season, expectations for FY25 have not moved much on aggregate.

4) Global markets
MSCI's broadest index of Asia-Pacific shares outside Japan was 0.44% lower at 525.40 points but hovering around a near seven-month peak of 531.56 after a strong rally. Japan’s benchmark Nikkei 225 edged 0.3% lower, Hang Seng in Hong Kong slipped 1.4%, while the Shanghai Composite sank 1.9%.

5) Expiry pressure
A part of the volatility in the market today is also attributed to the monthly F&O expiry tommorrow.

For February monthly series, 22,200 call has significant open interest, followed by 22,300 strikes. On the put side, 22,200 has significant open interest, followed by 22,100 strike implying the zone of 22,140-22,120 will act as immediate support for the index. While, on the upside the level of 22,270 will act as immediate resistance for the index," SBI Securities said.

6) Profit booking
The two contrasting themes of buy the dip and sell the rise has been dominating the market mood in recent weeks. While valuations are supporting the case for booking profits, retail-led flush of money is protecting the downside.

Special Trading Session: @AlliesFin

Saturday, 2nd March 2024,

Session 1:-

9.15 am to 10.00 am

Session 2:-

11.30 am to 12.30 pm

*NSE Indices - Replacements on account of semi-annual review of Indices*

*Nifty*
Excluded: UPL
Included: SHRIRAMFIN

*Nifty Next 50* & *Nifty 100*
Excluded: AWL, MUTHOOTFIN, PIIND, PGHH, SHRIRAMFIN
Included: ADANIPOWER, IRFC, JIOFIN, PFC, REC

Full List available at:
https://nsearchives.nseindia.com/web/sites/default/files/2024-02/ind_prs28022024.pdf

INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 28-02-2024 :

*FIIS F & O : RS. CRS. :*

*TOTAL NET SELL : -31597* 😭

*INDEX FUT. : -242*

*INDEX OPT. : -31106*

*STOCK FUT. : -635*

*STOCK OPT. : +387*


*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 28-FEB-2024 :*

*FIIS : SELL -1,879 (11,059-12,938)* 😥

*DIIS : BUY +1,827 (10,125-8,298)* 😃

*BSE SENSEX : -790 (72,305)🔽*

*NSE NIFTY : -247 (21,951)🔽*

*BSE MIDCAP. -724 (39,019)*🔽

*BSE SMLCAP. : -890 (44,998)*🔽

*B. CRUDE : $ 82.69* 🔼☺️

*GOLD: $ 2,032=INR 61,470(10gr)*↔️😳

*SILVER : RS. 73,900 (kg)(5pm)*🔽☺️

*FOREX : RS. $ 82.93 🔽 ☺️*

*7.18% GOI '33: 7.0663%(100.77)🔽🙂*

*7.18% GOI '37: 7.1230% (100.4775)↔️😳*

*News Headlines from Business News Agencies :*

*Business Standard :*

📝 India's oil imports from Russia threatened after US imposes new sanctions

📝 ISO raises forecast for size of global sugar deficit for current season

📝 Bitcoin rises 39.7% in Feb, heads for biggest monthly gain since Dec 2020

📝 India to see highest rise in number of ultra-rich in 5 years: Knight Frank

📝 Tech Mahindra, Pegatron ink MoU to develop AI-enabled private 5G networks

📝 Vehicles with Apple's next-generation CarPlay system set to arrive in 2024

📝 Steelmakers look to startups in decarbonisation, sustainability journey

📝 LTIMindtree joins IBM Quantum Network to explore quantum computing

📝 Takeda injects hope: Dengue vaccine clinical trials set to begin in India

📝 Reliance Capital to be delisted from stock exchanges

📝 Juniper Hotels lists at Rs 365 against issue price of Rs 360

📝 Thyrocare completes acquisition of Think Health

*Economic Times :*

📝 Bandhan Mutual Fund files draft document for Nifty Midcap 150 Index Fund

📝 Abu Dhabi sovereign fund to invest space tech, AI this year

📝 Hyperautomation platform Zvolv secures $2 million in funding from Silverneedle, JSW Ventures

📝 Thrasio files for Chapter 11 in bid to restructure its debt

📝 Eli Lilly could launch obesity drug in India next year, CEO says

📝 Lighthouse Funds invests Rs 284 crore in jewellery brand Kushal’s

📝 Domestic manufacturing of semiconductors is the next big space: MeitY Secy

📝 Zerodha’s Rainmatter invests Rs 12 crore in foodtech startup TWF Flours

📝 Top India airlines optimistic on deliveries despite supply woes

📝 Russia diverts LNG supplies for Asia around Africa to avoid Red Sea, LSEG data shows

📝 India’s position unchanged at 42 on International IP Index 2024


*Mint :*

📝 SpiceJet settles ₹235 crore legal dispute with AerCap arm Celestial Aviation

📝 PayU Payments appoints former HDFC chief Renu Sud Karnad as new Chairperson

📝 India's coal imports to fall for first time since pandemic amid high stockpiles

📝 India is a top investment priority for Ikea, says Ingka CEO Jesper Brodin

📝 CarDekho Group’s Rupyy eyes bigger pie of used car financing market

📝 EaseMyTrip partners with Zaggle to streamline expense management solutions

📝 Sony cuts 900 jobs in PlayStation units, shuts London Studio amid challenges

📝 Hospitality growth story in India to remain strong: Marriott's Rajeev Menon

📝 Zee sets up panel to probe regulator’s allegations against company, promoters

📝 Bitcoin surpasses $59,000 mark, highest level since Dec 2021

📝 OpenAI files motion to dismiss New York Times lawsuit

📝 Taxman to step aside for banks in bankruptcy waterfall

🇮🇳India Daybook Stocks in News


*Salasar Techno:* Company secures order worth Rs 200 crore for supply of solar structures. (Positive)

*Coal India/BHEL:* Company signs a joint venture agreement with BHEL to undertake coal to chemicals business (Positive)

*Alkem:* US FDA issues Establishment Inspection Report for Mandva’s API manufacturing facility (Positive)

*Reliance:* Company and Disney announce strategic joint venture (Positive)

*Venus Pipes:* Company forays into fittings business, approves ₹175 crore capex via warrants, debt. (Positive)

*MRPL:* Petroleum Ministry approves appointment of Mundkur Shyamprasad Kamath as MD of MRPL (Positive)

*NTPC:* Arm signs a joint venture agreement with Maharashtra State Power Generation Co for development of renewable energy parks in Maharashtra (Positive)

*JTKET:* Approves Capacity Expansion of CVJ Line Constant Velocity Joint (Positive)

*Juniper Hotels:* Government Pension Fund Global bought 21,77,724 Shares. (Positive)

*PB Fintech:* IRDAI Grants Registration Certificate to Policy bazaar Insurance to Act as Composite Insurance Broker (Positive)

*Jubilant FoodWorks:* Shares of arm DP Eurasia NV delisted from London Stock Exchange (Neutral)

*Oil India:* Company to consider second interim dividend for FY24 on March 8 (Neutral)

*KSB Limited:* Net Profit down 1.8% at ₹54.9 cr vs ₹55.9 cr, Revenue up 14.9% at ₹602.6 cr vs ₹524.6 cr (YoY). (Neutral)

*ICICI Securities:* SEBI has issued an administrative warning to co (Neutral)

*JSW Steel:* Company incorporates wholly-owned unit JSW Green Steel. (Neutral)

*Reliance* Retail: Arm Reliance Consumer Products in partnership with Sri Lankan beverage brand Elephant House (Neutral)

*Emami:* Company invests Rs 1.95 crore in associate company Cannis Lupus Services (Neutral)

*Linde India:* Company invests Rs 41.09 crore in Zenataris Renewable Energy (Neutral)

*ICICI Sec:* SEBI issues administrative warning to ICICI Securities for merchant banking activities (Neutral)

*Shriram Finance/UPL:* NSE announces inclusion of Shriram Finance in Nifty50 & exclusion of UPL effective March 28, 2024 (Neutral)

*Jio Finance/Adani Power/IRFC/PFC/REC:* Companies to be included in Nifty Next 50 (Neutral)

*PGHH/AWL/Muthoot/PI Ind:* Companies to be excluded in Nifty Next 50 (Neutral)

*Advance Enzymes:* Judgment of Rs 15.2 Crores was issued against the company’s subsidiary (Neutral)

*Spandana:* Board meet on 4-March (Coming Monday) to consider fund raising via NCDs (Neutral)

*PSB:* Bank to raise up to ₹2,000 crore via public issue/ rights issue/ qips or any other mode. (Neutral)

*PFC:* Board meet to consider market borrowing programme for FY’25 (Neutral)

*Reliance Capital:* Company to be delisted from stock exchanges, as per Hinduja's resolution plan: ET Sources

*JB Pharma:* KKR said to mull selling stake in JB Pharma

*SEBI ON SMALL AND MIDCAP*

Many small-cap and mid-cap funds may restrict SIP and lumpsum investments.

They may also limit how much you can withdraw.

Reason for all this?

SEBI wants fund houses to stay alert amid crazy inflows to small-cap schemes.

What exactly has happened?

SEBI has acknowledged that there's froth building up in the mid and small-cap space.

So, it has asked all fund houses to develop policies in the next 21 days to protect investors.

Here are some proactive steps that SEBI has suggested. 👇

1. MODERATE INFLOWS

SEBI has asked fund houses to limit inflows into their schemes.

There are many ways to do it.

Fund houses can cap how much you can invest through SIP or lumpsum.

They can also stop taking fresh inflows.

Depending on the size of a scheme, you will see different fund houses taking different approaches.

In the past, many fund houses have done it.

Examples include SBI Small Cap, Mirae Asset Emerging Bluechip, etc.

2. REBALANCE PORTFOLIOS

SEBI has asked fund houses to “rebalance” their portfolios to ensure investors don’t see the ugly side of redemption pressure.

So, schemes may increase exposure to large-cap stocks and maintain higher cash to meet redemption requests.

3. PROTECT INVESTORS FROM EARLY REDEMPTIONS

In a market downturn, if too many investors start to redeem their investments, it may force fund managers to sell investments in distress.

And it can impact other investors.

So, SEBI wants fund houses to avoid such situations.

What can fund houses do?

They may limit how much one can redeem during a specific period.

This will ensure there’s no sudden mad rush to withdraw.

Of course, different fund houses will come up with different approaches.

Zerodha founder Nithin Kamath had to be hospitalised recently, after suffering a mild stroke.

He was just 45 years old, worked out often, ate well, and even had a six-pack.

As a doctor, it is alarming to see such cases becoming increasingly common in individuals between the ages of 18 and 55.

So, why is it that even healthy individuals are suffering?

Here are the possible causes of Nithin’s stroke, that you should monitor too:

🔘 1. Chronic stress:

High-stress environments are common in India, but elevated stress hormones like cortisol can damage blood vessels and contribute to inflammation, increasing stroke risk.

🔘 2. Sleep deprivation:

Consistent lack of sleep can disrupt normal hormonal balance and raise blood pressure, potentially affecting cardiovascular health and stroke risk.

🔘 3. Emotional trauma:

Nithin had recently lost his father, which he may not have processed completely before diving back into work. Sudden emotional shock or stress can also contribute to heart attacks.

🔘 4. Overtraining:

While exercise is generally beneficial, excessive workouts and pushing oneself beyond limits can strain the cardiovascular system, potentially increasing stroke risk.

🔘 5. Dehydration:

A lack of water thickens your blood and makes your blood vessels constrict, which can strain your heart over time.

Nithin’s stroke isn’t an isolated incident either — this can happen to anyone.

But recognising the symptoms and acting quickly can significantly improve the chances of a full recovery.

So remember the acronym “FAST” to detect the signs of stroke:

F: Face drooping
A: Arm weakness
S: Speech difficulty
T: Time to call 102

Please repost 🔁 this to spread awareness, and potentially save the life of someone in your network.

#healthandwellness #startup #workplacewellness #zerodha

Pre Market Update

Gift Nifty +63 pts
Gift Nifty 21958
(21895 Nifty Fut Clsd)

*Dow -23.39 pts*
Nsdq -87.56 pts, S&P
-8.42 pts , Bovespa -1533 pts , Ftse -58 pts , Dax +44 pts , Cac +5 pts , Nikkei -98 pts now ,Crude @ $78.21 brl (-0.33), Brent @ $83.40 brl (-0.25) , Gold @ 2043.40 (+0.70), Silver $22.67 (+0.01), Euro @ $1.0838, JPY @ $150.60, INR @ 82.904

*Today's Corporate Action*
*29th Feb Ex Date*
BAJAJ-AUTO
Buy Back of Shares     
BIRLAPREC
Interim Dividend - Rs. - 0.0500  
BTML
Interim Dividend - Rs. - 0.5000  
JWL
Interim Dividend - Rs. - 0.3000  

*Today's Key Results/Board Meetings*
*29-Feb-24*
FIVESTAR
General    
KRRAIL
Quarterly Results;General
MINID
Preferential Issue of shares;General  

*Stock under F&O ban on NSE*
*29-Feb-24*
1 INDUSTOWER
2 SAIL

INSTL. INVESTORS EQUITY DERIVAT. TRADES AS ON : 29-02-2024 :

*FIIS F & O : RS. CRS. :*

*TOTAL NET SELL : -7877* 😭

*INDEX FUT. : -896*

*INDEX OPT. : -334*

*STOCK FUT. : -4181*

*STOCK OPT. : -2465*


*INSTL. INVEST. EQUITY CASH PROV. TRADES AS ON : 29-FEB-2024 :*

*FIIS : BUY +3,568 (54,592-51,024)* 😃

*DIIS : SELL -230 (11,405-11,635)* ☺️

*BSE SENSEX : +195 (72,500)🔼*

*NSE NIFTY : +32 (21,983)🔼*

*BSE MIDCAP. +328 (39,347)*🔼

*BSE SMLCAP. : +227 (45,225)*🔼

*B. CRUDE : $ 82.02* 🔽🙂

*GOLD: $ 2,048=INR 61,990(10gr)*🔼😊

*SILVER : RS. 74,200 (kg)(5pm)*🔼🙂

*FOREX : RS. $ 82.91 🔼 🙂*

*7.18% GOI '33: 7.0823%(100.66)🔼☺️*

*7.18% GOI '37: 7.1296% (100.42)🔼☺️*

INDIA ELECTRONICS MINISTER:
TATA, POWER CHIP TAIWAN TO SET UP FIRST SEMICONDUCTOR FAB IN INDIA

FAB TO MAKE 50,000 CHIPS PER MONTH

TATA'S SUBSIDIARY SET UP SEMICONDUCTOR UNIT IN INDIA'S ASSAM; SAYS CHIPS TO BE SUPPLIED TO AUTOMAKERS FROM THE UNIT

JAPAN'S RENESAS AND INDIA'S CG POWER WILL PARTNER TO SET UP INDIA'S THIRD SEMICONDUCTOR UNIT IN GUJARAT STATE

TOTAL INVESTMENT IN THREE CHIPS UNITS WILL BE 1.26T RUPEES

Mkt. Updates :

*GIFT Nifty +4 pts (22186) from last trade 22182 ,*

Nikkei +469 pts ,
Hangseng -121 pts ,


Dow +47.37 pts ,Nsdq +144.18 pts, S&P
+26.51 pts , Bovespa -1135 pts , Ftse +5 pts , Dax +76 pts , Cac -36 pts , Crude @ $78.26 brl (-0.00), Brent @ $83.62 brl (-0.06) , Gold @ 2054.70 (+0.00), Silver $22.885 (+0.00), Euro @ $1.0803, JPY @ $150.04, INR @ 82.905


*US GOVT. 10-YR YIELD : 4.26%*


*Today's Corporate Action, 01 Mar Ex Date :*

NGIL
E.G.M.       
VIDLI
E.G.M.       
VIKSHEN
E.G.M. 


*Today's Key Results/Board Meetings, 01-Mar-24 :*

APIS
Quarterly Results    
AUTOINT
Interim Dividend    
RMCL
General    


*SEC. IN F&O BAN FOR, 01.03.2024*

*NIL*

*ADDITION : NIL*
*DELETION : INDUSTOWER, SAIL,*

*News Headlines from Business News Agencies :*

*Business Standard :*

📝 Govt launches 2nd round of critical, strategic mineral blocks auction

📝 Key infra sectors' growth slows to 15-month low of 3.6% in January

📝 Fiscal deficit at Jan-end touches 63.6% of full year target: Govt data

📝 Cabinet approves setting up of three semiconductor plants in India

📝 SoftBank Group sells another 2% stake in crisis-hit Paytm to under 3%

📝 Sebi moves to restrict inflows into small- and mid-cap mutual funds

📝 Bitcoin nears $64,000, experts say it may beat previous high before halving

📝 India's green hydrogen sector will need $4-12 billion support: A&M report

📝 OnlyFans paid $15 billion to its creators since launch in 2016: CEO Blair

📝 Zepto launches loyalty programme offering free delivery, discounts

📝 PepsiCo India looking to capture bigger share of potato-based chips market

📝 Urban Indians ready to pay premium price for quick delivery: PwC report


*Economic Times :*

📝 Positive economic outlook prevails for India's mid-market businesses despite global slowdown

📝 Statistics Ministry ties up with ISRO to conduct Urban Frame Survey in digital mode

📝 EV product pipeline, focus on volumes make Castrol India ripe for new highs

📝 Kotak Mahindra Bank aims to grow gold loan book faster than the industry

📝 Convergent, Samara Capital to acquire 51.8% in Agro Tech Foods

📝 India, US agree to share more information to curb illegal opioid trade

📝 US healthcare providers hit by frozen payments in ransomware outage

📝 Govt has built 95,000 km of national highways in last 10 years: Road secretary Anurag Jain

📝 DGCA issues stricter breath analyser norms for air traffic controllers, others

📝 NHAI gives one-month extension to FASTag users to comply with the KYC norms

📝 Puma launches 100 million euro share buyback programme


*Mint :*

📝 India's Q3 GDP grows at 8.4%; FY24 growth pegged at 7.6%

📝 Cabinet approves ₹75,000 cr rooftop solar scheme

📝 Setback for Vedanta as SC dismisses plea to reopen Sterlite plant in Tamil Nadu

📝 Cabinet approves ₹24,420 crore fertilizer subsidy for 2024 kharif season

📝 NCLT defers Go First insolvency decision, awaits high court order

📝 Cabinet approves PM Surya Ghar Muft Bijli Yojana; to benefit 1 crore families

📝 EU consumers challenge Meta paid service as privacy ‘smokescreen’

📝 FAA gives Boeing 90 days to come up with quality-control plan

📝 US-based video game co Electronic Arts to slash 5% of its workforce

📝 Reliance exploring deal to bring British retailer Primark to India, says report

📝 SEC investigating whether OpenAI investors were misled

📝 ReNew in talks with Singapore’s Sembcorp to sell 350 MW solar projects

📝 Semicon is the new oil, India should give more sops for fab units: Qualcomm

🇮🇳India Daybook Stocks in News


*NTPC:* Unit 800 MW of Telangana STPP, Stage-I commences commercial operation (Positive)

*ICICI Lombard:* ICICI Bank acquires further stake in company worth Rs 431 crore. (Positive)

*Suven Pharma:* Company's board approves amalgamation of subsidiary Casper Pharma with company (Positive)

*MOIL:* Company hikes prices of ferro grades with manganese content below mn-44% by 5% (Positive)

*Pidilite Industries:* Company appoints Sudhanshu Vats as Managing Director Designate of the company. (Positive)

*Chalet Hotels:* Company said it has received approval from the Board of Directors for acquisition of partners’ share in Ayushi and Poonam Estates LLP for Rs 315 crore. (Positive)

*Bharti Airtel:* Chairman said that the company is looking at an ARPU of ₹300 by the end of financial year 2025. (Positive)

*Larsen & Toubro:* L&T has commissioned its first domestically manufactured electrolyser at the Green Hydrogen Plant in Hazira, Gujarat (Positive)

*Tips Industries:* Company expands agreement with Warner Media, which gives the latter access to Tips Music's full extensive catalogue globally (Positive)

*Kesoram Industries:* Company signs facility agreement to avail financial assistance or loan worth ₹1,850 crore from Tata Capital (Positive)

*Rallis India:* Company appoints Gyanendra Shukla as MD & CEO for 5 years (Positive)

*Rishabh:* Poland’s Material Subsidiary won a Project for Development of innovative control and protection devices for strategic areas of the energy industry (Positive)

*IEX:* SBI MF under various schemes acquired 98101 Shares (Positive)

*Lemin Tree:* Opened Lemon Tree Resort, Kumbhalgarh, the seventh property in the picturesque state of Rajasthan under Company’s umbrella (Positive)

*CMS Info:* Rajiv Kaul, Executive Vice Chairman, Whole Time Director and CEO has increased his stake in the company (Positive)

*Landmark:* Received a Letter of Intent from MG Motor India Pvt Ltd for opening a dealership in Ujjain, Madhya Pradesh (Positive)

*Craftsman:* Company will commence the commercial operations of its new plant at Sriperumbudur w.e.f. 1st March, 2024 (Positive)

*Bank India:* Received Income Tax Refund of Advance Tax, TDS, TCS and interest on Advance Tax aggregating to Rs. 1,126.50 crores for the Assessment Year 2020-21 (Positive)

*Adani Energy:* Company aims to raise about $400 million via private placed bond (Neutral)

*Power Grid:* Fitch Ratings affirms Power Grid at 'BBB-'; Outlook stable. (Neutral)

*HDFC Bank:* Umesh Sarangi ceases to be Independent Director of Bank. (Neutral)

*Five Star:* Considered and approved the issuance of Non-Convertible Debentures (NCDs) aggregating upto INR 2,500 Crores (Neutral)

*GPT Health:* Nomura Singapore sold 453693 shares of company. (Neutral)

*Biocon:* US FDA issues form 483s with 4 observations for Biocon Biologics facility (Neutral)

*Vedanta:* Supreme Court rejects Vedanta’s plea for reopening Sterlite Copper Smelting unit at Tuticorin

🇮🇳 BSe SENSEx & NSe NIFTy hit new life highs! 🇮🇳

Options mania in India?

T.me/Alliesfin

David Faber asks “There’s got to be some warnings about India too….
85 BN options were purchased in India in 2023.
This is 8 times the volume in US & with avg hold time of 30 min, that seems like a speculative bubble to me…”

Growing Economies may have such Euphoria...