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The wealth management industry in India is expected to grow at a healthy rate over the next five years, with a focus on serving ultra-high net worth individuals (UHNIs), high net worth individuals (HNIs), mass affluent, and retail investors. New-age wealth management firms are integrating banking and lending services to provide comprehensive solutions. The use of technology, including AI-powered chatbots and digital platforms, is driving innovation in the sector.

Modern wealth management places a premium on responsible investing, with a growing emphasis on environmental, social, and governance (ESG) factors. Thus, investors should aspire to "see no evil" within their portfolios, which can be accomplished by steering clear of investments in companies or industries that perpetuate negative social or environmental consequences.

While India has made significant steps to standardise taxation, a high rate of TDS has caused a flight of volumes and users to platforms in foreign jurisdictions and the grey market. Following the announcement of a new tax regime, there was a shift of around Rs 32,000 crore of trade volume from domestic VDA exchanges to foreign ones from Feb-Oct 2022.

Insurance has existed since the earliest forms of civilization, with humans and animals alike forming groups to protect and support each other. Over time, the insurance industry began selling insurance based on fear rather than the underlying principle of collective well-being. Insurance is essentially a mechanism for caring for each other, extending support to people beyond our immediate circles. It is about individuals and communities coming together to mitigate risks and build a well-protected society.

Valiant Laboratories & Plaza Wires are open for subscription in the mainstream segment. As many as 12 IPOs in the SME segment are available for public subscription. These issues are Goyal Salt, Sunita Tools, Canarys Automations, Oneclick Logistics, Vinyas Innovative, Kontor Space, E Factor Experiences, Vivaa Tradecom, Karnika Industries, Plada Infotech, Sharp Chucks and Vishnu Priya Projects.

“Filatex India Limited, a small cap company engaged in manufacturing and trading of synthetic yarn and related fabrics falls under ‘Other textile Industry’. The stock has moved by significant volumes in the past few days indicating the investor’s interest,” Madhu Bansal, Research Head, The Finberg, said.

Sebi had in March this year approved a proposal to verify market rumours to strengthen corporate governance and disclosure framework. The move was based on the recommendations made in three consultation papers released by SEBI between November 2022 and February 2023. Prior to this, listed entities had it upon themselves to verify and respond to market rumours.

In the entire calendar year, the markets have 15 annual holidays in 2023, two more than last year. Domestic Indices closed the September month on a high with Sensex rising 320 points and Nifty closed above the 19,600 mark on Friday.

The Nifty PSU Bank index is approaching a make-or-break zone near its all-time high resistance of 5375. If there is a breakout above this level, it could lead to a fresh rally in the index and PSU stocks. However, failing to do so in the coming weeks may result in profit booking or consolidation. The Nifty Bank index has historically performed well in October and could outperform the benchmark indices. Traders should watch out for levels around 44000-43600 as a strong base for the short term.