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Passive funds have witnessed a consistent rise in popularity, with total assets under management (AUM) of all exchange-traded funds and index funds that track the Nifty 50 indices crossing the Rs 7 lakh crore mark in May-end. As of May 31, 2023, there were 251 passive funds tracking 101 unique Nifty indices. Nifty indices-linked passive funds account for around 72% of total equity and debt passive funds AUM and 75% of the total number of passive funds in India. The AUM of passive funds surged to Rs 7.17 lakh crore as of May 31, 2023.

ICICI Securities shares closed over 10% higher as Board of Directors of ICICI Bank mulls delisting of its institutional and retail broking arm and have called a meeting on June 29 to discuss the same.

But for somebody who is actively managing their deposits, who is aware of what is happening in the market, where the best rates are for them maybe there could be a slight advantage in creating the regular fixed deposits where the interest rates could be slightly higher.

Today, as the interest rate rises and the gap between the savings interest rate and the interest rate or the earning rate on some other investment opportunities, like, say, a liquid fund, is so wide, whereby customers tend to move their surplus funds out of the banking system

In the overseas markets, both gold and silver were trading higher at USD 1,928 per ounce and USD 22.72 per ounce, respectively.

Several stocks in the Nifty Smallcap 100 index have shown an impressive recovery from their 52-week lows, with standout performers including Mazagon Dock Shipbuilders and Jindal Stainless. Mazagon Dock Shipbuilders witnessed a remarkable increase of 429.49%, while Jindal Stainless marked an increase of 233.11%. Other notable recoveries include KEI Industries, Raymond, Cyient, Tanla Platforms, KPIT Technologies, and RBL Bank, demonstrating effective management strategies, resilience, and capacity to navigate market challenges and capitalize on growth opportunities. These recoveries highlight the potential for growth and market resilience within the Nifty Smallcap 100 index.

Several BSE Smallcap stocks reached their 52-week high and generated market excitement. AstraZeneca Pharma, Apar Industries, Force Motors, Angel One, Venus Pipes & Tubes, Surya Roshni, Talbros Automotive, and Landmark Cars were among eight prominent stocks that led this bullish trend.

IDFC First Bank and Apollo Tyres are among the Nifty Midcap100 stocks which have demonstrated a strong recovery from their 52-week lows, attracting investor attention. IDFC First Bank saw its price increase by 157.36% from its 52-week low of Rs 29.9, while Apollo Tyres witnessed an increase of 123.18% from its 52-week low of Rs 179.9

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Experts suggest that Housing Development Finance Corporation (HDFC) could see a bullish momentum, with a possible target of Rs 2,820 in the next 3-4 weeks. After hitting a 52-week high of Rs 2,867, the stock found support above the 200-EMA and reclaimed the 50-EMA last week. It also broke out from a falling wedge pattern on the daily charts, suggesting bullish momentum. In terms of price action, the stock is trading above most short and long-term moving averages. Experts recommend buying the stock on marginal dips, keeping the stop loss below Rs 2,640 levels.