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The Q4FY23 results were slightly better than expected, with the Nifty50 index showing 15% YoY earnings growth and the broader market seeing approximately 10% growth. Financials and auto enjoyed the most significant upgrades, while IT, pharma, and metals experienced downside. The Indian economy witnessed a real GDP growth rate of 7.2% in FY23 with the market expecting better corporate profit performance in FY24, despite a projected slowdown. Companies with stable domestic demand and those oriented towards the domestic market are likely to benefit the most, with value-oriented investments and stock-specific approaches recommended.

Gold closed the week at $1,960.88 with a gain of 0.70%. Two-year US yields rose by almost 2% while ten-year yields increased by 1.11%. The US weekly jobless claims rose by 28,000 jobs to 261,000 jobs, the highest level reached in almost six years, sparking recession concerns. The US ISM non-manufacturing report for May also disappointed on multiple fronts. The US Federal Reserve indicated it will skip a rate hike at its June FOMC meeting. The Bank of Canada and the Reserve Bank of Australia unexpectedly hiked rates against market consensus, and the Swiss National Bank also issued an inflation warning.

Several online bond platforms in India are considering creating an industry association similar to the Association of Mutual Funds in India, after a request from the Securities and Exchange Board of India. The association would help address industry issues and grievances. IndiaBonds, GoldenPi and The Fixed Income and Bond Bazar are among the regulators currently recognized. Retail interest in online bond investing has grown since Sebi reduced the face value of debt securities issued in private placements to INR 1 lakh from INR 10 lakh. The regulatory body has also implemented new rules around transparency, settlements, redressal mechanisms and offerings.

Dr Mark Mobius, the founder of Mobius Capital Partners, maintains his mental and physical fitness by learning new things, travelling, stationary cycling and weight training. Managing $300m in assets under management (AUM) across countries, Mobius advises fund managers not to put themselves under high pressure, to tell investors not to expect quick results, and be prepared to face market downturns.

Three people — Suman Mahajan, Susmita Nag and Tushar Kanti Mondal — are collecting money from gullible investors and offering guaranteed returns by investing the money in stocks. Both Zerodha and Angel One had complained to the exchanges about them and their entities. Based on this, the NSE has cautioned investors not to deal with these entities.

A dividend is a share of profits and retained earnings that a company pays out to its shareholders.

Indian shipbuilding company, Mazagon Dock Shipbuilders, has seen a surge in its stock value, rising as much as 286% in the past year. The surge has continued with the stock rising 37% in the past month. The company has strong order backlog of INR 38,754 crore as of March 2023 and is expected to benefit from upcoming bids from the Indian Ministry of Defence, helping to improve the order book and revenue visibility of the company. Investors are advised to invest in the stock in the Rs. 1009-1050 band with a base target price of Rs. 1,131.

The US Securities and Exchange Commission (SEC) has filed separate lawsuits against Binance and Coinbase alleging securities law violations. The charges claim that Binance violated regulations by allowing US customers to trade despite a ban, and that Coinbase engaged in securities trade without sufficient registration, operating as an unregistered broker and exchange.

Equity-linked saving schemes offer tax benefits under Section 80C of the Income Tax Act. Equity mutual funds have a lock-in period of 3 years and gains are taxed at 15% for less than a year. The top five tax-saving mutual funds on the basis of returns for 3 years are Quant Tax Plan (33.04%), BOI AXA Tax Advantage (23.75%), Mirae Asset Tax Saver Fund (20.04%), Canara Robeco Equity Tax Saver (19.84%), and IDFC Tax Advantage (ELSS) (18.89%). For 5 years, the top five funds are Quant Tax Plan (22.50%), BOI AXA Tax Advantage (18.26%), Mirae Asset Tax Saver Fund (18.22%), Canara Robeco Equity Tax Saver (17.26%), and IDFC Tax Advantage (ELSS) (16.24%).

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