Latest Stock Market News

The Dow Jones Industrial Average rose 9.59 points, or 0.03%, at the open to 32,570.19.

GameStop soared as much as 53%, heading for its biggest gain in two years, at the opening bell and it pulled other meme stocks along for the ride.

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Smart Beta portfolio is a strategy that ensures safety in the market by investing in good quality companies with strong earning power and high dividend yield. On the other hand, Alpha strategy involves generating outperformance over a specific index fund by constructing a portfolio with higher weightage on top-performing largecap stocks and midcap stocks with good earning growth potential. A Smart Beta portfolio must consist of stocks that are less volatile, have good earning power and high dividend yield.

Investment opportunities in India are difficult to predict due to volatile markets and supply chain disruption caused by the Russia-Ukraine conflict, according to Tarun Birani, Founder & CEO of TBNG Capital Advisors. Despite this, the banking, manufacturing, IT, pharma, and telecoms sectors are all showing promise, with Birani favouring a diversified investment approach led by a trusted fund manager.

India ranks third in the world with a total of 187 billionaires. Mukesh Ambani, who sits over a wealth of $82 billion, has overtaken Gautam Adani to bag the richest Indian title. Ambani is the only Indian to feature in the top 10 of coveted global billionaires list.

Indian equities closed higher for the second consecutive day on Wednesday ahead of the crucial interest rate decision by the US Federal Reserve later today.

So, while a rate hike is essential to bring inflation closer to the Fed’s 2% target, it would mean adding to the liquidity woes the banking system is currently experiencing.

After Taiwan, India is currently the top weighted market of Mobius as it takes a bet on the manufacturing potential of the country. The ace investor said that he is looking to increase the allocation going forward.

The short-term trend of Nifty remains positive, but the market is not gaining momentum through the hurdle. Unless the immediate resistance of 17,200 is taken out decisively on the upside, the chances of a sharp upmove could be less, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities, adding that the immediate support is at 17,020 levels.