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Ten of the 11 major S&P sectors declined in early trading. Economy-sensitive industrials, financials and energy dropped between 1.6 per cent and 3.2 per cent.

“We were relooking at all the commodity stocks and were waiting for a pullback. Now that we are witnessing one such pullback, we want to review our portfolio positioning as far as commodity companies are concerned over the next few weeks.”

Investors quite often focus on the last one-year return on a particular date to choose a mutual fund scheme for investment. There is a big fallacy in doing so.

The decentralised finance (DeFi) landscape offers multiple opportunities but smart-contract exploits are becoming an increasing concern, as fraudsters could take advantage of flaws in the code.

KFin Tech provides a wide array of financial technology solutions across a broad spectrum of asset classes spanning mutual funds, alternatives, insurance, and pension. It has been growing its market share in the mutual fund servicing segment.

Nowhere was the knee-jerk reaction felt more acutely today than in the metals space. The Nifty Metal index plummeted nearly 7 per cent in one of the biggest sell-offs the sector has seen since the dark days of March 2020. Much of that selling was in steel stocks, which reflected in Tata Steel’s 10 per cent fall.

Nifty formed an Inverted Bearish Hammer kind of candle on the daily scale and negated the formation of higher highs and lows of the last four sessions.

Among the new generation franchises, some are already generating free cash flow, some are not. And Mukherjea says he does not believe in franchises that do not generate free cash flow.

“Clearly the markets are running ahead of the fundamentals and trading at valuations which are higher than fair value. We have borrowed some of the returns from the future which means that the future returns from equities at least in the medium term are bound to be a little lower than what we have experienced.”

Equity investors were left poorer by Rs 3.78 lakh crore, as their total wealth represented by BSE market capitalisation declined to Rs 255.18 lakh crore. This means they lost over Rs 1,000 crore per minute!