NFO Alert: UTI Mutual Fund launches UTI Innovation Fund; all you need to know

UTI Mutual Fund announced the launch of UTI Innovation Fund. The scheme opened for public subscription on September 25, 2023, and will close on October 09, 2023.

Rupee falls 20 paise to close at 83.14 against US dollar

<ul><li>At the interbank foreign exchange market, the local unit opened weak at 83.04 and traded between a high of 83.04 and a low of 83.15 against the greenback.</li></ul>

Gold remains flat, silver tumbles ₹450; check rates here

<ul><li>In the international markets, both gold and silver were down at USD 1,922 per ounce and USD 23.45 per ounce, respectively.</li></ul>

Market Wrap: Sensex, Nifty end flat in highly volatile trade amid weak global trend

Stocks

<ul><li>After gyrating 461.6 points during the day, the 30-share BSE Sensex eked out a marginal gain of 14.54 points or 0.02 per cent to settle at 66,023.69. The broader Nifty settled marginally up 0.30 points at 19,674.55.</li></ul>

Top 5 banks offer lowest home loan interest rates starting 8.5%

The rate of interest that these banks charge fluctuate on the basis of the borrower’s credit score and the amount of loan. The lowest interest rates of most large lenders hover around 8.5 to 8.75% per annum

Should you bid for JSW Infra IPO: From subscription status to GMP, here's all you need to know

The ₹2,800 crore initial public offering (IPO) of JSW Infrastructure is open for bidding between September 25 and September 27 at a price band of ₹113-119 apiece.

Individual investors hold 89% of their assets in equity-oriented schemes

Individual investors, including both retail and HNIs, account for 89% of the assets in equity-oriented schemes. Conversely, institutional investors hold a dominant share in liquid and money market schemes (88%), debt-oriented schemes (59%), and ETFs and FOFs (90%).

5 days left to complete mutual fund nomination. Here's how you can avoid your account getting frozen

One can opt for a nominee online or one can also submit the physical form for nomination to complete the formality.

ESG expected to contribute 34% of total domestic AUM by 2051, study claims

According to a study conducted by Avendus Capital, it is projected that ESG investments will account for approximately 34% of India’s total domestic AUM by the year 2051, aligning with India’s Net-Zero target for 2070.

Morgan Stanley initiates coverage on Kaynes Technology and Syrma SGS with ‘overweight’ rating; here's why

Morgan Stanley initiates coverage on Kaynes Technology and Syrma SGS Technology with ‘overweight’ ratings, citing India's robust electronic manufacturing prospects.

Around 90% regret not saving early for retirement, shows study

Life insurance remains the most well-known financial product with awareness levels at 97 percent in the zone. People who feel confident about being fit and healthy during their retirement drops from 47 percent to 32 percent

Godrej Properties shares climb over 2.4%; here's why

The company's shares over the last six months have gained 42%, and are up by 23% in the last 1 year and 168% in the last five years.

Yatra Online IPO allotment today: Here's how to check status and latest GMP

The allotment for the initial public offer (IPO) of travel service provider Yatra Online is likely to be finalised today, September 25. Investors can check their allotment status on the issue's registrar Link Intime India's website as well as on BSE.

Ray Dalio’s risk parity approach: Diversifying bets for reducing risks

<ul><li>Discover how Ray Dalio leverages macroeconomic trends to navigate Bridgewater Associates through market cycles. His risk parity approach showcases the power of diversification.</li></ul>

AIFs could receive authorization to issue P-notes from within IFSC: Report

The International Financial Services Centres Authority is considering allowing alternative investment funds to issue P-notes from the GIFT IFSC.

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Investing Mantras

These five banks offer lowest home loan interest rates starting 8.5%

Gold remains flat, silver falls rupees 450 on September 25, 2023

Market Wrap: Sensex, Nifty close on a flat note on September 25, 2023

4 small finance banks offering over 8% return on fixed deposits

MintGenie Specials

Number of participants in crypto ecosystem has risen, says Mridul Gupta of CoinDCX

Mr Gupta shares his thoughts on cryptocurrency prices, future scope of blockchain, problems that the technology has tried to solve, and also explains why is it too early to speak about what the future holds for Central Bank Digital Currencies (CBDCs).

Market entering volatile phase; mid and small-cap stocks could see consolidation, says Hemang Kapasi of Sanctum Wealth

Head of Equities at Sanctum Wealth, Hemang Kapasi, has stated in an interview that there is fatigue in heavyweight sectors, but low-weight sectors are performing well. He advises investors not to get carried away by market euphoria. 

Start-up founders need a drive to solve a problem, says Tanul Mishra of Afthonia Lab

She says that the struggle and hardships come in abundance before fame and money come knocking on the doors of start-ups. She deconstructs the reasons as to why her firm zeroed in on only 20 start-ups out of a vast pool of more than one thousand.

PAYD enables customers who drive less to seek better pricing on premiums, says Akanksha Jain of Digit Insurance

In an interview with MintGenie, Digit Insurance’s Akanksha Jain shared how the “pay as you drive” concept allows vehicle owners to pay premiums depending on not only how much they drive but how, where, and when they drive.

Expert Speak

7 timeless investing lessons from Charlie Munger

<ul><li>Unlock the timeless investing wisdom of Charlie Munger, Warren Buffett's right hand for 45 years. Get insights into patience, risk, and the importance of continual learning in investing.</li></ul>

6 money lessons you can learn from Dev Anand’s hit songs

Bollywood's gregory peck, Dev Anand, left a legacy of incredible music and money lessons through his films.

Valuation: 4 key lessons from Aswath Damodaran’s to take away

Valuation methods vary, but it's important to approach with an open mind and consider both quantitative and qualitative aspects.

5 money lessons to learn from the 10-day Ganapati festival

Ganesh Chaturthi festival celebrates the God of Wisdom, Ganesh, and offers financial lessons for investors.

Lessons In Investing

NTPC vs PowerGrid: Which power stock is better investment for long term?

Indian government targets to double power generation capacities to 900 GW by 2030, benefiting power sector stocks. Let's analyse between power stocks NTPC and PowerGrid Corporation, which has better growth opportunities for the long term.

HDFC Bank Stock Check: Down over 4% this year so far, is it a good time to buy?

HDFC Bank's stock has underperformed its benchmark due to merger-related turbulence, but analysts remain positive on its long-term prospects.

Glenmark Pharma vs Aurobindo Pharma: Which stock is a better investment for long term?

<ul><li>In 2023 YTD, both Glenmark and Aurobindo more than doubled investor wealth, rallying around 104 percent each.</li></ul>

At record high! Mid and small-cap indices witness incredible bull run; should you still buy or stay cautious?

Mid and small-cap stocks continue to rally, outperforming benchmark indices. Experts suggest caution due to high valuations.

DEEP DIVE

Who is a wilful defaulter? An explainer as RBI expands the scope

It refers to a borrower who has access to funds to repay his loans but he still chooses not to, and defaults on the repayment of loan. RBI has now released a draft master direction on treatment of wilful defaulters

Your Questions Answered: What are the differences between index mutual funds tracking Sensex and Nifty 50?

Index funds are passive funds replicating a market index such as the S&amp;P BSE Sensex or the NIFTY 50. The objective of index mutual funds is to provide similar returns as the underlying index's returns.

What is Bima Sugam that could be a UPI moment for insurance sector? Details here

Just as an e-commerce platform, Bima Sugam will be online insurance marketplace that will enable insurers to sell their policies here, and policyholders will be able to buy and apply for claims.

Recovering money sent via UPI to the wrong account: What steps to take?

It's crucial to be ready in case you need to initiate a UPI transaction reversal. Prompt action is essential when it comes to reversing UPI transactions.

Explain Like I am 5

NFO Alert: Mirae Asset Mutual Fund launches the S&amp;P BSE Sensex ETF; all you need to know

Mirae Asset Mutual Fund announced the launch of the Mirae Asset S&amp;P BSE Sensex ETF. The scheme opened for public subscription on September 22, 2023, and will close on September 26, 2023.

NFO Alert: Mirae Asset Mutual Fund launches the S&P BSE Sensex ETF; all you need to know

What is FIRE and how can you achieve it? All you want to know

Followers of this movement save and invest up to 70 percent of their income in order to retire young, After the retirement, they withdraw only 3-4 percent of their accumulated savings.

Vaibhav Jewellers IPO: Here's all you need to know before subscribing to the issue

Vaibhav Jewellers IPO, with a price band of ₹204-215, has opened for subscription, aiming to raise ₹270.20 crore. Here's all you need to know about the issue.

All You Need To Know

How to prevent credit card information theft while shopping online?

Certain security vulnerabilities lie outside your realm of control; nevertheless, you possess the means to shield your information and fortify existing safety measures. This principle holds even when utilizing credit cards for online shopping.

How to link Aadhaar with UAN? A step-by-step guide

The EPFO has prolonged the UAN-Aadhaar linking deadline until March 31, 2024. Individuals can opt to connect these two either through online means or offline, based on their convenience.

Vishnu Prakash R Punglia IPO allotment today: Here's how to check status and latest GMP

The allotment for the initial public offer (IPO) of Vishnu Prakash R Punglia is likely to be finalised today. Investors can check their allotment status on the issue's registrar Link Intime's website as well as on BSE.

Income Tax Refund: How to claim, check online status and more

Not all are entitled to an income tax refund. However, those who are waiting for the refund amount must be aware of factors and conditions affecting the credit and taxability of the refund amount. 

How To

Mutual fund assets spike to ₹46.94 trillion in August 2023

The Indian mutual fund industry managed assets spiked from Rs. 39.53 trillion in August 2022 to Rs. 46.94 trillion in August 2023. The equity-oriented schemes held 52.7% of the industry assets in August 2023 followed by debt-oriented schemes with a 19.2% share.

Glenmark Pharma vs Aurobindo Pharma: The difference that matters

Both Glenmark Pharma and Aurobindo Pharma have given massive returns to investors in the past one year with Glenmark surging 120 percent and Aurobindo gaining 64 percent in the same period. Meanwhile, the pharma majors surged 104 percent each in 2023 YTD.

General insurance trend 2023: Private players continue to gain shares from PSU players

The August 2023 general insurance trend shows that the overall gross premium for general insurers rose 15% y-o-y, while retail health rose 20% y-o-y in the given period. Moreover, the private players continued to gain shares from the PSU payers.

Infographics

Why investing in 20s is a game changer in your journey to wealth creation?

Investing in your 20s can be a game-changer due to the power of compounding, high-growth sectors, demographic dividend, government initiatives, and diversification opportunities.

Personal Finance

Nifty Auto index rallies 29% in CY23 so far; best yearly performance since 2017

Nifty Auto Index rallies 29% in 2023, marking highest annual gain since 2017, driven by improving demand and earnings outlook.

Sensex, Nifty decline in early trade on weak global trends, foreign fund outflows

<ul><li>The 30-share BSE Sensex fell 136.61 points to 65,872.54. The Nifty dipped 39.7 points to 19,634.55.</li></ul>

Meme Of The Day: Whose annual income is under 3 lakhs

The only time someone is being okay with his/her salary.

Meme Of The Day: When your CA friends are not helping you with tax filing

The Income Tax department recently launched a mobile app — ‘AIS for Taxpayer’ to enable taxpayers to view their information available in the AIS. Taxpayers can use the mobile app to view their information related to TDS/TCS, interest, dividends, share transactions, tax payments, Income Tax refunds, Other Information (GST Data, Foreign Remittances) as available in AIS/TIS.

Meme Of The Day: The time of the year when CAs are hounded by their 'friends'

In case you happened to under-report your income in the financial year 2019-20, then you are allowed to file an updated income tax return (ITR) prior to March 31, 2023 to incorporate the changes.

Meme Of The Day: When you invest in the stock market without learning

When you invest in the stock market without learning