Nifty suffered its worst February decline since 2020, dropping 5.9% amid a broad sell-off, primarily in IT, auto, and pharma stocks. The index is down 16% from its peak, marking its longest losing streak since 1996. With March starting on a weak note, hopes are pinned on positive seasonality based on past performance in the final financial month.
Buch, the first woman and private-sector executive to lead Sebi, implemented major market reforms, such as restrictions on retail derivatives trading and enhanced regulation of brokers.
Nifty has support around 22,200 and banking index support is near 47,800. The market shows significant corrections with FIIs lacking buying interest. Coal India and ONGC are suggested buys, while IndusInd Bank is recommended for selling. Overall, caution and selectivity are advised.
Sameer Khetarpal, MD & CEO of Jubilant FoodWorks, reveals strategic actions driving the company's growth amid tough times. They've increased value through free delivery and more cheese, focusing on operational excellence with rapid delivery. Their innovative use of technology and AI in operations fuels store expansion and enhances efficiency, aiming for sustained double-digit growth.
With the tax-saving season approaching, investors are turning to ELSS mutual funds for their potential high returns. Over the past three years, some ELSS funds have delivered up to 22% XIRR on SIP investments. SBI Long Term Equity Fund led the category with a 22.20% XIRR.
