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PSU-themed mutual funds have seen negative returns of up to 12% in the last three months, with six funds reporting losses. The Quant PSU Fund, launched in February 2024, saw the largest decline at 11.58%. Other funds like CPSE ETF, Aditya Birla SL, Invesco India PSU, and ICICI Pru PSU also posted significant losses during this period.
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Saudi Arabia Weather: Saudi cities including Mecca and Jeddah faced heavy rainfall and flooding on January 8. Residents formed human chains to help marooned children. Although no casualties are reported, the floods have stressed the underdeveloped sewage systems. The National Meteorological Centre has issued red alerts and closed public spaces, while schools moved to online classes in some regions.
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The Indian market enters 2025 with optimism tempered by caution. GDP growth is projected at 6.5%-7%, driven by domestic consumption and industrial expansion, positioning India as a resilient investment destination.
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News and Media
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