News Overview

In stainless steel, longs capacity at Indore will expand to 220kt by FY26 while Sambalpur would see a new 500kt flats capacity (incl 200kt CR) by FY27.

Spot gold was up 0.6% at $2,386.38 an ounce. Earlier in the session, the price of gold reached a record high of 2,389.29.

U.S. West Texas Intermediate crude futures increased by 44 cents, or 0.51%, to $85.45, while Brent crude futures increased by 34 cents, or 0.38%, to $90.08 a barrel.

The U.S. Treasury rates, which the dollar/yen pair usually tracks closely, surged during the previous session.

Analysts of IIFL Capital Services recommend to stay selective with firms providing better visibility (INFO/PSYS), while avoiding turnaround trades (TECHM/WPRO).

March 2024 saw a shift back to passive funds, but their returns have been quite phenomenal.

Minutes of the Fed March 2024 meeting remains unsure of timing of rate cuts.

The 22.04% yoy growth in mutual fund folios in March 2024, tops the year with a record performance.

We bring you our monthly check on mutual fund flows.

Net outflows in March 2024 were expected due to the year-end treasury adjustments in liquid funds.