Indian Indices Trade Marginally Lower; Precious Metal Stocks Witness Selling

Share markets in India are presently trading marginally lower. Sectoral indices are trading on a mixed note with stocks in the metal sector and power sector witnessing maximum selling pressure.

The BSE Sensex is trading down by 104 points (down 0.3%), while the NSE Nifty is trading down by 27 points (down 0.2%). The BSE Mid Cap index is trading down by 0.2%, while the BSE Small Cap index is trading down by 0.3%.

The rupee is trading at 68.93 to the US$.

In the news from the finance sector, AU Small Finance Bank share price is witnessing buying interest today. Gains are seen amid reports that Warburg Pincus sold 5% stake in the company to a marquee investor in a block deal.

Warburg Pincus was required to bring down its stake in the company below 10% in line with RBI regulations.

At the time of writing, AU Small Finance Bank share price was trading up by 8.4% on the BSE.

In other news, as per a Federation of Independent Financial Advisors (FIFA) study of 25 countries, India's equity mutual funds are the third least expensive in the developing world. As per them... "The three approaches - tracking superinvestor shareholdings, catching these moves early through bulk and block deal disclosures, and keeping tabs on changes in promoter holdings - have unveiled some critical smart money secrets..."

As per the data, India's equity mutual fund expense ratio - the portion of assets mutual fund houses take back as a service charge - stands at 1.88%, the third after Norway's 1.80% and Japan's 1.87%.

The average total cost for equity funds before taxes across all countries was 2.15%. The UK was the most expensive at 2.83%.

India was the least expensive among developing nations where the mutual fund industry is at a nascent stage.

The above findings were based on March 2017 data and as per FIFA ownership expense in India would have reduced further as the local regulator has since mandated a reduction in the total expense ratio.

1 2
View single page >> |

Disclosure: Equitymaster Agora Research Private Limited (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.