Market Bizzz

Stocks that were in focus included names like Kotak Mahindra Bank, which rose 1.85%, Laurus Labs, which gained 9.47%, and Vedanta, whose shares declined 3.37% on Monday.

Bonds have held onto a bounce-back after the 10-year Treasury yield breached 5% on Monday, with the benchmark yield firm at 4.82% in Tokyo trade.

Spot gold gained 0.2% to $1,974.29 per ounce by 0104 GMT, having declined in the previous two sessions and trading below five-month highs hit last week. U.S. gold futures

“SIP flows continue to be strong despite global headwinds as the domestic economy is showing resilience. We are also seeing more NFOs being launched, especially in multi-cap, small-cap, and thematic space to plug in any gap in the product offerings. An investor should consider various factors for selecting a fund such as fund manager experience, performance history, expense ratio, type of scheme, assets under management and investment objective.”

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.28% lower at 473.37, having touched 472.73 – the lowest since November 2022. The index is down 3% for the month and set for its third consecutive month in the red. Japan’s Nikkei fell nearly 1%.

First Water Capital Fund, managed by Arun Chulani, has delivered impressive returns, with a 5.4% gain in September 2023, making the 1-year return close to 47% and the 3-year rolling return at 43%. The fund has been ranked number one by Barclay Hedge’s in the “Top 10 Equity-Long Only Hedge Funds” category, with a Dollar CAGR of 34%. Chulani attributes the fund’s success to sticking with industries they understand and focusing on companies with strong balance sheets. He also emphasizes the need to embrace volatility and manage risk effectively.