Indian Market

- The Indian government has increased the tax rate on equity derivatives trades and capital gains from equity investments, effective immediately for some changes and from October for others. - Taxes on stocks held for less than one year have been raised to 20% from 15%, and for those held over one year to 12.5% from 10%, which may hurt short-term market sentiment but incentivize long-term investment. - The securities transaction tax on futures has been nearly doubled to 0.02% from 0.0125%, and on options to 0.1% from 0.0625%, causing a temporary dip in major stock indexes. - Fund managers believe the tax changes will bring rationality to options trading and encourage better investment behavior, despite being a short-term negative for the market. - Additional tax adjustments include reduced taxes on listed bonds and unlisted shares held by foreign companies, and changes to the taxation of company share buybacks. Source: Reuters

Indian stock market hits new highs: ->BJP-led NDA leads pre-poll surveys ->Strong global cues,ECB rate cut expectations ->FII buying activity ->Anticipated RBI rate cuts ->Broad-based rally in small/mid-cap stocks

I think we are heading up. I can't see any sector that can pull the market down. We are in an uptrend and unless 21200 breaks on Nifty, we will remain in uptrend. Global cues are fine as well. The US market is undergoing a pullback and it should be contained around 4-6%. Coming back to our indices. Oil, Energy , PSU remains the strongest. Metals, IT are in good structure. Realty, Infra are also doing the right thing. Auto remains the consistent outperformer First Maruti and yesterday M&M broke out. The problem area was Nifty Bank and it has started to do the right thing. SBI cannot lead NB higher HDFC, Kotak needs to chip in now. NB is a Beast. If it starts finding its feet, a much higher level will come for Nifty. I have been booking profit for the last 2,3 weeks and have raised 40% cash. Now i have started deploying it. I have picked up 5 names from this list. https://share.gvine.app/Hn9vxKmr86PkqJmx5 I have a few other stocks on my radar. I want to build new positions for eg.in M&M. But i will wait it out. I am not going to chase any kind of breakout. I want a pullback that will shake a lot of people and then I will get in. If stocks want to just fly, I'll let it fly, I won't chase anything. I want odds on my money at this stage. I also picked up Nifty Futures yesterday, a lot of people will find it difficult to build newer positions atm as the market is stretched and rightly so, it is stretched. But the best of the rally happens in the stretched Market. I don't mind if i am wrong. I have my stop losses and risk management rules to protect me. I follow a certain process and i will keep following it. Lets go to the moooon 🚀🚀

- India cannot achieve the status of Viksit Bharat without appropriately taxing capital gains, according to Finance Secretary TV Somanathan. - Somanathan emphasized that earners of capital gains are not poor and should be taxed at a decent rate. - The recent hike in long-term capital gains tax (LTCG) to 12.5% from 10% is part of a move to simplify and make the capital tax regime more uniform. - Somanathan defended the tax hike by stating that India's rate of capital tax on long-term listed equities is low by global standards. - The Union Budget for 2024-25 also increased the short-term capital gains tax to 20% on specified financial assets. Source: Moneycontrol

- The Modi government has decided to drop its aggressive privatisation plans and will instead focus on overhauling more than 200 state-run firms to make them more profitable. - The new strategy, expected to be unveiled in the annual budget on July 23, includes selling underutilised land and monetising other assets to raise $24 billion in the current fiscal year. - The government aims to set five-year performance and production targets for each company, introduce succession planning, and train 230,000 managers for senior roles. - Despite hurdles in privatisation, the market valuation of state-run firms has more than doubled in the past year, indicating investor confidence in the sector's reforms. - Analysts warn that India risks missing the opportunity to capitalise on booming valuations, but the government expects higher profits and increased returns from its reforms. Source: Reuters

- Congress has asked Prime Minister Narendra Modi for his stance on a billionaire tax ahead of the G20 meeting. - Brazil's proposal for a 2% wealth tax on billionaires, supported by several countries, could raise significant funds for public investments. - A research paper suggests a 2% wealth tax and a 33% inheritance tax in India could generate 2.73% of GDP in revenues. - A survey shows 74% of Indians support taxing wealth to address global issues like hunger, inequality, and climate crisis. - Former leaders have urged current G20 leaders to support a global billionaire tax, though some nations have raised objections. Source: Economic Times

Missed the last COVID rally but this time it has rewarded. How many of you are invested in Bitcoin? My biggest regret is not to invest in Bitcoin in 2012 when I got introduced to it by a good friend!

We all know that majority of analysts and experts are optimistic of Indian Economy. It will be going to be the 10 trillion dollar economy by 2030 as per most. So we can make good amount of money in long term ( 15-20 years ). I am also investing in stock market ( majorly in index funds and self analysed stocks ). Also seeing current developments myself too optimistic about this. Prediction is if BJP wins this election will boost the market. But my concern is what if BJP have done huge scam internally which is unknown due to huge control over government currently. And what if that scam bubble break one day. Isn’t this going to make our long term investment to go negative and loose most investments. Even though I have soft corner on BJP, by seeing only ED raids on non-bjp politicians, if non-bjp person joins BJP his scams are waived off. I think this might have given huge advantage to some cunning MLAs and MPs of bjp and they might have done huge scams and one day it may break. It’s my thoughts. What all you think? Is there any scam bubble in progress?