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#770 Daily Money Show | Money Purse Stock Market News

Original: # 770 Daily Money Show | Money Purse Stock Market News

58.8K views · Mar 13, 2024 · 16:13 min · Watch on YouTube ↗
Takeaway

Avoid panic-buying mid/small-cap dips - SEBI's valuation concerns and forced de-leveraging may extend the correction; wait for stability.

Summary

  • Sensex fell 906 points to 72,761 and Nifty -338 to ~21,997; mid-cap -4.06%, small-cap -4.97% - severe pressure
  • Sell-off driven by SEBI Chair Madhavi Puri Buch's warnings on stretched mid/small-cap valuations and excess retail participation, plus upcoming mutual fund stress test disclosures
  • US February CPI came in slightly above expectations, pushing back expected Fed rate cuts
  • Brokers asked clients to cut leverage; many investors closed mid/small-cap positions instead, triggering cascading sell-off
  • ITC saw positive move as BAT (majority shareholder) sold 3.5% stake via block deal at Rs 400.40 per share
Daily Money ShowSEBIMid CapSmall CapITC Block Deal
Original description
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