August 18, 2024 | Read Online
Movement of Millionaires globally – India being amongst the highest
We believe the recent change by the government of getting unlisted shares taxed at 12.5% will bring about a big change in the numbers below. Of course it's not only taxes, but also the quality of life and litigation concerns/effectiveness that impact the below numbers, however, things should get better here
Equity markets moved higher globally on the back of positive economic data from the US viz. Strong earnings, good retail sales and positive US consumer sentiment data.
Gold prices breached $2,500 USD for the first time (Indian gold prices also moved higher).
RBI came out with new regulations for P2P (Peer to peer) and NBFC lending. P2P rules for advertising etc have become more stringent while NBFC depositors now have the ability to withdraw funds within 3m / 1 year in case of emergencies which was not the case earlier (there was a 1-year lock-in).
FII’s were sellers during August while DII’s have already bought around 34k crore worth of equities this month.
With bigger concerns abating, markets could now move back to all-time highs.
Q. 2007 Vs 2024 – Is it different this time around
Why the US markets have gone up - Read More
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Most of the Market decline will happen post interest rate cuts - Read More
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