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๋ถ์ ์ At Least 32 Dead, 200 Injured In 7.8 Magnitude Earthquake In Philippines
It was the strongest quake to strike the Philippines this year.
๐ฎ๐ณ ์ธ๋ ยท "STRONGEST" ยท ์ด 16๊ฑด
ํํฐ ๋ณด๊ธฐํ์ฌ ์ง์
48.1
0 = ๋ถ์ ์ฐ์ธ
50 = ์ค๋ฆฝ
100 = ๊ธ์ ์ฐ์ธ
์ต๊ทผ 7์ผ ๊ธฐ์ค 5,287๊ฑด์ ๋ถ์ํ ๊ฒฐ๊ณผ, ๋ด์ค ์ฌ๋ฆฌ์ง์๋ 48.1(๊ท ํ)์ ๋๋ค. ๊ธ์ 497๊ฑด(9.4%)ยท์ค๋ฆฝ 3,566๊ฑด(67.4%)ยท๋ถ์ 1,224๊ฑด(23.2%)์ด๋ฉฐ, ์ค๋ฆฝ ๋น์ค์ด ๋๋ ทํ๊ฒ ๋์ต๋๋ค. ์ฑํฅ ์ง์๋ ์ข ํฉ 13.1(์ค๋ ๊ท ํ)์ ๋๋ค.
It was the strongest quake to strike the Philippines this year.
MANILA: Tsunami warnings were โissued after an earthquake of magnitude 7.8 struck โoff Mindanao in the southern Philippines on Monday, the German Research Centre for Geosciences said.The quake struck at a depth of 10 โkm (6.2 miles), โ GFZ โ said. The geophysics agencies of the Philippines and neighbouring Indonesia issued tsunami โwarnings. There were no immediate reports of major damage in either โcountry.GFZ had earlier pegged the earthquake at 8.2. The U.S. Tsunami Warning System issued a tsunami threat to โthe earthquake.Phivolcs, the Philippine agency, said the โ quake was magnitude โ7.0 and warned of damage โand tsunami โwaves above one metre (yard), which could continue for โ several hours.Also read | Trump says he would not unfreeze Iran's assets ahead before deal is doneIndonesia's BMKG put the quake at โa 7.7 magnitude.Benjie Ancheta, police chief of โAlabel town in Sarangani in the Philippines, said the police building had some cracks immediately after the quake, which occurred during their flag-raising ceremony.Ancheta said there were no immediate reports of casualties, but some people fainted โfollowing the strong tremor."This is the strongest earthquake we've experienced," Ancheta told Reuters by phone.Also read | Obama casts a long shadow as a hefty Iran bill lands on Trumpโs deskWitnesses โin Indonesia's โnorthern city โ of Manado said the quake felt very strong.The Philippines and Indonesia are tectonically complex parts of the "Pacific Ring of Fire", โa seismically active belt stretching from South America to the Russian Far East.
While warning about the risk of a looming oil shock, Groww Mutual Fundโs equity chief, CA Anupam Tiwari, says multicap strategy together with bottom-up investing can work well in this market.Although there might be valuation concerns in some specific areas, the overall investment environment for active stock picking in mid and small caps has improved to some extent, he says in an interview with ET Markets.Edited excerpts from a chat:Markets have recovered from recent corrections despite geopolitical tensions. What is the market pricing that investors may be underestimating?Markets are showing signs of recovery from the fall due to the prospects of de-escalation and continued talks regarding the resolution of the Middle East crisis. Nevertheless, one possible threat that investors might be overlooking is the possibility of prolonged geopolitical instability that can cause oil prices to remain elevated for an extended period.Sustained higher energy prices could have broader implications for inflation, currency stability, corporate profitability, and economic growth. While markets appear to be pricing in a relatively benign outcome, any disruption that results in persistently elevated crude prices could have a more meaningful impact on the macroeconomic environment than is currently reflected in markets.With valuations still elevated in parts of the market, how should investors think about allocating money across large-, mid- and small-cap stocks today?Broad concerns regarding valuation levels in the market have cooled off in recent months. At the current juncture, close to one-third of the mid-cap space is priced below its five-year average valuation levels, whereas nearly half of the small-cap space is trading below its own five-year average valuation levels.Under these circumstances, although there might be valuation concerns in some specific areas, the overall investment environment for active stock picking in mid and small caps has improved to some extent. Here, a multicap strategy together with bottom-up investing can work well in uncovering better businesses.The multicap category has seen rising investor interest. What advantages does a multicap strategy offer in the current market environment compared to pure large-cap or mid-cap approaches?While the current phase is marked by heightened volatility, volatility is often uneven across segments. In such an environment, a multicap strategy may provide disciplined exposure across market caps within a single portfolio.This allows investors the relative stability and earnings visibility of larger companies, while also participating in the long-term growth potential of mid- and small-cap businesses. By maintaining exposure across segments, a multicap approach can help reduce over-reliance on any single category and provide a more balanced way to navigate changing market conditions.One of the key benefits of a multicap strategy is that it removes the burden of market-cap allocation from investors. Determining when to allocate across segments can be challenging, particularly as market leadership often shifts across cycles. A multicap strategy addresses this by embedding this decision within a disciplined investment framework, freeing investors from having to make often difficult and timing-sensitive allocation calls.From a long-term perspective, multicap funds can serve as a core equity allocation for investors, enabling investors to participate in India's growth story through a combination of established market leaders and emerging businesses.Many retail investors continue to favour mid- and small-caps despite recent volatility. Is the risk-reward equation still attractive in these segments?While mid- and small-cap stocks are generally more exposed during periods of market volatility, the opportunity set within these segments has improved as valuations have moderated across several pockets of the market while business fundamentals have remained intact and even improved in several pockets.Rather than looking at mid and small caps as segments, investors should focus on a disciplined investment framework. Selective opportunities continue to exist despite volatility, making active stock selection increasingly important in determining outcomes.Which sectors currently offer the strongest earnings visibility, and where are you finding opportunities despite market volatility?We continue to focus on sectors where earnings visibility remains relatively strong despite broader market volatility. Financials remain a key area of interest, supported by reasonable valuations, stable asset quality, improving credit growth, and a favorable funding environment, particularly within select NBFCs and mid-sized financial institutions.Within industrials, we remain constructive on themes such as power transmission & distribution, renewable energy, and defence, where order books remain healthy and policy support continues to drive long-term demand. In the auto space, we continue to see opportunities linked to premium consumption trends, EV adoption, and select auto-component manufacturers benefiting from structural drivers such as exports, and regulatory and policy changes.We are also positive on specialty chemicals, particularly businesses with strong contract manufacturing franchises, niche product portfolios, and long-term customer relationships. If you had to allocate fresh money today, which market-cap segment would receive the highest allocation and why?Our equity investment philosophy, QGaRP (Quality and Growth at a Reasonable Price), is market-cap agnostic and driven primarily by stock selection rather than segment-level calls. We seek to invest in businesses that combine high quality management, growth potential, and valuation comfort.That said, our multicap strategy has historically maintained a growth-oriented tilt towards mid- and small-cap companies. With valuations having moderated across several pockets of the mid- and small-cap universe, we believe the environment has become more conducive in these segments for active stock selection.As a result, while we continue to maintain a diversified allocation across market caps, we remain constructive on selectively identifying opportunities within the mid- and small-cap space where fundamentals, growth prospects, and valuations are aligned with our philosophy.
A wave of optimism over South Korean stocks is giving way to growing caution, as some investors hedge positions and pare back crowded trades on concerns that the rally has run too hot, too fast.Hedge fund Golden Horse Fund Management has trimmed exposure and added derivative protection, while M&G Investments has cut memory and foundry holdings to broaden out down the AI supply chain. A Bloomberg Intelligence analysis of options on the iShares MSCI South Korea ETF shows investors seeking protection against a decline. The fund tumbled 14% Friday in the US.The moves highlight the challenge facing global money managers. While investors remain upbeat about Samsung Electronics Co. and SK Hynix Inc., the two chip giants that powered Kospiโs more than 90% rise this year, many are becoming pickier about where to put new money and keeping cash ready for opportunities elsewhere.Fridayโs selloff in US tech stocks, driven by fears of higher interest rates, shows how quickly popular trades can unwind once sentiment shifts. That risk could spillover into Korea once local markets open.โWeโve been trimming gross exposure at the margin and layering derivative protection over the last few weeks,โ said Yi Ling Ong, managing partner at Golden Horse Fund. Several large IPOs, including a SpaceX listing this month, could lead to rotation as funds raise cash to participate, making it โprudent to hold some dry powder,โ she said.131561937Over the past year, Korean stocks captured global attention as a combination of the AI boom and the governmentโs successful corporate reform propelled the index to new highs. Strong earnings potential continues to underpin bullish sentiment, but the extended rally has led to crowding in a few major players, leaving the market vulnerable to abrupt reversals. The benchmark tumbled 7% at one point on Friday.The caution is showing up in the derivatives market.โThe debate isnโt whether the Kospi story remains attractive โ itโs how to stay invested without giving back a portion of the gains,โ said Tanvir Sandhu, global chief derivatives strategist at Bloomberg Intelligence. Options activity in the EWY ETF suggests investors are becoming more cautious, with demand shifting from upside exposure to downside protection, he said.Some investors are looking for opportunities beyond Samsung Electronics and SK Hynix, whose meteoric rise propelled them into the $1 trillion valuation club and helped Korea briefly overtake India as the worldโs sixth-largest stock market.โThe alpha lies lower down the value chain โ in the picks-and-shovels of the picks-and-shovels,โ said Vikas Pershad, portfolio manager at M&G, referring to companies that benefit from spending on AI infrastructure without being at the heart of the trade.Not Bearish To be sure, the rotation doesnโt signal investors turning bearish on Korea. Valuations remain cheaper than in rival tech hub Taiwan and investors say the market still offers one of the strongest AI-linked stories in global equities. At 8.6 times forward earnings, the Kospi trades below its five-year average of 10 times and is much cheaper than Taiwanโs benchmark, which trades at about 20 times, data compiled by Bloomberg show.Earnings upgrade cycle has also started to broaden. Excluding Samsung and SK Hynix, the rest of the Kospi is now expected to deliver more than 50% profit growth this year, up from just 20% in January, according to Golden Horse Fund. 131561965โThe speed of the rally has been vertiginous but in this type of market I would rather let the rally continue,โ said Rajeev De Mello, global macro portfolio manager at Gama Asset Management SA. โExiting now will make it very difficult to re-invest later if the market doesnโt correct.โStill, foreign outflows have become a concern. Global funds have pulled a record $76 billion this year, selling in every session over the past month. While part of the retreat is due to technical limits on single-stock holding, the selling has been absorbed by more fickle retail investors โ a dynamic that may heighten volatility.At the same time, some investors are growing wary of rising retail leverage. The concern is that popularity of leveraged ETFs and the planned weekly single-stock options could amplify swings in an already-volatile market. While the products are โreally interestingโ and show retail participation is growing, they also leave the market โin somewhat of a precarious position in case of a reversal,โ Stephane Martin, head of derivatives institutional sales for Asia at Optiver, said at a panel discussion at Bloombergโs Volatility Forum last week. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Can the search for a hotel room lead to a business idea? It did, for Alok Mishra.In 2014, during a trip with his wife, Mishra needed a hotel room for six hours as he did not want to drive late at night. But he was asked to pay for a full day and subjected to a series of intrusive questions despite being marriedโand was finally refused a room. โThat got me thinking that there might be travellers like me who need rooms only for a few hours but have to pay for an entire day. Later, while working in the US, I came across pay-for-use concepts and felt that India needed a more flexible, customer-friendly model,โ he says.That experience led to the launch of Bag2Bag in 2019, an online platform for booking hotels, service apartments, homestays and other accommodations, with a focus on hourly stays.The business started gaining momentum around 2021. Bag2Bagโs hourly-stay revenue has risen from roughly Rs 50 lakh in 2021 to Rs 5-6 crore today. The company has served more than 1 lakh customers, lists over 10,000 properties across India and offers hourly stays at 6,000-7,000 of them. The service is available in more than 50 cities, though Bengaluru and Mumbai remain its strongest markets.Also read | The safe keepers: Inside India's booming locker economyโPeople now understand that this is a practical solution rather than a niche service. One of our biggest achievements has been to help normalise the category. Earlier, hourly stays were often associated with couples seeking privacy,โ he says. โWe deliberately broadened the use case by allowing family bookings, including travellers with children. We wanted people to see hourly stays for what they really areโ a convenient accommodation option.โHOUR OF NEED That convenience is growing as online hotel booking platforms that allow short stays are on the rise. Alongside Bag2Bag, there is Noida-based Brevistay, Bengaluruheadquartered MiStay, Mumbaiโs Hourly Rooms and Qwiksta, all specialising in micro stays. Larger travel platforms like MakeMyTrip, Agoda and Goibibo have also introduced hourly booking options.Like Bag2Bag, Brevistay was born out of a travel inconvenience. In 2016, cofounders Prateek Singh, Aditya Naithani, Shubham Agarwal, Avnish Kumar and Nikhil Pathak arrived in Manali at 5 am only to find that hotels would not allow early check-ins without charging for an extra night. The friends went on to cofound the travel tech startup Brevistay, which raised Rs 3 crore in 2023 and today reports revenue of about Rs 18 crore. It has 15 lakh registered users, 4 lakh monthly active users and around 11,000 listed hotels, including brands such as Ginger, Ramada and Blue Motel.LONG JOURNEY Getting there, however, was not easy.Pathak, cofounder and chief technology officer of Brevistay, says, โThe challenge in this segment is not customers but hotels. In 2016, many hoteliers would simply bang the phone on us. Some agreed in principle but didnโt want their properties listed publicly and preferred bookings to come through offline calls. It took us nearly two years before we started seeing meaningful traction and recurring bookings,โ says Pathak.The same resistance greeted MiStay when it launched in 2016. Starting with a pilot in Delhi, MiStay has since expanded to more than 100 cities. Shwetha Sameernath, general manager, business and growth, MiStay, says, โWhen we launched, scepticism was high. Most hotels were uncomfortable with the model, concerned about guest quality and operational challenges. Over time, that changed as hotels began seeing it as a revenue opportunity.โMiStay tackled resistance through education and curation. The company worked to show hoteliers that short stays served a broad and legitimate market of business travellers, transit passengers and day-use guests. It also selectively onboarded premium hotel brands, helping build credibility for the category. โWhen hotels see actual customer segments across varied, legitimate use cases, it builds their confidence that the model wonโt compromise their brand,โ says Sameernath, adding that the concept is now largely normalised.Also read | Major change in buyer behaviour as e-scooters race deeper into BharatPathak says the customer has evolved as well. Brevistay continues to market actively to couples, but he argues that the category should no longer be viewed through that lens. โThereโs nothing illegal happening. In fact, thereโs no law that prevents consenting adults from booking a hotel room. The issue was perception, not legality. What eventually changed minds was revenue,โ he says. โOnce hotels realised they could sell the same room multiple times in a day and generate seven or eight bookings instead of one, the business case became impossible to ignore.โThe use cases have expanded too. Back in 2017, couples accounted for nearly 90% of Brevistayโs bookings. Today, that figure is down to 50-60%. Business travellers, transit passengers, tourists looking to freshen up between journeys, students travelling for exams and people attending interviews or meetings have all emerged as important customer segments.Hotels, meanwhile, have had to adapt operationally. Mishra says the biggest challenge is that traditional hotel system was never designed for flexible check-ins and check-outs. Bag2Bag addressed this by developing its own software platform for partner hotels. โOnce they realised they could monetise idle inventory and generate additional revenue from rooms that would otherwise remain empty, adoption became much easier,โ he says.REVENUE CHECKS IN For Sameernath, the turning point was the entry of premium hotel brands. โToday, acceptance has grown across the ecosystem. Channel managers and property management systems are evolving to support slot-based bookings, and customers increasingly treat hourly booking as the natural way to reserve a room for less than a day,โ she says.Also read | Indian tourists go viral for all wrong reasons. Here's how not to become the next horror storyMishra has observed another interesting shift. Reliability and brand trust are becoming increasingly important. โWhether itโs a three-star or a five-star property, even if a branded hotel costs 20-25% more, customers prefer it because they know what theyโre getting,โ he says. The economics are compelling for hotels too. Sameernath points out that average hotel occupancy in India is under 65%, while daytime occupancy can fall to as low as 30% as guests check out in the morning and new arrivals come in much later. Platforms like MiStay help hotels monetise those idle hours by attracting guests who would never have booked a full-day room. โFor hotels near airports or railway stations, the upside is even greater. A room priced at Rs 8,000 for a full night could earn Rs 3,500-4,000 for a daytime slot and another Rs 6,000 for the nightโgenerating `10,000-plus from the same room in a single day,โ she says.CHANGING PERCEPTION MiStay today works with brands like IHG, Pride, Ramada, The Park, Radisson and Novotel IHG, while Brevistay is in discussions with Hyatt. Sameernath says that on the demand side, once customers experience flexible booking, they donโt go back. Their repeat rate reflects this, as 48% of MiStayโs monthly business comes from repeat guests โThe pay-per-use model in hospitality is the same transformation that happened in transport. You no longer book a cab for a full day; you pay for the distance. Hotels are heading the same way,โ she says.Pathak believes the next wave of growth will be driven by younger travellers. โTheyโre vocal about spending time with their partners and donโt carry the hesitation earlier generations did. In metros, the industry has largely moved beyond the old perceptions, and hourly stays are increasingly viewed as a convenience product rather than something unusual.โThe customer, it seems, has reached the destination. The hospitality industry needs to arrive.ChallengesPersistent social stigmaTrust and safety concernsBranded hotels worried about perceptionComplexities in managing multiple check-ins and check-outsLack of awareness among travellersOpportunitiesRise in domestic travel and frequent short tripsGrowth of bleisure (business + leisure) travelYounger consumers demanding flexibilityTech platforms making discovery and booking seamlessHotels looking to monetise vacant rooms
US President Donald Trump has spent years attacking his predecessor Barack Obama for what he called a giveaway to Iran. The image of "pallets of cash" became one of his favorite political talking points, a symbol of what he portrayed as weakness in dealing with Tehran.Yet the irony of the current moment is becoming harder to ignore. As negotiations to end the latest US-Iran confrontation stall, Iran is demanding access to billions of dollars in frozen assets, and the success of any deal may depend on whether Trump agrees to some form of financial relief. The president who built his Iran policy around rejecting Obama's approach may now find himself confronting the same reality that faced previous administrations -- diplomacy with Iran often comes with a price tag.Pay $12 billion now, and $12 billion laterAn indication of how central money has become to the negotiations came from Mohsen Rezaei, military adviser to Supreme Leader Ayatollah Mojtaba Khamenei, in an exclusive interview with CNN. According to Rezaei, the negotiations have reached a deadlock and the responsibility for breaking it lies squarely with Trump. He said Iran wants the release of $24 billion in frozen Iranian assets, with $12 billion to be made available immediately after an interim agreement is signed and another $12 billion at a later stage.Also Read | Iran says frozen funds key to progress in US talksRezaei termed the demand not a concession from Washington but as a test of American intentions. "If he wants to reach an agreement with Iran, this $24 billion is a test of trust that Iran wants to have with Trump," he told CNN. "This is our own money, not America's money."The significance of the demand extends beyond the amount involved. By publicly linking the prospects of peace to the release of frozen assets, Iran has effectively made financial compensation the central political hurdle in the negotiations.Trump's Obama problemFor Trump, the issue is not as much financial as deeply political. CNN reported that Trump has repeatedly instructed his team that any agreement with Iran must be viewed as stronger than the 2015 nuclear accord negotiated by Obama. Equally important, he wants to avoid anything that resembles the controversial payments that became a focal point of Republican criticism a decade ago.Throughout his political career, Trump has portrayed the Obama administration's handling of Iran as evidence of weak leadership. Recently, he revived his criticism of the Joint Comprehensive Plan of Action, or JCPOA, describing it as a horrible deal and insisting that any agreement he reaches will be far better. That political history now threatens to constrain his negotiating options. A deal that includes billions of dollars flowing to Iran could invite immediate comparisons with the very agreement he spent years denouncing.Also Read | Iran retains about 22% of missile stockpile, says TrumpWhat Obama actually didThe comparison is unavoidable because financial relief was also a major feature of the Obama-era approach. The JCPOA, finalized in 2015 after negotiations between Iran and the P5+1 powers, imposed strict limits on Iran's nuclear activities in exchange for sanctions relief. The agreement capped uranium enrichment, reduced centrifuge capacity and established what experts described as one of the most intrusive inspection regimes ever negotiated.The deal also coincided with the release of $1.7 billion to Iran, a figure that Trump and other critics frequently cited as evidence of appeasement. Critics argued that sanctions relief and financial compensation rewarded Iranian behaviour across the region.Supporters of the agreement took a different view. They argued that much of the money involved consisted of Iranian assets that had already belonged to Iran and that the deal successfully halted Tehran's progress toward a nuclear weapon while providing unprecedented transparency into its nuclear program.Former US Energy Secretary Ernest Moniz, who helped negotiate the agreement, told CNBC that the JCPOA's most important achievement was its extraordinary verification system. Arms control experts similarly maintain that the deal effectively constrained Iran's nuclear ambitions before it unraveled.Why the current situation is more difficultThe irony for Trump is that negotiations now are taking place under conditions far less favorable than those that existed in 2015. After the US withdrew from the JCPOA in 2018, Iran gradually breached many of the agreement's restrictions. It expanded uranium enrichment, accumulated a much larger stockpile of nuclear material and scaled back some transparency measures.Many think that any new agreement must address a more advanced Iranian nuclear programme and a more complicated political environment. There is also the added challenge of rebuilding trust after years of mutual escalation. That reality means economic incentives have become even more important. Tehran is demanding tangible benefits upfront rather than promises of future relief. From Iran's perspective, accepting new restrictions without immediate financial gains would be politically difficult.Trump's search for a political workaroundTrump's advisers are acutely aware of the political risks. According to CNN, administration officials are exploring mechanisms that would allow Iran to receive financial relief without creating the appearance of a direct US payment. One possibility involves third countries such as Qatar releasing funds. Another would permit access to frozen assets while restricting their use to humanitarian purchases such as food, medicine and agricultural goods. There have also been discussions about creating reconstruction funds financed largely by Gulf states rather than the United States.These proposals reflect an important reality. The debate is no longer about whether Iran should receive economic relief at some stage. It is increasingly about how that relief can be structured so that Trump can claim he has not repeated Obama's mistakes. In that sense, the dispute is becoming as much about political messaging as about financial policy.Leverage versus peaceThe White House remains reluctant to surrender what it views as one of its strongest bargaining tools. Trump has publicly insisted that the United States will retain control over frozen Iranian funds until Iran meets Washington's demands. Secretary of State Marco Rubio has similarly emphasised that sanctions relief should follow compliance rather than precede it.The administration's concern is straightforward. Once funds are released, Washington loses a major source of leverage. That leverage could prove critical during the highly technical second phase of negotiations focused on Iran's nuclear program. Iran, however, sees the issue differently. For Tehran, immediate access to frozen assets is evidence that the United States is negotiating in good faith. Without such a gesture, Iranian leaders appear unwilling to commit themselves to a broader settlement. That difference in perspective has created the current impasse.The choice facing TrumpThe strategic dilemma confronting Trump is becoming increasingly clear. He can maintain a hard line and refuse any significant financial concession, preserving political consistency but risking the collapse of negotiations. Or he can accept some form of economic relief for Iran, potentially unlocking a broader peace agreement but exposing himself to accusations that he has embraced a version of the same approach he once condemned.Rezaei's comments to CNN show how central that decision has become. By presenting the release of $24 billion as a test of trust, Iran has effectively challenged Trump to choose between ideological purity and diplomatic pragmatism. For a president who built his Iran policy in opposition to Obama's legacy, that may be the most uncomfortable choice of all. If peace ultimately requires releasing billions of dollars in frozen Iranian assets, Trump would be seen as eating his words when he had asked Iran for complete surrender.
Ram Charan's 'Peddi' experienced a significant box office drop on its second day, collecting Rs 26.90 crore net, a 47.3% decrease from its opening. Despite this, the film has amassed Rs 96.40 crore net domestically and Rs 150.49 crore worldwide. The Telugu market continues to be its strongest performer, with impressive occupancy rates.
For most investors, the focus is often on finding the right stock, entering at the right valuation, and identifying the next multibagger. Far fewer spend time understanding what may be the more difficult aspect of investingโknowing when to sell.Speaking at the ET Alpha Wealth Summit on Thursday on "The Art of the Exit," Rajiv Thakkar, CIO and Director at PPFAS Asset Management said that successful investing is not just about buying well but also about staying invested long enough for compounding to work. In fact, before discussing reasons to sell, he spent considerable time explaining why investors should avoid selling in the first place.According to Thakkar, one of the biggest mistakes investors make is selling because a stock has not moved for a few months.Also Read | ET Alpha Wealth Summit: Future alpha may emerge from neglected markets and asset classes, says Kalpen Parekh Investors often spend significant effort researching a company, understanding management quality, assessing industry prospects and evaluating valuations. Yet after purchasing the stock, many lose patience if prices remain stagnant for six months or a year.https://youtube.com/shorts/RiLj-X02NNE?feature=share"Investments are meant for wealth creation, not entertainment," he said, cautioning against treating investing like a source of excitement or constant action.Another common trigger for unnecessary selling is reacting to news flow. Markets are constantly bombarded with informationโwars, elections, crude oil fluctuations, interest-rate decisions, capital flows and economic data. Investors who react to every headline often end up making poor decisions.To illustrate this, Thakkar recounted the story of an investor who received advance information about the severity of the Covid outbreak in early 2020. Acting on that information, the investor sold his technology stocks before the market crash. While the prediction turned out to be accurate, fear prevented him from re-entering the market, and he ultimately missed one of the strongest rallies in technology stocks.The lesson, according to Thakkar, is that even correct information does not necessarily translate into successful investment outcomes. Thakkar was particularly critical of the concept of "profit booking."Investors often feel compelled to sell simply because a stock has appreciated significantly. However, he argued that wealth is created by allowing successful investments to compound rather than by repeatedly locking in gains.Frequent buying and selling may benefit brokers, exchanges and tax authorities, but it often works against long-term investors. Hyperactivity in portfolios can destroy wealth by interrupting compounding and increasing costs.Similarly, investors should avoid selling because another stock appears more attractive. This "buyer's remorse" mindset frequently causes investors to abandon good businesses prematurely in pursuit of seemingly better opportunities."If you manage to find a genuinely good business with strong management, a large opportunity set and reasonable valuations, the best course of action is often to simply stay invested," he said.Thakkar emphasised that investors in taxable jurisdictions such as India should maintain low portfolio turnover whenever possible. Unlike institutional structures such as mutual funds or investors in tax-free jurisdictions, individual investors face taxes and transaction costs every time they trade. Excessive churn can significantly reduce long-term returns.For wealthy investors, family offices and HNIs, the ability to remain invested and minimise unnecessary transactions often becomes a major source of compounding advantage.Also Read | ET Alpha Wealth Summit: India could unlock a $5 trillion export opportunity through FTAs, says Saurabh Mukherjea While most reasons for selling are flawed, Thakkar identified several situations where exiting an investment becomes necessary. The most obvious reason is the need for capital. If an investor requires money for a business opportunity, acquisition or personal objective, selling investments may be entirely justified. More importantly, investors must be willing to acknowledge mistakes.If an investment thesis turns out to be wrong because of flawed analysis, poor due diligence or changing circumstances, the best course is often to exit quickly rather than averaging down endlessly.According to Thakkar, investors who recognise mistakes early frequently outperform those who identify good opportunities but refuse to sell losing positions. Capital trapped in poor investments cannot be deployed into better opportunities. Fraud, naturally, represents an immediate reason to exit.One of the more challenging selling decisions arises when industries face structural disruption. Questions such as whether newspapers can survive the internet, whether thermal power can coexist with renewable energy or whether traditional automobile manufacturers can adapt to electric vehicles rarely have straightforward answers.Thakkar suggested that investors should not react impulsively but should continuously evaluate incoming evidence. Investment decisions should be driven by facts rather than sentiment. If the underlying business continues to deteriorate because of technological or structural change, investors must eventually acknowledge reality and exit.At the same time, distinguishing genuine disruption from temporary noise remains critical. Exceptional businesses are not immune to becoming overvalued. Thakkar pointed to situations where valuations become so excessive that future growth is already fully reflected in stock prices. In such cases, taking profits, paying taxes and reallocating capital may be sensible.He also noted that investors may sell a reasonably valued investment if a significantly superior opportunity emerges elsewhere.During the question-and-answer session, investors raised concerns about stocks that stop performing despite sound fundamentals. Examples such as Maruti Suzuki, Bharti Airtel and even silver investments highlighted a common dilemma: should investors exit after years of gains and subsequent consolidation?Also Read | MF Tracker: Can ICICI Prudential Multicap Fund sustain its strong track record in a volatile market? Thakkar's response was that even excellent businesses can spend years moving sideways. Companies such as Hindustan Unilever, Infosys and Bharat Electronics have all gone through extended periods of stagnant share-price performance despite remaining fundamentally strong businesses.Investors should therefore distinguish between stock-price performance and business performance. As long as the underlying business continues to execute well, temporary market stagnation alone is not a sufficient reason to sell.For investors worried about selling too early, Thakkar recommended a phased approach. Instead of attempting to identify exact market tops, investors can gradually reduce exposure over time. For instance, if a stock appears significantly overvalued, an investor might sell a portion every month rather than exiting entirely in one transaction.This systematic approach helps manage the emotional difficulty of selling while reducing the risk of poor timing. Another important consideration is position sizing. Addressing a question about highly successful investments such as Nvidia, Thakkar noted that even outstanding businesses can become disproportionately large components of a portfolio.When a single stock grows from a small allocation into a dominant position, investors face a different riskโwealth preservation rather than wealth creation. His solution is gradual trimming. Investors can periodically reduce oversized positions to maintain comfortable portfolio weightings while still participating in future upside.This approach may not maximise returns, but it significantly reduces the risk of catastrophic losses and helps investors sleep better during periods of volatility.Thakkar concluded by stressing the importance of diversification and long-term investing. Most individuals create wealth through a single business, profession or sector. Their financial portfolios should therefore diversify away from that concentration rather than amplify it.Whether through mutual funds, retirement vehicles such as NPS, EPF and PPF, or diversified portfolios, investors should focus on owning inflation-protected assets for long periods. "The lower the churn in a portfolio, the greater the opportunity for compounding," he said.Ultimately, successful investing is not about perfectly timing every entry and exit. It is about avoiding unnecessary activity, admitting mistakes quickly, remaining patient with good businesses and ensuring that no single investment becomes large enough to threaten long-term financial stability.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)If you have any mutual fund queries, message on ET Mutual Funds on Facebook/Twitter. We will get it answered by our panel of experts. Do share your questions on ETMFqueries@timesinternet.in alongwith your age, risk profile, and Twitter handle.
Mumbai: Information technology stocks surged on Monday, dodging a weak broader market, with the Nifty IT index closing at its highest level since April 23, as attractive valuations and recent AI-led partnerships drew investor interest and prompted traders to build some fresh long positions.The Nifty IT index advanced 2.7%, its strongest single-day gain in nearly two weeks (since May 19), even as the benchmark Nifty declined 0.7%. Tech Mahindra, Infosys and LTM rose 3.7% each, while Persistent Systems gained 3.6%. Coforge and Oracle Financial Services Software advanced 2.6% and 2.1%, respectively."Indian IT firms are following suit of American companies like Anthropic and OpenAI by taking up contracts and tie-ups which are perceived as promising by investors," said Gaurav Sharma, head of Research, Globe Capital.Wipro's expanded Agentic AI partnership with ServiceNow and Coforge's acquisition of Encora have helped ease concerns that had weighed on the sector earlier due to AI-linked disruption fears.The rebound comes after a sharp underperformance this year. The Nifty IT index has fallen over 21% so far in 2026, compared with a 10.5% decline in the benchmark Nifty. The recent momentum has turned positive, with the IT index gaining about 3% over the past week, while the Nifty has fallen 2.7%.131452365"The open interest has doubled in the past couple of months in large-cap IT stocks, indicating a huge build-up of short positions," said Jay Vora, Technical Analyst, Mirae Asset Sharekhan. "On Monday, while short positions remained as is, traders built fresh long positions in the space."Vora said that a more meaningful short covering rally would require stocks to move above key technical levels, with most large-cap names currently 2-3% below their 40-day exponential moving averages."There are short positions in the midcap IT companies as well, but it is not as significant as the large caps," he said.The rebound in IT shares is also on account of valuations falling below 10-year averages following the recent sell-off."Large-cap names like TCS and Infosys are trading at mouthwatering levels, close to 16-17 times Price to Earnings, while midcap companies like Coforge, Oracle and Mphasis are around 20-30 times PE, which are attractive," Sharma said.While near-term volatility may persist, valuations remain compelling over a two-to-three-year horizon, he said. Sharma's top picks are OFSS, Tech Mahindra, Coforge and Mphasis, and recommends IT Exchange Traded Funds for retail investors.The momentum favours IT stocks now, though the index is nearing key hurdles."Technically, the Nifty IT index has immediate support established at the 29,300-28,900 zone, while initial resistance is positioned at 30,500, with a broader multi-week position of 31,200," said Nischal Jain, Quant Researcher, Share.Market by PhonePe.Sharma said the Nifty IT index is on the verge of a breakout from an inverse head and shoulder pattern, which could extend the rally towards 31,500.
The long wait for the NSE public listing appears to be entering its final stretch. The exchange recently confirmed that it expects to file its draft red herring prospectus (DRHP) by the second week of June, putting the country's most anticipated IPO one step closer to reality.The update has once again sparked interest in NSE's unlisted shares, which continue to change hands actively in the private market. With the DRHP now less than two weeks away, investors may want to know does it still make sense to buy NSE shares before the IPO?The answer from analysts is nuanced. Most experts agree that NSE remains one of India's strongest financial franchises. However, they also caution that investors should not treat the approaching IPO as an automatic opportunity for quick gains.NSE currently trades in the unlisted market at around Rs 1,950-2,050 per share, implying a valuation of roughly Rs 5 lakh crore. That valuation already reflects significant optimism around the company's eventual listing."NSE is clearly one of India's strongest capital-market franchises and remains one of the most awaited IPO candidates. However, investors looking to buy unlisted shares purely because the DRHP filing is close should exercise caution," said Paresh Bhagat, CIO of Veer Growth Fund and chairman of Mangal Keshav."The business quality is not in question. The key risk is valuation and entry price." Bhagat noted that based on FY26 profit after tax of around Rs 10,300 crore, the exchange is already valued at nearly 48-50 times earnings.While NSE enjoys dominant market share, strong profitability and significant cash generation, he believes much of that strength is already reflected in current unlisted market prices. One of the biggest assumptions among investors is that buying shares before the IPO guarantees a profit once the company lists. Analysts say that assumption may not always hold true.The eventual IPO pricing remains unknown. In many large public offerings, companies deliberately leave room for public market investors by pricing the issue below prevailing unlisted market valuations.If that happens, investors entering NSE at current unlisted prices could face limited upside or even temporary mark-to-market losses. "The pre-IPO window should not be seen as a guaranteed arbitrage opportunity," Bhagat said. "If the IPO is priced more reasonably for public-market investors, the gap versus current unlisted prices could be meaningful."Others echo the same concern. "I would avoid buying NSE unlisted shares purely on the expectation of the upcoming DRHP filing," said Arpit Jain, Joint Managing Director at Arihant Capital Markets."While the filing could be an important milestone in the IPO journey, a significant portion of the optimism around the listing is already reflected in the current unlisted market price." Jain pointed to several high-profile IPOs in recent years where strong excitement before listing did not necessarily translate into exceptional post-listing returns.He said investors should focus on valuation, offer pricing, market conditions and the final IPO structure rather than rushing to buy shares simply because the DRHP is approaching.At the same time, few analysts dispute the quality of the underlying business. NSE remains India's largest stock exchange and dominates equity derivatives trading. The exchange reported total income of Rs 18,713 crore and consolidated net profit of Rs 10,302 crore in FY26.Its capital-light business model, strong cash flows and dominant market position have made it one of the most sought-after names in the unlisted market.According to Nitant Darekar, Research Analyst at Bonanza, NSE currently trades at around 45 times FY26 earnings, based on earnings per share of Rs 41.62. While that valuation is not cheap, it remains below some listed peers."NSE remains a capital-light near-monopoly," Darekar said. "At around Rs 1,950-2,170 in the unlisted market, it trades near 45x FY26 earnings. That's rich, but below BSE at around 70x and MCX at around 80x."Darekar added that the recent settlement of the long-running co-location case has removed a major overhang on the IPO process. However, he cautioned that the exchange's earnings remain linked to derivatives trading activity, which can be volatile, especially after regulatory changes in the futures and options segment.He also highlighted another practical consideration for investors. "The urgency is real. Post-DRHP, fresh unlisted purchases face a one-year lock-in. But valuation, not the calendar, should drive the decision."That point is particularly important because many retail investors view the narrowing pre-IPO window as a reason to buy immediately.Ishan Tanna, Senior Associate at Ashika Capital, said history suggests otherwise. "Historically, buying unlisted shares very close to the IPO stage has not always offered the best risk-reward for investors," he said."In many cases, the biggest gains are made when IPO visibility is low and uncertainty is high. Once the DRHP gets filed and listing draws closer, valuations often become expensive as the IPO excitement premium starts getting priced in."Tanna said NSE remains a rare financial infrastructure asset with strong profitability and a dominant position in Indian capital markets, making it attractive for long-term investors.However, investors chasing quick listing gains should recognise that late-stage entry into pre-IPO stories often carries greater risks than many assume.For now, the consensus among market experts is that NSE remains one of India's highest-quality businesses and its IPO will likely attract enormous investor interest. But with the stock already trading at elevated valuations in the unlisted market, investors may need to focus less on the countdown to the DRHP and more on whether the current price adequately compensates them for the risks ahead.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Mumbai's property market achieved a record high in May 2026 with 12,315 registrations, a 7% year-on-year increase. This marks the strongest May performance in 14 years, reflecting robust end-user demand and buyer confidence. Despite a slight dip in stamp duty revenue due to a shift in transaction mix, the market fundamentals remain strong.
New Delhi: Defeat on the mat did not make Vinesh Phogat feel like a loser.After her comeback bid ended in the Asian Games selection trials on Saturday, the former world championships medallist declared that she had already won by returning to competition after motherhood and by standing up to a system she claimed had done everything possible to keep her away from wrestling."I have not failed at all. I am fighting the whole system and I am still standing with pride on the mat again," Vinesh toldafter her 4-6 semifinal loss to Meenakshi Goyat, while reiterating her ambition of competing at the 2028 Los Angeles Olympics.Minutes after suffering defeat, Vinesh launched a scathing attack on the wrestling administration, alleging discrimination, mental harassment and attempts to block her return to competitive wrestling despite court orders in her favour.Also read | IPL 2026 Purple Cap winner list: Most wickets, updated standings and bowling rankings"They wanted to stop me from returning to the mat, but I am standing here again. I am proud of what I have achieved in these 10 months."I know the system will continue to create challenges for me, but I have hope that through hard work I can leave the system behind and move forward," she added, refusing to view the semifinal defeat as a setbackVinesh, who was competing for the first time since her heartbreaking disqualification from the Paris Olympics final in 2024, said her biggest achievement was returning to elite competition after childbirth. She said returning to competition after motherhood and after months of legal and administrative battles felt like a victory."It has been only 10 months since my son was born. I am standing on the mat again and competing against the younger generation. I am proud of myself. I hope I can inspire my son and many women wrestlers," she said.Vinesh described the Delhi High Court order that enabled her participation in the trials as a landmark moment for women wrestlers seeking to return after motherhood."A girl is coming back to the mat after becoming a mother. The path has opened. Sooner or later there has to be a policy. Women wrestlers who want to return after becoming mothers should get a fair opportunity and some relaxation," she said.The 31-year-old alleged that even after the court's intervention, officials continued to create obstacles for her.Also read | Liverpool sack Slot after title defence turns into European scrambleShe said that she spent nearly an hour arguing with officials on Saturday morning after being informed she would be allowed to compete only in the 50kg category despite wanting to participate in 53kg."When I should have been focusing on my recovery and preparation, I was arguing with officials. They gave me a letter saying I could compete only in 50kg. It was mental harassment," she said.Vinesh claimed that the entire process was designed to put her at a disadvantage, alleging that stronger wrestlers were deliberately placed in her draw and that scheduling decisions drained her energy before the semifinal."I was not given a fair deal. All the strong girls in my category were put in my path. The bouts were scheduled in a manner that affected my energy levels," she alleged.Despite the grievances, Vinesh accepted responsibility for her defeat and admitted that a lack of competitive exposure and endurance hurt her performance."I accept my defeat. I will work harder and return stronger. Fitness and endurance were issues, but more than that, I needed competitions. I had not competed for nearly two years. This was my first tournament after becoming a mother," she said.She insisted that Saturday's performance convinced her that she still has enough ability to compete with the country's best wrestlers."I was motivated today. I know I can beat the younger girls. I still have that courage and belief. If I work hard, I know I can come back stronger."Asked whether the 2028 Los Angeles Olympics remained a target, Vinesh replied in the affirmative."Definitely. I have come back to the mat for Los Angeles," she said.The wrestler reserved some of her strongest criticism for the sports administration, questioning why no institution had intervened despite repeated disputes surrounding her participation."The government, the Sports Ministry, the IOA -- nobody is taking a stand. This is very sad. If athletes have to survive despite the system, then something is seriously wrong," she said.She also alleged that many young wrestlers privately supported her but were afraid to speak openly against administrators."A lot of girls were happy to see me back on the mat. They come and talk to me but they are scared. They know what can happen if they speak against powerful people," she said.Vinesh, however, clarified that she has no complaints against fellow wrestlers and said athletes should not be blamed for the larger issues within the sport."The kids are not at fault. I don't have anger towards any athlete. The problem is with the people who manipulate and control the system," she said.
In an environment where global equities are swinging between optimism around AI-led growth and anxiety over persistent inflation, elevated interest rates, and geopolitical uncertainty, investors are once again being tested, not on intelligence, but on psychology.Charlie Mungerโs famous list of โhuman misjudgment tendenciesโ is not just a philosophical framework. It is, in todayโs market, a practical survival guide.Markets in 2026 are still being shaped by three dominant forces:(1) higher-for-longer interest rates, (2) liquidity concentration in a few mega-cap stocks, and (3) emotionally driven retail participation.Against this backdrop, Mungerโs behavioral warnings feel unusually relevant.1. The real enemy is not volatility, but emotional distortionMunger repeatedly warned that investors donโt lose money because they lack information, they lose because they misprocess it.Todayโs markets amplify that problem.Every CPI print, Fed commentary, or geopolitical headline triggers immediate overreaction. Investors are constantly pulled between fear of missing out (FOMO) in AI-led rallies and fear of correction during rate jitters.This is a classic combination of:Availability bias (overweighting recent news)Social proof (following crowded trades)Stress-induced reaction (panic buying or selling)In Mungerโs language, this is the setup for โavoidable stupidity.โ2. โEnvy and FOMOโ are silently driving modern portfoliosOne of Mungerโs strongest warnings was about envy, not as emotion, but as a financial destroyer.In todayโs market, envy doesnโt look like jealousy of a neighbour. It looks like:Chasing AI stocks after theyโve already rerated sharplyComparing portfolio performance with index benchmarks dailyAbandoning long-term positions because โothers are making faster moneyโWhen liquidity is abundant in a narrow set of names, envy becomes structurally embedded in portfolio behaviour. Investors are no longer asking โIs this a good business?โ but โAm I missing this move?โThat shift is dangerous in a market where leadership is concentrated and reversals can be abrupt.3. The โLollapalooza effectโ is stronger than everMunger described the Lollapalooza effect as multiple biases reinforcing each other into extreme outcomes.Todayโs version looks like this:Social media hype amplifies narrativesAlgorithmic flows reinforce momentumPassive inflows concentrate capital into large indicesRetail traders amplify short-term spikesThe result: prices detach from fundamentals faster, and corrections become sharper when sentiment shifts.This is why todayโs rallies often feel effortless, but reversals feel violent.4. Overconfidence is rising with โeasy market memoriesโA prolonged period of strong returns, especially in largecap tech, creates what Munger called โexcessive self-regardโ.Many investors now assume:โBuying dips always worksโโQuality stocks never go down muchโโThe Fed will rescue markets eventuallyโBut in a higher-rate regime, that assumption is no longer guaranteed. Valuation compression risk is real, and earnings must now do more of the heavy lifting.Confidence built in one regime often breaks in another.5. The biggest risk today: avoiding pain too aggressivelyOne of Mungerโs less discussed but critical ideas is โpain-avoidance behaviorโ.In todayโs context, it shows up as:Selling winners too early to โlock in gainsโAvoiding fundamentally strong but volatile sectorsSitting excessively in cash due to fear of drawdownsIronically, in trying to avoid discomfort, investors often underperform the very market they are trying to survive.6. What works in todayโs market: Munger-style disciplineIf we translate Mungerโs philosophy into todayโs environment, a few principles stand out:(1) Concentrate only when conviction is realNot based on stories, but on durable cash flows and long-term pricing power.(2) Expect volatility as a feature, not a flawEven high-quality companies will see sharp drawdowns in a rate-sensitive world.(3) Reduce decision frequencyMost mistakes come from over-trading emotional signals disguised as โinformation.โ(4) Build a bias checklistBefore acting, ask:Am I reacting to news or value?Am I following the crowd?Would I make this decision in isolation?7. The current market lesson in one lineIf Munger were observing todayโs markets, the warning would likely remain unchanged:โThe biggest returns still come from avoiding obvious psychological errors, not from predicting the next move.โBottom lineTodayโs markets are not irrational, but they are emotionally amplified. Liquidity, technology, and information speed have not removed human bias; they have accelerated it.That is exactly the environment where Mungerโs framework becomes most powerful. Because in the end, investing success is still less about knowing more, and more about misbehaving less.
Mohanlal's 'Drishyam 3' has achieved a remarkable Rs 200 crore worldwide, driven by strong overseas performance. While domestic collections remain solid at Rs 86.25 crore net, a noticeable dip in footfalls was observed on Day 9. Occupancy trends indicate a mid-week slowdown, though Kerala continues to be the film's strongest market.
Jelena Djokovic once again showed her support for Novak Djokovic before his French Open clash against Joao Fonseca. Through Instagram posts, heartfelt messages and public celebrations, she continued to stand behind the Serbian star. As Djokovic chases another Grand Slam title at Roland Garros, Jelena remains one of his strongest supporters both on and off the court.
Prime Minister Modi never condemned the targeted assassination of the Iranian head of state, never condemned the ongoing Israeli genocide in Gaza, says Congress leader Jairam Ramesh