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I am a new investor. Where should I invest right now to reap maximum benefits? – Economic Times

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4 years ago

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Where should I invest at a time like this to reap maximum benefits? I am a new investor and I have been investing small amounts for the past few months. I don’t have a problem with market fluctuations as all my goals are long term. My risk appetite is between high and moderate.

Adhil Shetty, CEO, BankBazaar says, “The sliding markets may present an opportunity to investors to accumulate more mutual fund units at deep discounts. SIPs are better equipped to absorb market shocks and fetch desired returns in the long term. Instead of stopping SIPs, increase them if they’re in line with your long-term financial goals. If finances permit, this is a good time to augment your investments. Look at 5-10 year returns to take a decision. You can invest in large-cap funds such as Canara Robeco Emerging Equities Fund, L&T Large and Midcap Fund, or SBI Large & Midcap Fund. It would also be wise to diversify your holdings across asset classes by investing in both debt and equity, to ensure that your overall portfolio provides you with a good return over time. Towards the end of your investment period, consider moving your equity investments to debts.”

I have a substantial amount invested in Aditya Birla Sun Life Medium Term Plan. The current value of the investment is Rs 32 lakh. Since the fund’s performance has been bad for the past few years, should I redeem? Please suggest an alternative debt fund. I can remain invested for seven years.

Raj Khosla, Founder and Managing Director, MyMoneyMantra.com says, “Given the time horizon of 7 years, I would recommend rebalancing your portfolio. Redeem the existing fund and invest in liquid funds. Then set up systematic transfer plans into balanced funds. Build an emergency corpus by transferring Rs 5 lakh into DSP Liquidity Fund. Transfer Rs 12 lakh and Rs 15 lakh into ICICI Prudential Liquid Fund and Kotak Liquid Fund respectively. After this start STPs of Rs 20,000 and Rs 25,000 towards ICICI Prudential Regular Saving Plan and Kotak Debt Hybrid Fund respectively, for 5 years. When your goals are two years away, start a Systematic Withdrawal Plan and realign portfolio towards debt funds. This way you can maximize returns and ensure capital protection.”

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Investment

S&P/TSX composite up more than 100 points, U.S. stock markets mixed

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1 day ago

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October 16, 2024

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TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.

The S&P/TSX composite index was up 103.40 points at 24,542.48.

In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.

The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.

The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.

The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.

This report by The Canadian Press was first published Oct. 16, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX up more than 200 points, U.S. markets also higher

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6 days ago

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October 11, 2024

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TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.

The S&P/TSX composite index was up 205.86 points at 24,508.12.

In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.

The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.

The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.

The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.

This report by The Canadian Press was first published Oct. 11, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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Economy

S&P/TSX composite little changed in late-morning trading, U.S. stock markets down

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1 week ago

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October 10, 2024

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TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.

The S&P/TSX composite index was up 0.05 of a point at 24,224.95.

In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.

The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.

The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.

The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.

This report by The Canadian Press was first published Oct. 10, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

The Canadian Press. All rights reserved.

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