Barring a significant Black Swan event which will rattle the whole world, will face volatile times but it does not look like a big crash. That is the outperformance that we have shown to the emerging market investors, given our ability to bring the economy back to pre-Covid levels, given our ability to manage the Covid 2.0 was much better than Covid 1.0. The Hong Kong market is down 4-5% YTD and we are almost up 14% odd. That shows the maturity of the investors and the maturity of the market. I was pleasantly surprised that despite such a big rout happening in China and Hong Kong markets, the Indian markets have been able to hold on. Normally it is part and parcel of the market that whenever there is a high beta or a high momentum trade, the smallcaps and midcaps tend to outperform the largecaps and whenever there is a selloff, the midcaps and the smallcaps that is the caste and creed that they end up selling more because of various issues. Do you worry about when the reversal will happen and if there is a global correction or if benchmark indices start correcting, it could lead to bigger selloff and impact on the small and the midcap space? Nifty is also sitting at an all time high and the small and the midcap stocks have seen a sizable correction. With each passing day, S&P is making a new high. Global markets have been firm like a rock. Stock score of Tata Steel Ltd is 8 on a scale of 10. So, wherever there is surety of growth and cash flows, money is moving there.
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As for why it is happening, clearly there are ifs and buts in the economy as to whether we will have a third wave also. Hence, wherever there is a surety of growth in at least next two to three years, money is moving to that side. But this time, the climb would be normal because the economy was not stalled after Covid second wave. When Covid 2.0 manifested, the numbers again were a bit lower than expected and now the expectation is that things will be back to normal. Also from the earnings point of view, from the low of last March or April, the numbers have been pretty strong. In the last one and a half years of Covid, there was a significant fall and then there was a significant climb of the market and there was a reflationary trade which was coming into play. Some kind of sectoral rotation is happening depending on the way the world is moving and how the economy will shape up. If you bought into pharma, it is a terrible market if you bought into banks it is an okay market and if you bought IT, this is like a great bull market. The market is getting very polarised or very sector or stock specific. As this case moves forward, we’ll continue to provide updates.People will wait for one or two quarters to understand if there is a third wave or not and if we do not have a lethal third wave, then financials at some point of time will start showing growth, says Jinesh Gopani, Head of Equity, Axis Asset Management. The fatal accident remains under investigation and, to date, Jenner has not been deemed at fault. If proven to be true, the plaintiffs may have a difficult time proving their case as “monetary injury as a result of the death,” of a loved one is a vital element in a successful wrongful death case. Responding to the lawsuit, Jenner’s legal team recently refuted the related claims contending that the plaintiffs, who are ages 57 and 60, were not financially dependent on their stepmother. Due to the defendant’s actions and loss of their step-mother, the plaintiffs claim that they have incurred expenses related to damages as well as the loss of “love and affection” from their stepmother. Among the claims asserted in the suit are that Jenner violated traffic laws and operated a motor vehicle in a “negligence, careless and reckless,” manner. The wrongful death lawsuit was filed by the 69 year old’s two stepchildren who blame Jenner for causing the accident in which their loved one was killed. When Jenner’s Cadillac Escalade rear-ended the woman’s car, the force of the collision resulted in her vehicle traveling into the adjacent lane of traffic where it was hit by an oncoming vehicle. At a time when Jenner is being applauded by many for championing and furthering the rights of transgender individuals, he is also at the center of a wrongful death lawsuit stemming from his involvement in a fatal motor vehicle accident this past February that resulted in the death of a 69-year-old woman.Īccording to court documents, the collision occurred along the Pacific Coast Highway in Malibu when Jenner rear-ended a white Lexus that had slowed due to a stopped vehicle up ahead.
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Bruce Jenner, who is also known as Caitlyn Jenner, recently made headlines when the former Olympian grace the cover of Vanity Fair.