Charlie Munger’s quote on swimming against market “tides†highlights his belief that investors should not try to predict markets but instead focus on improving judgement and discipline. His philosophy emphasises long-term thinking, strong fundamentals and emotional control, reinforcing that successful investing is built on preparation rather than prediction.
Despite a significant dip in the benchmark Sensex, six stocks within the BSE200 index achieved new 52-week highs on Friday, signaling robust investor confidence. These outperformers, including GE Vernova T&D India, The Federal Bank, and Polycab India, have demonstrated impressive gains over the past month, suggesting strong upward momentum and potential for continued growth.
Sebi approved a series of reforms to improve market efficiency and investor protection. Key changes include the return of exchange-based buybacks, intraday borrowing for mutual funds, faster AIF launches, easier municipal bond fundraising and simplified transmission of securities to legal heirs.
Four Indian companies, AGS Health, PGP Glass, Shreni Shares, and SRIT India, have received the green light from Sebi for their upcoming IPOs. These firms confidentially submitted their draft documents, with Sebi providing its observations between June 16-19. Shreni Shares plans a mix of fresh issuance and an offer for sale, while SRIT India will issue new shares. Proceeds will fund working capital, debt repayment, and growth initiatives.
Reliance Jio’s upcoming IPO aims to raise approximately $3 billion. The company intends to allocate Rs 27,500 crore to prepay debt, strengthening its balance sheet for future investments in 6G, artificial intelligence, broadband, and digital services expansion.
Bharti Airtel shares rose over 2% after Mukesh Ambani announced Jio Platforms will file its DRHP with SEBI. The proposed IPO could become India’s largest. Jio’s strong subscriber base and valuation outlook highlight intensifying competition with Airtel in the telecom and broadband space.
The dollar continues to exhibit resilience against key global currencies, largely fueled by the ongoing unpredictability of a potential U.S.-Iran peace agreement. Meanwhile, the Japanese yen has plummeted to levels not seen in two years, prompting traders to keep an eye out for possible intervention from Japanese financial officials.
NYU professor Aswath Damodaran has cautioned that the rush to include newly listed giants such as SpaceX, OpenAI and Anthropic in the S&P 500 could reshape passive investing. While these firms may quickly become some of the market’s largest companies, Damodaran argues they could still be loss-making, have evolving business models and governance concerns a year after listing.
The Nifty IT index slumped over 6% to a three-year low after Accenture’s guidance cut triggered a sharp sell-off in Infosys, TCS, HCLTech and other IT stocks. While some experts see valuations turning attractive after the correction, others remain cautious amid AI-led disruption and slowing growth prospects.
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