External broker reports(aggregated public sources), CardinalStone

CardinalStone

External broker reports(aggregated public sources)

CardinalStone is an independent, multi-asset investment management firm offering an assortment of financial services to a diverse institutional, high net worth and retail clientele base. The company began operations in June 2008 and its business is conducted across six divisions – Investment Banking, Asset Management, Securities Trading, Trust Services, Registrar Services and Financing. Headquartered in Lagos with offices in Abuja, Nigeria, the firm and its licensed subsidiaries diligently works with its clients to create bespoke solutions for their needs.

Macroeconomics

<ul><li>In September, global equities performances were largely shaped by key monetary policy decisions of major central banks, including the U.S. Federal Reserve, Bank of England, ECB, and Bank of Japan.</li><li>The dovish stance of the U.S. Federal Reserve, which initiated a 50-bps rate cut after 14 months of holding rates steady, fueled positive sentiments across some markets, pushing the MSCI World Index up by 1.69%.</li><li>Elsewhere, the MSCI Emerging Markets Index rose by 6.45%, supported by Chinese stimulus efforts.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

In September, global equities performances were largely shaped by key monetary policy decisions of major central banks, including the U.S. Federal Reserve, Bank of England, ECB, and Bank of Japan.The dovish stance of the U.S. Federal Reserve, which initiated a 50-bps rate cut after 14 months of holding rates steady, fueled positive sentiments across some markets, pushing the MSCI World Index up by 1.69%.Elsewhere, the MSCI Emerging Markets Index rose by 6.45%, supported by Chinese stimulus efforts.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

A Vote-of-Account-Budget sets the Narrative of “Viksit Bharat”: We believe that the Budget has proactively set the tone for economic development in the upcoming years. It envisions a "Viksit Bharat" by 2047, following a transformation similar to the one witnessed in the last decade. The market borrowing is projected to be ~11.75 Lc Cr for FY25, and the bond market responded positively to this budgeted figure. Our key takeaways from the Interim Budget are as follows: 1) Reasonable Fiscal Math; 2) Significant positive for infrastructure; 3) Enhanced allocation to the PM AwasYojana; 4) Rooftop solarization (SuryodayaYojna), and 5) Boost to Nano DAP and Aquaculture Production.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

A Vote-of-Account-Budget sets the Narrative of “Viksit Bharat”: We believe that the Budget has proactively set the tone for economic development in the upcoming years. It envisions a "Viksit Bharat" by 2047, following a transformation similar to the one witnessed in the last decade. The market borrowing is projected to be ~11.75 Lc Cr for FY25, and the bond market responded positively to this budgeted figure. Our key takeaways from the Interim Budget are as follows: 1) Reasonable Fiscal Math; 2) Significant positive for infrastructure; 3) Enhanced allocation to the PM AwasYojana; 4) Rooftop solarization (SuryodayaYojna), and 5) Boost to Nano DAP and Aquaculture Production.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Cross Asset Strategy

<ul><li>A Vote-of-Account-Budget sets the Narrative of “Viksit Bharat”: We believe that the Budget has proactively set the tone for economic development in the upcoming years.</li><li>It envisions a "Viksit Bharat" by 2047, following a transformation similar to the one witnessed in the last decade.</li><li>The market borrowing is projected to be ~11.75 Lc Cr for FY25, and the bond market responded positively to this budgeted figure. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

A Vote-of-Account-Budget sets the Narrative of “Viksit Bharat”: We believe that the Budget has proactively set the tone for economic development in the upcoming years.It envisions a "Viksit Bharat" by 2047, following a transformation similar to the one witnessed in the last decade.The market borrowing is projected to be ~11.75 Lc Cr for FY25, and the bond market responded positively to this budgeted figure. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>The Union Budget 2023-24 lived up to all the market expectations, which was driven primarily by capital expenditure while simultaneously providing an adequate thrust to rural welfare and agriculture.</li><li>While the government successfully achieved the fiscal deficit target for FY23, it has now pegged a fiscal deficit target of 5.9% for FY24, which seems achievable.</li><li>This year’s Budget rightly focused more on Capex spending (to the tune of Rs 10 Lc Cr) with the government’s plans to provide a significant thrust to the country’s infrastructure development including impetus to the Roads, Railways, Airways, Ports, Mass Transports, Waterways, and Logistics Infra development.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The Union Budget 2023-24 lived up to all the market expectations, which was driven primarily by capital expenditure while simultaneously providing an adequate thrust to rural welfare and agriculture.While the government successfully achieved the fiscal deficit target for FY23, it has now pegged a fiscal deficit target of 5.9% for FY24, which seems achievable.This year’s Budget rightly focused more on Capex spending (to the tune of Rs 10 Lc Cr) with the government’s plans to provide a significant thrust to the country’s infrastructure development including impetus to the Roads, Railways, Airways, Ports, Mass Transports, Waterways, and Logistics Infra development.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul>
<li>As bearishness prevailed, VNIndex experienced a severe decline after instantly reaching the highest daily level of 996.1 pts (-0.1% DoD) following the ATO session.</li>
<li>Considerable losses extended when selling pressure spread from Real Estates sector to other sectors.</li>
<li>After lunch, the index dropped to the lowest daily level of 969.7 pts (-2.8% DoD) at 13:05 and recovered to close at 975.2 pts (-2.2% DoD).</li>
</ul>
<div class="content-highlight">Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</div>


As bearishness prevailed, VNIndex experienced a severe decline after instantly reaching the highest daily level of 996.1 pts (-0.1% DoD) following the ATO session.
Considerable losses extended when selling pressure spread from Real Estates sector to other sectors.
After lunch, the index dropped to the lowest daily level of 969.7 pts (-2.8% DoD) at 13:05 and recovered to close at 975.2 pts (-2.2% DoD).

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

United States

The S&P 500® is widely regarded as the best single gauge of large-cap U.S. equities and serves as the foundation for a wide range of investment products. The index includes 500 leading companies and captures approximately 80% coverage of available market capitalization.

S&P 500 INDEX (SPX INDEX)

Monthly Equities - September 2024

In September, global equities performances were largely shaped by key monetary policy decisions of major central banks, including the U.S. Federal...

CardinalStone

Multi Asset Strategy - March 2024

A Vote-of-Account-Budget sets the Narrative of “Viksit Bharat”: We believe that the Budget has proactively set the tone for economic development in...

Axis Direct

Multi Asset Strategy - February 2024

A Vote-of-Account-Budget sets the Narrative of “Viksit Bharat”: We believe that the Budget has proactively set the tone for economic development in...

Axis Direct

Multi Asset Strategy - February 2023

While the government successfully achieved the fiscal deficit target for FY23, it has now pegged a fiscal deficit target of 5.9% for FY24, which...

Axis Direct

Vietnam Stock Market - A Market Sell-Off

As bearishness prevailed, VNIndex experienced a severe decline after instantly reaching the highest daily level of 996.1 pts (-0.1% DoD) following...

Mirae Asset Securities