BFSI
HDFC Defence Fund Leads 13 Equity MFs with Strong Weekly Returns
In a significant development for Indian mutual fund investors, the HDFC Defence Fund has emerged as a top performer, registering returns exceeding 4% in the past week. This stellar performance isn't an isolated incident; a total of 13 equity mutual funds have shown similar strong momentum, delivering over 4% returns. This trend in the Indian mutual fund market highlights a positive short-term performance across select equity schemes. Such rallies often point towards specific sector growth or broader market upticks, offering investors a glimpse into potential opportunities within their investment portfolios. At Lumic, we provide insights into these market movements, helping you understand the landscape of Indian equity and mutual funds.
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RBI
Bank Credit Surges 20% as Industry and Services Borrowing Accelerates
- Bank credit to industry grew 20% in July, sharply up from 6.5% from the last year
- Services credit jumped 22.9%, led by NBFCs, trade and commercial real estate sectors
- Infrastructure, engineering, metals and chemicals saw strong credit expansion in July
Nifty