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SGX Nifty Indicates Positive Opening; India’s GDP Declines 23.9% in Q1 FY21

Global stock markets: Dow 30, -0.8%; S&P 500, -0.2%; Nasdaq, +0.7%; Nikkei, +0.1%; Hang Seng, -0.3%; KOSPI, +0.9%

Yesterday, Nifty opened around 130 points higher but quickly succumbed to selling pressure. The selling started within the first 30 minutes of trading. The fall was the highest since May 18. Domestic cues such as the outcome of GDP data for the June quarter, outcome of the meeting of SEBI with brokers, leading corporates and exchanges, escalation of Indo-China border tensions, and profit booking can be attributed to the fall. The volatility index surged more than 27% due to the aforementioned factors.

Yesterday’s action qualified as a distribution day as the fall was more than 0.2% on volume higher than the previous session. With the increased distribution day count, we changed the market status to an Uptrend Under Pressure. We will change the status to a Downtrend if two or three more distribution days are added or if Nifty breaches the 50-DMA (10,986) and the 200-DMA (10,818). On the flip side, the status will be back to a Confirmed Uptrend if Nifty retakes the 11,795 level (high during the recent rally).

Key News

India’s GDP for the June quarter declined 23.9% due to the imposition of lockdowns across the country. The real GDP, also known as inflation-adjusted GDP, declined 22.6%. However, the Agriculture sector grew 3.4% due to plentiful rainfall.

Arvind reported its Q1 FY21 results yesterday after market hours. Revenue from operations declined 68.4% y/y to Rs 599 crore. It reported a loss of Rs 97 crore, compared with a profit of Rs 24 crore in the corresponding quarter last year.

Ntpc will seek shareholder’s permission to raise Rs 15,000 crore through the issuance of bonds. According to the proposal, the funds are to be raised on a private placement basis in one or more tranches not exceeding 30.

O’Neil Market Condition Report

For the 24 emerging markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 54%; Rally Attempt, 8%; Uptrend Under Pressure, 30%; Downtrend, 8%.

For the 24 developed markets tracked by our institutional research team, the market status breakdown is as follows: Confirmed Uptrend, 42%; Rally Attempt, 4%; Uptrend Under Pressure, 50%; Downtrend, 4%.

HOW TO STOP ZOMBIES FROM EATING INTO YOUR LIFE SAVINGS

These additional insurances, (like Income Protection), can often only be claimed through one policy.

What does this mean?

It means that you are paying premiums for insurance that will never pay out.
That’s what we call Zombie Insurance.

The Productivity Commission reported that $2 billion is being spent annually on duplicate Life Insurance policies. Yes! You read that right. $2 billion! The same amount that Chadstone Shopping Centre announced in annual sales. It’s a haunting amount which is impacting people without them even realising.
“While many members are getting aff

ordable life insurance through their super, some end up with cover that is manifestly unsuitable, including ‘zombie’ insurance policies they can’t even claim on. And many unknowingly have duplicate insurance policies, which can erode their super balances at retirement by over $50,000,” commissioner Angela MacRae said.

From 2016-2017 alone, $1.9 billion in excess insurance premiums were shelled out, making multiple insurance premiums paid due to unintended multiple superannuation accounts the leading contributor of balance erosion.

The Commission’s Report flags income protection as a distinct and problematic area.
This is because Members who are not working cannot claim, as they do not have an income to offset. This is information that is not clearly disclosed, and many Members are being left in the dark as a consequence.

What’s more is that having multiple income protection covers restricts the ability to claim because payments from one policy reduce eligibility to claim against another, and total payments cannot exceed a set proportion of pre-existing income.
It’s important to understand that what you have included and what you need included in your Superannuation Policy may be two completely different things.
Be aware.
Be prepared.
Be proactive, and talk to the experts.
It’s time to stop spending money on unnecessary Zombie Insurance, and have the team at Partners In Planning review your situation obligation free.
The offer is valid for all chocolate moneyour clients. Zombies not included.

What needs to be on your daily financial planning checklist?

But by following the right course of action and establishing an effective financial plan, people are coming out of this crisis and setting a goal for the financial-future. Yes, if you want, then you can make it possible too.

No matter whether it’s for the long-term or short-term, if you follow the guidance from the right financial advisor, again, you can surely live a stress-free life.

If the thought of daily financial planning comes in your mind lately, don’t worry then! Take a glimpse of our financial planning checklist and say “NO” to financial errors. Know how to make finance under your control.

Follow These 4 Simple Every Day Strategies and Get Rid of Your Financial Problems.
You also know that your personal finances can badly affect your entire life. Even though you are already facing it, only the right planning can show the way out.

If you want that you no more require to wrestle with your financial issues, build a solid foundation of financial planning checklist, and cover all the bases.

Dive into your financial life and dig out the significant points of consideration that for yet you’re overlooking or were assuming unnecessary.

End up following these necessary tricks recommended by an expert financial advisor that offers peace of mind and an amazing sense of financial security.

Create a Budget for yourself
No wonder, without noticing this step, you can’t think about going further. If you seek a healthy financial cycle in your life, prepare a monthly or weekly budget, and manage your personal balance sheet.

Make sure that the ration of expenses isn’t going above your income. If your expenses are more, then make sure to take the help of financial advisors to track your expenditure and avoid overspending.

It’ll be better if you set a limit on spending per month and think more about savings. It can take to get into the habit of savings if you aren’t used to it. But ultimately, you’ll overcome the financial issues, and thus you’ll be securing your future.

Manage your Debt
It’s the most significant rule that everyone should act upon. Even financial advisors also claim it the first reason behind the bad financial situation.

Mark this point as the most crucial part of your daily financial planning checklist in which you’ll primarily have a focus on your credit card debts (both short-term and long-term debts).

While shopping or purchasing online, most people, without thinking about high-interest rates and years-long EMI, end up buying products, which later costs them double.

Because products’ prices depreciate overtime and purchasing goods on a credit card for the long term isn’t a great idea. If we talk about short-term credit card debts, they might appear attractive, but they are spoiling your financial future.

Review your Financial Information every year
Few people consider it as the least important thing, but if you also do, then wake up! If you set an investment goal, then review your Financial Information, it’ll provide you with the perfect chart of your financial life.

Most notably, if you have a family, then you must bear their requirements in mind. Alongside it, you should also review your current loans and expenses you’ve made throughout the year.

By reviewing your personal financial information, you’ll get insight into the unnecessary expenses that were easy to skip, but you didn’t. Don’t forget to take your credit report; it assists you in the future.

Seek Help from an Accountant
Finances can easily become more complicated until you seek advice from experts. You might be already great in dealing with financial issues, but in most instances, outsourcing a financial advisor can make all difference.

Similarly, to clarify your entire financial requirements and establish the right financial plan that suits your lifestyle and meet your future goals, you need our assistance.

IT Consultation

How do you go about choosing someone to help your company achieve its IT goals when you don’t have the resources to do it internally? It is really quite simple – do your upfront homework and maintain your involvement through the life of the project. Perhaps this is obvious, but we’ve found that when you follow these four main ideas, you’ll end up with a successful project.

First, when considering a professional services firm for your IT project, start by checking with others – both inside and outside of your industry. Talk to your peers and ask them about their results when engaging with IT Consulting firms. After that, ask each of the consulting firms that you are considering for several references of clients where they have recently completed projects. Then take the time to call those references to get a clear understanding of how easy the firm was to work with, how well they worked within the company’s internal culture and if they got the job done on-time and on-budget.

Second, once you’ve completed your review of the references and have awarded the project, begin by clearly outlining your expectations for the project. Let’s face it anytime you bring in outside resources, it changes your internal culture. Ensure that the consulting firm has a clear understanding of your corporate culture, how you operate, and how you wish them to operate within your business environment. This will go a long way towards alleviating any “silly” issues that will definitely arise if the consultant isn’t aware of how you manage your business.

Third, once this foundation is completed, take a hard look at the project plan and ask yourself if it is truly feasible. For instance, it is important to ensure that all resources – whether human or systems – are available to the consultant per the project plan. We normally begin our IT projects with a series of interviews to get a clear understanding of the existing business processes and the people and technology that perform them. This means that in order for us to do our job as efficiently as possible, we need to be able to meet with the people or access the systems per our defined project schedule. If you ensure that this happens, you’ll be well on your way to getting your project completed as efficiently as possible.

Finally, most consulting firms will schedule project progress meetings as often as it makes sense (based upon the project). It is important for you (or someone that you designate on your team) to be engaged in these meetings as they occur – even if they aren’t involved in the details of the project. This will assist you in identifying any pitfalls that may occur as the project progresses. Further, this will allow you to ensure that what you are doing continues to make sense – you are achieving what you set out to accomplish. We’ve seen both time and money saved when the consultant was able to effectively shift gears mid-course and keep the project on track as problems were averted due to these meetings. We’ve also seen re-work having to be done because the client could not make the meetings and issues were found after applications were written or systems were implemented. Most of this re-work can be eliminated by all parties staying engaged in project progress and ensuring that the end result is going to work as desired.