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Stocks rallied, pushing the three major U.S. indexes to closing records. The rally “can go on for a while,” one observer said.
Stocks across the board rose sharply Thursday, and all three major U.S. indexes closed at records. Investors are growing so confident, they’re willing to pay what is now a hefty price to own stocks.
The
S&P 500 rose 55.65 points, or 1.48%, to end at 3,803., and the
Nasdaq Composite rose 326.69 points, or 2.56%, to close at 13,067.48. The biggest gainer on the S&P 500 was
DXC Technology (ticker: DXC), which surged 9.3% on reports the IT-services giant has received takeover interest.
Updated Jan 08, 2021 | 13:46 IST
The government has allowed Employees’ Provident Fund Organisation (EPFO) and exempted provident funds to invest in the units of Bharat Bond ETF. Representational image
New Delhi: The government is planning to launch the third tranche of Bharat Bond ETF to raise nearly Rs 15,000 crore from retail investors to fund the growth of state-owned entities.
“The latest tranche may be launched around March-April,” the
Economic Times quoted an unnamed senior executive as saying.
The assets under management of Bharat Bond ETF, has jumped over 30% to about Rs 31,000 crore in the past few quarters, this suggests that investors seeking higher tax-adjusted returns to bank deposits bought units from the secondary market, the business daily mentioned citing market sources.
EPFO, PF may generate more money now as govt allows investment in Bharat Bond ETFs
A total of four tranches of Bharat Bond ETFs have been launched to date, two in December 2019 and two in mid-2020. Representative image
Updated: Jan 8, 2021, 12:08 PM IST
In what may come as good news for employees, the PM Narendra Modi-led central government has allowed the Employees Provident Fund Organisation (EPFO) and Exempted Provident Fund Trusts to invest in public sector debt ETFs (Exchange Traded Funds) like Bharat Bond ETF. A notification was issued by the government in this regard on January 4.
So far, a total of four tranches of Bharat Bond ETFs have been launched, including two in 2019 and the rest last year. Edelweiss Asset Management manages the Bharat Bond ETFs, which are allowed to invest in AAA PSU debt and have set expiry dates in 2023, 2025, 2030 and 2031.
Good news for EPFO subscribers: Modi govt s New Year bonanza, check details
According to Live Mint, a notification in this regard was issued on January 4.
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Updated: Jan 8, 2021, 07:34 PM IST
In what can only be categorised as a New Year bonanza to benefit crores of EPF subscribers, media reports have emerged which says that it has allowed Employees Provident Fund Organisation (EPFO) and Exempted Provident Fund Trusts to invest in public sector debt ETFs (Exchange Traded Funds) like Bharat Bond ETF.
According to Live Mint, a notification in this regard was issued on January 4.
It is to be noted that Labour and Employment Minister Santosh Gangwar on December 31 announced that PF subscribers will start receiving 8.5 percent interest on their PF amount from the said day onwards.