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To address concerns about the "skin in the game" rule for designated employees of mutual funds, Sebi on Thursday proposed reducing the mandatory investment percentage, applying it based on salary brackets, and excluding non-cash components like ESOPs from the minimum investment calculation. The proposals aimed at easing compliance, particularly for employees with lower CTCs and those in operational roles.
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According to Nagaraj Shetti of HDFC Securities, the short-term market outlook remains uncertain due to ongoing volatility. A substantial upward rally is unlikely until the Nifty crosses the 24,500 mark, with potential support around the 23,800 level on the downside.
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Donald Trump has won the US Presidential election. He defeated Kamala Harris. Trump secured 295 electoral votes. Harris got 226 electoral votes. This is Trump's second term as US President. He won despite facing felony charges. Trump had earlier said he would not run again if defeated. The US Constitution bars presidents from serving more than two terms.
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