American Rescue Plan: China worried about economic impact of Joe Biden’s US$1.9 trillion coronavirus bailout
US President Joe Biden’s US$1.9 trillion American Rescue Plan received final approval from the US Congress on Wednesday
It was signed into legislation on Thursday, but concerns have been raised about its potential to cause further financial market turmoil
Despite the sharp outperformance on a year-to-date (YTD) basis, analysts still believe small-and midcaps (SMIDs) have more steam left. Though there can be an intermittent correction, stock selection will be key, they say. The optimism stems from the better-than-expected rebound in economic activity after a stringent lockdown for a few months in 2020 coupled with efficacy of the COVID vaccine. On Friday, the S&P BSE Small-cap index hit a new high of 21,411, up 1 per cent on the BSE in intra-day trade as power, textiles, jewellery, industrial machinery, chemicals and packaging stocks surged. The current up move, according to analysts at Edelweiss Securities, closely resembles the rally post one global financial crisis (GFC) in 2008-09, not just in quantum and speed, but also the way small-and mid-cap (SMID) indices have outperformed large-cap peers.
DJ RUBIS: transactions carried out within the framework of the share buyback program (excluding transactions within the liquidity agreement) - March 1 to 5, 2021 RUBIS RUBIS: transactions carried