The US Stock Index S&P 500 is now in the longest bull run in its history surpassing the tech boom of the 90s. It has now gone 3,454 days without a drop of 20 percent or more. As of Tuesday, the S&P 500 had climbed 323 percent over the current bull market. By comparison, the bull market that ran through much of the 1990s and ended in March 2000 led to a 417 percent gain for the S&P 500, according to S&P Dow Jones Indices.

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Reliance Industries became the first Indian company to reach market capitalization of Rs. 8 lakh Crore. It now constitutes 9.6% of the Nifty 50 Index.

SEBI (Securities and Exchange Board of India) formed a six-member sub-committee to review the current total expense ratio (TER) structure in Mutual Funds in India. SEBI sees TER rationalization as a way to spur competition in the Mutual Fund space where top 7 fund houses have a 60-70% AUM share.

Raghuram Rajan reaffirmed that there is no need to worry about Rs depreciation - "I think it (rupee) hasn’t depreciated to worrying levels, it’s dollar strength around the world. This is the time when the country should focus on macro stability considering it is going into an election year".

What worked best:

BSE Sensex and NIFTY rose by 0.80% and 0.75% respectively over the week. Small Cap Index had a neutral week (-0.01%) whereas Mid Cap Index outperformed and was up 1.51% for the week.

Movers and shakers at fund house:

Canara Robeco AMC announced that Mr Rakesh Sharma has resigned from the designation of Associate Director. Mr Hideaki Yokoyama and Mr Debashish Mukherjee have been appointed as Associate Directors.

DSP Mutual Fund announced that Mr Gopal Agrawal will be managing the equity portion of DSP Regular Savings Fund and DSP Equity Savings Fund. These were earlier being managed by Mr Mayur Patel.

Quote of the week:

There is a strong case for direct plans. AMFI should promote them to check mis-selling in mutual funds. - SEBI Chairman Ajay Tyagi

Manvendra Singh Rathore is an analyst at Kuvera.in: India’s first completely free Direct Mutual Fund investing platform.

First Published:Aug 25, 2018 7:14 AM IST