Stock Market
Stock Markets are not moving in any clear direction at present. High Inflation and Interest rates are holding back all the possible gains. But after a dull period of 6 months – market has some positive news flows. Cooling of Crude Oil prices and possibilities of further reforms after the success of the Government in the trust vote process are positive factors. The market is expected to consolidate in a range for some time with positive bias and wait for some future trigger. FIIs continue to sell and earnings growth and GDP is expected to slow down.
Dollar/Commodities
Due to RBI rate hike and cooling of crude oil prices, rupee is strengthened against Dollar. Any future movement of currencies depend on actions of various central banks. Crude Oil and Gold have softened and expected to remain so.
SBI Life’s Unit Plus Elite Plan
SBI Life Insurance Company has launched Unit Plus Elite Plan. It suits needs of high networth NRIs. It is a unit linked plan which invests in stock market. SBI Life has a very good performance record for their old schemes like – Unit Plus II. The minimum investment is Rs 3 lac per year for 3, 5, 7 or 10 years. Various options for withdrawals are available. The main advantage is lower charges as compared to other unit linked plans and good track record of SBI Life Insurance.
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