Bharat Bond ETF NFO Collected Rs. 10,000 cr:
To begin with, the second tranche of Bharat Bond ETF NFO introduce on 14th July 2020. The new fund offer has obtained nearly Rs. 10,000 cr. Moreover, this NFO subscription period has ended on 17th July. In this subscription period, the Bharat Bond ETF oversubscribed for more than 3 times.
Initially, the fund provided a base issue size of Rs. 3,000 cr and a green-shoe option of Rs. 11,000 cr. Finally, the size of the new fund offer worth is Rs. 14,000 cr. Also, the final day subscription collection amount is still tallied and it will be announced on 20th July.
Furthermore, the Bharat Bond ETF NFO providing its fixed maturity scheme in 3 years and 10 years time period. Previously, the fund raised around Rs. 12,400 cr through its debut offer in the last year of December.
Presently, the ETF (Exchange Traded Funds) investing most of their investments only in ‘AAA’ rated public sector companies.
Stock Market Update:
Stock Market July 17th: On Friday, both Sensex and Nifty seem to trade in a bullish trend in the stock market. The Sensex stood traded gain with 37,020.14 levels and Nifty stood traded gain with 10,901.70 levels. The Sensex raised 548.46 points with a 1.50% gain. Besides, Nifty has raised 161.75 points with a 1.51% gain.
On the other hand, the number of confirmed or coronavirus cases in India reached 10,40,457 as of July 18th, and deaths reached 26,285.
In the border market, the S&P BSE Midcap index reported a bullish trend in the stock market yesterday. It raised 206.77 points with a 1.55% gain and reached a 13,530.75 level. The S&P BSE Smallcap index raised 140.27 points with a 1.11% gain and reached a 12,782.53 level. However, the Nifty Bank raised 369.65 points with a 1.71% gain and reached a 21,966.80 level.