While 300 people attended the whole-day session at Bengaluru, 4,000 people watched it live on the Web
Moneylife Foundation held its first seminar at Bengaluru on 16th July on "Investor, Empower Yourself." Around 300 people attended the whole-day session, and watched with rapt attention. This seminar was a big leap for the Foundation-it was the first time that it was being beamed live across the country. Almost 4,000 people across the nation watched the session live.
Congratulatory comments have been pouring in after the success of the seminar. PV Subramanian, author of several bestsellers and financial planner commented: "Even with not too great net connectivity, I watched it like it was on TV." This is just one of the several comments that we have received. Another participant (MR Suryaprakash) has sent Moneylife an email: "Congratulations. The seminar was interesting, educative and thought-provoking. Please inform me whenever you are conducting programmes at Bengaluru."
The live coverage beamed from Bengaluru is part of the Foundation's quest to spread financial literacy and promote consumer advocacy across the length and breadth of the country. The live streaming of the event was done by http://webtv.in/, founded by Anju Maudgal Kadam and Ketav Kadam. They and their team worked tirelessly for Moneylife Foundation's first such live event. "At WebTV.in, we believe that live streaming is an excellent platform for building focused communities. It is a medium that is clutter free of the commerce being transacted in other communication mediums and yet cost effective. A tool which was leveraged to its best by Moneylife Foundation, to take its message beyond geographical barriers, when they broadcasted the seminar-live from Bengaluru to the world. (This is) relevant messaging, to an ecosystem that is eager to gain a collective voice without compromising on ethics," Anju Maudgal Kadam told Moneylife.
The event was generously supported by Indiabulls. Moneylife Foundation has previously held such investor education programmes in Kolkata, Delhi, Pune and Mumbai. Stay tuned to this space for more such events!
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Investors are hopeful that positive earnings from corporates this week will boost the market
The Indian stock market is likely to open lower on weak global cues. Markets in Asia were mixed in early trade on Monday on concerns about the pace of the global economic recovery. The US markets closed higher on Friday as a late recovery boosted stocks. However, the impasse among political leaders to hike the debt ceiling is seen as a serious concern. The SGX Nifty was 30 points down at 5,561.50 compared to its previous close of 5,591.50.
The market ended in the red last week after three weeks of gains. The decline was mainly due to global factors and lower expectations on first quarter results. Lower industrial output for May weighed down by the manufacturing and mining sectors was also contributed to the decline.
The market closed lower for the first two days on weak global sentiments. Institutional buying support and firm Asian markets helped the indices close in the positive on Wednesday. Poor inflation numbers led to a flat close on Thursday. While the market opened in the green on Friday, it lost direction and ended lower, as investors were concerned that rising inflation will prompt the Reserve Bank of India (RBI) to hike rates at its review meeting at the end of the month.
Overall, the Sensex fell 2% (down 296 points) to close the week at 18,561 and the Nifty shed 1% (down 56 points) to 5,581. We expect the market to move sideways in the days to come until the Nifty reaches 5,520.
Wall Street closed modestly higher on Friday as the indices made a late hour recovery to end the session in the positive. Europe's financial health and US manufacturing data weighed down stock prices for much of the day. However, strong earnings announcement from the Google Inc helped the markets to move higher in late trade. Also the Labor Department reported that the Consumer Price Index fell 0.2% in June.
The Labor Department reported that the Consumer Price Index fell 0.2% in June, falling for the first time in a year on account of a steep drop in gas costs. Americans paid more for autos, clothes and hotel stays however, driving prices outside of volatile food and energy costs were up.
The Dow gained 42.61 points (0.34%) to 12,479.73. The S&P 500 added 7.27 points (0.56%) to 1,316.14 and the Nasdaq climbed 27.13 points (0.98%) to 2,789.80.
Markets in Asia were mixed in early trade on Monday as debt worries on both sides of the Atlantic weighed on investors. Despite positive results from the stress test conducted by the European Banking Authority, a sovereign debt default by any Eurozone member could have negative implications. Also, the tardy progress on debt negotiations the US would mean that the world’s largest economy is under threat of a debt default.
The Shanghai Composite gained 0.04%, the Hang Seng climbed 0.58%, the Jakarta Composite rose 0.21%, the Straits Times advanced 0.17% and the Taiwan Weighted added 0.04%. On the other hand, the KLSE Composite was down 0.55% and the Seoul Composite declined 0.58%. The Nikkei 225 was closed for a local holiday.
Back home, fiscal measures to rein in inflation could impede the country’s infrastructure development due to squeezed investment for want of sufficient credit access, says top industrialist Ratan Tata.
Mr Tata said that the slowdown in infrastructure projects might have a major impact on job creation and the demand for goods and services, resulting in a substantially lower level of economic activity. India is aiming to spend $1 trillion in the next Plan period.
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