Investors get richer by Rs 39 trillion as Sensex jumps over 16% from June lows

The fall in US inflation, better earnings growth in June FY23 quarter, consistent buying by FIIs, and a decline in the US dollar index lifted the domestic equities to a four-month high on August 11. With the consistent recovery in markets from June lows, investors are now richer by around Rs 39 trillion (lakh crore). Read here.

Take a look at these key events

Today
Pegasus Row: SC likely to hear case
PMLA court to hear NCP leader Nawab Malik’s bail plea
Syrma SGS Technology IPO to open
Mahindra to unveil Scorpio ClassicTomorrow
Recruitment rally for Agniveer women military police in Aurangabad
Centre urges flag display at homes from tomorrow
International Lefthanders Day

Loan write-offs and freebies are not the same. They shouldn’t be equated

Freebies have once again taken the centre stage in public discourse as Prime Minister Narendra Modi made multiple remarks against the practice in recent days. In response, his critics have been highlighting the loan write-offs made by banks in recent years and dubbing them as ‘freebies for corporates’. At the end of the day, bad loans remain a burden on the taxpayer who finances the losses and suffers from higher interest rates. But write-offs still can’t be equated with poll freebies that are meant only for electoral gains. Read more here.

Everything about how to open a PMS account

Portfolio management services (PMS) can be used by high net worth individuals (HNIs) seeking higher returns. Unlike mutual funds (MFs), where account opening is easy since it's digital, the process in PMS requires several physical signatures across large forms. While the industry is trying to make changes and make the process digital, there is still some way to go. Here is a look at the process of PMS account opening. Read here.

Exclusive: Buy cryptos that have utility value, says Mark Cuban

Asserting that the price of tokens is the least important and least interesting aspect of cryptocurrencies, billionaire investor Mark Cuban advises investors to buy digital currencies with real utility value. In an interview with Moneycontrol, Cuban said cryptocurrencies should be regulated “optionally” with the choice of a minimal listing with OTC and pink sheets. Read here to know more.

Samsung Galaxy Unpacked Event Highlights

Samsung concluded its latest Galaxy Unpacked event where it showcased new foldable smartphones and more. The Samsung Galaxy Z Flip 4, Galaxy Z Fold 4, Galaxy Buds 2 Pro, and Galaxy Watch 5 series were among the latest entrants to the company’s portfolio. Check out all the biggest Galaxy Unpacked 2022 announcements here.

Remember the black turtleneck Steve Jobs was always spotted in? It was made by this designer

Steve Jobs was frequently photographed in a black turtleneck. In fact, he owned hundreds of them and the iconic turtleneck was designed by a Japanese fashion designer. More details here.