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State-owned Bank of Maharashtra recorded the highest growth rate last fiscal in terms of total business and deposit mobilisation among public sector lenders at a time when most banks are facing difficulty in achieving double-digit growth. The Pune-headquartered lender has registered a 15.94 per cent rise in the total business (domestic) in FY24, followed by the country's largest lender State Bank of India (SBI) with 13.12 per cent growth, according to published financial numbers of the public sector banks (PSBs). However, SBI's total business (deposit and advances) was about 16.7 times higher at Rs 79,52,784 crore compared to Rs 4,74,411 crore of Bank of Maharashtra (BoM) in absolute terms. Similarly, BoM continued to maintain its top spot in terms of growth in deposit mobilisation, with a 15.66 per cent rise in FY24. It was followed by SBI (11.07 per cent), Bank of India (11.05 per cent) and Canara Bank (10.98 per cent). Out of 12 public sector banks, only these four lenders could log a double-digit growth in deposits in the financial year 2023-24. In terms of low-cost CASA deposits, the Bank of Maharashtra continued to top the chart with 52.73 per cent growth, followed by the Central Bank of India with a 50.02 per cent rise at the end of March 2024. A higher level of current account and savings accounts helps banks to keep their cost of funds low. With regard to loan growth, the Kolkata-based UCO Bank was a tad higher at 16.38 per cent, followed by BoM at 16.30 per cent. SBI also reported 16.26 per cent growth in advances in FY24. Loan growth of remaining public sector banks was lower than 16 per cent during the fiscal. On the asset quality side, the Bank of Maharashtra and SBI reported the lowest gross non-performing assets with 1.88 per cent and 2.24 per cent, respectively, as of March 31, 2024. In terms of net NPAs, BoM and Indian Bank reported the lowest numbers, with 0.2 per cent and 0.43 per cent, respectively. In terms of capital adequacy ratio, the Bank of Maharashtra was leading PSBs at 17.38 per cent, followed by Indian Overseas Bank at 17.28 per cent and Punjab & Sind Bank at 17.16 at the end of FY24.

Margin Trading Facility is an exchange approved product. It's a safe and secure product that lets investors purchase more stocks with the limited capital. It involves borrowing money from a brokerage to purchase stocks and repaying the capital with interest later. This method is often referred to as leverage trading, amplifies returns but carries risks associated with market fluctuations.Increased Purchasing Power: Margin Trading Facility enables traders to increase their purchasing power. It addresses the challenge of insufficient capital by allowing investors to take larger positions with only a fraction of the trade value paid upfront. By allowing investors to borrow funds to purchase securities, opens up opportunities to engage in bigger trades than otherwise possible with their available cash alone. Margin Trading Facility improves the possibility of profits as well as empowers traders to capitalize on promising market opportunities without having to liquidate their current holdings. For example, assume you want to place a trade for Rs 30 lakh (buy 2,000 quantities of XYZ Ltd. for a share price of Rs 1,500). You will need to maintain a margin of Rs 6 lakh against broker’s 80% funding of Rs 24 lakh. Now assuming the stock moves up by 20%, your profit is a whopping Rs 6 lakh. But if you had not taken the funding, then you would have bought only 400 shares and your profit would be limited to Rs 1.20 lakh.Enhanced Flexibility: Conventional trading often requires investors to have substantial liquid funds to execute transactions. However, Margin Trading Facility provides traders the flexibility to leverage opportunities even with limited cash reserves. This adaptability empowers investors to promptly react to market movements and take advantage of short-term trends.Efficient Allocation of Capital: To hold Margin Trading Facility positions you only require up to 20% of your income, leaving a surplus of 80% of your income. With this surplus amount one can allocate this capital across various investment opportunities simultaneously, it can also provide a buffer for emergencies.Higher ROI. Lower Taxes: Margin Trading Facility helps you invest a higher amount, which increases your return on investment (ROI). Say you want to buy stocks worth Rs 1 lakh. With MTF, you will need only Rs 20,000 to take this position (the balance Rs 80,000 will be funded by the broker). Assume the stock appreciates and your position is now worth ?1.50 lakh, giving you a profit of Rs 50,000.Without MTF, you would have to shell out the entire ?1 lakh, which means your ROI would be 50%. However, with MTF, you only had to bring in Rs 20,000, so in this case, your ROI is 250%. Assuming this position was held for 60 days, then @12% interest p.a., total interest payable would be Rs 1,578. Deducting this from the ?50,000 profit, would still give you an ROI of 242%.Additionally, you can save tax too. Without MTF, you would have to pay STCG @ 30% i.e., Rs 15,000. However, with MTF, you can offset interest payable of Rs 1,578 and your STCG will be calculated on Rs 48,422 (Rs 50,000 - Rs 1,578) which comes to R 14,526.So, with MTF, you not only increase your ROI but also reduce your tax outflow.Benefit from Corporate Actions: If you own stocks under Margin Trading Facility positions and the company declares a dividend, you're eligible to receive dividend payouts, giving you an extra source of income.Cost-Efficiency: Leveraging Margin Trading Facility may present a more financially advantageous choice in comparison to other financial options like personal loans or credit lines. Margin trading commonly provides impressive interest rates, rendering it appealing for traders seeking to optimize their gains while minimizing borrowing expensesIn conclusion, Margin Trading Facility presents countless benefits to traders, including increased purchasing power, greater flexibility, diversification opportunities, and potential for higher returns. That being said, it is crucial for traders to exercise caution when engaging in margin trading and adhere diligently to risk management principles to minimize possible limitations.(The author Sunny Ahuja is Sr.Vice President- Head Products & Platform, m.Stock by Mirae Asset. Views are own)

Various widely tracked companies like ITC, ONGC, IRFC, Ircon International, BHEL, BEL, Sun Pharma, Nykaa, Tata Investment Corporation, Hindalco, Ashok Leyland, and Divi's lab will be releasing their March quarter report cards this week. Here’s a list:May 20ONGC, Indian Railway Finance Corporation (IRFC), Bharat Electronics (BEL), Oil India, SAIL, Deepak Nitrite, Whirlpool of India, City Union Bank, Redtape, Power Mech Projects, Triveni Engineering & Industries, Chemplast Sanmar, India Cements, KRBL, Nesco, Rolex Rings, VRL Logistics.May 21BHEL, NMDC, PI Industries, Hitachi Energy India, GE T&D India, Ircon International, NMDC Steel, Action Construction Equipment, Godawari Power & Ispat, Eris Lifesciences, Maharashtra Seamless, Aether Industries, JK Tyre & Industries, Sheela Foam, Gujarat State Fertilizer & Chemicals, Metropolis Healthcare, Galaxy Surfactants, Azad Engineering, RateGain Travel Technologies, Religare Enterprises, Laxmi Organic Industries, Arvind Fashions, Va Tech Wabag, Hindustan Foods, Welspun Enterprises, Tilaknagar Industries, Gulf Oil Lubricants India, Dollar Industries.May 22Sun Pharma, Grasim Industries, FSN E-Commerce Ventures (Nykaa), Petronet LNG, The New India Assurance Company, Jubilant FoodWorks, Metro Brands, Gland Pharma, Sundram Fasteners, The Ramco Cements, Garden Reach Shipbuilders & Engineers, Minda Corporation, Gujarat Pipavav Port, HEG, Star Cement, Strides Pharma Science, Avanti Feeds, Indigo Paints, NIIT Learning Systems, GMM Pfaudler, TeamLease Services, Ashoka Buildcon, DB Corp, Kaveri Seed Company, Unichem Laboratories, GE Power India, Gandhar Oil Refinery (India), Talbros Automotive Components, Everest Industries, Goldiam International, Dhanlaxmi Bank, Urja Global.May 23ITC, Page Industries, Tata Investment Corporation, Cello World, CESC, Finolex Cables, Concord Biotech, Bikaji Foods International, Honasa Consumer (Mamaearth), KPI Green Energy, Tega Industries, PCBL, JK Lakshmi Cement, Esab India, Zaggle Prepaid Ocean Services, SML Isuzu, Amrutanjan Health Care, Barbeque-Nation Hospitality, Radiant Cash Management Services, Singer India, Muthoot Capital Services.May 24Hindalco, Torrent Pharmaceuticals, Bosch, United Spirits, Ashok Leyland, Bharat Dynamics, Hindustan Copper, Glenmark Pharmaceuticals, Manappuram Finance, PNC Infratech, EID Parry, DOMS Industries, Happy Forgings, Karnataka Bank, JM Financial, Jamna Auto Industries, IKIO Lighting, TTK Healthcare, Orient Green Power Company, Coffee Day Enterprises, Max India, Excel Industries.May 25Divi's Laboratories, Inox Wind, Sarda Energy & Minerals, WPIL, Vishnu Chemicals, Indo Borax & Chemicals, Sahyadri Industries, Rudra Global Infra Products, Mawana Sugars.

This week Finance Minister Nirmala Sitharaman was addressing brokers in BSE. She appealed to the exchanges to maintain stability and mitigate systemic risk to protect the retail investor. The regulators have done a fantastic job of protecting the investors. But the onus shouldn’t be theirs alone. As a responsible individual, you too must do a few things to protect yourselves. I have already shared a few articles on how you can succeed as a trader here, here, and here. Today, I am going to talk about one of the most underrated risk mitigation technique - trading journal. The trading journal is an indispensable way to enhance one’s trading skills. It helps you systematically record all trades, which helps you identify your strengths and weaknesses, analyze trades, and create a strategy that will make you profitable. For every professional trader, a trading notebook is an essential tool that provides an organized method for evaluating and enhancing trading performance.Here are some key advantages of maintaining a trading journal.It gives a complete pictureMaintaining a trading journal gives you a complete view of your performance by recording entries, exits, and positional sizing. With the comprehensive view, you can thoroughly examine your trading practices and tactics, making sure no aspect is missed.It helps plan and execute your trades easilyTrading journal help you to plan your trades by writing down predetermined entry and exit points. This planning lowers the possibility of mistakes by ensuring that every trade is carried out by a well-considered strategy.It helps identify what works and what doesn’tExamining past trades helps to understand what works and what doesn’t in the market. Identify your winning strategy pattern and try to improve it by using various possible ways. This continuous feedback loop is essential to improving overall performance and your trading strategies.It helps keep your emotions in checkA crucial component of successful trading is emotional restraint. A trading journal will help you to identify your emotional triggers that cause an impulse action. It gives an opportunity to overcome your triggers and making logical trading decisions facilitated by emotional control. It helps you develop a systemDeveloping a robust trading system is necessary to survive and become profitable in trading. You can create a customized trading system as per your strengths and preferences with the aid of a data-driven approach. Now you must have understood why maintaining a trading journal is necessary, I will give you a step-by-step guide to making a trading journal. Determine your trade in advanceFailing to plan is planning to fail. So, before entering into any trade it is essential to have a predetermined plan. Your trading strategy should have fixed entry and exit criteria, along with risk management guidelines, and profit targets. A well-thought-out plan acts as a road map, guiding you through the market's ups and downs. Record trade detailsAfter executing the trade, one must record the date and time, entry and exit, positional size and stop loss (to keep a track of the risk you are willing to take), trade rationale, and outcome of the trade in a trading journal. This detailed record serves as the raw data for analyzing your trading performance in future. It lets you spot trends, track progress, and gradually improve your tactics.Note down your emotional and psychological factors while tradingIt is essential to record your emotional and psychological behavior during every trade. Note your feelings (e.g. greed, fear, anxiety, confidence) and the factors that influenced your mindset (e.g., market volatility, personal stress). Understanding your emotions while trading helps in identifying triggers that lead to impulsive or irrational decisions. Upon identification of the patterns, one can find his/her way to overcome them. Consistent Analysis for Continuous Improvement Frequent evaluations offer a methodical means of evaluating your performance. Continuous improvement requires reviewing your trading journal regularly. Every week, every two weeks, or every month, set aside time just to review your trades. Identify the pattern in your successful and unsuccessful trades. Evaluate the trades on the basis of risk reward, and win ratio, and compare yourself if you are beating the index or not. Identify effective techniques and improve them. Improve Performance Based on Past DataThe objective of keeping a trading journal is to leverage the information gathered to enhance performance going forward. Use the past data to identify different strategies that work in different market conditions. You can improve the consistency and profitability of your trading methods by methodically implementing these ideas.If you start preparing a trading journal then I can assure you that your trading performance will improve. You will reduce your risk and improve your probability of success in markets and launch you on a journey to ace the index.

Spot gold rallied sharply on Friday as traders looked past hotter than expected US inflation data to focus on possible rate cuts as the US economy, going by recent key macroeconomic data, is weakening. Spot gold closed with a gain of 1.55% at $2414 Friday. The yellow metal was up around 2.30% on the week.Although the ten-year US yields closed with a gain of 1.25% at 4.42% Friday, the yields were down around 1.80% on the week. The two-year yields fell roughly 2% on the week to close at 4.82%. The US Dollar Index has come under pressure on a series of disappointing data as rate cut probability has risen. The Index was down nearly 0.80% on the week to close at 104.50.Data and event round up: Deterioration in the US economy amid sticky inflationAlmost all the inflation metrics reflect that the US inflation continues to remain elevated; nonetheless, markets are presently cheering a slight miss on one particular count – US CPI m-o-m. The US CPI (April) m-o-m was noted at 0.30% Vs the forecast of 0.40%, though y-o-y inflation data at 3.4% matched the estimate. CPI ex food and energy y-o-y and m-o-m at 3.60% and 0.30% respectively were also in line with their respective forecasts. Import price Index (April) m-o-m and y-o-y readings came in at 0.90% and 1.10% respectively Vs the respective forecasts of 0.30% and 0.40%. Similarly, the US PPI Final demand (April) m-o-m was up 0.50% Vs the forecast of 0.30%, PPI ex food and energy m-o-m was also up 0.5% as against the expectation of 0.20%. PPI ex food and energy y-o-y stood at 2.40% Vs the forecast of 2.30%, whereas PPI final demand y-o-y at 2.20% was in line with the forecast. The export price index m-o-m and y-o-y were noted at 0.50% and -1% respectively as against the respective forecasts of 0.20% and -1.10%.At the same time, the US economy seems to be losing its momentum as recent macroeconomic indicators like GDP (Q1), nonfarm payroll (April) and services and manufacturing PMIs had been disappointing. This week was no exception. Retail Sales advance (April) m-o-m stagnated as against the forecast of +0.40%. Retail sales control group came in at -0.30% Vs the forecast of +0.10%. The US Philadelphia Fed business outlook, housing starts, NAHB housing Index, and industrial production data fell short of their respective forecasts.Markets have not been deterred by disconcerting inflation data because of two factors: Firstly, the notion that some of the elements in the PPI report, which will go into the PCE deflator report, have not been hot enough. Moreover, downward revisions to the prior data also mitigated the impact. Secondly, The US Fed Chair Powell is confident that inflation will move towards the Fed’s target goal of 2% this year. He called the CPI data mixed as prior data were revised lower.Dovish FedspeakFed officials have adopted a hawkish stance in the wake of lack of progress on inflation. The Federal Reserve Vice Chair Philip Jefferson said that it is appropriate to keep rates steady until there is additional evidence that inflation will return to the 2% target. The Fed’s Williams said that he does not see the need for rate cuts. Kashkari, Mester, and Goolsbee see a case of higher for longer rates. Richmond Federal Reserve Bank President Thomas Barkin said that the latest Consumer Price Index (CPI) showed that inflation is not where the Fed is trying to get. However, the Fed Chair Powell is somewhat dovish as he dismissed the US CPI data as mixed and expressed confidence in the possibility of the US inflation falling towards the Fed’s 2% goal this year. Although he continues to drive home the point that progress on inflation has stalled, markets do not find him sufficiently hawkish.ETF holdingsTotal known global gold ETF holdings rose for the third consecutive day on May 16 to take the level to 80.715 MOz, which was higher than the level of 80.542 MOz seen at the end of the prior week.The US household’s debtAs per the New York Federal Reserve, American households set a new record as total household debt rose 1.10% from Q4 2023 to $17.69 trillion of debt in Q1 2024. At the same time, the number of delinquencies is rising amid elevated inflation.Credit card balances, which at $1.12 trillion outstanding, decreased by $14 billion during the first quarter but remain 13.1% above the level a year ago.Data next weekThe major US data next week include FOMC meeting minutes (May 1), existing home sales (April), S&P Global US manufacturing and services PMI (May preliminary), new home sales (April), durable goods orders (April preliminary), and University of Michigan sentiment and both short- and long-term inflation expectations. Out of Europe, focus will be on the UK's CPI (April), manufacturing and services PMI (May preliminary) and retail sales (April), and Germany's GDP (1Q Final) and manufacturing and services PMIs (May preliminary).Weekly outlookGold is expected to trade with a positive bias next week. Fedspeak will continue to be a crucial factor for the metal. The US Federal Reserve facing constraints in hiking rates amid elevated inflation and a weakening economy is positive for gold. The metal is expected to test resistance at $2500 sooner than expected. Interim resistance is at $2432/$2450. Support is at $2400/$2360. Buying the dips remains a preferred strategy.(The author is Associate Vice President, Fundamental Currencies and Commodities at Sharekhan by BNP Paribas)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

CAIRO/JERUSALEM: Israeli troops and tanks pushed on Saturday into parts of a congested northern Gaza Strip district that they had previously skirted in the more than seven-month-old war, killing and wounding dozens of Palestinians, medics and residents said. Israel's forces also took over some ground in Rafah, a southern city by the Egyptian border that is packed with displaced people and where the launch this month of a long-threatened incursion to crush hold-outs of Palestinian Islamist militant group Hamas has alarmed Cairo and Washington. Exposing further cracks in Israeli Prime Minister Benjamin Netanyahu's government, Benny Gantz, a centrist member of the war cabinet, threatened to resign if the right-wing leader does not agree by June 8 to a day-after plan that would include how Gaza might be ruled after the war with Hamas. In what Israeli media said was the result of intelligence gleaned during the latest incursions, the military announced the recovery of the body of a man who was among more than 250 hostages seized by Hamas in a cross-border rampage on Oct. 7 that triggered the war. Ron Binyamin's remains were located along with those of three other slain hostages whose repatriation was announced on Friday, the military said without providing further details. There was no immediate comment from Hamas. Israel has conducted renewed military sweeps this month of parts of northern Gaza where it had declared the end of major operations in January. At the time, it also predicted its forces would return to prevent a regrouping by the Palestinian Islamist group that rules Gaza. One site has been Jabalia, the largest of Gaza's eight historic refugee camps. On Saturday, troops and tanks edged into streets so far spared the ground offensive, residents said. In one strike, medics said 15 Palestinians were killed and dozens wounded. The Gaza health ministry and the Civil Emergency Service said teams received dozens of calls about possible casualties but were unable to carry out any searches because of the ongoing ground offensive and aerial bombardment. "Today is the most difficult in terms of the occupation bombardment, air strikes and tank shelling have going on almost non-stop," said one resident in Jabalia, Ibrahim Khaled, via a chat app. "We know of dozens of people, martyrs (killed) and wounded, but no ambulance vehicle can get into the area," he told Reuters. The Israeli military said its forces have continued to operate in areas across Gaza including Jabalia and Rafah, carrying out what it called "precise operations against terrorists and infrastructure". "The IAF (air force) continues to operate in the Gaza Strip, and struck over 70 terror targets during the past day, including weapons storage facilities, military infrastructure sites, terrorists who posed a threat to IDF troops, and military compounds," the military said in a statement. STRAINS IN ISRAELI COALITION Netanyahu has faced criticism at home and abroad for failing to articulate an endgame more than seven months into the war. In a news conference, Gantz said he wanted the war cabinet to form a six-point plan in the next three weeks and that if his expectations are not met he would withdraw his centrist party from Netanyahu's emergency coalition. Gantz said his proposal would include creating a temporary U.S.-European-Arab-Palestinian system of civil administration for Gaza while Israel retains security control. Though Gantz is Netanyahu's most formidable rival in opinion polls, were he to leave the government that would not be enough to bring about its collapse, as remaining parties would still give the premier a comfortable parliamentary majority. Yet Gantz's challenge shows increased strain on Israel's coalition, which is dominated by far-right parties. Defence Minister Yoav Gallant on Wednesday demanded clarity on post-war plans and for Netanyahu to forswear any military reoccupation of Gaza. Armed wings of Hamas, the Islamic Jihad, and Fatah said fighters attacked Israeli forces in Jabalia and Rafah with anti-tank rockets, mortar bombs, and explosive devices already planted in some of the roads, killing and wounding many soldiers. Israel's military said 281 soldiers have been killed in fighting since the first ground incursions in Gaza on Oct 20. At least 35,386 Palestinians have been killed in Israeli strikes since Oct. 7, according to the enclave's health ministry, while aid agencies have warned repeatedly of widespread hunger and dire shortages of fuel and medical supplies. In the Hamas cross-border attack on Oct. 7, 1,200 people were killed, according to Israeli tallies. About 125 people are believed to remain in captivity in Gaza. In Rafah, where Israeli tanks thrust into some of the eastern suburbs and clashed with Palestinian fighters, residents said Israeli bombing from the air and ground persisted through the night into Saturday morning. Rafah had been sheltering more than one million displaced Gazans. UNRWA, the main U.N. aid agency for Palestinians, said on Saturday that nearly 800,000 Palestinians have fled the city since Israel launched its ground operation there on May 6. Israel says it must capture Rafah to destroy Hamas and ensure the country's security.