Glenn Maguire, chief economist (Asia Pacific) at Societe Generale, says that the Fed may raise rates once more, before pausing.\n\n
He adds that it is unlikely to see the Fed rate move above 5.5%.\n\n
The rupee had plunged by 48 paise, logging its biggest fall in more than five weeks, to close at over one-month low of 61.13 against the greenback on Monday following demand for the US currency from importers.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
The Pool B comprises Chinese Taipei, Japan, Thailand and Korea.
In signs that the country's growth is on track, the economic activity across the country improved in recent months, according to the US Federal Reserve.
It could be a tough week In the run-up to such an event, the market is always nervous.
He particularly expressed his disappointment with the US seeking more market for its goods in the developing economies, while putting restrictions on its import of services.
US won 4-1 against Argentina in the Fed Cup World Group II tie.
The mid-and small-cap segments at the bourses have outperformed their larger peers thus far in fiscal 2023-24 (FY24). While the S&P BSE Small-cap index has surged around 5.7 per cent in FY24, the S&P BSE Midcap index has gained 4 per cent during this period. In comparison, the S&P BSE Sensex has moved up around 2.2 per cent.
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
The US Federal Reserve on Wednesday surprised the markets by saying it will continue with its monthly $85-billion bond buying programme and wait for more evidence of growth recovery.
The chances of a rate cut in September have risen.
Crucially, the US central bank softened the blow by making its forward guidance even more dovish.
She pulled out of the Fed Cup semi-finals against the US as she is not fully fit.\n
It is operations of a different kind at the international airport here when FedEx's "midnight hub" comes alive, taking advantage of the complete pause in the activities at the airport for four hours every night.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
In the offshore non-deliverable forwards, the one-month contract was at 61.56/66, while the three-month contract was at 62.16/26.
With US Fed increasing interest rates to 3%, equity money flows into emerging markets like India could be impacted in the medium term.
The US economy could show resilience around the second or third quarter on the housing front, which will increase chances of rate hikes
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
State Bank of India was the biggest loser in the Sensex pack, shedding 1.69 per cent, followed by Asian Paints, Kotak Mahindra Bank, HCL Technologies, Reliance Industries, Wipro, IndusInd Bank, Infosys, Power Grid and HDFC twins. In contrast, Nestle, Maruti, Bharti Airtel, Tata Motors, ITC and Hindustan Unilever were among the gainers.
Netherlands' dream run in the Fed Cup ended agonisingly short of the final when they lost the deciding doubles rubber of a thrilling semi-final against France in Trelaze.
What's different this time is that global financial stress -- which has its genesis in four policy choices made in recent years -- is juxtaposed with a more resilient real economy, observes Sajjid Z Chinoy, chief India economist at J P Morgan.
This was the weakest endorsement ever extended to a chairman in the central bank's 96-year history.
Equity benchmarks declined on Thursday after a two-day rally, mirroring a weak trend in the US markets and fresh foreign fund outflows. Weak US consumer data and hawkish comments from the Fed's policymakers dragged markets lower. The 30-share BSE Sensex dropped 187.31 points or 0.31 per cent to settle at 60,858.43.
Benchmark indices finished on a weak note on Thursday, extending their previous day's decline amid a negative trend in global equity markets after the US Fed hiked interest rates by 75 basis points. The 30-share BSE Sensex declined 69.68 points or 0.11 per cent to settle at 60,836.41. During the day, it tanked 420.95 points or 0.69 per cent to 60,485.14.
Markets end higher ahead of Fed outcome, China stimulus
Former World No 1 Ana Ivanovic has pulled out of Serbia's Fed Cup World Group playoff tie with Slovakia next month over poor form.
Market participants attribute the stability to the Reserve Bank of India's timely intervention in the foreign exchange market, both in terms of selling and buying dollars.
Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers. Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
The Madras high court has observed that persons in power should realise the danger of remarks with "fissiparous tendency" and pulled up the police for their alleged failure to take action against some ruling DMK ministers who had participated in an anti-Sanatana Dharma meeting held in Chennai in September.
Victories over the Philippines and Chinese Taipei put India in sight of a place in the final in the Asia-Oceania zonal qualifying round.
For a variety of reasons it would seem that endangering the dollar is in the interest of the Wall Street at this point in time. The Fed has merely obeyed its masters at Wall Street. Good luck to the US dollar!
The world economy has been run for too long by finance enthusiasts. It is time that finance sceptics began to take over.
Historically, March has been a volatile month for Indian equity markets. To begin with, it marks the end of a financial year, wherein there is some compulsive portfolio rebalancing trade by large funds - domestic and foreign. Retail investors, too, prefer to 'cash in' on their gains and losses before the financial year runs out.
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