'Three external members of the first MPC are respected researchers with excellent academic background, but there is no harm in considering academicians with diverse backgrounds such as finance and labour along with economists for this body,' recommends Tamal Bandyopadhyay.
The markets are showing no signs of stability as the economic impact of the coronavirus outbreak is likely to be significant for many major economies.
The 30-share Sensex gained 118 points to end at 27,394.
The BSE Sensex surged over 442 points to close at its life-time high of 38,694.11 and the broader NSE Nifty ended at a fresh record of 11,691.95, rising 134.85 points.
Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities on the back of a steady fall in Covid cases coupled with a sharp economic recovery in India, reports Puneet Wadhwa.
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
The 30-share Sensex ended up 390 points at 26,637 and the 50-share Nifty closed 118 points higher at 7,961.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
Experts recommend buying gold as the fundamentals supporting a rally have not changed.
Indian markets on Thursday shrugged off any negative impact.
The broader NSE Nifty sank 252.55 points, or 2.14 per cent, to 11,558.60.
'Rising Covid cases and localised lockdowns are being closely monitored.'
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
Observing that US' economic recovery is proceeding at a moderate pace, US Federal Reserve Board chairman Ben Bernanke said on Wednesday the central bank might need to intervene if policymakers enact short-term spending cuts that hurt growth.
The S&P BSE Sensex surged 217 points to end at 25,736.
Experts say foreign investor sentiment was bolstered by the US Federal Reserve's decision to go slow with interest rate hikes and hopes of political stability.
Top gainers in the Sensex pack included Tata Steel, Kotak Bank, NTPC, HDFC twins, PowerGrid and ONGC, rising up to 4.60 per cent.
Instead of getting swayed by market gyrations, investors must stay invested for the long term, advises Sarbajeet K Sen.
The rupee ended lower by six paise at 65.73 against the US dollar on Monday.
A strong and stable dollar is both in the American interest and in the interest of the global economy, US Federal Reserve Board chairman Ben Bernanke said on Wednesday.
Given the impact Covid-19 pandemic had over the world economy, analysts expect global central banks, especially the US Fed, to keep the liquidity tap open, which, in turn, is likely to keep the equity markets, especially those in the emerging markets, buoyant.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
The apex bank also noted that manufacturing activities slowed down in certain parts of the country.
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
President Donald Trump has tapped Jerome "Jay" Powell to lead the US central bank, bypassing Janet Yellen for a second term despite praising her excellent management of the world's largest economy over the past four years.
In the Sensex pack, Yes bank emerged as the biggest loser, falling 9.13 per cent, followed by IndusInd Bank (6.6 per cent), HeroMotoCorp (6.01 per cent), Sun Pharma (4.79 per cent) and SBI (4.70 per cent).
In the past four months, more than 4 million new accounts have been opened, taking the total to 44.3 million.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
The 50-share Nifty scaled a high of 10,227.30 intra-day but succumbed to profit-booking to finish at 10,155.25
There are already some signs of stress in this market.
Economists warn of the impact that a Fed rate rise could have on emerging economies.
The 30-share Sensex ended up 255 points at 26,219.
Attributing to people familiar with the plan, the Financial Times said that SEC and Federal Reserve officials were warned by Merrill Lynch about Lehman's balance sheet calculations as far back as March 2008.
Investor wealth on Thursday soared by Rs 1 lakh crore, triggered by heavy buying in the stock market, with the BSE benchmark Sensex surging about 382 points to close at near six-week high levels.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
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