The 55 basis point (bps) spike in the US 10-year bond yield, triggered by a combination of FOMC's hawkish commentary and BOJ's relaxation of the yield control curve (YCC) has made analysts cautious on Asian equities and expect them to trade sideways in the short-to-medium term.
SBI was the top gainer in the Sensex pack, spurting over 2 per cent, followed by ICICI Bank, Nestle India, IndusInd Bank, M&M, Bajaj Auto and Maruti. NSE Nifty advanced 135.55 points to 14,819.05.
Defending champion and top seed Novak Djokovic moved a step closer to a fifth title at Indian Wells with a 7-6(5), 6-2 victory over long-time rival Rafael Nadal in the semi-finals of the BNP Paribas Open in California on Saturday.
Cilic's booming serve lacked its usual accuracy and Germany's Kohlschreiber was able to control long rallies, pushing the towering Croatian around the court with pinpoint groundstrokes en route to a quick victory.
IMAGES from the matches played at the PNB Paribas Open at Indian Wells on Sunday
Aided by the $57.8-billion merger of HDFC Bank and HDFC, India Inc reported its highest ever mergers and acquisitions in calendar 2022 at $171 billion as against deals worth $145 billion announced last year. The acquisition by the Adani group across cement, media and ports dominated the headlines with the conglomerate making its foray into the cement sector by buying Swiss materials firm Holcim's stake in Ambuja Cements for $6.5 billion. The Adani family's additional $4-billion open offer for Ambuja did not get a response because shareholders preferred to stay invested with the new owner.
World number two Novak Djokovic hammered Swiss Stanislas Wawrinka 6-1, 6-4 to reach the Paris Masters semi-finals on Friday.
World No 3 Maria Sharapova withdrew on Monday from the end-of-season WTA Championship in Istanbul due to the shoulder injury that also kept her out of the US Open.
Both won in style on Sunday, with Spanish fifth seed Nadal pouncing on Guido Pella's serve to break the Argentine five times en route to a 6-3, 6-2 victory in sizzling afternoon heat on the stadium hard court.
The government is mulling allowing foreign direct investment (FDI) in the country's largest insurer LIC, a move which would help overseas investors take part in the company's proposed mega IPO, sources said. The proposal is under discussion between the Department of Financial Services and Department of Investment and Public Asset Management (DIPAM). "Discussions have been going on for the proposal for the last few weeks. "It would also go for inter-ministerial discussions and would also require Cabinet nod," a source said.
India will have 30 per cent of its two-wheeler industry turning electric by 2030 as new manufacturers lead the shift, said a report on Monday. Passenger vehicles will be 15 per cent electric and the three-wheeler segment 75 per cent electric by 2030, said the report by BNP Paribas called 'India Autos-Electric vehicles: Minutes to midnight'. "We see FY22 as the year of inflection for the two-wheeler EV industry, with an accelerated EV adoption helped by incentives, wider availability, model launches, rise in crude prices and improved general awareness. We see 30 per cent of the 2W industry turning electric by 2030; the pace of incentive withdrawal presents an upside/downside risk," the report (India Autos - Electric vehicles: Minutes to midnight) said.
IMAGES from the PNB Paribas Open played at Indian Wells in California on Monday
The rupee on Friday rebounded from the near-80 levels to close higher by 17 paise at 79.82 against the US currency following a recovery in the domestic stocks and weakness in the greenback in overseas markets. The US dollar retreated from the two-decade high levels against a basket of six currencies which supported the rupee sentiment. At the interbank foreign exchange market, the local currency opened at 79.95 and witnessed an intra-day high of 79.82 and a low of 79.96 against the US dollar in the day trade. ,
Elena Rybakina knocked out defending champion Iga Swiatek at Indian Wells on Friday to set up a clash against Aryna Sabalenka in the final.
Serena Williams and Angelique Kerber, battling it out for the world number one ranking, are the first two women to qualify for the season-ending WTA Tour Finals in Singapore, the WTA said on Monday.
Serena Williams was unseeded at the French Open last month due to an extended absence for the birth of her first child but she is not likely to face the same problem at the US Open.
Out of the 30-share Sensex pack, 21 ended lower and one remained unchanged
Angelique Kerber showed more passion in the media centre than on the court when she crashed out of last year's WTA Finals, the German angered by the format and frustrated by her inability to win the set off an eliminated opponent she needed to advance.
Fintech firm MobiKwik on Monday filed a draft red herring prospectus (DRHP) with the markets regulator, Securities and Exchange Board of India (Sebi), for its initial public offering (IPO). According to its DRHP, the company plans to raise Rs 1,900 crore, which includes a fresh issue of Rs 1,500 crore and an offer for sale of Rs 400 crore. The selling shareholders include American Express Travel, Bajaj Finance, Cisco Systems and Sequoia Capital India, besides founder Bipin Preet Singh. MobiKwik is the latest among tech majors wanting to list on stock exchanges. Food delivery start-up Zomato will launch its IPO on Wednesday.
TCS, Power Grid and Infosys are among the top S&P BSE Sensex gainers
'I am not too disappointed. I feel like he had to come up with the goods, and it did feel like to some extent it was on my racquet, I just came up against somebody who was, on the day, a bit better when it really mattered'
Twice winner Maria Sharapova and reigning champion Flavia Pennetta advanced to the third round of the BNP Paribas Open on Saturday, though in sharply contrasting fashion.
The July-September quarter results of software companies in the engineering research and development (ER&D) segment were broadly in line with expectations, though there have been cuts in revenue growth guidance. While results were a mixed bag, and there are cautionary views on the near-term outlook, brokerages and global consulting firms highlight the strong growth trajectory for the sector. They expect this segment of the software sector to grow by 8-12 per cent going forward.
Sentiments in global markets, movement of rupee against the dollar and crude oil prices will dictate near-term trend
This will be the lender's first result after its merger with HDFC Ltd, effective from July 1, and will keep analysts glued to the management's earnings growth guidance for the merged financial behemoth.
'As China's reopening euphoria fizzled out on the back of some disappointing economic data, we saw inflows coming back to India with full force in the past 3-4 months.'
Daniil Medvedev was knocked out in the fourth round of Indian Wells by Bulgarian Grigor Dimitrov on Wednesday as the world number two's near-flawless start turned nightmarish in a 4-6, 6-4, 6-3 defeat.
It will be the earliest meeting between the two since their first professional match in the second round of the 1998 Australian Open.
The rupee depreciated 39 paise to an all-time low of 82.69 against the US dollar in early trade on Monday as elevated crude oil prices and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and firm American currency sapped investor appetite, forex traders said. At the interbank foreign exchange, the rupee opened at 82.68 against the greenback, then slipped further to 82.69, registering a fall of 39 paise over its previous close.
Logistic players have seen a sharp correction at the bourses over the past six months as intense competition from new-age-tech startups, higher freight rates, and weak macros dented listed players' growth outlook. Analysts warn that the emergence of tech-based startups could weigh on organised players' profit-pool, and can potentially erode their market share. Thus, a stock-specific strategy would be prudent at this juncture with focus on companies that are rapidly innovating and investing in technology.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
Fourth seed Rafael Nadal survived a few anxious moments before booking his place in the semi-finals of the BNP Paribas Open with a see-sawing 6-4, 6-3 victory over Japanese Kei Nishikori at Indian Wells in California on Friday.
Gauff survives scare, Osaka advances
Three women in the field have topped the world rankings this season, incumbent Simona Halep and her predecessors Garbine Muguruza and Karolina Pliskova, but none of them have been able to kick on and cement their place as the tour's dominant player.
A sharp rally in domestic stocks from June lows has once again rendered Indian markets expensive to their emerging-market (EM) peers. The 12-month forward price-to-earnings (P/E) multiple for the Nifty50 Index is around 20.6x - 82 per cent higher than 11.3 per cent for the MSCI EM Index. India's valuation premium has hit a five-month high. This is on the back of sharp outperformance to EM and global peers from June lows and also due to earnings downgrades, following the April-June quarter of 2022-23 earnings.
Australian Nick Kyrgios was involved in a fresh dispute after being accused of swearing at the BNP Paribas Open in California.
Seek advice from Sebi-registered investment advisors whose names are available on Sebi's Web site.
Nick Kyrgios ended Novak Djokovic's 19-match winning run at Indian Wells by beating the Serb 6-4, 7-6(3) to reach the BNP Paribas Open quarter-finals in Indian Wells on Wednesday, while Roger Federer also advanced with a straight sets win over Rafael Nadal.
Can the poll outcome be a trigger for a meaningful correction?
But trading through the route still a minuscule portion of total turnover
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