Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
The International Monetary Fund (IMF) on Tuesday said it is expecting some slowdown in the Indian economy next fiscal year and projected the growth to 6.1 per cent from 6.8 per cent during the current fiscal ending March 31. The IMF on Tuesday released the January update of its World Economic Outlook, according to which the global growth is projected to fall from an estimated 3.4 per cent in 2022 to 2.9 per cent in 2023, then rise to 3.1 per cent in 2024. "Our growth projections actually for India are unchanged from our October Outlook.
Policymakers should aspire to restore the pre-Independence environment where the rupee was trusted and used all over South Asia, in Southeast Asia, in West Asia, and in East Africa, suggests Ajay Shah.
FPIs have turned net sellers in 2022 after being net buyers in the last three years.
Global research firm Citigroup, citing data compiled by emerging market fund flow tracker EPFR, said in a report that of the outflows registered by Asian funds, investors put in $209.9 million in China-dedicated funds. Meanwhile, Asian equity funds inflow declined to $46 million in the first week of December, while it was at $350 million in the third week of November.
Baijiu is the world's most consumed form of liquor thanks to its popularity in China.
Other losers included HCL Tech, Yes Bank, IndusInd Bank, TCS, ONGC, Bajaj Finance, PowerGrid, Vedanta, Asian Paints, NTPC and Hero MotoCorp, which shed up to 4.07 per cent.
In contrast with their strong performance in 2020 and 2021, pharmaceutical and healthcare funds experienced a decline in 2022, with returns plummeting by an average 9.8 per cent. This trend has continued in the current year, with year-to-date return remaining in the negative (-4.9 per cent). In the past three months, pharma funds have been hit hard, experiencing a 7.9 per cent decline.
S&P BSE Sensex settled at 31,170, up 60 points, while the broader Nifty50 closed at record high for third straight session. It ended at 9,624, up 19 points.
P-notes are issued by registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to be a part of the Indian stock market without registering themselves directly. They, however, need to go through a due diligence process. According to Securities and Exchange Board of India (Sebi) data, the value of P-note investments in Indian markets -- equity, debt, and hybrid securities -- stood at Rs 90,580 crore at April-end, compared to Rs 87,979 crore in March.
The smartphones are priced Rs 6,399 onwards.
Given the developments, analysts do not foresee a quick recovery.
India must formulate a new growth path to become a top Asian economy.
India's service sector proportionately much larger than China's, while its investment and industrial-production shares are much lower
Bank shares were the top losers after sharp gains last week.
Commerce and Industry Minister Suresh Prabhu is slated to meet senior executives of Apple on the sidelines of the World Economic Forum in Davos later this month.
Tim Cook, CEO of Apple, recently stated that he sees India in the same position that China was seven to ten years ago
It is the fundamentals of companies that will drive stock performance.
Top gainers include Yes Bank, HUL, Vedanta, NTPC, Bharti Airtel, Adani Ports, PowerGrid and Tata Motors, rising up to 5 per cent.
The BSE gauge Sensex fell 73.88 points to 35,548.26 and the NSE Nifty slid 17.85 points to 10,799.85, taking cues from tumbling global shares.
'Similar to the case of the digital payment system where the government created a public platform and others joined in, we are exploring a similar structure to create a PPP platform where the compute required for AI could be accessed by the small player.'
From The New York Times to BBC and The Guardian to The Washington Post, the historic event in India's space programme on Wednesday made headlines across the globe.
Markets across the globe are rallying on hopes that the US Federal Reserve won't lift interest rates until 2016.
'China's economy continues to slow and the US Fed may still hike rates before the end of the year.'
Gender equality might have improved over the years but India's working women still contend with the strongest gender bias across Asia Pacific countries, says a report. According to the LinkedIn Opportunity Index 2021, more women in India have experienced the impact of gender on career development when compared to the APAC region. "In India, more than 4 in 5 working women (85 per cent) claim to have missed out on a raise, promotion, or work offer because of their gender, compared to the regional average of 60 per cent," the report said.
Chinese President Xi Jinping has called for undiminished vigilance on the prevention and control work of the COVID-19 as the situation in the Wuhan City and Hubei Province remains severe
The analysis is based on the free-float market capitalisation.
The Cabinet has approved a framework of understanding on cooperation in hydrocarbons with Bangladesh recently.
Without Google's Android operating system, Huawei may have to put off new launches.
Investors went looking for bargain in banking, oil and gas and auto stocks.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent.
There is enough scope for India and China to cooperate on nuclear energy issues despite the lingering issues which not only includes the Sino-Pakistan nexus, but also the Sino-India border dispute over the LAC, says Debalina Ghoshal.
The country's per capita income is likely to grow by close to 70 per cent to $4,000 by fiscal 2030 from $2,450 in fiscal 2023, helping it become a middle-income economy with $6-trillion GDP, more than half of which will be coming in from household consumption, says a research report. Per capita income/GDP has risen from $460 in fiscal 2001 to $1,413 in fiscal 2011 and further to $2,150 in fiscal 2021. The biggest growth driver will be external trade which may nearly double to $2.1 trillion by 2030 from $1.2 trillion in fiscal 2023 when the GDP printed in at $3.5 trillion, Standard Chartered Bank said in a weekend report which assumes a 10 per cent nominal GDP growth annually from now on.
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The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, sank to 50.6 in June from 51.3 in May, signalling the weakest increase in output since May, 2009.
According to the global financial services major, FII flows in May were mixed, with investors being more selective.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
