IT stocks attracted robust demand on Monday, rising by as much as over 2 per cent, on hopes that the rupee's weakness will boost dollar revenues of the software firms.
The broader NSE Nifty, after cracking below the key 10,300-mark, touched a low of 10,211.25, before finally ending 134.75 points, or 1.30 per cent, down at 10,226.55.
The panel suggests family head must be valued at skilled wage rates.
Growth remains weak, inflation is within 2-6% range, rate cut would help recoup forex reserves
The company, which sells every second car in the domestic market, said it expected production and sales to grow between 4 per cent and 8 per cent for the financial year started in April.
With rupee falling to new lows, losses on diesel and cooking fuel have widened to their highest levels this year, upsetting the government's subsidy maths.
Geo-political concerns over death of a Saudi journalist, Brexit and likely breach in Italy's budget also kept investors cautious.
Asian emerging market stock prices did see a bounce post Fed-talk.
According to HSBC, the 'storm has abated' for the Indian markets as the US Fed has deferred tapering of its quantitative easing stimulus, and as the new Reserve Bank of India Governor Raghuram Rajan has taken steps to contain the rupee fall.
India's manufacturing sector activity contracted for the second consecutive month in September as both output and new orders witnessed a decline, an HSBC survey said.
'Nothing will stop India's top three-four corporates who have become aggressive players in the agri-markets after Modi came to power from acting in concert to drive down at will the prices at which they buy from farmers.' 'These corporate houses have the wherewithal to purchase all the farm produce at low prices and store them for a long period of time.' 'Once the harvest season is over they will sell the same produce at higher prices.'
Though inflation, on the basis of the wholesale price index, is nowhere near the 1990-91 level of 10.26 per cent and India is in a much better position to check it, the greater integration of our economy with the globe has exposed it to a much higher risk of imported inflation.
The yield on the 10-year bond may fall to 8.70 per cent due to FII flows in debt.
With the rupee continuing to remain weak against the US dollar, losses on diesel have climbed to Rs 9.45 per litre, upsetting the government's subsidy maths.
The December quarter, generally a soft one for India's IT sector due to holidays and furloughs in certain sectors, is expected to be further affected because of currency volatility.
new structure would bring cost savings of 100 million euros.
It would be advisable to look to companies that reported attractive growth during the first quarter, says Mudar Patherya
He also indicated that the current position of the rupee is competitive against world currencies.
Flooding this monsoon underscores the need to buy home insurance, says Tarun Mathur.
In dollar terms, the Indian markets managed to climb back to 2008 levels only in January this year. The subsequent fall in the rupee because of emerging market woes has once again pushed the markets below their 2008 level in dollar terms.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
Good performances by most information technology (IT) companies in the September quarter and improved forecasts notwithstanding, with the exception of Infosys, stocks of IT biggies such as TCS, Wipro and HCL Technologies have fallen three to nine per cent since Infosys announced its earnings on October 11.
Global gold prices held below $1,200 an ounce this week.
In the currency markets, the rupee lost another 10 paise to close at 1-week low of 63.54 against the US dollar
Indian reserves stood at $343 billion at the end of March 2015.
The marginal rise in June headline inflation to 4.9 per cent may be a precursor to a pronounced increase in the coming months and RBI is unlikely to cut rates at the forthcoming policy meet on July 30, say analysts.
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
Monetary policy easing, coupled with the relaxation of lending rules and greater election-driven fiscal spending in the first quarter of 2019, will provide some support to growth during the first half of 2019-20 fiscal
The majority in the markets believe that a September lift-off is likely.
We should not see a strong rupee as strength but target a fairly priced rupee for restoring our competitiveness, says Rashesh Shah.
The dollar index was up by a whopping 0.45 per cent against basket of six major global rivals, which also pushed the rupee to log its biggest daily loss since September 15.
The rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
Supported by greater demand from both domestic and external markets, total new business rose at the fastest pace since March
Flexibly targeting inflation is consistent with a demand stimulus, says Ashima Goyal.
'Earlier, when they were selling tickets at Rs 1,000, a family of five could travel by flight.' 'When it comes to realistic pricing and the price becomes Rs 5,000, a family of five will have shell out Rs 25,000.' 'How many will be able to afford that?' 'You will see people switching back to train travel which is more realistic.'
Buying an auto insurance cover? Beware of these myths
The rupee has depreciated by about 25 per cent in the past three months, from close to Rs 83 in mid-May, while it was even higher at about Rs 80 against the British Pound in March.
Tracking a steep fall in local share market, the Indian rupee on Tuesday washed out initial gains and ended with a loss of 16 paise
The government's fiscal deficit may exceed the target of 4.8 per cent of GDP by 0.50 percentage points in this financial year, and money-guzzling measures like decision to push the Food Security Bill are only expected to complicate the matter.
These measures are part of initiatives by these nations to attract Indian tourists, says Aneesh Phadnis.
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