China's devaluation creates new risk in global financial markets and could prolong the West's slowdown.
Spread investments in equities, bonds, gold and cash to tackle volatility advise Nitin Singh, MD and head, and Vinay Joseph, director, investment strategy, Standard Chartered Wealth Management, India.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
Commercial papers, certificates of deposit also dry up
He endorsed transparency and financial stability in addition to issues related to inclusive growth and development, write Puran Singh and Nupur Pavan Bang.
The financial and commodity markets will continue to roil, as China's growth moderates and readjustments are made.
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The rupee on Friday touched an all-time low of 62.03 to a dollar, spooking the equities market and dragging the Sensex down to 18,621.39 in the afternoon.
The first major devaluation of the rupee happened in 1966 when it was pegged against the US dollar at Rs 4.75/$
Risk sentiment is likely to be favourable if oil prices stay benign, global growth sentiment remains robust and the dollar index does not break out, says B Prasanna.
T N C Rajagopalan on the new year and new worries.
Here are the key decisions announced by the Reserve Bank of India on Thursday.
It is high time to manoeuvre the rupee more effectively and predictably, even as it has to be recognised that such tweaking of the rupee needs to be accompanied by reforms to the real sector and factor markets.
Investment bankers handling the IPO had said marquee global investors made big-ticket applications.
Indian economy is doing well and the performance of domestic stock markets is not as bad as that of other nations.
Asia's falling stocks have triggered an exodus of funds from the region.
Since mid-July, the RBI has taken steps to tighten cash conditions, which have failed to support the rupee but sent bond yields surging, posing a fresh threat to the already cooling economy.
Finance Minister P Chidambaram on Monday said the currency will find its level as steps being taken by the government to contain fiscal and current account deficits will improve investor sentiments.
Indian economy was growing faster than the global average and all other major economies: FM
Crisis of growth is worsened by the challenging global environment and policy missteps. Returning to 9 per cent growth trajectory will be a tall order.
Foreign exchange reserves of the oil producers have increased by $1.1 trillion over the past decade.
The biggest catch in a reverse mortgage is that you cannot move out of the house
RBI Governor Raghuram Rajan is regarded as credible by global financiers.
You can use gold as a financial instrument to diversify your portfolio into hedging against uncertainties in the market, but for ambitious returns, you must explore opportunities in other asset classes such as equities, debts and real estate, says Adhil Shetty, CEO, BankBazaar.com.
The three hour long meeting was attended by Secretaries of departments of Revenue, Expenditure, Financial services and Disinvestment.
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The Reserve Bank is scheduled to unveil its first quarter review of the monetary policy on July 30.
'In their over-enthusiasm to clean up the system, both the banks and the regulator should not forget that the key to the insolvency law is revival of companies -- recovery of bank dues is an offshoot of that,' points out Tamal Bandyopadhyay.
The yellow metal is a safe bet in the long run.
Neither India nor China will be badly affected by Grexit.
There are some advantages of a falling rupee.
A stable dollar will at minimum reduce incremental cross-currency pain for Indian cos.
S Naren, CIO of ICICI Prudential Mutual Fund, in an interview with Chandan Kishore Kant, says cyclicals will offer good value.
Raamdeo Agrawal says, an investor should figure out if the company actually makes money or not, making an investment comes later.
The central government's deposits with the RBI had fallen to just Rs 100 crore as of June 8.
'The government's principal aim should be to reduce the volume of cash transactions.' 'That would bring more of the Indian economy within the purview of taxation.' 'The current downturn in economic activity due to a lack of adequate cash is likely to be limited to a year,'
The most immediate cause of worry is the recent volatility in foreign exchange markets, Prime Minister Manmohan Singh tells the Assocham annual general meeting.
Capital flows have become much more skittish and volatile during this period, with short-term horizons dominating allocations.
CPI-based inflation on a (year-on-year) basis has come down from 8.59 per cent in April 2014 to 7.80 per cent in August 2014.
Despite the low prices, commodities are risky investments
Sweden has the world's highest negative rate.
This is the first time in the RBI's history that a governor is leaving without willing to renew his contract
