"The shift is gradually happening more on account of favourable risk-reward for stocks in these sectors and the shift would be more pronounced as investors roll over their targets to 2017," the head of research at a foreign brokerage said.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
For the first time, the rupee declined to the low level of 80 against the US dollar in intra-day spot trading on Monday before ending the session 16 paise lower at 79.98 amid a surge in crude oil prices and unrelenting foreign fund outflows. At the interbank forex market, the local unit opened at 79.76 against the greenback but lost ground to touch the psychological low mark of 80 against the American currency. The local unit clawed back some lost ground and closed at 79.98, registering a fall of 16 paise over its previous close.
The Nifty ended down eight points at 5,080. The BSE market breadth was marginally positive. Out of 2,937 stocks traded 1,692 advanced while 1,156 declined.
'We have relatively strong growth and a healthy corporate earnings cycle as positives, but a worrisome current account deficit and high inflation as challenges.'
Most Asian currencies are on a slide on worries about the withdrawal of US stimulus.
The one total disaster scenario for global markets has always been if investors lose confidence in dollar-based assets.
Ensure that the meals provided in their tiffins and snack breaks are colourful, says Dr Imran Patel.
The only amount that is actually committed in the Europe rescue package is 60 billion pound from an EU emergency fund
Economists polled in a recent survey by Ficci unanimously felt that the rupee will continue to be under pressure in 2018-19
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.
The Indian rupee has fallen by almost 11 per cent since August 1, thanks to rising risk aversion.
The inflation data for May and the US Fed interest rate decision are the crucial factors that would dictate terms in the equity market this week, analysts said. Moreover, foreign fund trading activity, movement of rupee and crude oil prices would be the other key monitarables for the markets, they added. "All eyes will be on the US FOMC (Federal Open Market Committee) decision scheduled on June 15, and the market is fearing aggressive rate hikes amid inflation monster. "Bank of Japan will also announce its credit policy on June 17.
A potential risk to the rupee's appreciation trajectory lies in the event of a delay in the Federal Reserve's rate cut cycle, particularly if core inflation in the US remains elevated.
The polls are being viewed as a run-up to the general elections scheduled for May 2019 and will test the popularity of the government and its policies amid rising crude oil prices
Reports (not denied by India) that the USA had 'for the first time provided real-time details to their Indian counterparts on the Chinese positions and force strength in advance of a PLA incursion' into Tawang at the LAC in December 2022, helping India thwart China's expansionist designs, show how operationally effective the USA-India friendship has become on the ground. A engaging excerpt from Sreeram Chaulia's must-read new book, Friends: India's Closest Strategic Partners.
'When the gold price rises rapidly, India's physical gold market remains on standby.'
In 2015, foreign investors slowed net buying of Indian equities.
Sentiment continued to be weighed down by the government's move last week to withdraw high-value currency notes and disappointing quarterly earnings by some more blue-chip companies, brokers said.
Near-term movements of INR will continue to be shaped by the capital flows situation, which in turn will be influenced by developments in Europe.
Indian companies typically have higher return on equity.
The markets are in bubble territory.
After two months of buying, foreign portfolio investors (FPIs) have turned net sellers in October by pulling out Rs 12,278 crore from Indian markets. As per depositories data, FPIs took out Rs 13,550 crore from equities but invested Rs 1,272 crore in the debt segment during October 1-29. The total net outflow stood at Rs 12,278 crore during the period under review.
The Nifty's put-call ratios are very bearish.
Shares of Adani Group companies were in focus during Monday's session, with four of the six listed stocks being locked in the upper circuit of 5 per cent, bouncing back up to 11 per cent from their respective intra-day lows on the BSE. Adani Green Energy (Rs 1,115.85), Adani Transmission (Rs 1,297.65), Adani Total Gas (Rs 1,321) and Adani Power (Rs 120.60) were locked in 5 per cent upper circuit on the BSE. Adani Ports and Special Economic Zone (APSEZ) and Adani Enterprises rallied over 7 per cent and 6 per cent, respectively, in intra-day trade. In comparison, the Sensex rose 0.44 per cent to 52,574.46 on Monday. Last week, all Adani group stocks had come under pressure after a media report suggested that the National Securities Depository (NSDL) had frozen accounts of three foreign funds that own stake in four of Adani Group companies.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
In the state of the economy report, the RBI said bond vigilantes could undermine the recovery, unsettle financial markets, and trigger capital outflows from emerging markets.
'The market was expecting the Budget to do more, given the domestic economic slowdown and global uncertainty. Over the next few days, the market is expected to absorb the volatility.'
From the Sensex pack, Infosys, HCL Technologies, Infosys, NTPC, Mahindra & Mahindra, Tata Consultancy Services, Nestle, Tech Mahindra and Bajaj Finance were the major gainers. Power Grid, Larsen & Toubro, Maruti, Titan, HDFC Bank, Wipro, HDFC and ITC were among the laggards.
We asked colleagues, present and past, to reflect on a man who has made such a difference to their lives and careers. Here it is then, a rich collection of memories that offer enchanting glimpses of the enigmatic Ajit Balakrishnan.
'While foreign institutional investor flows are still negative, they will turn positive in the latter part of 2023 as India's resilient growth becomes perceptible.'
The next 12 months will be quite challenging marked by uncertain political events and evolving macroeconomic scenario
The International Monetary Fund (IMF) has said India and China will account for half of the global economic growth in 2023, as the multilateral agency retained its growth forecast for Asia's third-largest economy for 2023-24 (FY24). "India remains a bright spot. Together with China, it will account for half of global growth this year, versus just a tenth for the US and euro area combined," the IMF said in its latest update to the biannual World Economic Outlook. Growth in India is set to decline from 6.8 per cent in 2022 (FY23) to 6.1 per cent in 2023 (FY24) before picking up to 6.8 per cent in 2024 (FY25), the global lender said while citing "resilient domestic demand despite external headwinds".
Covid-19, US yields, dollar to weigh on equity flows in the near term.
'A soft landing of the Indian economy would be a long-term positive for the equity markets.'
China's devaluation creates new risk in global financial markets and could prolong the West's slowdown.
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
The rupee has depreciated 10.5 per cent against the dollar this year, making it Asia's worst-performing currency.
Investors should now be looking at trimming their portfolio and making prudent investment decisions
Equities in India saw record FPI inflows of $16.8 billion in November and December, taking the benchmark indices to new highs.
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