Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
Hawkish guidance by the US Fed raises concerns it could tie the hands of RBI from trimming rates.
From the Sensex basket, NTPC, Power Grid, IndusInd Bank, Tata Steel, Tata Motors, JSW Steel, Tech Mahindra and Larsen & Toubro were the biggest gainers. Bharti Airtel, Maruti, ICICI Bank and Asian Paints were the laggards.
The bias for the BSE benchmark index, technical charts suggest, is likely to remain bullish as long as the index holds above 75,600 levels for the rest of the year.
Fed policymakers' deepening uncertainty about their own projections has resulted in the central bank sending mixed messages
As the results season kicks in, the quarterly earnings numbers of several blue-chip firms -- such as Infosys and Reliance Industries -- along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June -- scheduled to be announced on Monday -- will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
In signs that the country's growth is on track, the economic activity across the country improved in recent months, according to the US Federal Reserve.
Asian emerging market stock prices did see a bounce post Fed-talk.
US's terrible political and economic leadership will ultimately cost the dollar its value. India must act early to avoid being dragged down, suggests R Jagannathan.
Debt mutual fund (MF) schemes, which witnessed relatively muted inflows in the past three years, saw a surge in investor interest in April amid election-induced volatility in the equity markets. Active debt funds garnered nearly Rs 66,000 crore net inflows in April, most at least since December 2020.
Years of unprecedented stimulus has left the Fed swollen with $4.5 trillion in bonds
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
The Fed has said it wants to be "reasonably confident" in the inflation outlook before a rate hike.
Getting out of the zero-rate armchair was overdue, and many in the market will be glad it has finally happened
Many things are going unnoticed by India watchers.
The Reserve Bank of India on Friday revised upwards the GDP growth projection for the current fiscal to 7.2 per cent from 7 per cent on rising private consumption and revival of demand in rural areas. Unveiling the bi-monthly monetary policy, RBI Governor Shaktikanta Das said estimates released by the National Statistical Office (NSO) placed India's real gross domestic product (GDP) growth at 8.2 per cent in 2023-24. "During 2024-25 so far, domestic economic activity has maintained resilience," he said, adding that manufacturing activity continues to gain ground on the back of strengthening domestic demand.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
Improvements in the labour market has triggered this sentiment.
India is more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals
Market breadth is positive with 942 advances and 196 declines.
Markets now expect the Fed to normalise rates gradually.
The risk of a collision between the Federal Reserve and the markets grew on Friday after Fed governor Randall Kroszner made it clear that the US central bank was not planning to cut interest rates at its next policy meeting, but was largely ignored by investors.
Also keenly watching inflation numbers, with wholesale inflation data expected today
RBI will not follow US Federal Reserve's cue of cutting rates, as Indian conditions differ greatly from US.
The rupee had plunged by 48 paise, logging its biggest fall in more than five weeks, to close at over one-month low of 61.13 against the greenback on Monday following demand for the US currency from importers.
Rajan has ignored pressure to loosen policy.
RBI's tricky strategy to ease market's pre-Fed jitters.
Fed keeps rates unchanged, sets up possible December hike
India's top singles player Sumit Nagal on Friday returned to the Davis Cup team for the World Group I tie against Sweden but Yuki Bhambri has opted out of the September 14-15 contest,
There is anecdotal evidence that the US economy is really, sharply slowing.
Global fund managers remain bullish on the Japanese stock markets, which is now their most preferred destination in the Asian region. Both Morgan Stanley and Jefferies in their recent reports, have cited their preference for the Land Of The Rising Sun, which is fast becoming the land of the rising equities, too.
The Federal Open Market Committee, which decides on rates, struck a positive note, saying economic activity had continued to pick up in recent months and the housing sector is improving.
Foreign portfolio investors (FPIs) sold shares worth Rs 20,170 crore ($2.4 billion) recently. This marked the fifth-highest weekly outflow from overseas funds since the beginning of 2008 and the largest since the last week of March 2020. Due to the Covid scare, FPIs had sold shares worth Rs 21,951 crore during that week, causing the market to decline by nearly 20 per cent.
The year 2015 may well turn out to be a watershed in global macroeconomic adjustment.
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
The central bank maintained its bias towards a rate hike.
Sania Mirza will lead the four-member Indian side in the upcoming Asia/Oceania Group I tie of the Fed Cup tennis tournament.
