RBI Governor Raghuram Rajan on Friday said keeping inflation low is the key task for sustainable economic growth of the country.
India's record current account deficit has been a key reason behind why Standard & Poor's and Fitch Ratings cut their outlooks on the country's sovereign rating to 'negative' last year.
After turning net buyers for the fifth straight month till June, foreign portfolio investors (FPIs) withdrew a net of Rs 11,743 crore ($1.7 billion) in July. This was their highest outflow since October 2018.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
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National auditor says a significant part of NPAs was due to fraud and may never be recovered
An immediate RBI rate cut will lower lending rates for banks' MSME/retail/mortgage loans before the 'busy' industrial season ends in March.
Deposit rates for non-resident Indians may rise following Tuesday's rate hike by the US central bank Federal Reserve and due to the impact of forthcoming India Millennium Deposit redemptions worth over $7 billion, bankers said on Wednesday.
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities on the back of a steady fall in Covid cases coupled with a sharp economic recovery in India, reports Puneet Wadhwa.
The Reserve Bank of India (RBI) is expected to hold its policy interest rate at 6.75 per cent next week to stifle inflation.
This flight of capital began in early August due to risk-aversion created first by rising geopolitical tensions due to North Korean aggression and second by the US Fed's decision to shrink its balance sheet
The rupee surged to its highest level in five weeks to end at 65.58 by gaining 38 paise against the US currency.
Indian markets rose 19 per cent in the first half of this financial year, the best performance by any market during this period, globally.
Foreign brokerage HSBC has said it expects the rupee to trade at 60-levels by December against the dollar even though risks on the domestic unit from both external and domestic fronts have increased.
Sensex to end this year at 27,500 and reach 29,000 by mid 2016.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
In response the BRICS - Brazil, Russia, India, China and South Africa - have taken steps to strengthen cooperation such as setting up a joint development bank
Reserve Bank of India Governor Raghuram Rajan, in a hurriedly called press conference, said that the central bank has now routed back most of the dollar demand from oil companies to the market.
This is the fourth straight weekly plunge for both the indices.
In the Sensex pack, Vedanta took the biggest hit (5.55 per cent), followed by Tata Motors, SBI, Yes Bank, Bharti Airtel and Infosys, which lost up to 4.50 per cent.
Since the burden of 'reserve' tax has fallen primarily on SMEs as they depend on bank finance, a further hike in its Cash Reserve Ratio will definitely hit the SMEs and small savers.
With Greeks' rejection of rescue package from creditors spooking markets, the government on Monday asserted that India is well insulated from the crisis but rupee may be affected due to the outward flight of investment.
The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35
'Rising Covid cases and localised lockdowns are being closely monitored.'
Unless there is a sharp uptick in oil prices, Fed may push back rate hike
RBI awaits fiscal stance, inflation to cool off to decide on rates.
Rupee, he said, is not in shambles and "we should not be overtly pessimistic".
So, what's the problem if our present is screwed up when the future promises to be profitable? It's an Indian habit, notes Shyam G Menon.
The Fed's interpretation of the increase in gas prices is the economist's basic mantra of supply and demand.
The sale will be quicker if an Indian private bank buys it; it will take longer for regulatory clearances if a foreign bank or an NBFC buys it, points out Tamal Bandyopadhyay.
Gold has risen sharply due to rising risk aversion
Global events will continue to be in the limelight, besides domestic policy.
Gold was among the least bruised by Monday's selloff, dropping half a percent versus a 6 percent slide in Brent crude and a 2 percent decline in copper.
A video of Head Constable Iqbal Singh feeding the boy has gone viral on social media and has won plaudits for the security forces operating in Kashmir.
The decline bolstered bets that the Federal Reserve will hike interest rates in mid-2015
This brings the Fed a step closer to raising interest rates this year
US brokerage Bank of America-Merrill Lynch on Tuesday said its sees the first rate cut this fiscal only in March next as inflation is expected to fall only by December end on a decline in commodity prices driven by the US Fed tapering.
Given the uncertainties around gold's future course, stagger your purchases and buy on declines, says Sanjay Kumar Singh.
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The rupee gained 8 paise to close at over two-week high of 61.23 against the US dollar in the previous session.
