India's economy is forecast to grow at 4.8 per cent in 2013, down 1.3 per cent from its earlier projection, the UN's World Economic Situation and Prospects 2014 report said.
However, volatility is likely to be on the rise, said Benjamin Yeo, MD & CIO (Asia & Middle-East) for Wealth & Investment Management, Barclays.
In New York market, the dollar fell against euro late yesterday, as European Central Bank President Mario Draghi said that central bank officials had discussed quantitative easing as an option to fight falling inflation.
The broader NSE Nifty managed to end higher for the second day at 10,426.85, up by 5.45 points or 0.05 per cent after shuttling between 10,478.60 and 10,377.85, intra-day.
This will encourage exports and discourage non-essential imports such as precious metals
The Reserve Bank has taken some steps to shore up the domestic currency.
A widening probe by US authorities involving top drug companies following complaints of price fixing of generics was a point of worry for the participants, said analysts.
The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
'We are not producing good students who are examining issues independently of what they are being fed either by the media or their educators,' says Aakar Patel.
The dollar's gains against other currencies overseas and a lower opening in the domestic equity market also put pressure on the local unit, forex dealers said.
As we say shalom to 2016, the key drivers for the markets in the year ahead have become more obvious, says Neeraj Gambhir, managing director and head of fixed income, India, Nomura. First, there is a surging dollar. Second, rising commodity prices. Then, we have the effects of demonetisation.
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
World champion Nico Rosberg's retirement announcement on Friday came as a complete surprise even to the man who knows most of Formula One's best-kept secrets, commercial supremo Bernie Ecclestone.
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.
Global private equity major KKR has ranked India second among the emerging markets on external risks, citing the high fiscal and current account deficits.
The dogs, who are fed regularly by the CRPF personnel, continued to bark, giving the personnel an idea that there were people hiding in a particular area.
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The newly-appointed Governor Raghuram Rajan said on Wednesday Reserve Bank of India will offer a window to banks to swap the fresh FCNR-B dollar funds, mobilised for a minimum tenor of three years and over, at a fixed rate of 3.5 per cent per annum. According to Bank of America Merrill Lynch, "the move should fetch $8-10 billion", adding that the move would help in shifting rupee risks away from NRIs at a time of extreme volatility.
The US Federal Reserve on Wednesday night hiked interest rates by 0.25%.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
So far in 2019, India has been one of the highest recipients of foreign flows among Asian and Emerging Market (EM) economies
RBI has, since January, cut its policy rate four times.
Indian equities are in a multi-year bull story with capex cycle recovery as the main driver.
Rajan also said it's a problem of collective action and not a problem of industrial nations or emerging markets
India's gross domestic product growth rate slipped to 7%.
With the two latest resignations, 16 MLAs -- 13 from the Congress and 3 from the JD-S -- have quit while two Independent MLAs -- H Nagesh and R Shanker -- have already withdrawn support.
As the economy teeters between bad and worse, one question looms: What's the best course of action? Here's what can be done. And what can't
Investor wealth on Thursday soared by Rs 1 lakh crore, triggered by heavy buying in the stock market, with the BSE benchmark Sensex surging about 382 points to close at near six-week high levels.
RBI has reiterated its faith in the Indian economy but it has also put forth some key concerns that have the potential to derail the growth engine.
If indeed we want the board to manage the RBI, probably the government should take a close look at the US Federal Reserve system which has a two-part structure - a central authority in Washington, DC, and a decentralised network of 12 Federal Reserve Banks located throughout the country, says Tamal Bandyopadhyay.
Interest rates still aren't low enough to stimulate the U.S. economy. Washington needs to engender more inflation so "real" rates turn substantially negative
Unprecedented as it is, this steep cut in the interest rates effected by the Fed has the potential to dynamite the US dollar, the US economy and, by extension, the global economy.
Index majors NTPC, BHEL, Reliance Reliance Energy, Reliance Communications and HDFC, DLF, TCS, SBI and Bajaj Auto have zoomed.
The rupee is stable, and a number other of measures have been taken to bring stability in the capital market, the FM said.
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According to the global financial services major, the primary concern for the RBI at the moment has to be anchoring elevated inflation expectations and stabilising the currency, which could face renewed pressures if the Fed begins QE tapering this week, as widely expected.
The flows may stem and redemptions pressure increase following the market meltdown of Monday amid mounting cases of coronavirus infection globally.
The rupee is likely to strengthen to 60-61 level by this fiscal-end on expectations of improvement in current account deficit (CAD) and higher inflows from overseas investors.
Sensex witnessed the biggest single day gain since May 2009 in absolute terms.
The S&P and Dow dipped the most in a day since September 28.
Increased demand from oil importers for the American currency and a weak opening in the domestic stock market also put pressure on the rupee.
The rupee closed at Rs 66.21 in its last trading session.
