The Indian equity market is likely to remain under pressure and rangebound over the next few months. This comes as global central banks, led by the US Federal Reserve look at a possibility of hiking rates aggressively to tame inflation. Back home, the Reserve Bank of India, too, remains data dependent in its endeavour to keep inflation in check and pursue an aggressive monetary policy stance.
He particularly expressed his disappointment with the US seeking more market for its goods in the developing economies, while putting restrictions on its import of services.
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.
The US Federal Reserve on Wednesday surprised the markets by saying it will continue with its monthly $85-billion bond buying programme and wait for more evidence of growth recovery.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
Crucially, the US central bank softened the blow by making its forward guidance even more dovish.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
For the Stalin government to win back the confidence of voters ahead of the Lok Sabha polls, post-flooding restoration works, their speed and efficacy would be closely watched, and not just by the political Opposition, notes N Sathiya Moorthy.
It is operations of a different kind at the international airport here when FedEx's "midnight hub" comes alive, taking advantage of the complete pause in the activities at the airport for four hours every night.
In the offshore non-deliverable forwards, the one-month contract was at 61.56/66, while the three-month contract was at 62.16/26.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
Equity benchmark indices Sensex and Nifty stayed on the back foot for the second straight session on Friday as investors offloaded FMCG, IT and teck stocks amid a weak opening in European markets. Selling pressure in index heavyweight Reliance Industries also added to the weak trend in equities. The 30-share BSE Sensex fell 223.01 points or 0.35 per cent to settle at 62,625.63.
Netherlands' dream run in the Fed Cup ended agonisingly short of the final when they lost the deciding doubles rubber of a thrilling semi-final against France in Trelaze.
She pulled out of the Fed Cup semi-finals against the US as she is not fully fit.\n
rediffGURU Anu Krishna offers advice on how to take control of your life and relationships.
India ended its campaign at the Fed Cup with a fourth place finish after losing the classification tie 1-2 to Korea as the team badly missed injured Karman Kaur Thandi, who did not play on Saturday, in Astana, Kazakhstan.
With US Fed increasing interest rates to 3%, equity money flows into emerging markets like India could be impacted in the medium term.
The US economy could show resilience around the second or third quarter on the housing front, which will increase chances of rate hikes
Markets end higher ahead of Fed outcome, China stimulus
Springing a surprise, Pawar on Tuesday said he was stepping down as the chief of the Nationalist Congress Party
Benchmark indices Sensex and Nifty ended with gains on Wednesday, extending the previous day rally amid lower level of inflation on domestic front and better-than-expected inflation readings from the US. The 30-share BSE Sensex climbed 144.61 points or 0.23 per cent to settle at 62,677.91. During the day, it jumped 301.81 points or 0.48 per cent to 62,835.11.
Trading in the equity market this week will be highly influenced by a host of important triggers, with quarterly earnings from IT majors TCS, Wipro, and domestic inflation and IIP data taking the centre stage in dictating the movement in equities, analysts said. Besides, global factors and trading activity of foreign investors will also drive markets. "We are approaching the first quarter earnings season, with HCL Tech, TCS and Wipro set to report their earnings this week.
This was the weakest endorsement ever extended to a chairman in the central bank's 96-year history.
Former World No 1 Ana Ivanovic has pulled out of Serbia's Fed Cup World Group playoff tie with Slovakia next month over poor form.
Equity indices chalked up losses for the second straight session on Monday, in tandem with a bearish trend overseas as ratcheting up of hostilities in Ukraine and prospects of further rate hikes by the US Fed soured global risk sentiment. The rupee slipping to another all-time low against the US dollar amid foreign fund outflows added to the gloom, traders said. After tumbling over 800 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 200.18 points or 0.34 per cent lower at 57,991.11.
Equity benchmark index Sensex buckled under selling pressure for the second straight session to close below the 65k mark on Friday, as investors offloaded IT, teck and metal stocks amid a bearish global trend. Besides, fresh foreign fund outflows also hit investor sentiments, traders said. In a volatile trade, the 30-share BSE Sensex declined 202.36 points or 0.31 per cent to settle at 64,948.66.
US gold futures slid over 1 per cent on Thursday, while silver futures dropped 2 per cent.
'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.'
For a variety of reasons it would seem that endangering the dollar is in the interest of the Wall Street at this point in time. The Fed has merely obeyed its masters at Wall Street. Good luck to the US dollar!
The world economy has been run for too long by finance enthusiasts. It is time that finance sceptics began to take over.
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