Investors still seem to have a disinflation bias to their thinking.
The overall breadth is positive as 873 stocks are advancing while 425 are declining.
Forex dealers said that weakness in the dollar against other currencies overseas also supported the rupee.
Barely days after imposing a 40 per cent export tax on onions to cool down soaring prices, which, in turn, triggered widespread protests across the main growing belts, the Centre on Tuesday sought to mitigate both political and economic tensions gripping parts of Maharashtra. It decided to procure an additional 200,000 tonnes of onions at Rs 2,410 per quintal for its buffer stock from farmers, a rate that is strikingly close to the price at which they were being exported before the 40 per cent duty was levied on August 19. The export price before the imposition of the duty stood at around $320 per tonne free on board (approximately Rs 2,650 per quintal).
A day after BRICS (Brazil, Russia, India, China and South Africa) nations agreed on a $100-billion foreign currency reserve pool to tackle the volatile foreign exchange markets, India on Friday said the pool would act as a buffer arrangement, adding it might not withdraw anything from this reserve.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
The upcoming July derivatives expiry later in the week would also add some volatility to the market proceedings.
The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
The financial and commodity markets will continue to roil, as China's growth moderates and readjustments are made.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
All evidence suggests that the US Federal Reserve will raise interest rates soon.
Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
Gold retains gains, gain nearly 3 per cent in the past three sessions.
The new series claims GDP grew at seven per cent between April and June 2015, while gross value added (GVA) grew at 7.1 per cent.
The Rupee is expected to weaken further against the dollar.
Fed is still concerned about weak export growth.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
Asian emerging market stock prices did see a bounce post Fed-talk.
64% of 800 investors polled think it will start this week but weak US data suggest it might not be aggressive.
The cost of holding one-year forward dollars rose to 482.75 basis points from 472.75 bps on Tuesday.
On Friday, the rupee had gained 9 paise to close at a fresh one-week high of 67.08.
Urjit Patel as the new RBI governor whose focus is on taming inflation has lowered the probability of interest rate cut soon
'Slower-than-anticipated recovery can be a bigger risk this time than a liquidity-driven event -- at least for India.'
The opposition alliance INDIA on Thursday announced that it will boycott shows of 14 television anchors on several platforms, a decision the Bharatiya Janata Party compared with the Emergency.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
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As many as nine respondents said RBI would hold the repo rate at 8% till March-end, 2015
'There are occasions when the prices of individual items like food raise inflation; then supply-side measures must be taken.' 'But if there is continued inflation, it means liquidity is aggravating the situation.'
In a drastic measure to stem any major disruption to the US economy as a result of the coronavirus outbreak, the Federal Reserve has cut its benchmark interest rate to almost zero and said it would buy USD700 billion in bonds. The covid-19 pandemic has sickened more than 156,000 people worldwide and left more than 5,800 dead. The death toll in the US stands at 68, while infections neared 3,700.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
Also keenly watching inflation numbers, with wholesale inflation data expected today
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
The US Federal Reserve has raised its benchmark interest rate by 0.25 per cent, only the second increase in a decade.
India has not been able to compete with countries such as Bangladesh and Vietnam.
The view among the regulator and the government is that the currency is overvalued
This has steered a rally in global equities and dollar Index also ticked higher, trading near its four year high.
In 2013, the fall in international gold prices was 28 per cent.
Fed seen holding rates steady as investor confidence shakes
Kamath said India's economic climate had started improving.
Market experts poohpooh fears of capital flight from India.
Macro and micro environment are becoming more challenging.
