But their trajectory and direction have been largely influenced by politics and the political leadership's understanding of how the economy needs to be managed, explains A K Bhattacharya.
Brokerages believe that the Bharatiya Janata Party's (BJP's) stronger-than-expected showing in state elections reduces political risks for the domestic markets going into 2024. However, after the short-term excitement, the focus will soon shift to earnings, global liquidity conditions, and the interest rate trajectory. "BJP's win in the three state elections is much better than what exit polls suggested and reinforces the consensus expectations of a Modi win in the 2024 national elections with a greater likelihood of 300+ seats for the BJP.
After staging a strong recovery from COVID-induced slowdown in 2021, India's exports are likely to extend the growth story to the New Year also on increased demand in the global markets, boost in domestic manufacturing due to production-linked incentive schemes and implementation of some interim trade pacts. Expectations of positive growth in the country's exports are also backed up by the outlook of the World Trade Organisation (WTO) which predicts a 4.7 per cent expansion in the global merchandise trade volume in 2022. Exporters believe that the outbound shipments would cross $400 billion mark in this fiscal going by the current momentum and may reach $475 billion in 2022-23.
Russia's unprecedented rapprochement with North Korea has raised concerns about the re-emergence of a Russia-China-North Korea alliance which could increase the probability of conflict on the Korean Peninsula, explains Dr Rajaram Panda.
As many as 267 of 453 companies from the BSE500 index are trading above their consensus price targets, according to the data compiled by Bloomberg. Not all companies in the BSE500 index are tracked by analysts.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
'Clearly, there is a wide gap between the stated intentions of China's top leadership to improve relations with India and the PLA's aggressive border management,' says Brigadier Gurmeet Kanwal (retd).
The 'BluFin Business Cycle Indicator', which reflects various macroeconomic trends on a monthly basis, stood at 166.3 points in May, 5.8 per cent higher compared to the same month last year, suggesting that the Indian economy is growing at a faster rate than the previous year.
If Modi wants to leave a real legacy, breaking India's strategic triangulation would be the real gift, notes Shekhar Gupta.
From the Sensex pack, IndusInd Bank, Mahindra & Mahindra, PowerGrid and Bajaj Finserve gained up to 2.01 per cent. On the other hand, bellwether stocks such as ITC, Kotak Mahindra, Tech Mahindra and Reliance were the laggards. ITC shares closed the session with a loss of 3.87 per cent lower and Reliance ended 1.92 per cent lower.
After topping it for two consecutive years, Gujarat slipped three places on the NITI Aayog's Export Preparedness Index (EPI) for 2022, as Tamil Nadu emerged as the most export-ready state, the central think tank said in its report released on Monday. In a continuing trend, coastal states were found to have the most robust export infrastructure, which officials attributed to the integration of maritime trade into the core of their economies. Maharashtra and Karnataka retained their positions -- second and third, respectively; Haryana was ranked first among landlocked states and fifth overall.
Such campaigns would badly affect players in the traditional retail market.
Despite the robust growth in this country, Apple's India share in its overall global sales remained modest -- constituting 1.5 per cent of its overall turnover of $389 billion in FY23.
In an exclusive interview with PTI video, the minister also said an extensive risk-based analysis is done continuously to ensure the production of quality medicines in the country, and the government and regulators are always alert to ensure that no one dies due to spurious medicines.
The inflow of cheap capital has also kept the rupee at a high level, making exports uncompetitive and broadening the current account deficit despite falling oil prices.
Funding challenges are not limited to just one think tank. Several scholars say that access for conducting research and getting foreign funds has become a major hurdle for think tanks, with the government raising many questions regarding such inflows. As a result, many think tanks are keeping a low profile and becoming less prolific.
'.. if you do not want to take the asset allocation call.'' 'This category of funds can offer optimum risk-adjusted returns.'
Due to the huge pile-up of visa applications, the US consular officers in the neighbouring country are now adjudicating Indian visa applications where interview requirements have been waived.
The deficit was $17.6 billion in April 2013.
'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.'
Announcement of macroeconmic data such as industrial production and inflation, the US Federal Reserve's interest rate decision along with trends in global equities would dictate movement in the stock market this week, analysts said. Besides, foreign fund trading activity would also guide the trends in equities. "All eyes are now on the US Fed policy outcome for cues, which is scheduled on June 14. In the following sessions, the European Central Bank (ECB) and Bank of Japan (BoJ) will also announce their policy decisions.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
Events to keep an eye out for...
The two-day nationwide strike called by central trade unions to protest the Centre's alleged anti-worker policies evoked mixed response all over country on Tuesday.
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
According to Nasscom, India must make its R&D significantly more robust to realise the 'Make in India' dream
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
Plugging policy loopholes, the Indian government has spelt out the rules for FDI-funded wholesale or cash-and-carry trading ventures, restricting their merchandise sale to registered retailers and not directly to consumers.
According to CAIT, e-commerce policy should take within its ambit not only foreign players but also domestic ones.
This is a high-stakes strategic conflict between a power which wants to preserve the status quo in its favour and one which wants to usurp that throne. The rest is all theatre, says Harsh V Pant.
Fund managers may end up losing out on crucial information during market hours, leading to information asymmetry vis-a-vis other institutional investors such as alternative investment funds, insurance players, or foreign portfolio investors.
A Priority Foreign Country is a status reserved for those nations that are the most egregious violators of intellectual property rights and have the most negative impact on US competitiveness abroad.
The local currency had gained 7 paise to close at 66.57 in Monday's trade.
"The two sides note that the relationship between Russia and China has progressed to a more advanced interstate cooperation compared to the military-political unions of the Cold War era as it is not bloc or confrontational in nature, nor does it target any third countries," Russia's new agency Tass quoted the document as saying.
Indian Council of Medical Research had also recommended the use of hydroxychloroquine for treating healthcare workers handling suspected or confirmed coronavirus cases and also the asymptomatic household contacts of the lab-confirmed cases.
'This is still a relatively immature defense and high-tech relationship.'
RBI's interest rate decision, macroeconomic data and global trends would dictate terms in the equity market in a holiday-shortened week, analysts said. Besides, the focus will also be on foreign portfolio investors' trading activity, they added. Equity markets will remain closed on Tuesday for 'Mahavir Jayanti' and on Friday on account of 'Good Friday'.
Congress spokesperson Supriya Shrinate also alleged that foreign policy has been reduced to photo-ops and a chest-thumping exercise and is being used to secure contracts for a businessman.
The draft favoured up to 49 per cent foreign equity in inventory model in the case of 100 per cent made in India products sold through Indian management-controlled platforms with resident Indian founders/promoters.
It is mind-boggling to find our prime minister putting exports on the back-burner, says Jayanta Roy.
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