India remains one of the most over-owned market in Asia.
The services sector growth in India rose to a six-month high in January as new business expanded at a faster pace amid buoyant demand from domestic and external clients, a monthly survey said on Monday. The seasonally adjusted HSBC India Services PMI Business Activity Index rose to 61.8 in January, up from 59 in December, pointing to the sharpest rate of expansion in six months.
'We expect market consolidation and recommend buying during market dips.'
The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, inched up to 50.4 in April, from 50.3 in March, signalling only a marginal increase in output across global emerging markets in April.
The current account balance is the single most important indicator to assess an economy's health.
According to global financial services major, despite its recent slowdown, India's economic promise remains substantial, with the growing population and nascent domestic middle class generating a growing market for consumption goods.
According to the global financial services major, FII flows in May were mixed, with investors being more selective.
The government expects the economy to grow by 7-7.75 per cent in the current fiscal.
Sector-wise, pharmaceuticals, transport equipment and textiles will help accelerate overall export growth.
The Hongkong and Shanghai Banking Corporation is looking at investing over $400 million in India with organic growth driving expansion.
Among the Sensex firms, JSW Steel, Tata Steel, Tech Mahindra, Infosys, Wipro, Tata Consultancy Services, Nestle, HCL Technologies, HDFC Bank and Maruti were the major laggards. IndusInd Bank, ITC, Bharti Airtel and State Bank of India were among the winners.
Hong Kong has regained its spot as the world's fourth-largest market following a broad market rout in Indian equities. Currently, the Chinese territory's market capitalisation stands at $4.9 trillion versus India's $4.75 trillion, according to data compiled by Bloomberg. In January, the domestic equity markets' market capitalisation had surpassed that of Hong Kong following a spectacular rally in the small- and midcap stocks.
Rising bilateral trades, growing consumer wealth and high confidence level will push India to the top league of trading nations.
Many of the jobs will now be offshored to lower income countries such as India, China and Poland
The bank is expected to report a pre-tax profit of $21 bn.
The job cuts will affect almost a fifth of the bank's workforce.
According to the report, the demand for materials needed for infrastructure projects like metals, minerals, buildings and transport equipment is expected to increase as the country invests in building its civil infrastructure.
Although growth picked up slightly across the world's main emerging markets on an average, rates of expansion remain subdued
Gaganjeet Bhullar added to his growing reputation with a four-under par 68 that saw him jump from overnight 46th to tied 27th at the midway stage of the US $7 million WGC-HSBC Champions in Dongguan, China, on Friday. The 24-year-old Bhullar is three-under 141 for 36 holes and a good showing over the weekend will boost his ranking further.
N R Narayana Murthy, co-founder of Information Technology giant Infosys, has lamented that economic activities in India were 'stalled' and decisions were not taken by the Manmohan Singh government in time in the Congress-led United Progressive Alliance-era.
The pace of economic growth in emerging markets continued to revive from the stagnation seen earlier in the year.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
During May, the HSBC composite index for India, which maps both manufacturing and services sectors, stood at 52, whereas for China it was 50.9, Brazil (51.2) and Russia (51). An index measure of above 50 indicates expansion.
HSBC's purchasing managers' index was released on Tuesday.
Exports of high-tech products will grow more quickly than exports of other goods over the next 15 years as emerging Asia moves away from being a low-cost production hub for foreign brands and toward developing value-added local products, according to research from HSBC.
India's manufacturing expanded at a faster pace than China
India has pipped China to drive the volume growth of smartphones in the world on the back of falling prices of high-end devices.
The data leak obtained by 'The Australian' newspaper has revealed how the alleged CPC members are employed with some of the world's biggest corporations in the areas of defence, banks and pharmaceutical giants manufacturing coronavirus vaccines.
Within three trading sessions in May, foreign portfolio investors (FPIs) have pumped in Rs 9,461 crore into Indian equities. This follows net inflows worth Rs 7,936 crore in March, and Rs 11,631 crore in April. The trend, analysts said, could continue going ahead as the US Federal Reserve may soon halt its interest rate hike cycle, which will strengthen foreign fund inflows into emerging markets, including India.
The US on Friday issued orders to ban popular Chinese social media apps TikTok and WeChat from Sunday to safeguard national security, weeks after India banned them, saying they were prejudicial to sovereignty, integrity and security of the country.
The pace of activity in China's vast manufacturing sector quickened for the first time in 13 months in November, a survey of private factory managers found, adding to evidence that the economy is reviving after seven quarters of slowing growth.
BWF said that Finland will host the Sudirman Cup Finals in September-October while the season-ending World Tour Finals will be staged in Indonesia.
US crude was down 25 cents at $52.08.
The financial and commodity markets will continue to roil, as China's growth moderates and readjustments are made.
Exports dipped 1.6 per cent to 8.95 trillion yuan.
'China's economy continues to slow and the US Fed may still hike rates before the end of the year.'
Pending final approvals, Huawei would become the first big-name Chinese phone maker to manufacture hardware in India's growing market.
Former India badminton coach Vimal Kumar on Tuesday blamed the withdrawals by Asian nations for the postponement of the Thomas and Uber Cup Final, calling it a "big setback" for the sport.
India's Tokyo Paralympics gold winner Pramod Bhagat was on Thursday named among six shuttlers for the Male Para Badminton Player of the Year by the sport's world body but none of his compatriots featured in the able-bodied awards' categories.
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