The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, remained only just above the neutral threshold of 50.0 in September, signalling muted output growth in emerging markets.
Here are 15 companies that research houses believe could see significant impact due to the Budget proposals.
Reliance Petroleum Ltd, a unit of Reliance Industries that plans to sell 1.8 billion shares in an initial public offering to raise up to $1.3 billion
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
Similarly, 51 per cent of 105 market participants polled by RBS said they do not expect a CRR cut in the quarterly policy announcement next Tuesday.
Distribution yields could rise, but risk of Covid, higher interest rates remain.
RBI interest rate decision, macroeconomic data and global trends would guide markets' movement this week, analysts said. Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities. HSBC PMI (Purchasing Managers' Index) for the services sector is scheduled to be announced on Monday.
As many as 40 staffers, in the key equities and investment banking division in India, could be asked to go as part of the London-headquartered lender's global layoffs, said people aware of the development. HSBC India declined to comment.
Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues. "Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy.
Mutual funds (MFs) have lined up information technology (IT) funds, indicating that technology stocks are back on fund managers' radar after a hiatus. Over the past 18 months, stock prices for companies in the software space have either corrected or remained subdued. Fund houses have launched five IT-based sectoral funds in the past three months, with three of them taking the passive route.
Life Insurance Corporation of India (LIC) February 8 for the first time ever crossed the Rs 7 trillion market capitalisation, as the stock price of state-owned insurer hit a new high of Rs 1,144,45, on rallying 10 per cent on the BSE. The board of directors of the Corporation are scheduled to meet today i.e. February 8, 2024, to consider a proposal for declaration of interim dividend for the financial year 2023-24 (FY24). The board will also consider and approve the unaudited financial results for the quarter and nine-month period ended on December 31, 2023.
When it comes to electric cars, the electric dream is turning out to be a six-letter word starting with f, ending with y, and having antas in between, notes Suveen Sinha.
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.
'We expect market consolidation and recommend buying during market dips.'
Ola Electric share price strategy: The meteoric rise of Ola Electric share price has left analysts and investors bewildered. Yet, they suggest investors hold on to the stock as it remains a pure "momentum" play. Since its listing on August 9, the stock has surged 92 per cent (till August 19) over its issue price of Rs 76, taking its market capitalisation to a little over Rs 63,000 crore.
The new offer is part of its strategy to turn India to an exclusively 4G market.
The financial and commodity markets will continue to roil, as China's growth moderates and readjustments are made.
Investors have been hoping for a cyclical recovery.
India remains one of the most over-owned market in Asia.
Rural inflation running higher than urban: HSBC
According to the global financial services major, FII flows in May were mixed, with investors being more selective.
As the reform process is expected to gain further momentum, the Indian rupee will continue to outperform its Asian peers, which are likely to weaken further against the US dollar in 2015, says an HSBC report.
HSBC on Monday lowered India's GDP forecast for the current financial year to 4 per cent from 5.5 per cent earlier saying economic uncertainty is likely to weigh on the growth forecast in the coming months.
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The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, sank to 50.6 in June from 51.3 in May, signalling the weakest increase in output since May, 2009.
In the latter half of the year, there would be some economic recovery and return to normal business conditions.
From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.
India attracted $1.4 billion FIIs in November, says a report by HSBC.
According to the global financial services major, since the last RBI policy meet, data suggest accelerating growth and surprisingly mild inflation, both at the core and headline level.
Slowing economy, election-related uncertainty and tighter monetary conditions pose risks for Indian markets and the BSE index, Sensex, is likely to hover around 20,250 by the end of this year.
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 Reserve Bank of India is likely to cut policy rates by 0.25 per cent and keep the cash reserve ratio unchanged at its policy review next week, on the back of slower-than-expected growth and more encouraging inflation readings, says a report by HSBC.
'We suggest an equity strategy of 5% to 10% exposure to cash, 5% to Gold ETF, close to 50% to Sensex/Nifty/large mid-cap stocks.'
India's first quarter GDP growth print was 7.9 per cent y-o-y, primarily led by urban consumption demand
Consumption of gold is the highest among middle-income households - those with annual income between Rs 2 lakh and Rs 10 lakh - who account for an average of 56 per cent of gold sales over the last five years, according to a nationwide survey conducted by India Gold Policy Centre (IGPC) at the Indian Institute of Management, Ahmedabad (IIM-A). "Per capita consumption is highest among the rich, but total volume still rests with the middle-income group. "With increasing income, there is an increasing propensity to consume gold, although the share of gold in the portfolio does not increase with the same proportion of income," the survey report says.
The Asian Development Bank too had projected Indian's economic growth for current fiscal at 7.4 per cent.
Wiping off nearly Rs 4 lakh crore of investors' wealth during the day, benchmark Sensex crashed on Friday.
Prices of perishable items could spike in the near term.
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Improved investor sentiment is expected to drive the economy forward in the coming quarters.
Terming the RBI action on Wednesday as a "pleasant surprise", analysts today cautioned that possibility of a rate hike in the future cannot be ruled out. Urijit Patel committee's report on monetary policy would clear the air on RBI's future stand, they added.
Bharti may look at gaining market share pre-merger and benefit from a lower capex intensity
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