The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
The hounding of Rhea Chakraborty in the Sushant Singh Rajput case is a drug that is being carefully pumped into India's veins to make it comfortably numb as it is wracked by economic ruin and disease, notes Sumit Bhattacharya.
'The potential headwind is that the Indian economy is likely to see a slowdown in growth rates over the next two years.'
Wankhede is facing the vigilance probe by NCB after an independent witness in the drugs-on-cruise case, in which Aryan Khan is one of the accused, claimed of overhearing a discussion of a Rs 25 crore pay-off, including Rs 8 crore for Sameer Wankhede.
The US Open begins on Monday. With Nadal out, the big battle this time is between Federer, Djokovic and Murray. A Seshan rates the chances of the tennis giants.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
'Rate cut should reiterate RBI's commitment in providing confidence to consumers and small business.'
The markets have been unable to sustain at higher levels as a rise in bond yields globally, especially in the US have dented sentiment. Surging commodity prices, especially crude oil that have now hit $70 a barrel (Brent) coupled with inflation woes and fear of sporadic lockdown across major economic hubs back home as Covid cases rise have chased the bulls away. In the short-term, analysts expect the markets to remain volatile as they react to news flow - both from overseas and developments back home. Investors, they say, need to keep a tab on how the US treasury yields move, which in turn will have a ripple effect on how big money moves across developed (DMs) and emerging markets (EMs), including India.
Experts say companies wanting to launch IPOs will have to scale back their expectations given the fall in valuations.
Equity benchmarks mustered gains for the first time this week on Thursday as investors piled into the recently-battered metal, bank and IT stocks amid expiry of monthly derivative contracts. Snapping its three-session losing streak, the 30-share BSE Sensex rallied 503.27 points or 0.94 per cent to settle at 54,252.53. On similar lines, the broader NSE Nifty gained 144.35 points or 0.90 per cent to end at 16,170.15.
Whether it is Nargis in Mother India or Nirupa Roy in Deewaar, Mama's a scenestealer while Dad is just a shadow. There are films that have explored the Dad's character with tender affection
Domestic equity markets are likely to see volatility in a range-bound trade this week amid geopolitical worries and growing expectations of a sharp hike in interest rates, analysts said. Global trends, inflation data and the last batch of quarterly earnings will drive the markets this week, they said. Besides, the rupee movement, FII investment pattern and Brent crude trends would also be watched by investors.
Finance Minister Nirmala Sitharaman has said the recent interest rate hike by the Reserve Bank was not surprising for her but the timing was, asserting that the rising cost of funds will not impact the government's planned infrastructure investments. For the first time since August 2018, RBI had on May 4 delivered a blunt 40 basis points increase in key repo rate to 4.40 per cent, and also hiked the cash reserve ratio by 50 basis points to 4.5 per cent after an unscheduled meeting of the rate setting panel, citing increased inflation pressures following the Ukraine war and the resultant spike in crude oil prices. Retail inflation printed at 6.9 per cent in March and the April reading is forecast to top 7.7 per cent.
It does feel like we are close to the end of the rupee's rally, says Jamal Mecklai.
A lot of mid and small-caps are in the bubble zone and command high valuation and have corrected sharply.
The AIADMK is convinced that the BJP will remain an electoral burden for a long time to come, beginning the Lok Sabha polls next year, reveals N Sathiya Moorthy.
Strong dollar will impact financial system in India.
An opinion poll conducted by India Today to find out who are India's hated politicians has revealed some interesting results. Recent attacks on Indian political leaders have exposed the growing discontent among the masses, who are fed up of rising prices and corruption.
'Thankfully, most investors in India have now seen through this false narrative and are once again deploying their hard-earned money.
Despite its recent underperformance, gold must be a part of your portfolio.
India's tennis players -- both current and former -- are not just counting financial losses as they cope with the fallout of the coronavirus pandemic. The closure of the Pro Tour means that doubles exponent Purav Raja is set to lose at least $50,000 in this lockdown period, according to his own assessment. Prajnesh Gunneswaran, Jeevan Nedunchezhiyan and Divij Sharan can't exactly tell how much they would lose but considering the fact that they are consistently in contention to be in Grand Slam main draws, the massive financial hit is not difficult to assess.
'Name?' 'Amitabh.' 'Can't be only Amitabh. Amitabh what?' 'Bachchan. Amitabh Bachchan.' Alarm bells. 'Are you related to Dr Bachchan?' 'Yes,' he hesitated, 'he is my father.' 'Then this contract cannot be signed today. He is my old friend. I cannot give you this contract without his permission.' A fascinating excerpt from K A Abbas's Sone Chandi Ke Buth.
She was born in Farrukhabad and went to the US to pursue her master's degree and a Ph.D.
'The marginalised among the Muslim community are facing a particularly tough time.'
The Congress and BJP are apprehensive that AAP might eat into their votes among the Patel community, Kshatriyas, a section of minorities, and Dalits, thus delivering a fatal blow in the closely-contested seats. But the local BJP is elated over the entry of AIMIM as there will be a contender for minority votes apart from the Congress in seats like Bhuj and Mandvi, which have considerable Muslim electorate.
Mohun Bagan bounced back from one goal deficit to register a nail-biting 2-1 win over Air India and set up a semi-final derby against arch-rivals East Bengal in the 30th Federation Cup at the floodlit Vidyasagar Krirangan in Barasat on Tuesday.
'Today's generation can learn from him how not to hurt anyone's sentiments at a time when many stand-up comedians deliberately set out to do so.'
With Greeks' rejection of rescue package from creditors spooking markets, the government on Monday asserted that India is well insulated from the crisis but rupee may be affected due to the outward flight of investment.
Foreign portfolio investors (FPIs) were net buyers to the tune of Rs 16,459 crore in Indian markets in August, with majority of investment coming in the debt segment. In equities, they invested just Rs 2,082.94 crore while debt segment saw inflow of Rs 14,376.2 crore between August 2-31, depositories data showed. The quantum of investment in the debt segment is highest in this calender year so far.
'We are overweight on India, as it is one of the best in emerging markets (EMs)'
India will have to show more willingness to import, and since Biden will not encourage sale of oil and gas to bridge the gap, it means there has to be more meaningful duty reduction in other areas even if Delhi baulks at a Free Trade Agreement so soon after walking out of RCEP.
They went down to top seeds Australia 2-1 in the Fed Cup Asia-Oceania zonal final in Korea.
'Top lines will grow, volume growth will be there, but margins might also be impacted.'
From the pandemic shocks to state polls to global trends, a raft of sentiment drivers are expected to steer the Indian stock market in 2022 after a historic year of massive investor returns and milestones. The Union Budget, which will be closely watched for further reform moves, and quarterly earnings of corporates will be among the developments on investors' radar amid global central banks moving towards tighter interest regime in the wake of inflationary pressures. The year 2021 was rewarding in a big way for equity investors.
Mumbai International Airport Ltd (MIAL), the private airport operator, had earlier announced that all operations at the CSMIA will remain suspended between 2.30 pm and 7 pm as a precautionary measure in view of the cyclone Nisarga.
In a huge relief to animal welfare organisations and volunteers involved in feeding stray dogs, the Supreme Court on Thursday lifted the interim stay on the operation of the Delhi high court order relating to the feeding of stray dogs and also stayed the same.
India should not be left behind. It should join the seven central banks which are studying feasibility and safeguards necessary to eliminate risks, particularly from hacking, advises former foreign secretary Shyam Saran.
HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by Axis Bank, Bharti Airtel, M&M, Reliance Industries, ICICI Bank, IndusInd Bank and Titan.
Top laggards in the Sensex pack included IndusInd Bank, Bajaj Finance, ITC, UltraTech Cement and HDFC Bank, while Sun Pharma, Tech Mahindra, M&M and Asian Paints ended with gains.
Once the shock value and comic potential of a woman selling condoms runs out, Janhit Mein Jaari loses its mojo, observes Deepa Gahlot.
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