Citigroup is rolling out its wealth management services for India, providing broking and research services for retail investors.
Waves of foreign portfolio investments worth over Rs 51,000 crore splashed into the Indian market in 2021 as overseas investors turned net buyers of domestic securities for the third straight year while excess global liquidity and other factors steered the ebb and flow of their investing ways. With the global financial system still flush with liquidity, emerging market assets, especially equities, might well remain the preferred investment avenue for many more months to come, experts opined. As the equities sizzled during most of 2021, that also saw economy slowly coming back into the recovery path, Foreign Portfolio Investors (FPIs) turned net buyers but their investment is much less compared to net inflows of Rs 1.03 lakh crore in 2020.
Patel, 71, the quintessential backroom strategist for the Congress, died at a Gurugram hospital in the early hours of Wednesday due to multiple organ failure more than a month after he tested positive for COVID-19.
Kishor, whose team I-PAC is working in planning TMC's election campaign, in his latest tweet said that one of the key battles for democracy in the country will be fought in the West Bengal.
'With the June quarter GDP shrinking by nearly a quarter, there is an even greater economic imperative: Reduction of uncertainty,' observes Neelkanth Mishra.
"If they (some leaders) persist (with G-23) that means there is a vested interest for a few of them to work against the Congress party which we don't subscribe to and rather oppose it," the former Union minister said.
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UBS added that its strategists are positively surprised by the scope and tone of the Plenum document.
But cautions about some damage in short term, next three quarters may see high volatility.
The markets will be eyeing the amendments.
The transformation of the Modi-Shah baiting Hardik Patel into saffron poster boy.
'The Chinese have taken to telling their Indian interlocutors to bear in mind the 5:1 disparity in the sizes of the two economies.' 'The message from Beijing, says T N Ninan, is clear: Acknowledge superior Chinese power, and behave accordingly.'
The danger of such hysteria is that it could acquire an uncontrollable momentum and take the two countries towards a precipice from where they may not be able to withdraw.
Patel (71), the top strategist and troubleshooter of the Congress party, died in a Gurugram hospital in the early hours of Wednesday following complications related to COVID-19.
The announcement came late Monday evening - and broke the internet. Elon Musk, the world's richest man, had bought microblogging site Twitter for a neat $44 billion. The little blue bird, which is known to take on many avatars depending on the mood, leanings and interests of who it is chirping for, went into overdrive. While some Twitter users flooded the site with memes and humorous takes on the move, the deal also had a fair share of critics.
Nationalist Congress Party chief Sharad Pawar on Monday met political strategist Prashant Kishor in New Delhi and will host a meeting of leaders from several parties and eminent personalities on Tuesday to discuss the current scenario in the country, his party said and asserted that the Maratha strongman is working to unite the Opposition.
Bharat Karnad said except for nuclear weapons, "Without indigenous production of its own weapons, a great power cannot have security," and said, "The armed services of India is remiss in not promoting and assisting the production of indigenous equipment."
A realistic assessment will tell us that not much has changed between India and Pakistan; the relationship remains as fraught as before with little prospect of reconciliation, notes Ajai Shukla.
The biggest headwind to the consumption story in FY23 is a sharp decline in government subsidies on food, fertiliser and fuel, and overall decline in revenue expenditure net of interest payments. This, analysts say, will adversely impact purchasing power of households at the lower end of the income pyramid, translating into lower spending on consumer goods and services.
Malcolm Wood, Asia Pacific Equity Strategist at Morgan Stanley is not too positive on the financial sector in India.
'He is a key fulcrum point in the pan-Indian creation of an effective Opposition to the BJP.'
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
'They are trying to stoke emotions to build fear.' 'They have done nothing and that is why they are trying to divert attention.'
Beijing should remember the advice of its celebrated military strategist Sun Tzu: 'Fight not unless the position is critical.'
In a bull-case scenario it sees the Sensex at 61,000 levels, while it's bear case scenario pegs the Sensex at 41,000 levels by December 2021.
'For those looking at forward-looking signals for the economy from the stock markets, the relative performance of small and mid-caps may be a better indicator of the future than the index levels of the narrower and more popular indices', says Neelkanth Mishra.
Leading global defence planners and financial managers on Monday said India would continue to be a major arms purchaser, but needed to streamline arms spending and procedures to catch up with new trends.
When global investors look at India, they are interested but they are also a bit nervous
The seat-share progression should worry the BJP. From the previous assembly polls of 2017, through the assembly segments in its favour in the 2019 Lok Sabha polls and now in 2022, the BJP's seat-share has come down from a high 312 to 275 to 255. N Sathiya Moorthy reads the political tea leaves after the UP and Punjab election verdicts.
'Putin is in danger of losing face in his Ukrainian adventure. His bluster is a response to this.'
It will help you cool down on a sunny day.
The banks says that valuations are reasonable.
Even though stocks may remain volatile in the run-up to the polls, as political parties stitch up alliances, the long-term trajectory for the markets remains bullish.
The market's sensitivity to the US Fed's balance sheet changes makes it vulnerable to the possible tapering of the bond buying programme and the resulting stagnation or even shrinkage in the balance sheet.
Experts said concerns over the Union Budget, too, had weighed on the market performance.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
Bulls might be on the rampage on Dalal Street but lofty valuations of the Indian equities present a reason for concern and the markets could perhaps witness up to 10 per cent correction, according to analysts. Benchmark indices have been on a record-breaking rally lately and August witnessed the stock market reaching many new highs. The BSE benchmark soared over 9 per cent last month.
Between now and the general elections (likely in May 2019) there are 12 assembly polls, which analysts say, in a way will also be interpreted as a referendum on the Modi-led government's key reforms
KR Bharat of Advent Advisors views such corrections as good for the market on the long term.
Kishor, who earlier worked with the BJP but turned into its strident critic of late, reacted with indignation, saying he would retire from public life if the allegations were proven true. He also asserted that those levelling the allegation against him should apologise.
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