'If the third wave of Covid infections is as bad as the second one, the market may get very polarised with a preference for blue-chips with low volatility.'
The Reserve Bank of India (RBI) is precariously balancing two opposing objectives - maintaining easy financial condition in the domestic market, while ensuring external stability - and economists have started taking note. They say India is going through the classic trilemma of the 'Impossible Trinity'. The RBI cannot have an independent monetary policy (setting domestic interest rates) in an environment of an open capital account and flexible exchange rates. What is even more complicated for the central bank now is that financial market stability overlays all the other three objectives.
Kumar joined KPMG in 1995 as a Finance Management Leader and from 2005 until his retirement in September 2013 he led the firm's West Coast Finance Management Consulting practice.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
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The broader consensus was that the Fed would cut the monthly stimulus of $85 billion by $10-15 billion.
The Saudi and Iraq offer to replace Iranian crude supplies comes with a catch: Higher prices for the same quality of crude. The new government will face a tough decision over fuel price hike, says Aveek Sen.
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These are FM radio, uplinking news & current affairs, print media (news & current affairs), commodity exchanges, stock exchanges along with depositories and clearing corporation, power exchanges, petroleum & natural gas refining, insurance, defence production and private security agencies.
Forex dealers said besides strong demand for the American currency from importers, capital outflows mainly weighed on the domestic currency.
The 41- year old is currently the head of macro trading in Goldman's Securities Division.
RustOrange co-founders Samik Sarkar, Shashank Agnihotri and Kuvalaya Singh share their story and learnings.
MCA portal clocks 5 mn views in 8 months; ministry to integrate company records portal with DGFT, I-T dept this year
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.
Nobutaka Kitajima, chief investment officer -- equity, LIC Nomura Mutual Fund, tells Business Standard the reaction to the Fed's statements has been overdone and the current downturn has punished certain stocks much more than their inherent economic worth and business potential.
Sensex, Nifty have lost about 6%, against 0.5-5% decline in other key Asian indices.
The broader NSE Nifty closed below the 10,600 mark by plunging 98.15 points, or 0.84 per cent, to 11,582.35 after shuttling between 11,567.40 and 11,751.80.
Dr Rakesh Mohan, former RBI deputy governor, and Dr Pronab Sen, former chairman of the Indian Statistical Commission discuss the issues facing the Indian rural and manufacturing sectors and what the government must possibly do to improve demand and perk up the Indian economy
Materials and utilities were the worst-performing sectors in March.
Should candidates for particular positions in the government be permitted to agitate for changing the recruitment process itself? The candidates have to meet the requirements of the jobs rather than ask for their own standards to be accepted as the requirement of the jobs. Those who cannot meet those criteria should seek other jobs that match their skills, says T P Sreenivasan.
Since October, FPIs have sold over $26 billion worth of stocks, which is the largest selling ever seen in India, observes Akash Prakash.
'The uneducated think of their rights as a gift. This is deeply troubling.' 'If they were educated they could claim what is rightfully theirs.'
Covid-19, US yields, dollar to weigh on equity flows in the near term.
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
Illustration: Uttam Ghosh/Rediff.com After a brief respite at the year's start, FPIs have dumped shares worth more than $5.7 billion (Rs 42,596 crore), taking the cumulative net outflows since October to $10.5 billion (Rs 78,466 crore), and adding to the volatility on the bourses. The figure would have been a lot worse had it not been for net purchases to the tune of $5.7 billion in the primary market from October to date.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
Since the 1984 national elections, no party has won a clear majority in the lower house of Parliament, a US intelligence report has observed. Vicky Nanjappa reports.
'He is seeking to harness the power of Indian Diasporas to national (support for India in global capitals) and political (enhance the Bharatiya Janata Party's support base) ends.'
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
At close, the Sensex was up seven points at 24,556 and the Nifty gained 11 points to end the session at 7,330.
Market experts attributed the huge sell-off to weakness in Indian currency.
Undeterred by the stock market volatility, uncertainty due to the Ukraine-Russia war and high inflation, equity mutual funds continue to remain attractive choice for investors for the 15th straight month, registering a net inflow of Rs 18,529 crore in May on robust SIP numbers. This was higher than Rs 15,890 crore net inflow in April, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors.
Johnson was to spend a few days in India starting April 26 as part of a planned itinerary, which is expected to include finalising a UK-India Enhanced Trade Partnership.
'Pleasure to meet FM Sergey Lavrov, this time in person. Excellent talks that reflect our Special and Privileged Strategic Partnership. Value our exchanges on the international situation,' Jaishankar tweeted after talks with his Russian counterpart on the sidelines of the SCO meeting.
Macroeconomic data announcement, Omicron situation and global trends will be the major driving factors for the equity market in the first week of the new year 2022, according to analysts. In what turned out to be a historic year, the Indian stock indices went past multiple milestones and the 30-share Sensex made an annual gain of 10,502.49 points or 21.99 per cent in 2021. Religare Broking Vice-President (Research) Ajit Mishra said, "This week marks the beginning of a new month and participants will be closely eyeing some crucial high-frequency data like monthly auto sales, India manufacturing PMI and India services PMI. "Besides, updates on the COVID-19 situation and performance of global markets will also be critical."
Will the next generation possess an even more internationalist outlook, and lose their Indian identities entirely? Will they continue to believe in a larger role for business in society and go beyond the boardroom to truly understand the Indian consumer, ask Geoffrey Jones & Vinay Sridhar of Harvard Business School.
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.
'With more and more young people relocating outside their home states for work, an all-India MLDA of 21 would be a good way to ensure that more Indians can go with the flow,' recommends Kanika Datta.
Ajay Banga is one of the nine members of the Commission on Enhancing National Cyber Security.
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