After a sharp sell-off in the past two months, overseas investors were once again seen turning bullish on Indian equities. FIIs bought shares worth Rs 63.5 billion in the past five sessions, their highest weekly investment tally in many months.
The RBI is still a small player in international gold buying among central banks. But in terms of total gold bought in 2019, it is the sixth largest buyer with 25.2 tonnes purchases in the first 10 months of 2019.
FIIs have offloaded stocks worth Rs 13,110 crore
A good monsoon could rein in food inflation. Largely good corporate results mean better days are ahead. Nifty may reach record levels, points out Devangshu Datta.
Of the three major Budget announcements related to the banking sector, privatisation of PSBs is the most audacious, says Tamal Bandyopadhyay.
Market players say following the tax cuts, the market mood had changed from bearish to positive, which should help sustain the rally.
India has always been a good bet in relative terms during crises/turbulent times in emerging markets (EMs).
However, domestic institutions were aggressive during the period and bought shares worth Rs 44.6 crore (Rs 446 million). The BSE Sensex has lost 1,512 points, or 10.14 per cent, in the same period. On Monday, the stocks fell to a two-month low, led by Tata Steel and other metals producers after commodity prices declined, and on concerns that government measures might not be enough to revive economic growth.
General Naravane's UAE and Saudi Arabia visits communicate India's long awaited arrival in the domain of integrated foreign policy where the diplomatic and the military domains both complement each other much more substantially, observes Lieutenant General Syed Ata Hasnain (retd).
The Indian High Commission made its displeasure known despite the British government earlier reiterating that the three New Delhi laws on agricultural reform were a "domestic matter".
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance. On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.
It is difficult to recall an Indian minister in modern times pushing back at the US publicly, observes Ambassador M K Bhadrakumar.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
The US has been, historically, a sleeping partner in India-China relations. Today, any attempt by the Modi government to make a bilateral move to improve relations with Beijing could upset Biden's apple cart, notes Ambassador M K Bhadrakumar.
A first in 7 years, the combined institutional investor flow stands at Rs 69,000 crore in 2016-17
The rupee resumed higher at 61.57 per dollar against the previous close of 61.59 and dropped immediately to 61.70 on initial dollar demand from banks and importers.
MF investors may not be able to support markets fall if selling intensifies
The 58-page Republican manifesto released by the party after its formal approval said that Indian ancestry had made notable contributions to the US.
Indians at large harbour a notion that their country is cherrypicking out of the American basket of goodies, but the policymakers in Delhi and the political leadership are well aware that it can only be a pipe dream since a military alliance with a superpower is a profound irrevocable commitment, observes Ambassador M K Bhadrakumar.
'China's excessive military aid to Pakistan is the real elephant in the room as far as Sino-Indian relations are concerned. India should be confident enough to accept a degree of closeness between China and Pakistan, since China may wish to use this link for its foray into the Muslim world.' 'But the Chinese must be realistic enough to know that as time passes, the tactic of using Pakistan as a proxy to check India will yield diminishing returns. The US tried it for 60 years but failed, so will China,' says Colonel Anil A Athale (retd).
'In the short term, we may see some disruptions due to Covid, but in the medium-to-long term, we should keep an eye on US inflation and 10-year bond yields.'
Pharma major Sun Pharma remained the worst loser in the Sensex pack for the second day in a row after reports that regulator Sebi may reopen the insider trading case against the company.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
FIIs have a particular bias for the last five trading sessions in the quarter-ending months of March, June, September and December.
The Bharatiya Janata Party might have a majority in the Lok Sabha but sarcasm and public humiliation of rivals may not be the way to assert this. In fact, it is a waste of time
The authoritative Congressional Research Service, which provides data and analysis to the US Congress, finds that India no longer features in the world's three biggest arms importers.
'Openness is a great weapon in the armoury of more open societies. That's why the fight with Pakistan isn't just about India be six times bigger, but equally bitter and insecure Pakistan,' argues Shekhar Gupta.
Leveraging global capital markets to give muscle to an innate competitive advantage in rapid mass transaction systems will lead to India becoming a petri dish for global enterprises and new-age innovation that it yearns to be.
'We've never really been in the situation of having a difficult time with the Chinese and an increasingly difficult time with the Russians along with a relationship with the Americans which is important.'
The rupee resumed higher at 59.69 per dollar as against the last closing level of 59.73 at the Interbank Foreign Exchange market.
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
Why can't we have a sunset clause for the ARCs, which is a global norm? questions Tamal Bandyopadhyay.
Indian markets rose 19 per cent in the first half of this financial year, the best performance by any market during this period, globally.
Domestic markets are also aided by a rally in the global markets with US market surging to record high and a firming trend at other Asian bourses.
Indian equities are no longer cheap vis-a-vis global markets, and only a short distance away from being the most expensive they have ever been.
With Donald Trump the appeal has to be to his business instincts in which his personal interests seem to play a significant role, says former foreign secretary Kanwal Sibal.
India gains at the expense of Russia and Brazil
'Long-term retail investors should not worry about these sharp dips and jumps if they have chosen their stocks wisely.' 'Short-term volatility is a given and a rise and fall of two-three per cent should not worry them.'
Bars FII from issuing offshore derivative instruments on grounds of rules violation.
Mutual funds have invested nearly Rs 94,500 crore in equities thus far in CY17, compared to Rs 32,000 crore in the year ago period, at a time when foreign investors have turned net sellers of India since August.
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