'I have very little faith in economists who tell me that demonetisation will reduce growth.' 'The greater effect of demonetisation is if it creates changes in the financial services system and gets people to shift from cash.' 'The economy is not a trained monkey that will jump around if you lower rates.'
Axis Bank, HCL Technologies, Maruti Suzuki, NBCC and Union Bank are their top five stock picks.
On Tuesday, Economic Affairs Secretary Arvind Mayaram told reporters that economic growth this financial year would be over five per cent and the numbers in the second quarter would be better than the first quarter which yielded gross domestic product expansion of 4.4 per cent, a four-year low.
Dollar sales by exporters and firm local equities also supported the local currency.
Traders are closely watching the progress of the monsoon.
It is advisable to stick to mid-caps with sustainable financial metrics rather than those offering the promise of faster growth.
ICICI Bank, HDFC Bank, IndusInd Bank down between 0.2%-1.4% each.
The rupee added another 8 paise to end at 61.23 against the dollar, the highest level in more than two weeks, as the US currency traded stable ahead of the outcome of Federal Reserve's meeting today and as domestic shares surged to a record.
At the Interbank Foreign Exchange Market, the rupee resumed lower at 59.72 a dollar from the previous close of 59.67 and declined to a low of 59.88. It bounced back on dollar selling by exporters and some banks, touching a high of 59.30 before settling at 59.35, a rise of 0.54 per cent.
Many giving double-digit returns, with India up less than one per cent; even so, it has done much better than other emerging markets.
Inflation is estimated to be around 8 per cent in FY15 and is likely to decline further towards 6.5 per cent in FY16, Citigroup said.
The dollar index was up by 0.43 per cent against a basket of six major currencies as euro dropped against the dollar, after quarterly economic reports from France and Germany missed expectations, said analysts.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'The good news is that money continues to flow into India-focussed offshore funds.'
Rise in crude oil price and rally in global equities aided the sentiment
After turning net buyers for the fifth straight month till June, foreign portfolio investors (FPIs) withdrew a net of Rs 11,743 crore ($1.7 billion) in July. This was their highest outflow since October 2018.
Broader markets underperformed indices with BSE Midcap down 0.43% while the Smallcap index fell 0.07%.
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
It won't be an easy ride for the markets, reckon experts, considering the multiple state elections in 2018 and general elections next year.
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
Markets ended higher, amid firm global cues, and are on track for third straight day of gains.
A strengthening dollar overseas also kept the rupee under pressure amid demand from importers. Goldman Sachs followed JP Morgan, HSBC and Nomura in cutting India's economic growth forecast and also said it expects the rupee to touch 72 against the dollar in the next six months.
The bigger worry is that the miss for FY19 is likely to be significant even after assuming macro factors such as crude oil prices, rupee, input costs, and interest rates, do not worsen from the current levels, reports Vishal Chhabria.
India VIX has been mirroring the CBOE Volatility Index.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
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Fag-end dollar selling by exporters helped the rupee to recover lost ground and settle at the day's high of 60.77, a gain of 11 paise. The rupee earlier touched an intra-day low of 61.21 on July 8.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
ICICI Bank extended yesterday gains, rising 10% in two trading sessions
The loss of income has severely dented the loan repayment ability of small borrowers
A'Market valuation is another concern.'
'India is trading at steep valuations and there have been a number of IPOs, especially in the insurance sector, that have had an impact on secondary market liquidity.'
The rupee on Thursday appreciated 20 paise to end at 62.37, its highest in two weeks, on positive trends in local equities and fresh dollar selling by exporters.
Metals bucked the trend and shone across the board.
The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
Investors will keenly watch US Fed meet starting Tuesday
Banks and exporters preferred to reduce their dollar position in view of its weakness.
Benchmark share indices ended flat amid lack of investor participation even as gains in IT majors ahead of their second quarter earnings helped capped downside.
Microsoft saw its shares fall 2.6% on Monday.
Nifty saw the biggest weekly gain since the first week of September and comfortably maintained its crucial 8250 levels in today's session
A partial United States government shutdown over President Donald Trump's demand for $5.7 billion to build a wall along the US-Mexico border entered its 23rd day on Sunday making it the longest shuttering of federal agencies in the country's history, with no end in sight. The closure, which began on December 22, broke a decades-old record by a 1995-1996 shutdown under former US President Bill Clinton that lasted 21 days.
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