The central bank maintained its bias towards a rate hike.
Fed is still concerned about weak export growth.
The central bank also left the benchmark rates unchanged in the range of 0 to 0.25 per cent. The Federal Open Market Committee which decides on the key rates has retained the same near zero and said economic conditions warrant 'exceptionally low levels' of federal fundsfor a longer period.
India's top singles player Sumit Nagal on Friday returned to the Davis Cup team for the World Group I tie against Sweden but Yuki Bhambri has opted out of the September 14-15 contest,
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
Foreign portfolio investors (FPIs) sold shares worth Rs 20,170 crore ($2.4 billion) recently. This marked the fifth-highest weekly outflow from overseas funds since the beginning of 2008 and the largest since the last week of March 2020. Due to the Covid scare, FPIs had sold shares worth Rs 21,951 crore during that week, causing the market to decline by nearly 20 per cent.
Global fund managers remain bullish on the Japanese stock markets, which is now their most preferred destination in the Asian region. Both Morgan Stanley and Jefferies in their recent reports, have cited their preference for the Land Of The Rising Sun, which is fast becoming the land of the rising equities, too.
The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
The US Federal Reserve rate cut on Wednesday, the 13th after May 16, 2000 may prove to be a boon to Indian depositary receipts.
Fed seen holding rates steady as investor confidence shakes
What is digital house arrest? It is a tactic cybercriminals use to confine victims to their homes and scam them, explains Tamal Bandyopadhyay.
After an extremely stable 2023, the Indian rupee started 2024 on a promising note and has turned out to be the best-performing Asian currency so far in January, appreciating 0.1 per cent despite 2 per cent rise in the dollar index. All other Asian currencies depreciated by around 1.4-4 per cent during the month. The local currency regained its ground against the greenback on the back of foreign portfolio inflows, said market participants.
'India's sizeable forex reserves should help stem a possible fall in our currency.'
Both candidates have shifted from their traditional constituencies - Sadhotra from Marh and Sharma from Akhnoor - after these two segments were reserved for Scheduled Castes.
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
The move, which could come as a surprise to many investors, was a nod to better prospects for economy and labor market
Three major central banks have hit the zero limit, the Fed, the European Central Bank and the Bank of Japan.
Federal Reserve chairman Ben Bernanke touched off the biggest one-day rally in US stocks this month by hinting that the Central Bank is almost done with raising interest rates. The indices had their biggest rise since June 29.
The US Federal Reserve has earned a whopping $14 billion profit on loan programmes made in the last two years, says a media report.
India has not been able to compete with countries such as Bangladesh and Vietnam.
The nomination would put Yellen on course to be the first woman to lead the institution.
The world's largest economy, which is witnessing slow expansion, is also grappling with high unemployment levels. "Reports from the 12 Federal Reserve districts suggest that economic activity continued to expand moderately from November through December," Fed's latest Beige Book said.
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank that gained up to 5.32 per cent.
Crucially, the US central bank softened the blow by making its forward guidance even more dovish.
The surge is a stark turnaround from 2013 when the country's current account gap hit a record high due to outflows on expectations the US Fed would rein in its stimulus programme
Strong currency and sagging oil prices are spooking policymakers.
Equity benchmark Sensex surged past the 57,000-mark by rallying over 1,000 points on Thursday, tracking an overall bullish trend in global equities despite the US Federal Reserve hiking rates. The 30-share BSE index closed 1,047.28 points or 1.84 per cent higher at 57,863.93. Likewise, the NSE Nifty surged 311.70 points or 1.84 per cent to end at 17,287.05.
With US Fed increasing interest rates to 3%, equity money flows into emerging markets like India could be impacted in the medium term.
Domestic macroeconomic data announcements, global trends and trading activity of foreign investors would guide market sentiments this week, analysts said. After a record rally, markets may face volatile trends this week amid elevated valuations and investors would also keep a track of global oil benchmark Brent crude and rupee-dollar movement for further cues. "Potential volatility in the stock market is anticipated this week. Elevated valuations remain a concern, with investors now focusing on monsoon progress and its impact on the rural economy.
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
In a complaint to the Karnataka Chief Electoral Officer, the Congress mentioned about a video uploaded on social media platform 'X' by the official account of Karnataka State Bharatiya Janata Party @bjp4karnataka which is operated by Amit Malviya, the head of IT cell on instructions of J P Nadda, BJP national president, B Y Vijayendra, BJP state president and social media in charge- Karnataka BJP on May 4 at 5.34 pm.
Weaker-than-expected growth in US jobs in recent months had already forced US central bankers to put off a rate hike at their meeting last week
This was the weakest endorsement ever extended to a chairman in the central bank's 96-year history.
The world economy has been run for too long by finance enthusiasts. It is time that finance sceptics began to take over.
A gradual increase works best for the US, as well as global markets, says Nizam Idris managing director, head of strategy (fixed income and currencies), Macquarie Bank.
