Among the Sensex firms, Asian Paints, Tata Steel, HCL Technologies, Nestle, Maruti, JSW Steel, NTPC and Larsen & Toubro were the major laggards. Sun Pharma, Bajaj Finserv, Reliance Industries, State Bank of India and Bharti Airtel were the gainers.
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.
The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
Global trends, macroeconomic data, and the outcome of the US Fed policy meeting are the major factors that will drive the movement in the domestic equity markets this week, analysts said. "In the upcoming data-centric week, the focus will be on crucial releases, including inflation data from India and the US. "Indian inflation is expected to rise, while US inflation will remain steady.
Fed seen holding rates steady as investor confidence shakes
'India's sizeable forex reserves should help stem a possible fall in our currency.'
Among the Sensex firms, IndusInd Bank, Tata Steel, Tata Motors, Sun Pharma, Infosys, Mahindra & Mahindra, Infosys, NTPC, Bharti Airtel, HCL Technologies and Axis Bank were the biggest gainers. Tech Mahindra and Bajaj Finance were the laggards.
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.
The US Federal Reserve rate cut on Wednesday, the 13th after May 16, 2000 may prove to be a boon to Indian depositary receipts.
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
Three major central banks have hit the zero limit, the Fed, the European Central Bank and the Bank of Japan.
Indian government bonds, particularly those of shorter maturity, strengthened sharply on Monday, as the collapse of the California-based Silicon Valley Bank (SVB) prompted investors to rush to the safety of American debt, leading to a decline in US bond yields.
The move, which could come as a surprise to many investors, was a nod to better prospects for economy and labor market
India has not been able to compete with countries such as Bangladesh and Vietnam.
Modi, on his maiden visit to the UNESCO World Heritage Site, first took the elephant safari in Mihimukh area of the Central Kohora Range of the park followed by the jeep safari inside the same range.
Global financial markets are wrong in hoping that the worst is over in geopolitical crises such as the Iran-Israel conflict and the Russia-Ukraine war, wrote Christopher Wood, global head of equity strategy at Jefferies, in a recent note to investors called 'GREED & fear'. While most investors and the media are focused on United States (US) Federal Reserve policy and the "endless chatter" of Fed governors, Wood believes the news flow in the financial sphere "pales into complete insignificance" compared with the "tectonic shifts" going on in geopolitics.
The US Federal Reserve has earned a whopping $14 billion profit on loan programmes made in the last two years, says a media report.
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 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.
Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment. "With the earnings season behind us, global cues would largely dictate the trend in the coming week," Ajit Mishra, SVP - technical research, Religare Broking Ltd, said.
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.
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
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
While the markets have factored in a number close to 350 for the BJP and almost 400 for the NDA, 50 seats fewer could trigger a market correction
With US Fed increasing interest rates to 3%, equity money flows into emerging markets like India could be impacted in the medium term.
Foreign portfolio investors' (FPIs') net investments in the domestic debt market surged in December, marking a 77-month high, that is, since July 2017. According to market participants, this significant uptick in FPI inflows can be attributed to the post-domestic policy outcome and the US Federal Reserve's dovish stance at the December policy. FPI inflows into debt stood at Rs 18,393 crore in December against Rs 14,106 crore in November, according to data on the National Securities Depository Limited.
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.
Gold is up 0.8 per cent for the week, after hitting a near-two-week high earlier in the week.
In the United States, economic data is likely to take a back seat next week.
