Equity benchmark indices Sensex and Nifty declined for the second straight session on Friday following selling in banking, financial and select IT shares amid a weak trend in global markets. The 30-share BSE Sensex dropped by 125.65 points or 0.19 per cent to close at 66,282.74 as 16 of its constituents fell and 14 advanced. The index opened lower and fell further by around 513 points to the day's low of 65,895.41 in morning deals.
The last time Martina Hingis appeared in the Fed Cup for Switzerland she was a 17-year-old four-times Grand Slam champion with the world at her feet.
Elevated food price-led inflation could become a sore point for markets, which they seem to be ignoring at current levels, observe analysts. Retail inflation in India - as measured by the Consumer Price Index (CPI) - came in at a three-month high of 6.52 per cent in January 2023, compared with 5.72 per cent in December and 5.88 per cent in November 2022. The inflation print for February, according to Madan Sabnavis, chief economist at Bank of Baroda, will be critical for the Reserve Bank of India's monetary policy committee.
It is surprising that central bankers around the world have cautioned the US Federal Reserve against raising rates.
ICICI Bank, Axis Bank, Infosys, M&M, Tech Mahindra, Tata Steel, SBI and Maruti were also among the gainers. On the other hand, IndusInd, TCS, Titan and Asian Paints declined.
Foreign banks and private credit funds are queuing up to fund acquisitions by Indian companies who are buying out their local rivals. The Adani Group, Torrent Group, and the Hindujas have approached several foreign banks and private equity (PE) firms to fund their acquisitions. Global investors have about $2 trillion of funds to invest, and about $100 to $150 billion is set aside for India, according to an estimate by JP Morgan.
'If there is any reason to change my holding in Adani group stocks, the Hindenburg report on the group is not the one.'
Benchmark stock indices Sensex and Nifty fell for the third day running on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments amid strengthening US bond yields which are nearing 5 per cent for the first time since 2007. The 30-share BSE Sensex fell 231.62 points or 0.35 per cent to settle at 65,397.62.
Kveta Peschke and Lucie Hradecka beat Maria Kirilenko and Elena Vesnina 6-4, 6-2 in the decisive doubles to give the Czech Republic a 3-2 win over Russia in the Fed Cup final on Sunday, clinching the country's first title as an independent nation.
Global trends, trading activity of foreign investors and movement of oil benchmark Brent crude would dictate terms in the domestic markets this week, analysts said. Equity markets, which fell nearly 3 per cent last week, may face volatile trends amid the monthly derivatives expiry on Thursday. "This week marks the September month Futures and Options (F&O) expiry, which is expected to bring about volatility in the market," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
'The risk is in not being invested and missing out on an upmove.'
First-time MLA Bhajan Lal Sharma was sworn in as the chief minister of Rajasthan at a ceremony attended by Prime Minister Narendra Modi and the Bharatiya Janata Party's top leadership on Friday, 12 days after the party ousted the Congress in the assembly polls.
Hot favourites Russia will take on an under-strength France in the Fed Cup final after both nations completed 5-0 wins in the semis.
Online travel portals are flooded with flight and train bookings, hotels teeming with requests for accommodation, and spiritual merchandise on e-commerce platforms is selling like hotcakes. As the consecration ceremony of Ram Mandir in Ayodhya on January 22 draws near, Indians across the country are putting their travelling boots on as the temple frenzy catches on. India's largest travel technology (traveltech) platform MakeMyTrip (MMT) has witnessed a substantial four-fold increase in bookings for Ayodhya compared to the previous year.
The ongoing second quarter earnings, movement of oil benchmark Brent crude and the uncertainty in the Middle East would dictate terms in the domestic markets this week, analysts said. Furthermore, the activities of Foreign Institutional Investors (FIIs) will also influence trading in the markets. "A slew of earnings reports from heavyweights expected this week will significantly impact market direction.
Fed is expected to deliver a more market-neutral statement
'From data on enquiries, we can build what we call a data lake or a data warehouse where data is classified into various cohorts and then we use AI and ML tools to predict demand down the line.'
The AAP will contest all the 90 assembly seats in Haryana on its own, but the Lok Sabha polls will be fought as part of the INDIA bloc, Kejriwal said.
As the world celebrated International Day of Persons with Disabilities (PwD) on December 3, corporate India has kept up with efforts to make workplaces more inclusive and accessible. Organisations across sectors are taking initiatives such as equipping offices with practical work tools like Braille-friendly and voice-enabled lifts and screen readers. While inclusion has gained pace, only 11.3 per cent (or 3.4 million out of 30 million) Indians with disabilities have jobs.
India retained their place in the Asia/Oceania Group I in the Fed Cup after beating Chinese Taipei 2-0 in the relegation Play-off in New Delhi on Saturday.
Tata Steel, Tech Mahindra, NTPC, JSW Steel, Power Grid, UltraTech Cement, HCL Technologies and HDFC Bank were among the major gainers. Bharti Airtel, Hindustan Unilever, Axis Bank, Reliance Industries, Kotak Mahindra Bank, ICICI Bank and IndusInd Bank were among the laggards.
The majority in the markets believe that a September lift-off is likely.
India beat Japan 4-0 to win women's Asian Champions Trophy hockey title
'India is an equity market with a breadth and depth of companies to invest in.'
Many are reportedly too weak to stand or talk. The detainees include Sikhs, Gujaratis and Bengalis, and from Punjab in Pakistan.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
Francesca Schiavone repeated her French Open final triumph over Samantha Stosur on Sunday as Fed Cup holders Italy completed a 4-1 victory over Australia in their World Group last eight tie.
Even if the central bank doesn't pull the trigger later, it is still expected to by the end of the year.
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.
The Reserve Bank of India has already reduced the policy rate by a total of 75 basis points, or 0.75 per cent, since January.
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
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
Maria Sharapova has pulled out of Russia's Fed Cup semi-final against Germany in Sochi this weekend with a leg injury, the Russian Tennis Federation said on Tuesday.
The risk of a collision between the Federal Reserve and the markets grew on Friday after Fed governor Randall Kroszner made it clear that the US central bank was not planning to cut interest rates at its next policy meeting, but was largely ignored by investors.
RBI will not follow US Federal Reserve's cue of cutting rates, as Indian conditions differ greatly from US.
Bajaj Finance was the biggest gainer in the Sensex pack, rising 2.70 per cent, followed by Power Grid, IndusInd Bank, NTPC, Bharti Airtel, ITC, Bajaj Finserv, Infosys, Nestle, Tata Steel, Tata Consultancy Services, Titan and Axis Bank. Reliance Industries, Mahindra & Mahindra, Maruti and State Bank of India were among the laggards.
India on Wednesday announced a four-member team with Sania Mirza as the spearhead for the Fed Cup Asia/Oceania Group I & II matches scheduled in Bangkok from January 28-February 3.
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