The Russian Fed Cup team were hailed by the local media following their semi-final victory in the U.S. at the weekend, while the hosts were criticised for their choice of venue and the treatment of the visiting captain.
Stock markets will be largely driven by global trends and macroeconomic data announcements in a holiday-shortened week which may see volatility amid monthly derivatives expiry, say analysts. Equity markets will remain closed on Monday for Gurunanak Jayanti. Trading activity of foreign investors and the movement of the rupee against the dollar will also be tracked by investors.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
'The response from the government using words like malicious, deliberate, etc is diverting from the real issue.' 'The indicators related to young children such as stunting or child mortality are a reflection of the social development in the country.' 'That's how we have to look at it and not ignore the issue by denying the data.'
The next policy meeting will be in mid-June, when the panel will be joined by Stanley Fischer, the former Bank of Israel governor whose nomination to the Fed's board was confirmed on Wednesday by the US Senate.
Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
Maria Sharapova came to Russia's rescue on her Fed Cup debut to pull the holders level at 1-1 in their world group first-round tie against Israel.
The Fed made clear that the rate hike was a tentative beginning to a "gradual" tightening cycle
Among the Sensex firms, Larsen & Toubro, UltraTech Cement, JSW Steel, Titan, Bajaj Finance, Wipro, Tech Mahindra and Nestle were the major laggards. Maruti, Power Grid, Axis Bank, State Bank of India, NTPC, HDFC Bank, ITC and IndusInd Bank were the gainers.
Jelena Jankovic steered Serbia into their first Fed Cup final when she thrashed Svetlana Kuznetsova 6-1, 6-4 in the second reverse singles on Sunday.
Among the Sensex firms, ITC, NTPC, Axis Bank, Larsen & Toubro, Bajaj Finance, Asian Paints and Tata Steel were the major gainers. Mahindra & Mahindra, Wipro, Maruti, IndusInd Bank, Kotak Mahindra Bank and HDFC Bank were among the laggards.
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.
Roads are being expanded, bridges are being built, hotels are springing up, and the crowds are pouring in. Bringing with them promise of unforeseen economic boom. Ayodhya, it seems, has opened up its heart, Saisuresh Sivaswamy/Rediff.com discovers on his first day in the city.
Karman struggled to contain her unforced errors but prevailed 6-3 6-4 win over Eudice Chong to give India a 1-0 lead in the Asia/Oceania Group I tie.
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
Top gainers in the Sensex pack included Vedanta, Coal India, ICICI Bank, PowerGrid, HCL Tech and Bajaj Finance, rising up to 2.65 per cent.
Tara Iyer and Ankita Bhambri blanked their opponents as India beat Jordan 3-0 in the Fed Cup.
Rupee ends flat against dollar ahead of Fed policy outcome.
'When you are playing team events in these Games, it's a completely different atmosphere.' 'There's pressure, there's excitement, it's a completely different vibe.'
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.
There is anecdotal evidence that the US economy is really, sharply slowing.
A significant number of flights were impacted at the Delhi and Mumbai airports in the last few days due to dense fog and low visibility conditions.
'The darker it is, the more our chances of emerging stronger in the light.'
At the same time, however, officials at the central bank lowered their projections for the long-run target interest rate, evidence of slightly diminished expectations for a nation climbing out of a severe crisis and struggling with demographic headwinds like declining labor force participation.
The markets, at this point, have rallied on the view that the Fed will not budge from the zero-bound as long as inflation remains subdued
Boom, bust or a bit of both: as the jury bides time before ruling on the US 'recession', the economy's vital signs at a perplexing time of high-interest rates, still-punishing inflation, and surprisingly strong economic gains are a study of a growing debate over whether the world's largest economy is barrelling into a new downturn. With the US Federal Reserve's (Fed's) inflation fighters attempting the risky pursuit of 'pillow-soft landings' and its economy sending out mixed signals, if there is indeed a recession, it could spell trouble for domestic equities and corporate earnings growth.
Maria Sharapova has committed herself to playing in Russia's Fed Cup first round tie against Spain in February, the World No 4 said.
He is only the agent that can bring them that change for they are quite aware that he has articulated no vision on how to set Pakistan back on the rails, notes Lieutenant General Gautam Moorthy (retd).
Li Na beat Germany's Kathrin Woerle 7-5, 7-5 to secure China's place in the Fed Cup elite for the first time
A man was arrested in connection with the incident and questioned.
Month-end dollar demand from oil companies mainly affected the rupee value against the US currency, a forex dealer said.
India will be led by newly-crowned world number one Sania Mirza as 11 nations will strive to get promotion to Asia/Oceania Group I when the Fed Cup tennis competition begins in Hyderabad.
Wall Street-correlated stock markets are facing the risk of correction, as Christopher Wood, the global head of equity strategy at Jefferies, conveys to investors in his latest edition of GREED & fear. Rising crude oil prices, which are nearing $100 a barrel (Brent), pose a threat to the global central bank's battle against inflation and have led to a re-evaluation of its exposure to Indian stocks. "The potential for more US Federal Reserve (Fed) rate hikes, combined with the risk that monetary tightening finally bites as regards the economy, remains a risk for Wall Street-correlated world stock markets. "There is also the oil factor. This is why GREED & fear continues to believe the pain trade is down. "Areas in Asia, such as Indian midcaps, which have already done very well, are at obvious risk of some profit-taking," writes Wood.
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.
The US Open champion has made herself available for Fed Cup team for the first time.
'Investors with higher risk appetite and longer horizon (more than one year) can invest in longer-duration funds like corporate bond funds, long-duration funds and gilt funds for maximum gain.'
Roberta Vinci sent Italy into the Fed Cup final for the fifth time in eight years with a 6-2, 6-7, 6-3 victory over CzechRepublic's Lucie Safarova in Palermo on Monday.
Sania Mirza will lead the four-member Indian side in the upcoming Asia/Oceania Group I tie of the Fed Cup tennis tournament.
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.
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