Markets end in red; bluechips struggle to keep pace.
An Indian tennis team sans Sania Mirza completed a dubious hat-trick of defeats in the Fed Cup following a 0-3 loss to Uzbekistan in the Asia/Oceania Group I round-robin match in Perth on Friday. As a result, the Indians will now play Chinese Taipei in the relegation play-off on Saturday. With Friday's defeat, India finished last in the four-team Pool A, having also lost 0-3 in the earlier two matches -- against New Zealand and Indonesia -- as well.
Tiger Woods cruised to a memorable double in record-breaking style on Sunday, winning the Tour Championship by eight shots and inaugural FedExCup honours to claim a $10 million bonus.
Anastasia Pavlyuchenkova overpowered Lucie Safarova 6-2, 6-4 in the second reverse singles to pull Russia level with the Czech Republic at 2-2 in their Fed Cup final on Sunday.
M A Pathan, former chairman of the Indian Oil Corporation, on Friday resigned as chief of the Petroleum Federation of India, citing his pre-occupation with Tatas and other multinational oil firms.
The US Federal Reserve rate cut on Wednesday, the 13th after May 16, 2000 may prove to be a boon to Indian depositary receipts.
'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.'
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.
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.
'If there is any reason to change my holding in Adani group stocks, the Hindenburg report on the group is not the one.'
ICICI Bank was the biggest loser in the Sensex pack, slipping 2.81 per cent, followed by Mahindra & Mahindra, State Bank of India, UltraTech Cement, IndusInd Bank, Kotak Mahindra Bank, Tata Motors, Bajaj Finserv, Axis Bank and Power Grid. Tech Mahindra, Bharti Airtel, Infosys, Asian Paints, Hindustan Unilever, Larsen & Toubro and Titan were the gainers.
India will drive growth in the Asia-Pacific (Apac) region as the growth engine is likely to shift from China to South and Southeast Asia in the coming years, S&P Global Ratings said in a report on Tuesday. The rating agency's report projected China's growth to slow down to 4.6 per cent by 2026 from an estimated 5.4 per cent in 2023. India is likely to clock 7 per cent economic growth from 6.4 per cent estimated for 2023.
Among the Sensex firms, HDFC Bank emerged as the biggest loser, falling 4 per cent. JSW Steel, Reliance Industries, UltraTech Cement, Maruti, Tata Steel, Wipro, Tech Mahindra, Bharti Airtel and Larsen & Toubro were the other major laggards. Power Grid, Asian Paints, Sun Pharma, Axis Bank, NTPC, ITC and Infosys were among the gainers.
The US faces the Czech Republic in the first round from April 26-27.
There is an authenticity and sense of purpose about Dry Day which is appealing, observes Deepa Gahlot.
The challenge for the RBI in 2024 is likely to be less about containing elevated inflation and more about curbing excessive financial market exuberance and a 'problem of plenty', notes Sajjid Chinoy, Chief India Economist JP Morgan.
The broader NSE Nifty dropped by 48.65 points, or 0.45 per cent to 10,808.05 after shuttling between 10,773.55 and 10,833.70.
The Czech Republic defended their Fed Cup title on Sunday as Karolina Pliskova became the home team's hero with a starring performance in their thrilling 3-2 come-from-behind victory over Russia.
Holders Manchester City cruised into the Champions League quarter-finals for the seventh consecutive season with a 3-1 victory over FC Copenhagen.
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
Union Minister Pralhad Joshi confirmed as much on his social media handle on Monday, saying a renowned idol-maker from the 'land of Hanuman' will see his piece of creation find pride of place at the Ram Temple on January 22.
Sara Errani romped to a 6-1, 6-1 win over Alisa Kleybanova in Cagliari to hand Italy an unassailable 3-0 lead over Russia and their third Fed Cup title in five years on Sunday.
Defending champions Russia took an unassailable 3-1 lead over Israel in their Fed Cup world group first-round tie on Sunday after Maria Sharapova and Anna Chakvetadze won their singles rubbers.
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.
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.
Prime Minister Narendra Modi on Friday inaugurated the Rs 17,840 crore Atal Bihari Vajpayee Sewri-Nhava Sheva Atal Setu, the longest bridge as well as the longest sea bridge in the country connecting south Mumbai with Nhava-Sheva in Navi Mumbai.
Williams, who played an exhibition match last December in the United Arab Emirates, where she lost to French Open champion Jelena Ostapenko, said in addition to working on her serve and returns, she needs to manage her time better now that she has her daughter in tow.
Paul Meggyesi, Vice President of Global currency and commodity at JP Morgan, says that the Fed may raise rates one more time in December.
India were relegated to the Fed Cup Asia/Oceania Zone group II after top seeds Australia blanked them 3-0 in their third and final group I match in Bangkok on Friday.
Glenn Maguire, chief economist (Asia Pacific) at Societe Generale, says that the Fed may raise rates once more, before pausing.\n\n
He adds that it is unlikely to see the Fed rate move above 5.5%.\n\n
Glimpses of how dogs are worshipped in two contrasting worlds, Nepal and Japan.
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.
Expect heightened volatility and stress to hit the markets. Caution may be the need of the hour, alerts Akash Prakash.
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 rupee had plunged by 48 paise, logging its biggest fall in more than five weeks, to close at over one-month low of 61.13 against the greenback on Monday following demand for the US currency from importers.
In signs that the country's growth is on track, the economic activity across the country improved in recent months, according to the US Federal Reserve.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
He particularly expressed his disappointment with the US seeking more market for its goods in the developing economies, while putting restrictions on its import of services.
