"I probably wouldn't do much," Buffett said when asked what he would do if he ran the Fed.
A smart rebound in the stock market and sustained capital inflows restricted the rupee loss
A firming trend in domestic stock markets, however, capped the rupee fall to some extent
Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
Rupee down 13 paise to 66.72 against dollar
The rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
Covering-up of short positions ahead of Thursday's expiry of August series in the derivatives segment gave equities a slight push
Broader markets are outperforming the benchmark indices- BSE Midcap and Smallcap indices are up 0.8%-1%.
Sectorally, BSE metal, basic materials, energy, realty, power, oil and gas, finance, FMCG, bankex and telecom indices fell up to 1.71 per cent.
As Indians scrambled to exchange the banned notes for new currency, Paytm, Sharma's digital payments startup, went on a promotional spree, inviting Indians to start using Paytm's digital wallet to pay for everyday goods and services.
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
The 30-share S&P BSE Sensex ended up 130 points at 25,400 and the Nifty50 rose 46 points to close at 7,759.
Fed rate hike 'makes sense,' says US reserve bank president.
Sharp swings likely in equity, forex and bond markets.
The rupee bounced back by 26 paise to end at 59.93 against the American currency on Friday as exporters and some banks sold dollars.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
Foreign funds sold Indian shares worth 446.9 million rupees ($7.4 million) on Wednesday, provisional exchange data showed, marking the third consecutive session of outflows.
Spot gold fell as far as $1,142.10 an ounce on Thursday, its lowest since November 2014.
Hawkish guidance by the US Fed raises concerns it could tie the hands of RBI from trimming rates.
Experts advise investors to buy at lower levels in the next few months and sell at the higher end of their range in the second half, reports Rajesh Bhayani.
The dollar gained against other currencies overseas.
Market sentiment suffered a jolt after other Asian markets closed with widespread losses and European markets dropped in early trade
Total holdings of the top eight gold ETFs have risen by 3.8 million ounces so far this year
A stronger dollar makes oil more expensive because it raises the cost for imports for most of the world's countries
'Das is friendly, but he finally does what he does. The quality of engagement is very good.'
This was the near-unanimous replies of 10 market participants.
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
'It will be best for investors to have a systematic investment plan in mid-cap and small-cap funds with a three-/five-year horizon.'
The rupee plunged 90 paise to close at an all-time low of 80.86 (provisional) against the US dollar on Thursday after the US Federal Reserve's interest rate hike and its hawkish stance weighed on investor sentiments. Forex traders said the US Fed's rate hike and escalation of geopolitical risk in Ukraine sapped risk appetite. Moreover, the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off mood and firm crude oil prices weighed on the rupee.
President Donald Trump has tapped Jerome "Jay" Powell to lead the US central bank, bypassing Janet Yellen for a second term despite praising her excellent management of the world's largest economy over the past four years.
India is better prepared to deal with any further US Fed tapering, but the country needs to remain vigilant to face eventualities, Reserve Bank Governor Raghuram Rajan said.
Tata Motors was the top gainer on better-than-expected June quarter revenues
Reserve Bank of India Governor Raghuram Rajan took charge of India's central bank when the rupee seemed to be in a tailspin while the country was facing runaway inflation.
After a spirited eight-hour debate in which 60 members participated, the Lok Sabha passed the Constitution (128th Amendment) Bill, with 454 members voting in favour and two against it.
Silver followed suit and traded higher by Rs 200 at Rs 34,200/kg.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
As markets complete the first half of the calendar year 2022 (CY22) with a fall of around 9 per cent, the interest-rate hike trajectory by global central banks, paired with the conundrum of inflation and growth, will move the needle for the market, observe experts. Here's a quick rundown on what they'll react to over the next six months.
The Z+ security cover of Central Reserve Police Force (CRPF) personnel has been extended to Khan and Raj Bhavan, his office said in a post on 'X'.
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