The US Federal Reserve's interest rate decision, global market trends and trading activity of foreign investors are the major factors that would dictate terms in the equity markets in a holiday-shortened week ahead, analysts said. Equity markets will remain closed on Tuesday on account of Ganesh Chaturthi. From the global front, interest rate decisions from the Bank of England and Bank of Japan would also influence market trends.
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.
Indian women stormed into the finals of the Fed Cup (Group-II) Asia-Oceania tennis tournament in Hyderabad following another one-sided 2-0 victory over Turkmenistan.
Ankita Raina and Karman Kaur Thandi will have to punch above their weight when the battle to qualify for Fed Cup tennis tournament's World Group II,
Sania Mirza was on Monday named to spearhead the four-strong Indian challenge in next month's Fed Cup, where the country will strive to get back to Group I in the Asia/Oceania zone.
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI's interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts. The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities. "On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8.
Mary Pierce edged Vera Zvonareva 6-4, 3-6, 6-3 to send France into the Fed Cup final against the United States.
'The more educated a young person is, the higher the chances of him or her remaining unemployed.'
Summers dogged by controversies over past views
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.
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.
The US Federal Reserve rate cut on Wednesday, the 13th after May 16, 2000 may prove to be a boon to Indian depositary receipts.
Among the Sensex firms, JSW Steel, Tata Steel, Tech Mahindra, Infosys, Wipro, Tata Consultancy Services, Nestle, HCL Technologies, HDFC Bank and Maruti were the major laggards. IndusInd Bank, ITC, Bharti Airtel and State Bank of India were among the winners.
Judy Murray, mother of World No. 4 Andy, was named as non-playing captain of Britain's Fed Cup women's tennis team on Thursday.
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.
There was no smooth surge in middle class prosperity for foreign businesses to tap into because of the Indian economy was mismanaged, argues Debashis Basu.
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.
Investors' wealth fell by Rs 2.89 lakh crore in two days of market fall, with the BSE Sensex tumbling 796 points on Wednesday, amid weak global market trends ahead of the US Federal Reserve's interest rate decision. Fresh foreign fund outflows and caution ahead of a host of interest rate decisions from global central banks also added to the overall bearish trend. Besides, the US Fed meeting, the BoE (Bank of England) and the BoJ (Bank of Japan) are also scheduled to meet this week.
With the first quarter earnings season coming to an end, the domestic equity markets would be driven by global trends and trading activity of foreign investors this week, analysts said. The movement of global oil benchmark Brent crude and the rupee against the dollar would also drive trends in the market. "Macroeconomic indicators, trends in global stock markets and FII activities will be pivotal in shaping market trends in the coming days," Pravesh Gour, senior technical analyst at Swastika Investmart Ltd, said.
Sumariwalla also said that the AFI is expecting at least 35 track and field athletes to take part in the Paris Olympics.
Markets end in red; bluechips struggle to keep pace.
The US faces the Czech Republic in the first round from April 26-27.
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.
Among the Sensex firms, NTPC, Mahindra & Mahindra, Power Grid, Nestle, Tata Motors, ITC, Bharti Airtel and Kotak Mahindra Bank were the major gainers. In contrast, Larsen & Toubro, Wipro, JSW Steel, UltraTech Cement, and Asian Paints were among the laggards.
Leading the Asian challenge after the first day was Korea's Byeong Hun An, who celebrated his return to the Tournament with a battling two-under 70 to share the ninth place.
Eleven companies have launched their initial public offerings (IPOs) in December 2023, making this month the second-best December for public offerings since 1996. Collectively, they are raising Rs 8,182.7 crore this month. In December 2021, 11 companies raised Rs 9,534 crore. However, excluding December 2021, this month marks the best December for IPOs since 1996.
Uppal said India didn't play to its potential but showed great fightback to clinch the tie.
Analysts remain bullish on the road ahead for the equity markets, but warn against volatility on account of domestic and global cues. The upcoming Lok Sabha elections back home and the interest rate trajectory of the US Federal Reserve, they said, will be the two most important factors that the markets will keep a tab on. That apart, the valuation of the Indian markets, they feel, will also be eyed in context of how global peers are performing.
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.
Among the Sensex firms, Asian Paints, Titan, Larsen & Toubro, JSW Steel, ITC, Hindustan Unilever, Maruti and Reliance Industries were the major gainers. ICICI Bank, NTPC, Infosys, Tech Mahindra, Tata Steel and Bajaj Finance were among the laggards.
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.
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.
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.
Among the Sensex firms, Larsen & Toubro, Axis Bank, Tata Steel, Bajaj Finance, Power Grid, Asian Paints, Mahindra & Mahindra and Bajaj Finserv were the biggest gainers. State Bank of India, Hindustan Unilever, Tata Motors and Titan were the laggards.
Paul Meggyesi, Vice President of Global currency and commodity at JP Morgan, says that the Fed may raise rates one more time in December.
Former world number one Andy Murray is in line to play Grigor Dimitrov in the opening round of the inaugural ATP Cup, with Bulgaria qualifying among the final six teams in the nation-based tournament.
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
Clad in a yellow kurta with a saffron gamcha around his neck, atop an open saffron coloured vehicle, he was greeted by loud chants of "Modi! Modi! Modi Zindabad! 400 Paar Is Baar" all along the roadshow's route.
