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.
The US Federal Reserve on Wednesday surprised the markets by saying it will continue with its monthly $85-billion bond buying programme and wait for more evidence of growth recovery.
Among the Sensex firms, IndusInd Bank, Power Grid, Tata Motors, Bajaj Finance, NTPC, HDFC Bank, Reliance Industries, Nestle and Kotak Mahindra Bank were the major gainers. Infosys, State Bank of India, Tata Steel, Hindustan Unilever and Titan were the major laggards.
Mumbai City FC lost 2-0 to Iranian Club Nassaji Mazandaran in their first AFC Champions League group stage game at home.
Crucially, the US central bank softened the blow by making its forward guidance even more dovish.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
From the Sensex pack, JSW Steel, Tata Steel, NTPC and UltraTech Cement emerged as major winners, closing the day with a gain of up to 3.33 per cent. On the other hand, Asian Paints, ITC, L&T and SBI were the laggards, ending the session up to 3.95 per cent lower. Of the 30 Sensex stocks, 14 closed the day in green, while on the 50-stock index Nifty 25 scrips ended with gains.
It is operations of a different kind at the international airport here when FedEx's "midnight hub" comes alive, taking advantage of the complete pause in the activities at the airport for four hours every night.
In the offshore non-deliverable forwards, the one-month contract was at 61.56/66, while the three-month contract was at 62.16/26.
Gold, the safest haven amid the ongoing uncertainty, also emerged as one of the most lucrative investment options in financial year 2022-23 with an impressive return of 16.1 per cent in rupee terms, and 2.3 per cent returns in dollars. And, had it not been for the very high inflow of smuggled gold and the huge discount prevailing in the market due to high prices, the returns in gold would have been much higher, analysts said. The precious metal has consistently been delivering positive returns in India since 2016.
The Indian equity market is likely to remain under pressure and rangebound over the next few months. This comes as global central banks, led by the US Federal Reserve look at a possibility of hiking rates aggressively to tame inflation. Back home, the Reserve Bank of India, too, remains data dependent in its endeavour to keep inflation in check and pursue an aggressive monetary policy stance.
Spending at restaurants and bars grew more than 8 per cent compared to the year before.
She pulled out of the Fed Cup semi-finals against the US as she is not fully fit.\n
Netherlands' dream run in the Fed Cup ended agonisingly short of the final when they lost the deciding doubles rubber of a thrilling semi-final against France in Trelaze.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
With US Fed increasing interest rates to 3%, equity money flows into emerging markets like India could be impacted in the medium term.
The US economy could show resilience around the second or third quarter on the housing front, which will increase chances of rate hikes
India ended its campaign at the Fed Cup with a fourth place finish after losing the classification tie 1-2 to Korea as the team badly missed injured Karman Kaur Thandi, who did not play on Saturday, in Astana, Kazakhstan.
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
For the Stalin government to win back the confidence of voters ahead of the Lok Sabha polls, post-flooding restoration works, their speed and efficacy would be closely watched, and not just by the political Opposition, notes N Sathiya Moorthy.
Markets end higher ahead of Fed outcome, China stimulus
Equity benchmark indices Sensex and Nifty stayed on the back foot for the second straight session on Friday as investors offloaded FMCG, IT and teck stocks amid a weak opening in European markets. Selling pressure in index heavyweight Reliance Industries also added to the weak trend in equities. The 30-share BSE Sensex fell 223.01 points or 0.35 per cent to settle at 62,625.63.
This was the weakest endorsement ever extended to a chairman in the central bank's 96-year history.
Former World No 1 Ana Ivanovic has pulled out of Serbia's Fed Cup World Group playoff tie with Slovakia next month over poor form.
US gold futures slid over 1 per cent on Thursday, while silver futures dropped 2 per cent.
For a variety of reasons it would seem that endangering the dollar is in the interest of the Wall Street at this point in time. The Fed has merely obeyed its masters at Wall Street. Good luck to the US dollar!
Benchmark indices Sensex and Nifty ended with gains on Wednesday, extending the previous day rally amid lower level of inflation on domestic front and better-than-expected inflation readings from the US. The 30-share BSE Sensex climbed 144.61 points or 0.23 per cent to settle at 62,677.91. During the day, it jumped 301.81 points or 0.48 per cent to 62,835.11.
The world economy has been run for too long by finance enthusiasts. It is time that finance sceptics began to take over.
Petra Kvitova put defending champions the Czech Republic into the Fed Cup final with a 6-4, 7-6 win over Italy's Francesca Schiavone on Sunday.
rediffGURU Anu Krishna offers advice on how to take control of your life and relationships.
Victories over the Philippines and Chinese Taipei put India in sight of a place in the final in the Asia-Oceania zonal qualifying round.
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