The broader NSE Nifty struggled before ending well above the 10,500-mark.
'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.'
It moved in a range of 63.54 and 63.81 per dollar during the day.
The cost of living crisis is the biggest short-term risk the world is facing, while the failure of climate mitigation and climate adaptation is the largest long-term concern, the World Economic Forum said on Wednesday. Releasing its annual Global Risks report in London ahead of its Davos summit next week, the WEF also said geopolitical rivalries and inward-looking stances will heighten economic constraints and further exacerbate both short- and long-term risks. The Global Risks 2023 report, drawing on views of over 1,200 experts, policy-makers and industry leaders from across the world, also urged countries to work together to avoid 'resource rivalries'.
Forex dealers said besides the dollar's gains against the euro overseas, increased demand from importers for the US currency and a lower opening in the domestic equity market also put pressure on the rupee.
Oil prices jumped nearly $3 a barrel and gold and safe-haven bonds rallied on Friday after the killing of top Iranian commander Qassem Soleimani in an airstrike by the US in Baghdad.
Global financial markets are not yet fully factoring in any escalation in the Israel-Palestine geopolitical conflict, said Christopher Wood, global head of equity strategy at Jefferies in his latest weekly note to investors, GREED & fear. The pertinent point about ongoing events in West Asia from a financial market perspective, according to him, is that, despite much talk about a pending ground invasion of Gaza, no such invasion has yet happened. "This is beginning to make GREED & fear wonder if it is ever going to happen.
Small-cap stocks raked in big gains in fiscal 2021-22 by giving up to 36.64 per cent returns, outshining the bigger benchmark gauge and experts believe that they may continue to outperform in FY23. Markets faced many headwinds in the latter part of the last fiscal with the emergence of geopolitical tension, inflation concerns and FII selling. Analysts said that the first half of the last fiscal was very good, while the market entered into consolidation in the second half, combined with high volatility.
Globally, gold fell by 0.94 per cent to $1,094.20.
'The pitch for India is flat, the ball for India is old, the sun for India is out, and the bowlers are not bowling too well.' 'I think only we can get ourselves out.'
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
'Recent underperformance notwithstanding, equities should constitute a major part of investors' financial portfolio.'
Following the outbreak, Iran has stopped Indian basmati shipments. This has led to exports already falling 18-20 per cent this fiscal year. Iran and the rest of West Asia account for the largest imports of Indian basmati, and comprise more than 30 per cent of the shipments.
Will G20 showcase an India that is inclusive, culturally rich, diverse and tolerant, asks Ramesh Menon.
Illustration: Uttam Ghosh/Rediff.com After a brief respite at the year's start, FPIs have dumped shares worth more than $5.7 billion (Rs 42,596 crore), taking the cumulative net outflows since October to $10.5 billion (Rs 78,466 crore), and adding to the volatility on the bourses. The figure would have been a lot worse had it not been for net purchases to the tune of $5.7 billion in the primary market from October to date.
Forex dealers attributed the fall to increased demand for the dollar.
As United States President Joe Biden prepares for a rare summit with Chinese President Xi Jinping, the ongoing wars in Ukraine and between Israel and Hamas set the stage for high-stakes discussions, CNN reported on Tuesday.
Power, realty, FMCG, consumer durables, metal, infrastructure, PSU and oil and gas and banking stocks emerged front-runners on sustained buying by participants.
Despite partial restoration of salaries, pilots across airlines remain dissatisfied, throwing challenges for managers.
The rupee had retreated from nearly two-week high and ended three paise lower at 60.12 against the Greenback in yesterday's trade.
After selling dollars for the past few months, the Reserve Bank of India (RBI) may take a hands-off approach before its annual account closing by not trying to prop up the rupee as geopolitical tensions show signs of stabilising with global crude oil prices easing from its $140 peak. The central bank was a net buyer of dollars between April and September, and then turned a net seller in the following months, the data released by the RBI showed. The RBI continued to be a net buyer of $36.6 billion in this fiscal year - between April and January. In 2020-21, it purchased $68 billion on a net basis.
Tracking local stocks, rupee on Tuesday regained 19 paise to end at 61.85 against dollar as reports of easing geopolitical tension between Russia and Ukraine helped emerging market currencies script a smart recovery.
Emphasising that everything is created from Sun, Prime Minister Narendra Modi on Tuesday called for 'One Sun, One World, One Grid' to improve the viability of solar power and announced that India's space agency ISRO will soon provide the world a calculator that can measure solar energy potential of any region across the globe. Addressing world leaders at the event 'Accelerating Clean Technology Innovation and Deployment' on the sidelines of the climate summit in Glasgow, Modi said that fossil fuel powered many nations to become wealthy during the industrial revolution, but it made the earth and environment poor.
Global funds have pumped in over Rs 38,000 crore (about $5.5 billion) into domestic equities since February 20, helping the Sensex rebound 2,671 points, or 7.6 per cent, from its 2019 low.
Historically, tensions in West Asian regions have provided support to gold prices.
Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
Equity mutual funds attracted an all-time high net inflow of Rs 28,463 crore in March, on continued interest by retail and HNI investors, who used market correction as a good buying opportunity.
Reliance Industries was the only stock which defied the broader market trend
Silver also reclaimed the Rs 34,000 per kg mark.
Irrespective of the global movement, gold prices in India are nearing the level of Rs 34,000 per 10 grams in the physical markets.
A fracture of interstate relations could be India's biggest risk coming out of the pandemic. This topped a list of critical risks for India over the next two years, according to Geneva-based World Economic Forum's Executive Opinion Survey (EOS), whose results were released on Tuesday. Other top risks include a debt crisis in large economies, widespread youth disillusionment, failure of technology governance and digital inequality.
'Avoid going overweight on gold. But maintain a 10 per cent allocation via sovereign gold bonds,' Bajaj Capital MD Sanjiv Bajaj tells Sarbajeet K Sen.
The Indian Navy, which regards itself as the 'net security provider' in the Indian Ocean Region, has also stepped up to the plate, with a warship stationed at all times off the Gulf of Aden for counter-piracy tasks. 91 Indian warships have been deployed in the region since 2008, patrolling high risk areas where piracy was rampant.
Canada's allegations of India's involvement in the killing of a Sikh separatist in Surrey that sparked a diplomatic row between the two nations are based on both human and signals intelligence and inputs from an ally from Ottawa's Five Eye intelligence network, a media report has said citing the Canadian government sources.
BSE listed firms' value slips below Rs 100 trillion mark.
The broader NSE Nifty rose nearly 124 points to settle just below the psychological 11,000 level.
Foreign Direct Investment flows to India in 2021 were 26 per cent lower, mainly because large M&A deals recorded in 2020 were not repeated, the UN trade body has said.
'The hackers' objectives were centred around smearing India's reputation, causing productivity loss, creating operational damage and seeking financial gains.'
Moody's has forecast that China would be the only G-20 country to post growth this year.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
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