Fed rate hike 'makes sense,' says US reserve bank president.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
The good news for us is that India's economy - and sentiment about it - is much better than it was a year ago, says Jamal Mecklai.
'Industrial countries are still struggling, with a few exceptions, to grow and the uncertainty about growth in the US as well the world is probably what impelled the Fed to stay on hold.'
Nifty ends above 8,600; Tata Motors, RIL top leaders
A smart rebound in the stock market and sustained capital inflows restricted the rupee loss
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
The rupee had gained 24 paise to close at nearly one-week high of 60.95 against the dollar yesterday following selling of the US currency by exporters and some banks, amid sustained heavy capital inflows.
Many in the US establishment must hope that the crisis would put the brakes on China's growing military might. Well, it ain't gonna happen, says T T Ram Mohan, who was appointed a member of the prime minister's economic advisory council on Wednesday, October 28, 2021.
Capital inflows continued to aid the rupee's rise, although a strong dollar overseas capped the gains.
"I probably wouldn't do much," Buffett said when asked what he would do if he ran the Fed.
Trading sentiment remained distinctly weak due to the cash crunch arising out of the government's move to demonetise Rs 500 and Rs 1,000 notes to flush out black money amid concerns about its impact on small and medium-sized businesses which largely run on cash.
Foreign fund inflows and a higher opening in the domestic equity market supported the domestic unit
A firming trend in domestic stock markets, however, capped the rupee fall to some extent
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
Strong currency and sagging oil prices are spooking policymakers.
Gold prices staged a smart rebound to surpass the psychologically important Rs 28,000 milestone.
Rupee down 13 paise to 66.72 against dollar
The 50-issue NSE Nifty in range-bound movements settled higher by 59.15 points, or 0.58 per cent, at 10,252.10.
Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and near zero rates.
The rupee fell to more than one-month low of 65.75 against the US dollar on Thursday.
Rupee is under pressure against the dollar say currency watchers.
The markets are in bubble territory.
A massive rally in domestic equities along with smooth supply of dollars on the back sustained capital inflows into equities and debt predominantly helped the upmove
Fed keeps rates unchanged, sets up possible December hike
Though the markets have lost ground since the past few sessions, analysts do not seem worried.
In the United States, economic data is likely to take a back seat next week.
Weakness in dollar in the overseas market also boosted the rupee value
The Rupee is seen strengthening against the dollar.
n the broader market, BSE Midcap and Smallcap indices are trading higher by 0.3% each.
Besides foreign flows, corporate earnings and US Federal Reserve chief Janet Yellen's testimony to the nation's legislature are also likely to impact investor sentiment.
The rupee had slumped to its all-time closing low of 68.80 a dollar on August 28, 2013.
Robust foreign capital inflows into upbeat domestic equity markets on the back of better macro fundamentals helped the rupee to gain
In the longest losing streak of 2017, the BSE Sensex has lost 1,270 points, or 3.91 per cent. It fell to a three-month low of 31,154.03 on Wednesday.
Prime Minister Narendra Modi has been ranked as the world's ninth most powerful person by Forbes magazine in a 2015 list which is topped by Russian President Vladimir Putin.
The dollar gained against other currencies overseas.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
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.
The BSE Mid-cap index gained 1.1% while the Small-cap index surged 1.3%, outperforming the benchmark indices
The rupee on Monday slipped by 5 paise to close at 63.57 per dollar on fresh demand for the American currency from banks.
