Investors would track a host of macroeconomic data announcements scheduled this week, including inflation numbers, and also monitor global market trends, and trading activity of foreign institutional investors, analysts said. The ongoing quarterly earnings announcements and the rupee-dollar trend would also influence the markets.
The last time this happened was in 1996.
Gold prices rallied Rs 910 to hit a fresh all-time high of Rs 83,750 per 10 grams in the national capital on Wednesday due to heavy buying from jewellers and retailers, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had settled at Rs 82,840 per 10 grams in the previous trading session.
The impact of the US Federal Reserve's move to cut the benchmark interest rate will be muted for India as it was mostly priced in, Chief Economic Advisor V Anantha Nageswaran said on Thursday. He said that the Indian stock market is already attracting investor interest and overall the rate cut is positive for emerging markets.
Davis Cup heavyweights Australia and the United States eased through the first qualifying round on Saturday but Britain were knocked out as Japan hit back from 2-1 down to win 3-2, while Denmark staged a dramatic comeback to overcome Serbia.
The BAFTAs were held at London's Royal Festival Hall on February 16.
The feud between Indian Olympic Association (IOA) president PT Usha and revolting Executive Council members took another ugly turn after a dozen of them shot off a letter to senior IOC official Jerome Poivey accusing the legendary athlete of running the organization in an "autocratic" manner.
Trading sentiment in the equity market this week will be guided by global trends, foreign fund movement, macroeconomic data announcements and RBI's interest rate decision, analysts said. The monthly auto sales data announcement would also be tracked by investors this week.
FIFA said on Wednesday it had fired General Secretary Jerome Valcke, once one of the global soccer body's most powerful figures, amid alleged corruption involving World Cup ticket sales.
'If it doesn't, it will continue with measures to infuse liquidity, signalling a new cycle,' predicts Tamal Bandyopadhyay.
The Bombay high court on Friday admitted an appeal filed by former naval officer Emile Jerome, challenging the 10-year sentence awarded to him for the murder of media professional Neeraj Grover. Justice R C Chavan admitted Jerome's appeal and kept his bail hearing after two weeks.
A fortnight after being sentenced to ten years jail term in the murder case of TV executive Neeraj Grover, former navyman Emile Jerome has moved the Bombay high court challenging his conviction and blaming Kannada actress Maria Susairaj for the offence.
Canada advanced to the Copa America semi-finals with a 4-3 victory over Venezuela via the tie-breaker in the quarter-finals in Arlington, Texas, on Friday after the teams were locked 1-1 at the end of extra-time.
Release of key macroeconomic numbers, monthly derivatives expiry, and global cues are likely to drive stock market movement this week, according to analysts. Markets will also be reacting to remarks made by the US Federal Reserve Chair Jerome Powell, they said. "This week, we expect the market to witness a gradual up-move with stock-specific action.
Letexier will be joined at Sunday's final by French assistants Cyril Mugnier and Mehdi Rahmouni, while Szymon Marciniak (Poland) will be fourth official.
Among the 30 Sensex firms, HCL Technologies, NTPC, Bajaj Finserv, Tech Mahindra, JSW Steel, Titan, Mahindra & Mahindra, Tata Steel, Larsen & Toubro and Tata Consultancy Services were the biggest gainers. Kotak Mahindra Bank, IndusInd Bank, Maruti and Hindustan Unilever were among the laggards.
A Mumbai sessions court on Thursday held small-time Kannada actress Maria Susairaj and her boyfriend Emile Jerome Mathew, a Navy lieutenant, guilty in the murder case of television executive Neeraj Grover.
It has been alleged that IOA treasurer Sahdev Yadav and some other officials are continuing in office in violation of the age and tenure cap set by the National Sports Code.
The US Fed rate cut of 50 basis points is unlikely to have any significant impact on foreign inflows into India, Economic Affairs Secretary Ajay Seth said on Thursday. He said the US Federal Reserve has done what it assesses is good for the largest economy in the world, but the RBI will take a decision on interest rate cut keeping the Indian economy in mind. "It is a positive for the global economy, including the Indian economy. "It is a 50 basis points cut from a high level.
New investors should gradually build a 5 to 10 per cent allocation to gold.
IOA treasurer Sahdev Yadav on Tuesday hit back at president P T Usha for claiming that IOA Executive Committee members were not agreeing on a proposal to felicitate Paris Olympics medal-winners
Indian Olympic Association (IOA) President PT Usha on Monday said it is "deeply concerning" that the Executive Committee members failed to honour Olympic medallists and accused the Finance Committee of blocking funds intended to support Indian athletes' preparation for the Paris Games.
Among Sensex shares, Hindustan Unilever, Bharti Airtel, Tech Mahindra, Infosys, Mahindra & Mahindra, ICICI Bank, ITC and Asian Paints were the biggest winners. On the other hand, Kotak Mahindra Bank, Reliance Industries, NTPC, UltraTech Cement and Power Grid were among the laggards.
The destruction of Gaddafi's military capacity is a matter of days or weeks, certainly not months, says France's Ambassador to India Jerome Bonnafont.
Stock markets will be driven by domestic inflation data, ongoing quarterly earnings from corporates and global trends this week, analysts said. News flows around the general election would also be tracked by investors, market experts said.
Observing that there was sufficient circumstantial evidence, the Bombay high court on Monday rejected the bail plea of naval officer Emile Jerome, convicted in the Neeraj Grover murder case. "There is sufficient circumstantial evidence. At the most we can expedite hearing on the appeals filed by the accused against the conviction and the state government's appeal seeking enhancement of sentence," a division bench of Justices V M Kanade and M L Tahalayani observed.
Indian Olympic Association President PT Usha had another heated confrontation with the body's Executive Council on Thursday after a majority of its members reiterated their opposition to Raghuram Iyer's appointment as CEO but the embattled track-and-field great refused to back down and rejected their demand for his removal.
IOA president P T Usha on Sunday slammed the revolting executive council members, saying they 'seem more focused on self-serving power play and monetary gain'
Between the Mumbai crime branch announcing the cracking of the sensational Neeraj Grover murder in May 2008 and the culpable homicide not amounting to murder verdict last week, lies a tale of shoddy case preparation. Toral Varia picks holes in the prosecution's case against Maria Susairaj and Emile Jerome
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively.
Embattled West Indian fast bowler Jerome Taylor, who was recently engaged in a war of words with the West Indies Cricket Board (WICB) over fitness, says he is ready for national duty if his services are required.
The last batch of quarterly earnings, global trends and trading activity of foreign investors will guide the equity market movement in a holiday-shortened week ahead, analysts said. Volatility may continue amid investors' cautious approach in the election season. Markets will remain closed on Monday due to the fifth phase of the Lok Sabha elections in Mumbai.
Images from the athletics action at Stade de France, Saint-Denis, Paris, on Friday.
A third-minute goal from Christian Pulisic set the United States on their way to a 2-0 victory over Bolivia in their Group C opener at the Copa America on Sunday.
Bowlers with 'X-factor' will hold key in T20 World Cup, says Darren Sammy
'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
The Reserve Bank of India's interest rate decision, macroeconomic data and global trends will drive investors' sentiment this week, with markets hoping to continue the positive momentum after ending FY24 on a buoyant note, analysts said. In addition, the trading activity of foreign investors, the rupee-dollar trend and the movement of global oil benchmark Brent crude would also influence trading in equity markets. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in the 2023-24.
The Supreme Court on Wednesday refused to entertain a petition seeking a direction to the Centre to take steps to curb fraudulent religious conversions in the country.
Sarvanan was ranked fifth in the seventh race to go down to second spot with five more races lined up in the Olympic Qualifying Event.
The ongoing second quarter earnings, movement of oil benchmark Brent crude and the uncertainty in the Middle East would dictate terms in the domestic markets this week, analysts said. Furthermore, the activities of Foreign Institutional Investors (FIIs) will also influence trading in the markets. "A slew of earnings reports from heavyweights expected this week will significantly impact market direction.
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