Higher inflation has again become a matter of concern for fast-moving consumer goods (FMCG) companies. After prices of commodities like sugar and wheat moved higher and stabilised at those levels, the crude oil too surged, adding to FMCG firms' worries. Besides, a dry spell in August in the ongoing monsoon season impacted rural demand.
BCCI's North Zone curator Sunil Chauhan overwatered the Feroz Shah Kotla pitch and then, breaching protocol, left the venue before the start of Delhi-Madhya Pradesh Ranji Trophy match on Saturday, his indiscretion leading to a delay of two and half hours.
While members from Assam, Himachal Pradesh, Kerala, Nagaland and Tripura are retiring on April 2, five members from Punjab are retiring on April 9.
The rally in PSBs, analysts feel, was more a knee-jerk reaction to the development, and the actual benefits will start to accrue once the addition takes place in 2024. "The actual benefit for banks from the inclusion in JP Morgan's EM Index will accrue from June 2024 onwards. "Until then, the larger fundamentals of the market will dictate the moves. "Once the initial euphoria subsides, bond markets will look to global cues which may trigger fresh selling," said Siddharth Khemka, head of retail research, Motilal Oswal Financial Services.
