SBI Chairperson Arundhati Bhattacharya said any rate cut by the bank would depend on a lot many factors.
Auto majors, including Maruti Suzuki India, Hyundai and Tata Motors, on Sunday reported high double-digit growth in their domestic passenger vehicle sales in July riding on stabilisation of macro-economic factors and better consumer sentiments. Similarly, Honda, Nissan, MG Motor and Skoda also reported healthy growth in their sales last month leveraging on improved market mood amid prevailing lower coronavirus infection rate, despite supply constraints of semi-conductors. The country's largest carmaker Maruti Suzuki India's (MSI) domestic sales increased by 39 per cent to 1,41,238 units last month as against 1,01,307 units in July 2020, the company said in a statement.
Investors will keenly watch out for the Futures & Options expiry for July on Thursday
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Weak consumer sentiment across urban and rural markets due to slow farm inflows, subdued agri-commodity prices, rising cost of ownership as a result of regulatory changes including safety, emissions, vehicle registration, along with a rise in interest cost/EMI, have impacted demand.
In a statement the Sabha says that paddy cultivation has been severly affected and that the PM had not announced any hike in the Minimum Support Price for the growers, as sought by them. The Sabha also calls for the reccomendations of the MS Swaminathan Foundation on calculating MSP be implemented.
Liquidity issues post the crisis at DHFL, progress of monsoon, rupee trajectory at the domestic level and oil prices are some factors that will keep markets choppy, analysts say.
Prices of food articles continued to rise over the previous week. Bajra and urad prices rose by two per cent each, and condiments and spices, arhar, and fruit and vegetables became more expensive by one per cent.
Inflation is likely to peak at 8.7 per cent by end-March and the Reserve Bank is likely to begin tightening its monetary policy from its January policy review itself, a report by Bank of America Merrill Lynch (BofAML) has said.
The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
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Monetary policy easing, coupled with the relaxation of lending rules and greater election-driven fiscal spending in the first quarter of 2019, will provide some support to growth during the first half of 2019-20 fiscal
ICICI Bank and SBI were among the top Sensex gainers along with FMCG majors ITC and HUL.
Slowing inflation prompted the RBI to cut the policy repurchase rate last month by 25 basis points to 6.50 percent, the lowest since 2011.
As the second wave of the Covid-19 pandemic abates, India's automakers are hopeful of a quick recovery in sales volumes, led by better rural sentiment, low interest rates, improved availability of finance and a gradual uptick in business and economic activity. In fact, companies have started to ramp up production already, encouraged by high order books and the growing preference for private transport in both rural and urban areas as a means to avoid infections. In early April, the industry had been bullish as the sales trend for March showed that the effects of the Covid-19 pandemic had been left behind. The total vehicle sales had grown by 77 per cent, albeit on a lower base, and for the past few months, sales had consistently touched 300,000 units per month.
El Nino, which refers to warmer-than-average sea surface temperatures in the central and eastern tropical Pacific Ocean, will likely to keep CPI inflation up at 8-10 per cent in the second half of 2014 and will pose a 50-70 basis point risk to this fiscal's growth expectation, the report by financial services major Bank of America Merrill Lynch said.
In a recent report, BofA-ML suggests investors to track these six event risks in July apart from the Greek drama
With the Budget Session starting on stormy note due to disruptions by Opposition on the issue of price rise and rail fare hike, the Parliamentary Affairs Minister said the government was ready to discuss all issues including price rise but under appropriate rules.
Since its peak, the S&P BSE Sensex has dropped nearly 3,000 points.
Industrialists affirm their belief that the adverse effects of demonetisation and the goods and services tax are finally over.
'I hope the trend is sustainable and that economic activity accelerates going forward.'
Pressure has been mounting on the Reserve Bank of India to cut interest rates in the wake of declining retail inflation and the need to fuel growth momentum. However, the RBI will have to do a tightrope walk as globally interest rates are inching upwards.
The July-September quarter GDP numbers are due on November 30.
Declining interest rates, a near-normal monsoon leading to higher rural incomes and pay hikes for central government employees are key triggers, says Dev Chatterjee.
Inflation in 'fuel and power' basket rose sharply to 11.22 per cent in May from 7.85 per cent in April as prices of domestic fuel increased in line with rising global crude oil rates.
'Both IIP and CPI inflation numbers are showing a huge disconnect from the leading indicators.'
India's first quarter GDP growth print was 7.9 per cent y-o-y, primarily led by urban consumption demand
Consumer prices were forecast to have risen 10.00 per cent annually last month, barely changed from the 10.09 per cent clocked in October.
RBI Governor Raghuram Rajan on Tuesday kept the repo rate unchanged 6.50 per cent.
Here are 10 global and domestic factors.
The monetary authority said it was worried on three fronts with regard to inflation as well as the economy.
Irked by angry reactions to his Facebook post on 'World UFO Day' on Wednesday, Finance Minister Arun Jaitley withdrew the message within hours.
Excise duty hike for cigarettes could be lower.
This is the highest closing for both the indices since May 15.
Government's food subsidy bill tends to rise in tandem with the MSP increase.
Amul, Gowardhan raise prices by Rs 2 a litre; others might wait for some time.
In August 2013, import duties on gold, silver and platinum were hiked to 10 per cent in order to curb the surging imports and also to check CAD.
The sentiment around Indian equities remains positive and unchanged.
The overall AQI deteriorated further and touched the 268 mark, which falls in the poor category.
