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Arvind SmartSpaces shares jump up to 10% after new Ahmedabad residential project
Arvind SmartSpaces' chairman and non-executive director Kulin Lalbhai told CNBC-TV18 last month that the firm is targeting a cumulative growth rate of 30% over a four-to-five-year period in the long term.
Wall Street week ahead: Spotlight on Federal Reserve rate decision, retail sales, Middle East, G7 summit
Market participants will be looking for signals on how the new Fed chief Kevin Warsh intends to tackle lingering inflation concerns while balancing economic growth
Firmer dollar, rate hikes, ETF outflows may weigh on gold prices: Analyst
A firmer dollar, rate hikes by central banks, ETF outflows, and elevated yields are likely to keep the yellow metal under pressure. China's demand is not too strong either
INR stays pressured amid elevated oil prices and firm dollar overseas
The Indian rupee is staying largely unchanged in opening trades on Tuesday amid elevated oil prices and relatively firm dollar overseas. INR opened at Rs 95.47 per dollar and hit a low of 95.62 so far during the day. Yesterday, rupee lost further momentum and settled the day lower by around 40 paise at Rs 95.61 per dollar. Dollar index spiked above 100 for the first time in two months following a strong jobs data on Friday, driving sooner than expected rate hike by Fed but has edged marginally below the level today. Meanwhile, Indian shares fell sharply on Monday, mirroring weak cues from global markets as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year. The BSE Sensex and NSE Nifty 50 settled lower amid weak global cues, escalating tensions in West Asia, and rising crude oil prices. The Sensex dropped 719.08 points (0.97%) to settle at 73,524.26, while the Nifty fell 243.70 points (1.04%) to end the day at .
INR dragged lower by negative cues from equities, surging oil and firm dollar overseas
The Indian rupee lost further momentum during the course of the day and is seen settling the day lower by around 40 paise at Rs 95.57 per dollar. Elevated crude oil prices and firm dollar index around 100 mark are seen pressurizing rupee. Dollar index spiked above 100 for the first time in two months following a strong jobs data on Friday, driving sooner than expected rate hike by Fed but has edged marginally below the level today. Meanwhile, Indian shares fell sharply on Monday, mirroring weak cues from global markets as Middle East worries persisted and robust U.S. jobs data led traders to ramp up bets on a Federal Reserve rate hike this year. The BSE Sensex and NSE Nifty 50 settled lower amid weak global cues, escalating tensions in West Asia, and rising crude oil prices. The Sensex dropped 719.08 points (0.97%) to settle at 73,524.26, while the Nifty fell 243.70 points (1.04%) to end the day at 23,123.00. Also, rupee weakened despite the Indian government introducing a ...
Dollar index holds above 100 mark
The US dollar index surged above 100 mark on Friday to a two month high following strong US jobs report that increased possibility of a Federal Reserve interest rate hike soon. Jobs data showed the US economy added 172,000 positions in May, far exceeding forecasts. The report pushed Treasury yields higher, with the 10-year yield rising above 4.5% fueling concerns that elevated borrowing costs could weigh on economic growth and investment. Meanwhile, lack of any concrete settlement on US and Iran war front that is keeping oil prices elevated is also adding to inflationary pressures and flocking inventors to dollar for respite. US stocks also slumped on Friday after a strong jobs report consolidated the outlook of restrictive interest rates, while chip producers extended their selloff. The dollar index that measures the greenback against a basket of currencies ended the week at 100.03, up 0.67% on the day.
7 most valued firms' mcap eroded ₹1.25 trn last week, RIL took biggest hit
The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.25 lakh crore last week, with Reliance Industries taking the biggest hit, in-line with a bearish trend in equities. Last week, the BSE benchmark Sensex declined 532.4 points, or 0.71 per cent, and the NSE Nifty dipped 181.05 points, or 0.76 per cent. "Persistent FII selling remained the key drag on market sentiment despite supportive developments such as cooling crude oil prices and a recovery in the rupee against the US dollar. Concerns regarding the pace of monsoon advancement also weighed on investor confidence," Santosh Meena, Head of Research at Swastika Investmart Ltd, said. From the top-10 pack, Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever faced erosion from their valuation, while HDFC Bank, ICICI Bank, and State Bank of India were the gainers. The market valuation of ...
Dollar index witnesses massive surge to 2-month high beyond 100 mark
The US dollar index surged above 100 mark on Friday to a two month high following strong US jobs report that increased possibility of a Federal Reserve interest rate hike soon. Jobs data showed the US economy added 172,000 positions in May, far exceeding forecasts. The report pushed Treasury yields higher, with the 10-year yield rising above 4.5% fueling concerns that elevated borrowing costs could weigh on economic growth and investment. Meanwhile, lack of any concrete settlement on US and Iran war front that is keeping oil prices elevated is also adding to inflationary pressures and flocking inventors to dollar for respite. US stocks also slumped on Friday after a strong jobs report consolidated the outlook of restrictive interest rates, while chip producers extended their selloff. The dollar index that measures the greenback against a basket of currencies ended the week at 100.03, up 0.67% on the day.
Gold slumps most in two months as jobs fuel Fed rate-hike bets
Bullion declined as much as 3.4% as bond yields and the dollar climbed after the latest US data showed job growth topped all forecasts in May. The strength in the labour market keeps the door open for Fed officials to hike rates as Middle East tensions fuel higher energy prices.
HDFC MF, ICICI Pru MF cap large-ticket inflows in gold ETFs, but it won't hurt retail investors
HDFC MF's move alone is unlikely to significantly alter industry flows unless other large gold ETF players follow suit
INR settles lower as prolonged West Asia crisis poses a major risk for India; RBI eyed
The Indian rupee depreciated 7 paise to close at 95.83 (provisional) against the US dollar on Thursday, as heightened geopolitical tensions between the US and Iran drove energy volatility and aggressive safe-haven buying. The prolonged West Asia crisis poses a major risk for India, which relies heavily on energy imports. Market participants are now turning their attention to the Reserve Bank of India's MPC rate decision on June 5, as inflation, growth and the rupee are under focus. The six-member MPC, headed by RBI Governor Sanjay Malhotra, will announce its decision on June 5. Indian equity benchmarks ended flat but resilient today, recovering from early intraday losses. The NSE Nifty 50 closed marginally higher by 10.95 points (0.05%) at 23,416.55, while the BSE Sensex inched up 13.84 points (0.02%) to finish at 74,360.01. The primary catalysts for the market recovery were breaking news of potential tax concessions for foreign institutional investors (FIIs) and tentative signs of ..
Largecaps offer safety, midcaps provide growth: Axis AMC’s R Sivakumar
R Sivakumar, Chief Investment Officer at Axis Asset Management, believes the weakness in India's economy is cyclical and not structural. He expects growth to improve as the impact of past fiscal tightening and interest rate hikes fades. Sivakumar said retail investors have shown remarkable discipline by continuing SIPs and increasing investments during market corrections. He also advocated a balanced approach to investing, saying largecaps provide valuation comfort while midcaps continue to benefit from stronger earnings growth.