Market News
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RBI in wait-and-watch mode, no certainty on rate hike: Governor Sanjay Malhotra
Reserve Bank of India Governor Sanjay Malhotra stated that an interest rate hike is premature, as inflation hasn't broadly impacted consumer prices. The central bank remains in a 'wait-and-watch' mode, closely monitoring global uncertainties and the monsoon's progress. While acknowledging improved outlooks, risks persist, but India is well-prepared for challenges. The RBI has revised inflation forecasts upwards and growth forecasts downwards for the fiscal year.
S&P Global Projects 110-Bps Drop In India's Economic Growth Amid Inflation Fears
Given the expected rise in inflation, S&P Global believes the RBI will begin raising the repo rate from October, marking the start of monetary policy tightening in the second half of the financial year.
Sensex jumps over 250 pts, Nifty above 23,900; Trent shares surge 4%
Indian stock markets showed resilience on Wednesday, with Sensex and Nifty recovering from previous losses. Trent shares surged, leading the gains. While broader markets dipped, IT and Pharma sectors saw modest gains. Analysts noted global tech stock volatility but highlighted India's steady growth and easing crude oil prices. However, concerns over a deficient monsoon are emerging, potentially impacting rural demand and corporate profits, prompting portfolio adjustments.
Tech-Led global selloff, Fed rate fears weigh on Indian equities
Indian stock markets experienced their sharpest single-day drop in nearly a month, mirroring a global tech sell-off. The Nifty 50 and BSE Sensex both fell significantly, influenced by a strong US dollar and profit-taking after recent gains. While pharma and healthcare sectors showed resilience, most others, including metals and IT, declined. Market volatility increased, with analysts watching key support levels closely.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Sensex and Nifty plunged over 1% on Tuesday amid global market weakness, IT sector losses, a weaker rupee and fresh foreign fund outflows. Investors will track technical levels, global cues, FII activity and key stock movements on Wednesday as markets look for direction after the sharp decline.
Swiggy Teams Up With Zerodha Fund House To Enable Mutual Fund Investments For Gig Workers
Swiggy partners Zerodha Fund House to let delivery partners invest in mutual funds from Rs 100.
Sensex trades on choppy note, Nifty below 24,100 as IT stocks drag benchmarks lower
Indian stock markets saw a subdued trading session on Tuesday, with the Sensex and Nifty experiencing minor dips, primarily due to losses in IT stocks. Broader market indices, however, showed resilience. Analysts point to improving West Asian peace prospects and falling crude oil prices as positive for economic growth, though concerns remain about the monsoon's performance. Global cues, particularly the US Federal Reserve's upcoming commentary, will be closely watched.
Govt bonds walk tightrope on steady oil price, shaky US-Iran truce
Traders said Indian debt markets still face rate risks from El Niño's potential impact on inflation and growth and elevated global yields after a hawkish US Federal Reserve commentary
Kevin Warsh is no hawk and Fed rate hikes look unlikely: Julius Baer
Mark Matthews, Head of Research Asia at Bank Julius Baer, expects crude oil to fall to $60 per barrel by next year. However, he said strong earnings growth in the US, driven by artificial intelligence investments, continues to attract global capital, limiting the appeal of India for international investors in the near term.
Easing West Asia tensions boost IPO activity, 3 issues to open next week
The primary market is showing signs of revival as improving geopolitical conditions in West Asia have boosted investor sentiment, prompting three mainboard IPO launches next week and paving the way for more public issues in the pipeline. Cordelia Cruises operator Waterways Leisure Tourism, Jaipur-based jewellery manufacturer Advit Jewels, and IT solutions provider CSM Technologies will launch their maiden public issues over the next few days, while packaging solutions provider Knack Packaging is expected to announce its price band. Quick commerce unicorn Zepto is looking to raise over Rs 10,000 crore, and the country's largest fund house, SBI Mutual Fund, plans to launch its Rs 13,000-crore public issue next month, according to people familiar with the development. In June, CMR Green Technologies and Hexagon Nutrition have already launched their IPOs, while the public issue of insurtech unicorn Turtlemint Fintech Solutions is currently underway. Adding to the momentum, the National
IT nightmare on loop, Accenture's 20% fall highlights AI disruption
Indian tech stocks experienced a sharp decline Friday, mirroring a significant drop in global IT giant Accenture due to weaker-than-expected revenue and order forecasts. The Nifty IT index plunged over 6%, with major players like Infosys and TCS seeing substantial losses. Analysts suggest valuations are now attractive but future growth remains uncertain amid AI advancements, advising caution for investors.
Market snaps five-day rally as IT rout drags Nifty below 24,050
The domestic equity benchmarks ended sharply lower on Friday, snapping a five-session winning streak. The Nifty slipped below the 24,050 mark as a steep sell-off in IT stocks weighed on sentiment. Technology shares came under pressure after Accenture trimmed its revenue growth guidance and flagged weak demand visibility, raising concerns about global IT spending. Healthcare and pharma stocks, however, bucked the broader weakness. Investor sentiment was further affected by continued FII selling, weak global cues and rising geopolitical tensions in the Middle East. Profit booking following the recent market rally also added to the downside pressure.