Nifty, Sensex snap 4-day losing streak, PSBs soar; fear of slowdown turns markets volatile, traders eye Fed
Indian benchmark indices ended the session mildly in the green after a day of flat trade on weekly F&O expiry amid weak global cues. Sensex closed over 180 points higher at 62,570, while Nifty settled at 18,613, up by 0.28%. The broader markets ended marginally higher as well, with Nifty Midcap 100 gaining 0.6%. Sectorally, Nifty Pharma was the biggest laggard of the day, while Nifty PSU Bank soared in trade. “After touching a record high, the domestic market experienced significant volatility as global markets tumbled due to fear of an economic slowdown and worries over a Fed rate hike. Recession fears weighed on IT and pharma stocks while banks, especially PSBs, continued to support the bourses. This volatility is expected to sustain in the global market as we await the Fed policy decision and US inflation numbers due next week,” said Vinod Nair, Head of Research, Geojit Financial.
Himachal Pradesh Election 2022 Winners list: Full list of winners of BJP, Congress and AAP (Constituency-wise)
Himachal Election Result, Winners List: The Congress is on its way to form the government in Himachal Pradesh, show the latest trends by the Election Commission of India. While the early rounds of counting showed a close fight between the Congress and the BJP, the situation seems to be in favour of the Grand Old Party as the day progresses.
RBI’s Monetary Policy walking a tight rope: To be or not to be pro-growth?
The RBI Governor address on December 7, 2022 was a discussion that was aligned with market expectations. The market expected a rate hike of 35 basis points, and the RBI announced the same. What is interesting is the RBI governor acknowledging that it is aligned with market expectations and also a comment wherein he said that it is open to debate whether alignment to market expectations is good or bad. This statement clearly reflected the underlying thought process of central bank independence which is key to the success of every monetary policy.
RBI MPC likely to hit pause after one more rate hike in Feb’23; inflation to moderate, growth outlook cautious
The Reserve Bank of India Monetary Policy Committee is widely expected to deliver one more repo rate hike in February 2023, before pausing the hike cycle, even as the full impact of past rate hikes and liquidity tightening measures is yet to be seen amid moderation in inflation, analysts said. Earlier on Wednesday, RBI MPC raised the repo rate by 35 bps, in-line with expectations.
While commodity prices have cooled off, and fall in crude prices is also encouraging, sticky core inflation and higher cereal prices, and increasing food inflation has kept the central bank cautious. The terminal repo rate is seen at 6.5% and retail inflation is expected to moderate going forward. However, adverse geopolitical developments and an unexpected shift in Fed’s stance pose risks to the growth outlook.
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New Suzuki Burgman Street EX: All you need to know
Suzuki Motorcycle India recently introduced the updated Burgman scooter in the country. The new 2023 Suzuki Burgman Street EX has been launched in the Indian market at a starting price of Rs 1.12 lakh, ex-showroom. Here’s all you need to know about this maxi-style scooter.?
Rs 128 crores assets to just 3000 in bank account: Richest and poorest candidates in Himachal elections
Himachal Pradesh is voting for its favourite candidate today. While people are waiting for results, we have compiled a list of the richest and poorest candidates in Himachal Pradesh elections. On one hand, there are two billionaires and three candidates who belong to political dynasties, there are a few candidates who find it difficult to manage their day to day needs.
Apollo Tyres bets on quality and sustainability to drive growth
One of the future megatrends of autonomous driving will see the tyre need to better communicate with the vehicle. This is exactly what??Apollo Tyres has its eyes set on as the company?inaugurated its new R&D testing facility in Chennai. This happens to be the first such facility for the company in Asia, and the second after Europe globally. The company currently has over 400 full-time R&D engineers and researchers working on new products and solutions. Amongst the interesting developments taking place at the R&D centre is a tyre integrated with a sensor that can provide real-time tyre pressure status not only to the vehicle’s display but also on the cloud. On the other hand, it is also working on tyres integrated with RFID which can be tracked easily to ensure reliable identification and in future build data-driven solutions and services.