Weekly Snippets of World Market News
?Indian Government Bond Stability Amidst Market Fluctuations: Insights from Last Week's Performance.
Last week, the Indian government bond fluctuated between 7.1990% to 7.1470%. However, It ended the week steadily. The absence of new catalysts shifted attention to upcoming key U.S. jobs data, which will provide insights into the Federal Reserve's interest rate direction.
?India's Foreign Exchange Reserves: Record Highs Followed by Consecutive Declines.
India's foreign exchange reserves saw a decrease for the third consecutive week, following a seven-week streak of increases that culminated in a record high of USD 648.562 billion. According to the latest data from the Reserve Bank of India, the nation's foreign exchange reserves dropped by USD 2.412 billion to reach USD 637.922 billion in the week ending April 26.
?Investors Anticipate Modi's Third-Term Victory: Minimal Volatility Expected in Indian Stock Market.
Market participants have factored in the likelihood of Modi securing a third term in office. Investors anticipate that India's national elections will not cause significant volatility in the stock market, as reflected by the relatively low cost of insuring against a decline if Prime Minister Narendra Modi does not win a third consecutive term.
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?SEBI Initiatives: Enhanced Investor Participation in Private Placement of NCDs and NCRPS.
SEBI has increased non-institutional investor participation by permitting private placement of NCDs or NCRPS with a reduced face value of Rs 10,000. To ensure investor protection, appointing a merchant banker for such issuances is now obligatory. These instruments are required to be plain vanilla or dividend-bearing, with allowances for credit enhancements.
?Indian Rupee's Expected Stability: Influence of Reserve Bank of India Interventions.
Over the next three months, the Indian rupee is expected to closely track the movements of the U.S. dollar, as consistent interventions by the Reserve Bank of India maintain a tight control over the currency.
?US Federal Reserve Holds Rates Steady: Highlights from Latest FOMC Meeting.
The US Federal Reserve maintained interest rates at their current level of 5.25 percent - 5.50 percent, which marks a 23-year high, unchanged for the sixth consecutive session. Jerome Powell said that it "will take longer than previously expected" for policymakers to become comfortable that inflation will resume the decline towards 2%.