Posts in category Business Standard
US Fed rate decision, June qtr earnings to drive markets this wk: Analysts (23-07-2023)
The US Fed interest rate decision and ongoing quarterly earnings from corporates are the major factors to drive the equity markets this week, where the benchmark indices may face volatile trends amid the scheduled monthly derivatives expiry, according to analysts.
Besides, trends in global markets and the trading activity of foreign investors would also influence domestic equities.
"On July 26, the US Federal Reserve will announce its policy decision, and there is an expectation of a 25 basis point rate hike. Market participants will closely analyse the comments made during the announcement. Additionally, on July 28, the Bank of Japan will also reveal its policy decision," Santosh Meena, Head of Research at Swastika Investmart Ltd, said.
Companies like Tata Steel, Asian Paints, Axis Bank, Bajaj Finance, BPCL and Tech Mahindra will release their earnings throughout the week, Meena added.
Shares of Reliance Industries Ltd, India's most valuable company, will be in focus on Monday aft
Gold ETFs snap three-quarters of outflow, attract Rs 298 cr in June qtr (23-07-2023)
After three straight quarters of outflows, gold exchange-traded funds (ETFs) attracted Rs 298 crore in the April-June period, and experts believe that investors will continue to invest some portion of their assets in the safe haven product.
However, the inflows were down by almost 80 per cent compared to the year-ago period.
On the other hand, the asset base of gold ETFs and investors' account or folio numbers increased in the quarter under review, the Association of Mutual Funds in India (Amfi) data showed.
According to data, gold-linked ETFs have seen an inflow of Rs 298 crore in the April-June quarter of the current fiscal (2023-24). This came following an outflow of Rs 1,243 crore in the March quarter, Rs 320 crore in the December quarter,r and Rs 165 crore in the September quarter.
Before that, Gold ETFs witnessed an inflow of Rs 1,438 crore in the quarter ended June 2022.
The moderate flows into Gold ETFs in the last few quarters could be because of combinations of removal o
FPIs stay invested in Indian equities; put in Rs 43,800 cr this month (23-07-2023)
Indian equity markets continue to draw foreign portfolio investments as foreign investors put in Rs 43,800 crore in July so far on stable macroeconomic fundamentals, steady earnings growth and challenges faced by the Chinese economy.
With this, inflow in the equity market reached Rs 1.2 lakh crore so far this year, data with the depositories showed.
Market analysts are of the view that the outlook for FPI inflows into Indian equities remains quite bright and broad-based.
The concern, however, is the rising valuations. At high valuations, some negative triggers can lead to a sharp correction, V K Vijayakumar, Chief Investment Strategy at Geojit Financial Services, said.
Persistent flows from FPIs have led Indian equity markets to surge to their all-time high levels. Therefore, intermittent profit booking cannot be ruled out going ahead, Himanshu Srivastava, Associate Director - Manager Research at Morningstar India, said.
According to the data, FPIs have been continuously buying In
Households in Covid vulnerable districts bought more gold: IIMA study (23-07-2023)
Households in India's COVID-19 vulnerable districts allocated more gold to their savings portfolio during the pandemic compared to households in other districts, as per a study conducted by the Indian Institute of Management Ahmedabad (IIMA).
The shift towards gold is accompanied by a shift away from other financial assets and cash, as per the IIMA working paper titled 'Gold in household portfolios during a pandemic: Evidence from an emerging economy'.
The study, published on IIMA's website on June 30, captured the variation in the intensity of the crisis using two main indicators: COVID-19 cases per 1,000 population, and satellite-based night-time lights intensity.
The survey covered 142 districts across 21 states.
India is the second-largest consumer of gold (in the form of jewellery) in the world and an average Indian household invests 11 per cent of its overall holdings in the precious metal, as per the study paper.
It said addressing geographical inequalities in the availabil
Incorrect security pricing caused by glitch behind India index slump: MSCI (22-07-2023)
The MSCI India Index slumped about 9% mid-day local time even as the Nifty 50 Index, the benchmark gauge of the National Stock Exchange of India Ltd., was down about 1%
Gold price dips Rs 310 to Rs 60,440, silver price rises Rs 600 to Rs 79,000 (22-07-2023)
The price of 22-carat gold dipped Rs 300, with the precious metal selling at Rs 55,400
Wall Soft from UP is Launching a Hybrid Crypto Currency Exchange (21-07-2023)
Mumbai (Maharashtra) [India], July 21: A start-up based in Uttar Pradesh, India, is causing a major disruption in the realm of cryptocurrency with its groundbreaking approach. While cryptocurrency trading exchanges are gaining popularity, they often suffer from inflexibility. Recognizing these limitations, Wall Soft Info Labs Private Limited has introduced Hybrid Exchange, such as HEX, to address the common challenges faced by users, including limited control over their funds, interference from third parties, and restrictive policies related to naming. By offering a seamless trading experience, rapid transactions, and a user-friendly interface, the company aims to provide users with unparalleled flexibility.
Yatharth Hospital, Trauma Care Services announce IPO to raise Rs 490 cr (21-07-2023)
The issue will open for subscription from July 26 to July 28 while anchor investors will be able to bid on July 25
Information technology companies battle revenue slowdown, margin decline (21-07-2023)
The meltdown in IT stocks on Friday was triggered by the Infosys results and projections announced the previous day
Utkarsh Small Finance Bank’s stock soars nearly 92% on market debut (21-07-2023)
In the IPO, Utkarsh SFB raised Rs 500 crore by issuing new shares. The lender plans to use the proceeds for augmenting its tier-1 capital base to grow its business