“I still firmly believe that a lot of pent up demand exists in the economy and amongst consumers and businesses and as a result, the second half probably should be very strong or resilient in terms of growth. Now when you tie this into the market and given the fact that markets tend to discount 12 months forward earnings, Indian market at Nifty level will do something close to Rs 1,000 of EPS in FY24. ”
Flashbots is already the dominant way for miners to collect fees from traders by letting their transactions front-run and otherwise step around others. Other participants are considering becoming builders because of concern about Flashbots or similar entities having too much control.
The proximate cause: SPY charges a comparatively beefy 10 basis points versus just 3 for its younger clone known as the $15 billion SPDR Portfolio S&P 500 exchange-traded fund (SPLG).A similar dynamic has also hit big-name ETFs investing in everything from Big Tech stocks and high-yield credit
Whether it remains a winner becoming even more deeply inverted depends not just on how many more rate hikes there will be, but also on the economic consequences and the Fed’s tolerance for pain. Powell will open the Wyoming confab with remarks on Friday at 10 a.m. New York time. And speculation is mounting that he’ll strike a hawkish tone that leans against market expectations for rate cuts in 2023 in response to an economic slowdown.
“Unlike the Nifty move which was pretty sharp, the valuation uptick was not that sharp, partly because Q1 results were factored in and therefore, when we moved our estimates forward, valuations looked a tad bit better. After this stupendous rally, one should see some bit of moderation in the Nifty levels and I would not be surprised if that moderation continues well into this month as well.”
Chinese equities are seen making up lost ground as the extreme pessimism toward its economy recedes and authorities take further steps to revive stuttering growth. At the same time, the gathering enthusiasm over other developing-nation equities could peter out amid a global slowdown, causing their correlation with China to reassert itself.
"The fear index, India VIX has remained below 20 during the last week suggesting an overall positive sentiment. On the higher end, 18000-18100 is likely to act as a very crucial resistance. On the lower end though, 17700 may remain crucial support. A fall below 17700 may trigger a sell-off in the Indian equity."
The company will consider raising funds via rights issue, reported CNBC. API Holdings rights issue will have Compulsory Convertible Preference Shares (CCPS). The right issue will open in the first week of September this year.
We have had oil going down that has been a big boost for the markets. Overall another good news is that the Atlanta Fed projection for the US for quarter three is now running at 2.5% of year on year growth in GDP. So after two quarters of negative print we are going to see a pretty strong quarter for the US economy that gives substance to the markets.
From a technical perspective, the most important of the four previous sessions was that on Friday as both Nifty and Nifty Bank Index were steeply overbought on the daily time frame. Apart from this, they also appeared structurally over-extended on the charts.