Gold extended gains to a near three-week high on Tuesday, as growing expectations of another U.S. Federal Reserve interest rate cut in December lifted demand for the safe-haven asset. FUNDAMENTALS * Spot gold was up 0.4% at $4,131.83 per ounce by 0053 GMT, its highest since October 24. U.S. gold futures for December delivery rose … Read more
In a conversation with ET Now, Poonam Upadhyay, Director, Crisil Ratings highlighted that the latest GST rate cuts are set to significantly benefit organized apparel retailers, particularly as the festive and wedding seasons drive spending to peak levels. “This report is largely focusing on the apparel retailers. The growth will differ across different sectors. But … Read more
As India’s earnings season gets underway, banks are emerging as the standout performers, with analysts and investors expressing optimism about the sector’s near-term prospects. Ashwini Agarwal, Founder, Demeter Advisors in an interview to ET Now emphasized that the sector continues to offer value. “Banks and financials as a space looks quite interesting because valuations are … Read more
Wall Street‘s main indexes rose on Friday for their fifth straight day, buoyed by the U.S.-China tariff truce earlier in the week even as economic survey data showed a deterioration in consumer sentiment. The S&P 500 steadily added to gains from late morning, while investors took weak data in their stride. The University of Michigan … Read more
Chinese e-commerce giant Alibaba Group Holding Ltd recorded 540.3 billion yuan ($84.54) billion in orders, or “gross merchandise value” (GMV), over its 11-day Singles’ Day sales event, marking a roughly 14% increase from the year prior. The results come as overall consumption in China slows, and cap a relatively muted version of a sales festival … Read more
Executives said they have had to be restrained in the deployment of employees — already reduced because of the pandemic — keeping in mind their safety. Synopsis Immediate, large-scale inoculations and reducing fatalities are key to restoring consumer confidence. Top corporates said the inability to deploy employees where needed on ground for the implementation of … Read more
The raging second wave of Covid-19 has resulted in a 3.8% dip in the index of consumer sentiment in April, the sharpest fall since May 2020, said the Centre for Monitoring Indian Economy. Week-on-week the decline in the consumer sentiment index has been steeper with the index falling by 5.4% in the week ended May … Read more
Higher income households, with higher savings and better sentiments, will drive the revival in consumer spending in India, the Centre for Monitoring Indian Economy said. “India’s revival in consumer spending is likely to be driven by households that earn more than a million rupees a year when the lockdown is lifted,” CMIE said in its … Read more
Indian consumers turned more pessimistic about the present and less gung-ho about the future, making them less likely to spend big in an economy that’s driven by domestic consumption. The current situation index fell to 53.1 in March from 55.5 in January, according to the Reserve Bank of India’s consumer confidence survey, where 100 is … Read more