Savers have turned investors in 2024 as their exposure to bank deposits has fallen to 42% from 53% in 2020, Kotak Mahindra Bank Founder & Director Uday Kotak tweeted. Calling it a rebalancing of household financial assets, Kotak advised investors to change their mindset as the future called for a holistic approach to financial services. … Read more
Indian stocks stretched their premium over Asian peers to a record as investors bolstered their holdings of local shares while cutting exposure to regional equities. The MSCI India Index extended its valuation gap over the Asian measure to more than 10 percentage points. The 146-member gauge is trading at 24 times its one-year forward earnings, … Read more
BofA Global Research said it now expected two more quarter percentage point interest rate hikes from the U.S. Federal Reserve this year, taking its terminal rate forecast to 5.5% to 5.75%. BofA earlier expected the terminal rate to be held at the current 5%-5.25% range, but the change in forecast comes after the Fed kept … Read more
The Bank of England is set to raise interest rates later Thursday to their highest level since late 2008 as it continues to combat stubbornly high inflation in the U.K. Financial markets expect the bank’s nine-member Monetary Policy Committee to lift its main interest rate by a quarter of a percentage point to 4.5%, its … Read more
Global stock markets sagged while the Japanese yen rose on Thursday in reaction to the Fed’s policy statement and signs of stress at another U.S. regional bank, spurring investors to price in a pivot rather than just a pause in rate rises. Another U.S. regional bank, PacWest Bancorp, reported troubles overnight, reminding investors of the … Read more
Global macroeconomic and financial sector headwinds are set to take a deep toll on the domestic IT companies’ revenue growth in FY24, a report said on Friday. The Rs 10 lakh crore sector is likely to witness revenue growth plunging by up to 9 percentage points to 10-12 per cent in FY24 as against the … Read more