The European Central Bank raised interest rates for the ninth straight time in its yearlong campaign to stamp out painfully high inflation, even as worries about recession fuel speculation that Thursday’s hike could be its last. ECB President Christine Lagarde had all but promised the quarter-percentage point increase. That puts the focus at her post-meeting … Read more
As headline indices Sensex and Nifty scaled new all-time peaks, foreign institutional investors or FIIs invested about $2.7 billion on Indian stocks in just 5 trading days of this week. The fresh round of inflow comes in even as 93% of Wall Street traders are presuming that the US Fed will hike interest rates by … Read more
Amid improvement in macroeconomic fundamentals, June emerged as the best month with strong foreign portfolio investors (FPIs) inflows in the last 10 months. The FPIs pumped in Rs 47,148 crore in Indian equities in June. This would also be the fourth consecutive month where FPIs have continued to end as net buyers in domestic stocks. … Read more
While benchmark indices are taking baby steps towards lifetime highs, the broader market and even penny stocks remained on the fast lane on Dalal Street. A total of 636 penny stocks gave index-beating returns in the week gone by. The S&P BSE Sensex was down 0.4% week-on-week. As many as 60 penny stocks have given … Read more
The US Federal Reserve is widely expected to raise its benchmark lending rate for a tenth — and possibly final — time on Wednesday, as it continues its fight against high inflation. The US central bank is likely to take this decision despite growing signs that the American economy is slowing down, with many economists … Read more
The U.S. economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight downgrade from its previous estimate. But consumer spending, which drives most of the economy’s growth, was revised sharply down. The government had previously estimated that the economy expanded … Read more
US banks are being forced to do something they haven’t done for 15 years: fight for deposits. After years of earning next to nothing, depositors are discovering a trove of higher-yielding options like Treasury bills and money market funds as the Federal Reserve ratchets up benchmark interest rates. The shift has been so pronounced that … Read more
Gold closed with strong gains of 2.50% on the week as the markets took solace in their notion that the US Federal Reserve may pause rate hikes in next few months and the next hike would be 25 bps, not 50 bps. The US 10-year yields were up 0.30% on the week, while the US … Read more
Foreign investors offloaded nearly Rs 5,900 crore from the Indian equity markets in the first week of January on growing concerns over the re-emergence of Covid in some parts of the world and recession worries in the US. Foreign Portfolio Investors (FPIs) have been adopting a cautious stance toward Indian equity markets for the past … Read more
Unlike most of its peers, Indian equities bid goodbye to 2022 on a good note as optimism over domestic growth prospects overshadowed the macroeconomic headwinds that developed and other major developing economies are currently experiencing. Indian equities were the second best performers in 2022, with the first one being Brazil. Domestic benchmarks Nifty 50 and … Read more