Dip in dollar, bonds, and oversold markets boost global equities
High inflation will keep the markets on edge as they were hoping that the global central banks, especially the US Fed and the RBI will go soft on rate hikes over the next few months
Gold prices were steady as market participants refrained from making big moves ahead of key US inflation reading that could influence the size of the Federal Reserve's next interest rate hike
The Reserve Bank of India likely sold dollars via state-run banks on Monday after the rupee plumbed a fresh record low following a US jobs report that firmed bets of more aggressive rate hikes
Spot gold was up 0.5% at $1,667.89 per ounce, as of 0603 GMT. U.S. gold futures were 0.2% higher at $1,675.30
The 7% drop came as investors grappled with persistently high inflation, a surging dollar and jumbo interest-rate hikes across the world that threaten to choke economic growth
Central bank's rate hike and easing dollar index lend support to domestic currency
The reluctance of the RBI to change stance from 'withdrawal of accommodation' indicates that more monetary policy tightening is likely to be in the pipeline, analysts said
Spot gold fell 0.6% to $1,619.79 per ounce, as of 0854 GMT. U.S. gold futures slipped 0.5% to $1,627.60
Spot gold was little changed at $1,645.47 per ounce as of 0724 GMT. Prices fell as much as 1% earlier in the session to hit $1,626.41, their lowest level since April 2020
CLOSING BELL: ith this, the indices have yet again turned negative for calendar year 2022. During the day, the Sensex had tumbled over 1,100 points, and the Nifty50 had erased nearly 350 points
Until the S&P BSE Sensex and Nifty50 do not break 57,000 and 17,000 levels, there are higher changes of touching 64,000 and 19,000 levels.
CLOSING BELL: Sectorally, indices ended mixed with the Nifty FMCG index rising over 1 per cent, while the Nifty Bank, and Financial Services indices falling up to 1.4 per cent each
Hong Kong housing is at risk of becoming the least affordable in 24 years, as rate hikes by the US Federal Reserve drive up borrowing costs in the Asian financial hub
This could result in a further rise in bond yields in major economies including India
Putin's call for partial mobilisation hits risk appetite in currency market
CLOSING BELL: The losses, meanwhile, were led by the Nifty Metal index (down 2 per cent), and the Nifty Pharma index (1.4 per cent)
Brent crude futures for November settlement were up 41 cents, or 0.5%, to $92.41 a barrel at 0939 GMT
Equity markets will be driven by the outcome of the US Federal Reserve's interest rate decision this week, analysts said. Moreover, equity benchmarks will also continue to be guided by foreign fund movement and trend in Brent crude oil, they added. "The global markets are looking nervous after the US inflation numbers, which have caused the dollar index to hover around 110," said Santosh Meena, Head of Research, Swastika Investmart Ltd. Now everyone is eyeing the outcome of the upcoming US Federal Open Market Committee (FOMC) meeting. The Bank of England will also announce its interest rate decision, Meena said. He further added that institutional flows will play a critical role because foreign investors have turned sellers in the Indian equity market. "In absence of any major domestic data and events, participants will be closely eyeing the US Fed meet. Besides, the trend of foreign flow would also remain on their radar," Ajit Mishra, VP Research, Religare Broking Ltd, said. Las
Investors' wealth eroded by more than Rs 2.21 lakh crore in early trade on Wednesday, with the market witnessing a selling-off amid prospects of aggressive rate hikes by the US Federal Reserve to tackle high inflation, and sluggish global trends. In less than hour of the start of trading on Wednesday, the key indices -- Sensex and Nifty -- were deep in the red and witnessed significant volatility, reflecting jittery investor sentiments. The market capitalisation of BSE-listed companies, which is also an indicator of wealth of investors, tumbled more than Rs 2.21 lakh crore to Rs 2,84,49,727.56 crore amid the 30-share Sensex falling 564.76 points to 60,006.32 points. On Tuesday, when the markets had gained for the fourth straight session, the market valuation stood at Rs 2,86,71,193.94 crore. Global markets went into a tizzy on Tuesday soon after the US inflation data for the month of August triggered concerns over the possibility of further rate hikes by the US Federal Reserve. Bo