Global share markets slid on Thursday as U.S. inflation hit almost 8%, making it almost certain the U.S. Federal Reserve will raise interest rates next week
The Budget and RBI's last policy took a conservative estimate of crude prices $75 per barrel. This is likely to be a challenge going forward, economists say
CLOSING BELL: Ultratech Cement, HDFC Life, Asian Paints, Shree Cement, Eicher Motors, SBI Life, and Tata Consumer Products were the top laggards, down up to 6.5 per cent
In a Q&A, founder and MD of Valentis Advisors, Jyotivardhan Jaipuria talks about how on a tactical basis, his outfit has been adding to cash levels over the past quarter
HDFC (up 1.7 per cent), Reliance Industries (1.2 per cent), and Power Grid (0.56 per cent) were the top large-cap gainers today
The NSE Nifty50, on the other hand, breached below the 16,850-mark to end 532 points, or 3.06 per cent, lower at 16,843. This was the indices biggest intra-day fall since November 26, 2021
All the sectoral indices settled in the negative territory today with technology and public sector banks being the worst hit. The IT and PSB indices dropped nearly 3% and 2%, respectively
The high spirits on the budget were short-lived as the global concerns have began weighing on equities.
The increase in infections has raised the downside risks to the economic outlook and suggests the reopening of the U.S. economy may be more protracted
That is the read from traders on Friday after a government report showed employers added 266,000 jobs last month
The remarks were part of a new attack the White House has launched against the independent central bank
US Fed has been raising rates since December 2015, including four times last year, to a current range of 2.25% to 2.5%
Gloomy corporate results and forecasts also weighed on US stocks
The Fed has also been at the receiving end of criticism from President Donald Trump
Together, the five rate increases were the most in any week since records started in 2001
Trump added that he was concerned that the Fed's rate hikes may put the United States at a "disadvantage"
The rate hike is a slight negative for markets, but not as negative if the uncertainty (trade war) had continued, says UR Bhat
The Fed action and tone of statements will continue to be read closely by the RBI in the coming months
The yen was little changed after the BOJ cut some bond purchases in its regular operations
Policymakers projected a slightly faster pace of rate increases in the coming months