Prime Minister Narendra Modi said Indian agriculture produce need to reach global markets, justifying the rationale behind bringing in the three contentious farm bills.
BloombergJust as an everything rally propels records in the S&P 500 and inflates risk assets, the bond market is emitting a warning signal to investors that a rapid economic rebound comes with its own dangers.
The company rolls out the bike with over 90 per cent localisation from its Manesar (Haryana) based manufacturing facility. HMSI had introduced the bike in October 2020 and has already crossed 10,000 sales mark in February this year in the domestic market.
Positive momentum from Asia carried through to Europe, with the pan-European STOXX 600 edging up 0.9%.
He said Guru Rabindranath Tagore had not envisioned the university as a typical educational institution but one that will help Indian culture realise its full potential.
Apart from a few weeks culminating in the 2020 market lows of March 23, stocks managed to shrug off what has been a drastic collapse in global economic activity with significant immediate and longer-term consequences.
The market is always about what will happen rather than what has happened, and it’s been highly profitable in recent years to buy whenever the market pulls back.
There will be 5G use cases which will be developed in India by local companies who can ship these use cases to global markets, he said. The government is expected to notify 5G trials shortly.
In 2020, tea production India fell due to the lockdown. Once the lockdown was withdrawn, it took almost a month for the bushes to come in shape to generate fresh tea leaves and buds. In 2019, India had produced 1,390 million kg of teas.
The size of China's exclusive billionaire's club has almost doubled in the past five years as the world's number two economy continued to outpace most others, and its ability to mostly avoid the worst of the coronavirus meant it was one of the few to expand in 2020.
After a decade of underestimating inflation, central bankers in the United States, Europe and Japan have every reason keep money taps open and policymakers are even rewriting their own rules so they can let price growth overshoot their targets.
The pan-regional STOXX 600 index rose 1.7%, tracking strong gains in Asian markets, while data showed manufacturing activity picked up pace in major euro zone economies in February.
The annual tracking study from the university's East Asian Bureau of Economic Research recorded A$1 billion ($783 million) of Chinese investment in 2020, consisting of real estate (45%), mining (40%) and manufacturing (15%) deals.
The increase reflects intervention in foreign-exchange markets and positive valuation effects that pushed total holdings to $5.74 trillion, just shy of the record $5.8 trillion hit in 2014.
Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.
Globally, sectoral trends are clearly skewed towards banking and old economy stocks since the equity rally changed lanes last month.
Oil prices soared to a 13-month high as a deep freeze due to a severe snow storm in the United States not only boosted power demand but also threatened oil production in Texas.
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.03%, trading just shy of an all-time high reached in the previous session. Australian stocks lost 0.31%. Shares in Tokyo fell 0.32%, pulling back from 30-year highs.
Gains were capped by news that the EU has slashed this year's eurozone economic growth forecast to 3.8 percent from 4.2 percent, citing the impact of Covid-19 curbs.
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1%, having climbed for four sessions straight to be up over 10% so far this year.
Further, payment issues with Iran have dented India’s tea exports. Hardly any tea is being shipped to the Gulf nation these days, said industry executives.
The Pune-based e-mobility player currently has two scooter models -- Dextro and Dextro + -- and three hybrid cycle models -- Roadlark, Aello, and Rompus -- in its product portfolio, which are produced at its Pune manufacturing facility.
Japan's Nikkei climbed 0.3% while Australian shares advanced 0.5% led by technology and mining shares.
The team analysed the term premium or the difference between the 10 year government security yield and the overnight policy rate as a measure of the term spread.
"This transaction, which was arranged in conjunction with Macquarie Group's Commodities and Global Markets group (Macquarie), is the energy industry's first major petroleum shipment for which greenhouse gas (GHG) emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset," it said.
“The key inflection point for markets will be whether the government -- be it Biden- or Trump-led -- is divided,” said Peter McCallum, rates strategist at Mizuho International Plc in London.
While the numbers may have been exaggerated by this year's COVID-19 crisis, most analysts agree that Trump's tax cuts, combined with low interest rates and the online boom, have made Wall Street a winner over the last four years.
Foreign investors today sold Indian stocks worth Rs 5,930.7 crore on the bourses, data available on the NSDL showed. The selling pressure caused the Nifty50 and BSE Sensex to close over 1 per cent lower each.
Technology companies led a broad sell-off in stocks Wednesday, knocking more than 600 points off the Dow Jones Industrial Average and handing the market its worst day in nearly three months. The S&P 500 fell 2.6%, its biggest single-day drop since it lost 3.5% on October 28. It had set a record high just two days earlier. The Dow and tech-heavy Nasdaq composite also fell more than 2%. The sell-off left the S&P 500 and Dow in the red for the year.US: Stocks have worst day since October as big tech sinks
Signs that Joe Biden's much-vaunted stimulus could face a tough ride through Congress were also tempering optimism, while there was increasing talk of a market correction following a recent global rally.
The Nikkei 225 Index ended down 0.96% at 28,546.18 points, with consumer cyclicals, energy and materials makers leading the decline. The broader Topix fell 0.75% to 1,848.00.
The lower risk appetite lent some support to the dollar against a basket of currencies, while oil prices edged down.
Exchange-traded U.S. equity funds took in $7 billion last week, led by strategies tracking the hottest themes from solar power to robotics.
“India’s GDP grew from $249 billion in 1986 to $2.9 trillion last year. As the government envisions a $5 trillion economy over the next five years, indices can be expected to surge significantly in the next couple of years.”
I do not think it is going to be anything like what we had in February and March, says Geoff Dennis.
Globally, gold prices fell weighed by a steady dollar and fading chances of a new US fiscal stimulus package being finalised before the November elections.
The gains in the market were broad-based with the Nifty Smallcap 100 and Nifty Midcap 100 index climbed 0.6 per cent and 1.0 per cent, respectively.
After recessions in 1992, 2002 and 2009, price-earnings ratios fell as growth resumed and stocks still managed to rise -- in each case with the help of Federal Reserve stimulus.
The U.S. benchmark yield was on track to post its first full-session decline in 2021, even as a jump in gasoline prices pushed inflation higher last month.
Europe's STOXX 600 index and the euro were up 0.7 per cent and 0.2 per cent respectively before PMI economic data expected to show the region's ongoing gradual recovery from coronavirus slump.
Global markets are performing better than India but the slow recovery here was expected: Vineet Gautam, Bestseller India
Covid-19 is here to stay for a while. But the good part is that we have started to live with the virus now. A lot of industries have started to show better numbers, asserts Vineet Gautam.
Benchmark Treasury yields held firm at 10-month highs as investors adjusted for higher government spending under the Joe Biden administration, helping the dollar rebound and making gold expensive.
India is one of the two markets, which have doubled their earnings over three years, says Vikash Kumar Jain.
Investors were keeping a wary eye on U.S. politics as pressure grew to impeach President Donald Trump, though signs were an actual trial could be some time away.
The largest exporter of automobiles from India, HMIL, said it surpassed the 30 lakh vehicle export milestone earlier in 2020. The company currently exports cars to 88 countries across five continents.
For more permanent comfort, India must reduce its vulnerabilities to commodity prices by producing more in India. Not just in 2021, but in every year from now.
Financial markets across Australia, Brazil, Germany , Hong Kong, Japan, Singapore, France China, UK and the US are closed on Friday for a public holiday. Domestic equities market will, however, open on usual timing.
Motilal Oswal Nasdaq 100, PGIM Global Equity Opportuities Fund, Edelweiss Greater China Offshore Fund and DSP World Energy Fund are among the top picks of investment advisors.
The pan-European STOXX 600 was up 0.8% by 0828 GMT, rising for a fifth straight session and scaling a new 10-month high.
Nifty has to hold above the 13,750-13,777 zone to witness a fresh rally towards a new lifetime high of 14,000 and then 14,200 levels, while on the downside, major support exists at 13,700 and 13,600 levels.
Brent crude was up 68 cents, or 1.3%, at $51.97 a barrel at 1020 GMT, after trading as high as $52.02, reversing an earlier decline. U.S. West Texas Intermediate (WTI) crude added 69 cents, or 1.4%, to $48.92.
The minister said that the target now is to provide 5 crore more jobs in the MSME sector while increasing export share to 60%.
"While many of the top vendors have reduced their 2020 production plans to align with the market decline, we've seen most of the cuts focused on their 4G portfolios," said Ryan Reith, programme vice president with IDC's 'Worldwide Mobile Device Trackers'.
The record high of 13777.5 was made on December 21, before the Nifty plunged to 13131.45 on fears of a more deadly Covid variant, which spooked global markets.
In a more promising sign, E-Mini futures for the S&P 500 recouped their early losses to edge up 0.3% and EUROSTOXX 50 futures added 0.2%. FTSE futures dipped 0.2%.
Defensive viz. FMCG, IT and pharma tend to do well during the corrective phase, but traders should maintain caution in the selection of the stocks as we’re seeing selective participation, said Ajit Mishra, VP - Research, Religare Broking.
On Wall Street, the S&P 500 lost 0.36% on Wednesday but tech-heavy Nasdaq added 0.15% due to hopes of increased demand for various online services due to the epidemic.
At the 17th Confederation of Indian Industry (CII) Global SME Business Summit, Amazon.in and CII signed a Memorandum of Understanding (MoU) to bring the benefits of ecommerce to micro small and medium enterprises (MSMEs) in 10 states across India.
While that view is clearly still a minority one in most financial circles -- and the Goldman analysts don’t say they believe it will necessarily happen -- it captures a nervous vibe that has infiltrated the market this month: Investors worried that this money-printing will trigger inflation in years ahead have been bailing out of the dollar and piling furiously into gold.
Global markets eased after several scientists questioned some efficacy results of a trial of UK drugmaker AstraZeneca's COVID-19 vaccine candidate, stoking worries that this could lead to a delay in key approvals.
MSCI's broadest index of Asia-Pacific shares outside Japan was flat.
After the United Arab Emirates (UAE) and Israel agreed to normalise relations in August, the two countries have signed a host of accords to boost economic and business ties.
Addressing shareholders at the first annual general meeting of the company which has been formed after the merger of Tata Global Beverages and consumer products business of Tata Chemicals, Chandrasekaran said the situation arising out of the coronavirus "situation has progressively improved" though some of the challenges will persist in the short term.
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.11% on Tuesday morning, a day after hitting its highest level since launching in 1987. The MSCI World Index of global shares which also hit a record high on Monday, ticked higher still in Asia's morning trading.
The Nikkei 225 Index ended 2.05% firmer at 25,906.93, its highest close since June 1991. The broader Topix gained 1.68% to 1,731.81.
Between February 18 and March 17, crude oil futures slipped 42 per cent, the Sensex 25 per cent, silver 25 per cent and gold 3 per cent.
The billionaire founder of Bridgewater Associates said in his video message to the Caixin Summit on Saturday that China’s development is making the country more competitive in luring global capital.
The first step of the negotiations at the World Trade Organization (WTO), India said, is to create a level playing field by getting rid of the aggregate measurement of support (AMS) or trade-distorting farm subsidies given by the developed countries.
Silver also gained Rs 161 to Rs 62,542 per kg, compared with Rs 62,381 per kg on Thursday, according to HDFC Securities.
We need to have more of such broader bull markets rather than the same old five or four sector rotation, says Shankar Sharma
After the STOXX 600 saw its biggest daily gain in almost two weeks on Monday, the bullish mood continued throughout the New York and Asian sessions.
E-mini futures for the S&P 500 jumped more than 1.5% on Monday while Nasdaq futures rallied over 2%, signalling a positive start for U.S. markets.
At the interbank forex market, the domestic unit opened at 74.35 against the US dollar and saw an intra-day high of 74.25 and a low of 74.41. It finally closed at 74.36, registering a rise of 40 paise over its previous close.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, earlier touching the highest since March 9.
Investors had initially wagered that a possible Democratic sweep by Joe Biden could ease political risk while promising a huge boost to fiscal stimulus, hitting the safe-haven dollar and bonds.
After a cautious start Asian markets were led higher by China on signs parts of the domestic economy were picking up. Hong Kong managed to rally 3.6%, while Chinese blue chips put on 2.2%.
The MSCI Asia Pacific Index has beaten the MSCI All-Country World Index by the most since 2008, thanks to a rally in Chinese technology stocks such as Tencent Holdings Ltd. and Alibaba Group Holding Ltd.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.5%.
Global equity markets have surged around 30% since hitting a low in early March, driven largely by policy stimulus.
Ajit Mishra of Religare Broking said, the traders should remain cautious as there is high uncertainty in global markets due to the recent surge in Covid cases.
Arun Kumar shares how he made time for hobbies despite a demanding schedule.
Coronavirus or COVID-19 has spooked not just the Indian stock market but global stock markets as well. ET wealth studies the impact of the pandemic virus.
While the sector has grown at 10% for the past decade, the industry in India was overshadowed by China, which sprinted to capture 35% of the global market in production and 25% of the global market in consumption.
"We are now past the time for a stimulus agreement in the United States. This now means that nothing will be forthcoming until, say, February 2021," said Brad Smoling, managing director at Smoling Stockbroking.
The company filed draft papers in July and obtained Sebi's observation on October 19 to float an IPO, an update with the capital markets showed on Monday.
Experts predict a safe and effective vaccine could take 12 to 18 months to develop.
“A crisis is a time when a company’s sense of purpose and values are tested. At such a time, employees and customers look for authentic leadership that is empathetic, transparent, honest and committed to a higher purpose,” Kumar told ET.
The pandemic has "peaked out" world over and the recovery is recognisable globally and in India too says Hildegard Wortmann, Member of the Board of Management at AUDI AG. Despite the small size, she says the future growth potential in India is very strong and the new product action will continue with three new offerings in the coming five months to capitalize on festivities.
"The path ahead is both highly uncertain and subject to significant downside risks," Powell said in a webcast speech.
Investors, many facing steep losses due to the pandemic-driven shakeout in assets over the past few months, have also had to contend with renewed U.S.-China trade tensions.
MSCI's broadest index of Asia Pacific shares outside of Japan stumbled more than 1%, snapping two straight sessions of gains.
There is a tendency among investors to concentrate on the direct short-term effects.
Chandan Taparia of Motilal Oswal said, the index has to continue to hold above the 11,900 level to witness an up move towards 12,100.
With e-commerce driving consumption in Covid times, digital advertising spends are likely to see a significant uptick this festive season.
Renewable energy is increasingly attracting interest of prominent business leaders. Gautam Adani recently announced plans to invest heavily in the sector to become the world’s biggest renewable energy company, while Mukesh Ambani told his shareholders on Wednesday that Reliance Industries will invest in solar, wind, hydrogen and other clean technologies, and make the company carbon-neutral in 15 years.
Since hitting an all-time low relative to the S&P 500 on Sept. 2, the MSCI Asia Pacific Index has outperformed the U.S. benchmark by almost five percentage points.
With all eyes glued on an EU meeting later in the day to discuss the measures, investors swept aside horrible data from the euro zone that showed economies have suffered massive blows.
After contracting for six months in a row, the country's exports grew by 5.27 per cent to USD 27.4 billion in September.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.15%, inching closer to its Aug. 31 peak, which was its highest level since March 2018. China's CSI300 index gained 1.68% after the Golden Week holidays.
"Spot gold prices for 24 karat in Delhi were up by Rs 82 on strong international gold prices," HDFC Securities Senior Analyst (Commodities) Tapan Patel said.