SBI raises fixed deposit rate on select short-term maturity up to 75 bps
For term deposits of 46-179 days, the rate has been increased by 75 basis points to 5.5 per cent, as against the earlier 4.75 per cent. The country's biggest... Key Points
The Tribune IndiaETMarkets Fund Manager Talk: This Rs 8600 crore manager sees opportunities in 3 sectors to bet on domestic
V Srivatsa of UTI Asset Management discusses investment opportunities in domestic themes like private sector banking, auto sector, and healthcare. He emphasizes intact growth and reasonable valuations, especially in the current market scenario. He says: The large and midcap fund has given 45% return on one-year and 22.5% return on 3-year basis. It has underperformed the benchmark by 17 bps on a one-year basis, but outperformed the benchmark by 37 bps on a 3-year basis. Key Points
Economic TimesAsian shares rally on US tech bounce, payrolls in focus
By Stella Qiu SYDNEY (Reuters) -Asian shares were buoyed by a late bounce in U.S. tech on Friday as results from Meta and Amazon beat expectations, while investors are bracing for U.S. jobs figures, Key Points
ThePrintHow will the midcaps and smallcaps fare this week? Shibani Sircar Kurian answers
“At least in the near term, largecaps are better placed than midcaps and smallcaps. While on a longer term basis, of course, there are many industries where being present in mid and smallcaps is possibly the only way to play the overall India growth story, but in the near term, valuations are stretched on a relative as well as absolute basis.” Key Points
Economic TimesSpanish banks perform better in EU stress test than in 2021, El Confidencial says
Spanish banks, such as Santander (SAN.MC) and BBVA (BBVA.MC), performed better in European stress tests with a lower capital depletion than two years ago, except for Bankinter (BKT.MC), news website El Confidencial said on Wednesday, citing provisional data. Key Points
ReutersAsia shares subdued for BOJ meeting, US inflation test
By Wayne Cole SYDNEY (Reuters) -Asia stocks slipped on Monday in a subdued start to a week where Japan's central bank might edge further away from its uber-easy policies, while a key reading on U.S. Key Points
ThePrintAsia shares slip into BOJ meeting, US inflation test
By Wayne Cole SYDNEY (Reuters) -Asia stocks slipped on Monday in a subdued start to a week where Japan's central bank might edge further away from its uber-easy policies, while a key reading on U.S. Key Points
ThePrintAsia shares brace for BOJ meeting, US inflation test
By Wayne Cole SYDNEY (Reuters) - Asia stocks got off to a cautious start on Monday in a week where Japan's central bank might edge further away from its uber-easy policies, while a key reading on U.S. Key Points
ThePrintAsia shares start Dec on cautious note, oil nurses losses
By Stella Qiu SYDNEY (Reuters) - Asian sharemarkets started the last month of the year on a cautious note after recent strong gains, though growing expectations Europe and the U.S. are poised to cut Key Points
ThePrintAsia stocks on edge for earnings, China data
Markets have also seen a mood shift on the outlook for U.S. interest rates, with futures implying an 80% chance the Federal Reserve will hike by a quarter point to 5.0-5.25% in May. Key Points
Financialexpress
Asia stocks edge up, China sets lower bar on growth
International Business News: Chinese blue chips slipped 0.9%, having gained 1.7% last week. MSCI's broadest index of Asia-Pacific shares outside Japan was still up 0.2%. Key Points
Times Of IndiaAsian shares track US futures higher, bonds hold gains
By Stella Qiu SYDNEY (Reuters) - Asian shares tracked Wall Street futures higher on Friday as Amazon provided some welcome earnings relief, while bonds were able to sustain a rally amid signs U.S. Key Points
ThePrintAsian shares stumble as traders sweat on Fed rates
Gold prices steadied on Thursday following a 1% drop in the previous session, with spot gold up 0.3% at $1,945.89 an ounce. Key Points
FinancialexpressPakistan central bank raises key rate 100bps to record 21%
The key rate of the State Bank of Pakistan (SBP) now stands at 21%, its highest level ever, with consumer price inflation at its highest level recorded to date. Investors polled by Reuters had mostly expected a rate hike of 200 basis points. Key Points
Economic TimesWipro Q4 Results: Profit dips to Rs 3,074 crore; co pegs Q1 IT service revenue growth at -1% to -3%
The Board approved buyback of equity shares, subject to the approval of shareholders, for purchase by the company of up to 26,96,62,921 equity shares of Rs 2 each (being 4.91% of total number of equity shares) from the shareholders of the Company on a proportionate basis by way of a tender offer, the company said in a filing. Key Points
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AXA's nine-month sales match expectations, 2023 target on track
AXA (AXAF.PA), Europe's second-biggest insurance company, posted nine-month sales that met analyst expectations on Thursday, driven by higher premiums at its property and casualty division. Key Points
ReutersRBI Monetary Policy Highlights: MPC Keeps Repo Rate Unchanged, Ready To Act When Needed
India's Monetary Policy Committee keeps the benchmark repo rate unchanged at 6.5% in a unanimous decision. Key Points
BQ PrimeAsia weathers Fed fallout, bonds still banking on rate cuts
By Wayne Cole SYDNEY (Reuters) -Asian shares steadied on Thursday as Chinese stocks eked out rare gains, while investors stuck to bets for sizable cuts in U.S. interest rates this year even if the Key Points
ThePrintAsian shares race to four-month peak as Fed pivot rally rolls on
By Stella Qiu SYDNEY (Reuters) -Asian shares jumped to a four-month peak on Friday as sharp declines in the dollar and U.S. yields extended a Federal Reserve-fuelled rally, but pushback on rate cuts Key Points
ThePrintAsian shares hit three-month peak as Fed pivot rally rolls on
By Stella Qiu SYDNEY (Reuters) - Asian shares hit a three-month peak on Friday as sharp declines in the dollar and U.S. yields extended the Fed-fuelled rally, but pushback on rate cuts from central Key Points
ThePrint
Asian shares rise on debt bill progress, Fed pause hopes
The U.S. Senate is on track to pass a bill to lift the government's $31.4 trillion debt ceiling late on Thursday in Washington, Democratic Majority Leader Chuck Schumer said, after the House of Representatives passed the bill on Wednesday. Key Points
FinancialexpressAsian shares subdued as jobs data raises odds of Fed rate hike
MSCI's broadest index of Asia-Pacific shares outside Japan was 0.14% higher, while Japan's Nikkei gained 0.5%. Australian, Hong Kong and European markets are closed for Easter. E-mini futures for the S&P 500 were flat. Key Points
FinancialexpressAsia bond traders have reasons to stay calm despite hawkish Fed
Relative to EM regions in Europe, the Middle East, Africa and Latin America, Asian notes have displayed lower sensitivity to Treasury yield moves due to generally more robust fundamentals. Proximity to Chinas economy, the worlds second biggest, also helps reduce the impact in the region from US developments. Key Points
Economic TimesAsia stocks hesitant, dollar firms as US payrolls dent Fed rate cut wagers
By Ankur Banerjee SINGAPORE (Reuters) - Asian shares started the week on a subdued note on Monday, while the dollar firmed as investors weighed when the U.S. Federal Reserve will start cutting rates Key Points
ThePrintHow much positivity in IT stocks is already priced in? Apurva Prasad answers
Apurva Prasad says s that the IT pack has experienced a positive movement in the last two months. However, he believes that a significant portion of the improved outlook is already priced into the market, with PE multiples increasing by 20-25%. Prasad emphasizes the importance of operational performance and highlights that many companies, including larger ones, have the potential for margin improvement. Key Points
Economic Times
Indian firms' funding costs from FPIs to rise by up to 40 bps -JPM
Changes to India's withholding tax regime will increase borrowing costs for Indian companies raising money from foreign investors by about 30 to 40 basis points, analysts at J.P.Morgan said on Thursday. Key Points
ReutersGovt bond yields hit 3-week high at 7.16% on US rate concerns
Yield on the 10-year benchmark bond settled at 7.16% on Friday, four basis points higher than its previous close and the highest closing level since July 7, Bloomberg data showed. Bond prices and yields move inversely. One basis point is 0.01 percentage point. Key Points
Economic TimesHDFC Q4 Results: Profit Rises 20% On Higher Core Income
Gross non-performing asset ratio for the lender fell by 31 basis points sequentially from 1.49% to 1.18%. Key Points
BQ PrimeRBI may hike benchmark lending rates by 25 bps in April policy: DBS Research
In an online session on 'Growth resilience and sticky inflation', DBS Group Research Executive Director & Senior Economist Radhika Rao said the RBI may hike interest rates by 25 basis points in April and maintain a hawkish bias as retail inflation is still high. Retail inflation in January spiked to 6.52 per cent against 5.72 per cent in December last year. Key Points
Economic TimesAsia stocks sit on weekly gains as yields, oil fall
By Wayne Cole SYDNEY (Reuters) - Asian shares took a breather on Friday as a batch of softer U.S. economic data took some of the steam out of Wall Street, but also boosted bonds in a big way while Key Points
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PayPal allays growth fears after raising annual profit forecast
PayPal Holdings (PYPL.O) raised its forecast for full-year adjusted profit above Wall Street estimates on Wednesday, with executives striking an optimistic tone for the payments giant's long-term growth strategy. Key Points
ReutersRBI to raise rates once more on April 6, stay on pause mode thereafter: Poll
The Reserve Bank of India (RBI) is expected to raise its main interest rate by 25 basis points on 6 April, and then pause for the rest of the year, according to economists. Inflation in India has been above the central bank's upper limit of 6% for two consecutive months, and that is expected to be the main cause of the next rate rise. Of the 62 economists polled, 49 predicted a rise in the repo rate to 6.75% at the meeting next week. Key Points
Economic TimesQuota order on hold, Karnataka tells Supreme Court backward Muslims not hit
Taking up the plea on April 12, the court had said that a reading of the GO “appears to suggest that prima facie... the foundation of its decision-making process is highly shaky and flawed”. Key Points
The Indian ExpressET Poll: RBI may pause rate action with 25 bps hike this week
Nine of 10 economists polled by ET ahead of Thursday's policy announcement expect a 25-bps increase. This week's rate action is expected to be followed by a prolonged pause, with some respondents anticipating no further rate action for the remainder of FY24. Key Points
Economic TimesStocks, dollar slip ahead of Fed decision on rates
By Herbert Lash and Tom Wilson NEW YORK/LONDON (Reuters) -World shares slipped on Wednesday, pulled lower by a slide on Wall Street, while Treasury prices rose as investors deemed the U.S. economy was Key Points
ThePrint
Indian state banks to snap two-month streak of selling govt debt: Traders
These banks, typically the biggest buyers of government debt, have sold bonds worth Rs 14,380 crore ($1.73 billion) on a net basis so far in December, following sales of Rs 8,840 crore in November, clearing house data showed. Key Points
Economic TimesLow export demand and sluggish rural consumption to dampen tea realisations for North India estates, says
The all-India production of bulk teas in the first 10 months of CY2023moderated by 22 Mkg (~2%) on a YoY basis and ICRA expects the full-year production to ease by ~1% compared to CY2022. Tea output in Kenya is likely to increase in CY2023 over the previous year, given that their production in 8M CY2023 is already up by ~7% on a YoY basis. Key Points
Economic TimesKim Kardashian responds to those who humiliate mothers after discussing the difficulties of parenthood
The multibillionaire and mother of four discusses what she faces on a day-to-day basis after talking about the struggles of being a single mom on Jay Shetty's podcast. She says I am still learning every day how to be a good mother on the podcast. She is co-parents with her ex-husband Kanye West. Key Points
Economic TimesStates' borrowing cost soars to 23-week high of 7.56%
The borrowing cost for Indian states has increased by 10 basis points to 7.56% at the first weekly debt auction of the third quarter. This is the highest rate in the past 23 weeks. Despite a decline in the average tenor to 13 years, the weighted average cost has risen. Additionally, the spread between the cut-off of 10-year state bonds and the new 10-year G-Secs yield has also increased slightly. Key Points
Economic TimesWall St and oil dive as investors fret over rates, China
By Pete Schroeder WASHINGTON (Reuters) -U.S. stocks fell Tuesday, and oil slid over 1% as investors found fresh concerns over whether the Federal Reserve was done hiking interest rates and the Key Points
ThePrintWall St slips, yields jump as US retail spending persists
By Dhara Ranasinghe and Pete Schroeder LONDON/WASHINGTON (Reuters) - U.S. stocks opened lower Tuesday while government bond yields remained higher, as stronger-than-expected U.S. retail sales data Key Points
ThePrintIT firms eye fixed price projects to improve margins
Fixed-price projects allow better cost control and a greater ability to introduce automation in projects and expand margins. By contrast, ‘time and material control are directly linked to the number of people hard-locked to billable projects. Key Points
Economic TimesAsian shares rise, dollar dips as traders await US inflation data
Asian shares nudged higher and the dollar was at a two-month low on Wednesday ahead of crucial U.S. inflation data that will help gauge whether the Federal Reserve is at the end of its aggressive rate hike policy. Key Points
ReutersBoard of Vedanta approves NCDs worth up to ₹2,100 Cr
The board of Vedanta Ltd. authorised the issuing of non-convertible debentures (NCDs) worth up to Rs. 2,100 crore on Thursday on a private placement basis. Key Points
mintU.S. yields rise as jobs data points to Fed rate hike
Data for February was revised higher to show 326,000 jobs were added instead of 311,000 as previously reported. The unemployment rate dipped to 3.5% from 3.6% in the prior month. Key Points
Business Today
Axis Bank sees final rate hike in April
The RBI has raised its benchmark repo rate cumulatively by 250 basis points to 6.50% since the beginning of the rate hike cycle in May 2022. Key Points
FinancialexpressStocks gain, US treasury yields rise as banking fear eases
MSCI's broadest index of Asia-Pacific shares outside Japan edged up 0.3% by early morning Hong Kong time. U.S. stock futures, the S&P 500 e-minis, were up 0.21%. Key Points
FinancialexpressAsian shares falter on banking concerns, bonds bet on last rate hikes
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.6%% on Friday, erasing some of the recent gains to be up 1.7% for the week. Key Points
FinancialexpressWe are overweight on 3 sectors; largecaps attractive but opportunities in mid and smallcaps too: Karthik K
The market is experiencing stock specific movements, leading to uncertainty for investors. It is a time of indecision, as investors are unsure whether to enter the market or book profits. The current market movement can be seen as a healthy correction following a strong 2023. Additionally, the January to March quarter historically has negative returns. Key Points
Economic TimesBank clients can cheer, FDs set to pay higher for longer
Last week, State Bank of India (SBI) hiked its fixed deposit (FD) rates in select tenures by 25 to 50 basis points. The bank is also offering a special 7.10% deposit for a tenure of 400 days which is valid till March 31, 2024. One basis point is 0.01 percentage point. Key Points
Economic Times
RBI keeps key repo rate unchanged at 6.5%, expects robust growth but inflation above 4% target
Repo rate was raised by 250 basis points between May 2022 and February 2023. Robust growth to provide space for monetary policy to remain focused on bringing inflation down to 4% target. Key Points
ThePrintGlobal stocks retreat, Treasury yields rise as rate cut optimism fades
By Herbert Lash and Elizabeth Howcroft NEW YORK/LONDON (Reuters) -Stocks on Wall Street and in Europe fell on Tuesday, along with prices for U.S. and other government debt, as market optimism that the Key Points
ThePrintShort term rates hit 8% on tight liquidity
Yield on 12-month CP jumped by 13 basis points to 8.1% as on 5 December as compared to 7.97% as on 15 November Key Points
mintDollar hovers near two-week lows ahead of inflation data
SINGAPORE (Reuters) - The dollar was rooted near a two-week low on Thursday following minutes from the last U.S. Federal Reserve meeting that showed policymakers taking a cautious stance and as Key Points
ThePrintInfosys ADRs slump 11% after drastic cut in FY24 revenue guidance
The Bengaluru-based software major has reported 11% year-on-year growth in net profit at Rs 5,945 crore for the quarter ended June. The profit is lower than the ET Now Poll estimate of 6,150 crore. Infosys earnings remained muted on a sequential basis in the June quarter, given a significant slowdown in business amid global macroeconomic headwinds. Key Points
Economic Times
Global markets update: US stocks end mixed after Fed signals more rate hikes
The Dow Jones dropped 232.79 points, to 33,979.33. The broad-based S&P 500 rose 3.58% at 4,372.59, while the tech-rich Nasdaq climbed 0.4% to 13,626.48. Key Points
mint