Time to accumulate IT stocks on dips; buy these 3 PSUs on dips: Dharmesh Shah
Dharmesh Shah, Head-Technical at ICICI Direct, suggests viewing PSU corrections positively as buying opportunities. He also anticipates that Nifty momentum will sustain and has a positive outlook on Nifty auto index and Maruti. He further recommends accumulation in the IT sector for medium-term gains as he expects a gradual recovery in the IT index. Key Points
Economic TimesDomestic household savings needs to increase to finance pvt capital formation in economy: Finance Ministry
India needs to bolster domestic household savings to support private sector capital formation, as per the Finance Ministry's Monthly Economic Review. The report anticipates a better current account balance in the ongoing fiscal year due to a reduced merchandise trade deficit and increased net services receipts. However, concerns persist regarding the current account deficit in FY25. Key Points
Economic TimesWhat is AMOC & why scientists are alarmed by this crucial ocean current nearing tipping point
New study shows AMOC, which drives crucial climate & weather patterns, could collapse within this century. Scientists fear this could precipitate devastating climate events. Key Points
ThePrint'Indian stock market outperforms the global market, makes for attractive investment'
MSCI 1-month’s return is 8.0% compared to MSCI World’s 5.2%, 1Yr is 12% vs 13.8%, respectively. Key Points
mintMint Explainer: What the widening current-account deficit means for the economy
The current account deficit widened to $9.2 billion or 1.1% of GDP in the April-June quarter and is expected to widen further in the coming months Key Points
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RBI to prolong pause, probability of hike small, says ICICI Securities Primary Dealership CEO
ICICI Securities Primary Dealership CEO Shailendra Jhingan believes the Reserve Bank of India (RBI) should ignore the increase in US Treasury yields and instead focus on inflation, with particular attention on food prices. If the Consumer Price Index (CPI), minus vegetables, remains at current levels of 5.2%, Jhingan thinks rates are at the correct level. He also said the market was likely to hold its current policy with a 15-20% chance of a rate hike occurring over the next year. Jhingan advised investors to consider the 10-year and upward part of the government bond yield curve. Key Points
Economic TimesIndia’s low current-account deficit may not be good news
News reports have tended to describe the shrinking of the deficit to 0.2% of GDP in Jan-March as a welcome development. Here’s why that's not the case Key Points
mintIndia may have achieved current account surplus, say experts
India's current account balance likely moved to a surplus in the quarter ending March, thanks to a weakening of commodity prices, rising remittances, and strong services exports. It's the country's first such surplus in six quarters and has been attributed to a shrinking of India's external financing needs, with Barclays' Rahul Bajoria suggesting a Q4 surplus and India Ratings and Research (Ind-Ra) forecasting a current account surplus of $6bn, or 0.7% of the GDP. Experts believe the surplus will continue into this quarter, thanks in part to buoyant services exports. Key Points
Economic TimesTop Adani stocks may appreciate by 15-20% from current levels: Deven Choksey
A Sebi inquiry on the Adani Group has left investors watchful of Adani Enterprises. KRChoksey Holdings' Deven Choksey is confident about the firm's current valuations and believes it may appreciate from current levels by 15% to 20%. However, Choksey said he would like to remain cautious, as apart from the foreign portfolio investors, no big investors from the domestic turf have invested in the company. Key Points
Economic TimesPakistan's current account deficit falls to $0.2 billion in January
Pakistan economic crisis: During the first seven months of the current fiscal year, the country’s current account deficit decreased by 67% to $3.8 billion. | World News Key Points
Hindustan Times
Realty my top bet sector; 3 stocks to buy: CA Rudramurthy
“I will be a buyer at the current market price on every dip. FIIs are now still short in the market. They are yet to cover their short and they will start covering. DIIs will continue buying this market and if FIIs start buying this market and crude further comes down $10 from here, bond yield topping, interest rates topping, this market has a lot of legs to go on.” Key Points
Economic TimesConsumer confidence remains on recovery path: RBI survey
The current situation index rose by 2.2 points to 87 from 84.8 on account of improved perception on general economic situation, employment, and household income. Key Points
FinancialexpressGlobal turmoil may restrict domestic impact, say economists
Global spillovers in 2024 can create volatility but the runaway depreciation of the Rupee may not happen as narrowing deficit have made the currency resilient. The Reserve Bank is also equipped with a strong armoury of foreign exchange reserves of over $ 600 billion to defend the rupee compared to $292 billion in 2012-13 adding to the market perception that RBi is being extra vigilant. Key Points
Economic TimesGoldman Sachs cuts India's CAD forecast, sees improving external balances
Goldman Sachs has revised India's 2024 current account deficit projection to 1.3% of GDP from 1.9%. Optimistic about external balances, the bank expects services exports to perform well, forecasts lower crude oil prices at $81 per barrel, and foresees strong capital flows with potential inclusion in the JP Morgan bond index. Key Points
Economic TimesWorld Bank revises India’s growth forecast downward to 6.3% in FY24
Slower consumption growth and challenging external conditions will lead to Indias growth slowing down to 6.3% in 2023-24, according to the World Bank, but the growth will remain resilient to external shocks. The World Bank revised its growth forecast downwards for the current year from 6.6% to 6.3% Key Points
Economic Times
India's no longer 'fragile', can weather global market volatility
In the face of global financial market turbulence, India's rupee appears more resilient due to a narrowed current account deficit (CAD) and bolstered forex reserves. Increased exports post-pandemic buffered the CAD, keeping it manageable at 2% in FY23 despite soaring commodity prices. Forex reserves, standing at over $600 billion, fortify the RBI's ability to stabilize the rupee, marking a significant contrast to a decade ago when India was tagged among the 'Fragile Five' economies. Forecasts project a reduced CAD and stable rupee for the upcoming fiscal years. Key Points
Economic TimesCAD declines sharply to 1 pc of GDP in Jul-Sep quarter
Mumbai, Dec 26 (PTI) India’s current account deficit declined sharply to 1 per cent of the GDP or USD 8.3 billion in the second quarter of this financial year, mainly due to lower merchandise trade deficit and growth in services exports, according to a RBI data released on Tuesday. The current account deficit (CAD) was […] Key Points
ThePrintIndia’s GDP growth to fall to 6.2% in FY24: Goldman Sachs
Says political uncertainty in election year main risk. India is likely to record a GDP growth of 6.2% in the current fiscal (2023-24), which will increase to 6.5% in the next 2024-25 fiscal, said American brokerage Goldman Sachs on Monday. Its expectation for the current fiscal is in line with the projections made by other credit rating agencies and mul Key Points
The Tribune Indiacurrent account deficit manageable: RBI Governor Das
Indias services exports continued to grow at a healthy pace in the first two months of 2023. “Better growth prospects of the gulf cooperation council (GCC) countries are expected to keep remittances robust” RBI governor Das said. Inward remittances which is major source of strong positive flows in the current account- touched an all-time high of $ 107.5 billion during calendar year 2022. Key Points
Economic TimesBiden meets Qatar counterpart Emir, discusses Gaza hostages & boosting aid to the war zone
Qatar and Egypt were mediators between Israel and militant group Hamas in the late November truce. current diplomatic efforts on a new truce have yielded little public progress so far. Key Points
ThePrintIndia's current account deficit narrows in July-September: RBI
New Delhi [India], December 26 (ANI): India’s current account deficit narrowed to USD 8.3 billion in the second quarter of the financial year 2023-24, lower than USD 9.2 billion it recorded in the preceding quarter. A current account deficit is when a country’s total value of imports exceeds the total value of exports. The CAD […] Key Points
ThePrintRupee weighs moderation in current account deficit, higher US yields
The Indian rupee is likely to open little changed to the U.S. dollar on Wednesday amid a moderation in the current account deficit (CAD) and an uptick in U.S. yields. Key Points
ReutersTata Motors demerger: Should you add or just hold on? Gurmeet Chadha answers
Gurmeet Chadha suggests Tata Motors could tap into the current upside, but long-term value will come from the PV and EV businesses. The Zee story faces confidence issues and needs a strong partner. Responsible growth is essential in the gold loan space. Bajaj Finance is a promising player in the consumption trend. Key Points
Economic TimesUS may hike immigration fee by 2050% for H1B workers,green cards to get costlier
Immigration to the US is all set to become costlier with a possible immigration fee hike by 2050% for H1B workers along with the increased cost of green card applications. Read more below. Key Points
Hindustan TimesGoldman Sachs revises India's current account deficit forecast to 1.3% from 1.9% of GDP
Goldman Sachs says in 2024, a reduction in India's current account deficit can be attributable to a 0.7% reduction in oil trade deficit, 0.2% increase in services trade surplus, 0.2% increase in non-oil trade deficit and 0.1% reduction in primary income Key Points
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Woman electrocuted to death while singing on mic at wedding in Bihar's Samastipur
In the midst of the celebrations, Meena Devi started singing on a microphone. Suddenly, the microphone malfunctioned and a current surged through it, electrocuting her. Key Points
India TodayShrinking current account gap provides a reprieve for rupee
Barclays expects the improving external sector fundamentals and relatively cheap valuations to help the rupee rally later as the dollar weakens. But most remain cautious amid global volatility and the Reserve Bank of Indias aim to build back reserves at every opportunity. Key Points
Economic TimesRBI MPC Meet: Will RBI to keep repo rate unchanged at 6.50%? 5 points to note
The current repo rate is 6.50%, which was last updated on February 8, 2023. Since then the RBI decided to keep the rate unchanged. The last time the repo rate was changed from 6.25% to 6.50% in February 2023. Key Points
Business TodayIMF reclassifies India's de facto exchange rate regime from 'floating' to 'stabilised arrangement'
The IMF also projected India’s economy will grow at 6.3% in both the current fiscal year and the next, below the RBI’s forecast of 7% in the current year. Key Points
ThePrintWorld Bank lowers India's FY24 growth forecast to 6.3%
The World Bank revised its forecast for India's economic growth in the current fiscal year and lowered it to 6.3 per cent from 6.6 per cent. Key Points
India Today
India's CAD declines to 2.2% of GDP in Q3 on narrowing trade deficit
India's current account deficit declined to US$ 18.2 billion, or 2.2 per cent of GDP, in the third quarter of the ongoing fiscal on account of the narrowing merchandise trade deficit in Q2FY 23, coupled with robust services and private transfer receipts, RBI data showed on Friday. Key Points
Economic TimesOver 45 Nifty 500 stocks gained between 10% and 50% in Jan so far; Sobha, JBM Auto among top gainers – check full list
47 stocks of Nifty 500 index have experienced notable gains in January so far, with Network18 being the top gainer with a gain of 50%. Other stocks that have seen significant rallies include Sun Pharma Advanced Research, Sobha, JBM Auto, and Easy Trip Planners. Key Points
mintIs the Indian market priced to perfection after the recent rally? George Thomas answers
India remains in a favourable position from a global perspective due to strong domestic flows and a flourishing economy, says George Thomas, Associate Fund Manager at Quantum AMC. The country's current account deficit and macro parameters have significantly improved over the past year, which has provided stability to the Indian market despite the volatility of FII outflows. Thomas also sees opportunity in financials, auto and IT. Key Points
Economic TimesDecember quarter CAD narrows to 1.2 percent of GDP
“The current account deficit narrowed in Q4 despite a wider merchandise trade deficit, cushioned by a record high services trade surplus and secondary income” Rahul Bajoria, MD & Head of EM Asia (ex-China) Economics, Barclays. “ Positive FDI and FPI flows kept the BOP in surplus. We expect current account financing needs to remain manageable this fiscal year and next.” Key Points
Economic TimesMultibagger stock: Swan Energy delivered over 500% return in less than 3 years; up for 6th straight year
The company's shares, valued at ₹120 apiece in November 2021, have surged by 518% to reach the current price of ₹742 per share. A significant portion of this increase occurred over the past five months, with the stock rallying 160%. Key Points
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Are you saving enough for a carefree retired life?
India News: Learn how to save enough for a carefree retired life and maintain your current lifestyle. Get tips on building a retirement corpus, investing wisely, and managing inflation. Key Points
Times Of IndiaIndia's current account deficit narrows to 1% of GDP at $8.3 billion in July-September: RBI
The current account deficit was 3.8 per cent of GDP or $30.9 billion in July-September quarter in 2022-23, according to central bank data. Key Points
mintWhy Aditya Agarwala is recommending buy for these 2 NBFCs
“At current levels, one should look to go long on Mahindra & Mahindra Finance, look for a target of 315 on the upside, with a stop loss at 264 on the downside. The second stock is Piramal Enterprise, PEL. Again, as we speak, the stock is making new high but again at current levels, one can look to go long for a target of Rs 985 and if 985 is taken out.” Key Points
Economic TimesUS CDC is tracking a new lineage of the virus that causes COVID
The lineage is named BA.2.86, and has been detected in the United States, Denmark and Israel, the CDC said in a post on messaging platform X. Key Points
ThePrintIf consumer confidence is a political bellwether, are current levels enough to help BJP win 2024?
Neither the measure of current sentiments nor of future expectations of consumers has reached near March 2019 levels. Scores still to rise much above pre-Covid crackdown of March 2020. Key Points
ThePrint
Domestic GDP growth on firm footing, growth slightly revised upwards: SBI study
State Bank of India (SBI) reports that India's domestic GDP growth is robust due to increasing urban demand, however, lagging rural demand remains a concern. The lender has revised GDP growth upwards from 6.4% to 6.5% for the current financial year. Key Points
Economic TimesEY US to slash 5% of its workforce days after nixing split
The decision was taken after assessing the impact of current economic conditions, strong employee retention rates and overcapacity in parts of the company, EY U.S. said. Key Points
Economic TimesWorld Bank lowers India current fiscal year growth forecast to 6.3%
India Business News: The World Bank on Tuesday lowered its forecast for India's economic growth in the current fiscal year that started on April 1 to 6.3% from 6.6% as it Key Points
Times Of IndiaET Poll: CAD seen narrowing in FY24, but unlikely to dip below 2% of GDP
We see CAD easing from here on, led by incrementally improving trade deficit amid receding commodity prices, especially for oil, said Madhavi Arora, lead economist, Emkay Global. The solid services trade surplus will continue to strongly offset CAD, which will now likely amount to $85 billion in 2023-24. Key Points
Economic TimesElection results shot in arms for Govt, positive for market: Aamar Deo
Exit polls of the states and the current outcome appear to be in line, which is a shot in the arm for the central government. This is also positive for the markets. Overall, once we witness Bank Nifty hitting all-time highs, that is trading above the 46,370 mark, which is roughly 3% from current levels, we could see strengthening of the current rally. Nifty will run into resistance around the 20,550-20,650 mark whereas support is seen around the 20,000 mark. Key Points
Economic TimesIndia’s GDP will reach USD 5 trillion in 2026: Panagariya
Mumbai, Dec 15 (PTI) India will become the world’s third largest economy by 2026 as its GDP in current dollar terms will reach USD 5 trillion in that year and further rise to USD 5.5 trillion in 2027, former Niti Aayog Vice Chairman Arvind Panagariya said on Friday. Delivering the 18th C D Deshmukh Memorial […] Key Points
ThePrintBudget 2024: Rural employment guarantee scheme may get 47% boost with Rs 88,000 crore allocation
Budget News: The upcoming budget for FY2025 is expected to allocate Rs 88,000 crore for the rural employment guarantee scheme, marking a 47% boost from the current fiscal year. The government is responding to the surge in demand for employment and an increase in wage rates. Key Points
Times Of IndiaNet direct tax collection at Rs 10.64 lakh cr in Apr-Nov; 58.34 pc of BE
The net tax collection for April-November stood at Rs 10.64 lakh crore, which is 23.4 per cent higher than the corresponding period of last year, the Ministry of Finance said. Gross collections, before issuing refunds, grew 17.7 per cent to Rs 12.67 lakh crore in the April-November period. Refunds amounting to Rs 2.03 lakh crore issued from April to November of the current fiscal. Key Points
Economic TimesNational Pension Scheme: PFRDA plans to bring in systematic withdrawal plan
During the current fiscal, the NPS expects to enrol 1.3 million new subscribers from the non-government sector, against 1 million people in the year-ago period. Key Points
FinancialexpressIndia’s nuclear power capacity to increase by 70% in five years
The country's installed capacity is projected to rise from the current 7.48 GWe to 13.08 GWe by 2029, representing an addition of seven new reactors. Key Points
India Today
3 electrocuted in UP after current flows through sound system during wedding
At least three people were electrocuted in Uttar Pradesh's Kaushambi after an electric current passed through a DJ at a wedding ceremony. They were rushed to a hospital but succumbed to their injuries. Key Points
India TodayConsumer sentiments improve, household inflation expectations moderate: RBI's forward looking surveys
According to the survey conducted in January, CSI improved further to 95.1 in January from 92.2 in November 2023 Key Points
mint90% of the market overvalued except very largecap stocks: Sanjeev Prasad
Sanjeev Prasad says: “Probably 90% of the market is overvalued. While the very largecap names seem to be more reasonably valued, as we go down the market cap quality and risk curve, the extent of overvaluation keeps on increasing and you cannot even understand what is happening in some of the midcap and smallcap stocks.” Key Points
Economic TimesWHO classifies new Covid strain JN.1 as 'variant of interest', says its poses 'low risk'
The health organisation said the current vaccines will continue to protect against severe disease and death from JN.1 and other circulating variants of the COVID-19 virus. Key Points
ThePrintContraceptive pills may affect fear-regulating brain areas in women
California [US], November 7 (ANI): Oral contraceptives are used by more than 150 million women globally. The most prevalent variety is combined OCs (COCs), which are made comprised of synthetic hormones. Sex hormones have been shown to influence the brain network involved in fear processing. A Canadian team of researchers has now explored the current […] Key Points
ThePrint
Inflationary pressure is not strong, despite weather, says Sanjeev Sanyal
Despite recent spikes in vegetable prices and rising consumer prices, the underlying inflationary pressure in India is not strong, according to Sanjeev Sanyal, a member of the economic advisory council to Prime Minister Narendra Modi. He stressed the importance of consolidating fundamentals before pushing for higher growth, referencing the moderating current account deficit and robust foreign exchange reserves. Key Points
Economic Times