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Sensex Bear Case Target 22800; Nine Catalysts eyed: Morgan Stanley

According to Morgan Stanley, there is a 10% probability that the government’s policy response will be unenthusiastic and more significant, global conditions will worsen. In such a situation, Sensex earnings growth for the current year will be 10% and the index could go down to 22800 by May.       
 
Brokerage house Morgan Stanley sees these nine catalysts influencing market sentiment over the next six months. 
 

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LIVE: Sensex Under Pressure; Rapid Swings Keep Traders Edgy

The broader markets continued to see selling pressure as the BSE Midcap lost 0.6 percent and Smallcap declined 1.3 percent. About 608 shares have advanced against 1604 shares declined on the Bombay Stock Exchange.

After yesterday's mammoth fall in China (8.5 percent down), all of Asian (India fell 6 percent), European and US markets (Dow Jones sank 3.6 percent) sank. It looks to be another bad day for the markets today.

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Black Monday Wipes out Rs 7 Lakh Crore From Investors' Wealth

As the stock market saw a bloodbath, the investor wealth today crashed by over Rs 7 lakh crore in the biggest ever single-day loss, as a global rout caused jitters across the board.

Crashing below Rs 100 lakh crore mark, the total investor wealth measured in terms of the cumulative valuation of all listed stocks, stood at Rs 95,28,536 crore at the end of the day.

Though notional in nature, just top-20 companies accounted for more than 5 lakh crore of losses.

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PM Modi takes tour of Masdar City in Abu Dhabi

Prime Minister Narendra Modi took a tour of the Masdar City, a hub of cleantech and science and technology innovation.
 
During his nearly hour-long tour, the city authorities briefed the Prime Minister about various aspects of the Masdar City, situated around 17 kilometers southeast of the Emirati capital Abu Dhabi.
 
“Science is life,” Modi digitally wrote in the visitors’ book at Masdar City.
 

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Gold Struggles to Recover from 5 and half Year Low, but More Weakness Seen

  • Gold fell from 5th straight week, longest run since 2012.

Gold fell for a third session on Monday, trading not far above its lowest level since early 2010, with expectations of further losses in the metal as the Federal Reserve moves closer to raising interest rates.

The Fed will hold a policy meeting this week at which policymakers are likely to provide more signals pointing to a rate hike later in the year as the U.S. economy strengthens. 

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China Stocks hammered as Stock Market Crash Continues

China stocks trusted again on Wednesday, even as regulators worked to contain a crisis that has wiped trillions of dollars off the country's stock markets.

The Shanghai Composite plunged 8% at the market open on Wednesday, and spent the entire day in negative territory before closing down 5.9%. The huge majority of stocks listed on the benchmark index shed 10%, the maximum limit shares are allowed to fall before being halted.

The smaller Shenzhen Composite lost 2.5%, while Hong Kong's Hang Seng dropped 5.8%.

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India to Grow at 7.8 Percent in 2015 and beat China: Fitch Rating

India is expected to grow at 2.8 percent in 2015, beating China’s growth rate and more speed up to 8% and 8.1 percent in subsequent years, global rating agency Fitch said on Tuesday.

Along with the BRICS grouping, GDP growth will range from 7.8 percent in India to a short form of 3 percent in Russia and 1.5 percent in Brazil this year, said the Global Economic Outlook released by the Fitch Ratings.  

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PM, Modi starts Bangladesh tour with homage to 1971 martyrs

Prime Minister Narendra Modi began his historic two-day visit to Bangladesh by paying homage to the martyrs of the 1971 War of Liberation in which India had helped.

He also visited the Bangabandhu Memorial Museum dedicated to Bangladesh, founder Sheikh Mujibur Rahman.

As soon as he arrived here on the visit, Modi drove straight to 'Jatiyo Smriti Shoudho' (National Martyrs' Memorial) from airport to pay homage to the thousands who laid down their lives fighting for freedom from Pakistan.

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Reduction in Inflation Pave the Way for RBI to Cut Rates

The substantial reduction in inflation in last few months paves the way for RBI to cut repo rate in recent monetary policy review.

This is the third policy rate cut in last five months, where the central bank had cut the rates by 75 basis points cumulatively. In last few months, a number of banks like ICICI, SBI, Axis Bank and HDFC had reduced their landing rate in the range of 15 to 25 basis points for home loan so far.

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RBI Bi-monthly Credit Policy 2015-16: Live

The Reserve Bank of India has slashed the repo rate by 25 basis points, as was widely expected. Key ratios, such as the CRR and SLR, are unchanged. The repo rate is now 7.25 percent. Consequently, the reverse repo rate moves lower to 6.25 percent.

In the statement, central bank Chief Raghuram Rajan says the risks to inflation, given some challenge on the monsoon and the recent bounce back in crude prices, remain. The RBI has upped its inflation target for January 2016 at 6 percent, higher than its recent 5.8 percent forecast.

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