India's largest asset manager suggests issuing short-term government securities to handle potential bond inflows. Majority of respondents do not expect an announcement on MSS bonds in the upcoming budget.
India's car market is projected to reach 20 million units by 2047, driven by the growth of electric vehicles. Suzuki aims for a 50% market share by 2030 with plans to introduce their first EV in India and Europe. The competition in the EV segment is intensifying, with a focus on developing new battery technology for everyday use models. Collaboration with Toyota is expected to enhance product development. Additionally, Suzuki sees potential in compressed natural gas cars in India.
Potential insolvency is a dramatic turn of events for an entrepreneur described by one person who has worked with him as an extremely passionate and goal-oriented person who might adopt "an abrasive approach" in a crisis.
Mid cap stocks getting back into momentum mode
Congress general secretary Jairam Ramesh posted an office memorandum claimed to be issued by the Ministry of Personnel, Public Grievances, and Pension, pertaining to the "participation of government servants in the activities of the RSS".
Gold prices rise slightly as dollar softens and market awaits U.S. interest rate decision. Investors eye economic data for clues on Federal Reserve's next moves. Asian gold demand remains subdued despite discounts. Political news: Biden steps down, endorses Kamala Harris.
Oil prices rise as investors await rate cuts, with Brent crude reaching $83.10 a barrel. President Biden withdraws from the race, endorsing Kamala Harris. China's 4.7% economic growth in Q2 impacts oil demand. Updates expected on Fed's interest rate decision and China's economic plans.
Excluding Big Tech, stocks rally on rate cut hopes. The equal-weighted S&P 500 recently outpaced. Optimism grows as Nasdaq 100 declines. Todd Sohn sees neglected stocks surging as Nvidia to Microsoft pauses. Investors note rising trends despite Wall Street's top-heavy S&P concerns, recording gains earlier this year, despite the worst weeks since April amid faith in Fed easing.
Biden's campaign was planning fundraisers and events and setting up travel over the next few weeks. But even as Biden was publicly dug in and insisting he was staying in the race, he was quietly reflecting on the disaster of the past few weeks, on the past three years of his presidency and on the scope of his half-century career in politics.
Foreign investors are increasingly favoring India's discretionary consumption and capital expenditure sectors, with a significant rise in equity allocations. Sectors like capital goods, auto, and telecom are attracting substantial investments, offsetting outflows from other sectors like financial services and FMCG.
RBI takes measures to manage liquidity as foreign inflows increase post JP Morgan index inclusion. Actions include selling government bonds and conducting sell-buy swaps in the forwards market. These steps aim to control rupee appreciation and excess liquidity in the banking system.
Investors on Dalal Street are concerned about regulatory risks as authorities discuss curbing speculative trading. With the budget approaching, there is debate over potential tax changes on equities. Market shows mild signs of worry, but experts suggest a relief rally if current tax structure remains unchanged.
In a post on X, Biden stated, "It has been -- and remains --the honor of my life to work for @POTUS for the past twenty-two years. He has restored US leadership around the world and delivered historic accomplishments as President. I look forward to building on that record with him over the next six months."
Mutual fund managers have slowed down equity purchases in India in July due to caution before the budget and rich valuations. Despite record inflows, they are waiting for policy clarity. Foreign investors continue to pump money into Indian stocks, making it a key factor in the market.
Stock market analysts foresee potential volatility before the Union Budget, with Nifty expected to consolidate or face a deep correction. Traders advised to be cautious and maintain strict stop-loss strategies. Investors suggested to watch market movements closely and consider booking profits in specific stocks.
The People's Bank of China said it would cut the seven-day reverse repo rate to 1.7% from 1.8%, and would also improve the mechanism of open market operations. Chinese bond yields fell across the board after the rate cut announcement.
The first-quarter results season shows double-digit revenue growth, but profit growth slows down. Banks and finance companies lead the way with strong performances. Stay updated as more companies announce their results in the coming weeks.
Happy Monday! Amazon wants to catch up in the quick commerce race. We have a Monday AM scoop on the latest from the US ecommerce major in today's ETtech Morning Dispatch.
Though Biden's endorsement almost seals Harris' position as the presidential nominee of her party, she still needs to get elected by the party's delegates during the Democratic National Convention in Chicago next month. Biden has 3,896 delegates in his kitty, as against 1,976 required to win the nomination.
Domestic markets see profit booking and global selloff. Nifty indicates a negative start. Oil prices rise on rate-cut expectations. Dollar declines post Biden's announcement. Rupee hits all-time low. Watch out for Budget and Q1 results next week.
Profit booking causes dip in equity indices after rally. IDBI Bank, Suzlon Energy, RIL, HDFC Bank, Kotak Mahindra Bank, and JSW Steel in focus. RIL's profit down 5%. Major updates from YES Bank, Vedanta, JK Cement, HDFC Life, Patanjali Foods, Zaggle Prepaid, Jubilant Pharmova, EMS JV. Kotak Mahindra Bank posts Rs 6,250 crore profit.
Biden's endorsement of Harris and China’s central bank rate cut caused the dollar to slip and Asian stocks to fall. The US dollar fell 0.2%, the Mexican peso climbed. Stocks in Japan and South Korea dropped. PBOC's reverse repo rate was lowered to 1.7%. Oil and gold prices increased. Focus points include Europe’s economic data, US growth, and corporate earnings.
KOTAK EQUITY OPPORTUNITIES: Its biggest positions are in large caps, while the mid-cap exposure is mostly towards the mid- and tailend of the portfolio. The preference is for companies that have the ability to generate consistent cash flows, have a proven business model with efficient management, and are available at a reasonable price.
