Market braces for familiar governance; Globalisation still intact, says Viswas Raghavan of Citigroup
Globalisation is too entrenched for the world to pull back from, said Viswas Raghavan, Head of Banking, Citigroup. The potential tariffs and the boost to local manufacturing could be the growth drivers for the US while geopolitics remains the biggest worry for the financial markets, he said in an interview with Shilpy Sinha. Edited excerpts….
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8 of top 10 most-valued firms lose nearly Rs 2 lakh crore in m-cap
Eight of the top-10 most valued firms together lost Rs 1,65,180.04 crore from market valuation in a holiday-shortened last week, with HDFC Bank and State Bank of India taking the hardest hit in line with a weak trend in equities. Last week, BSE benchmark Sensex fell by 1,906.01 or 2.39 per cent. Equity markets were…
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Not Just Guru Nanak Jayanti, BSE and NSE to remain shut for one more day in November
Indian stock exchanges BSE and NSE will remain closed for trading on Friday, November 15, on account of Guru Nanak Jayanti. This holiday will not be the only trading break in November. The exchanges will also remain shut on Wednesday, November 20, due to the Maharashtra Assembly General Elections. While BSE and NSE have declared…
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Wall St indexes end lower after Powell erodes hopes for December rate cut
Wall Street’s main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investors’ hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy. Powell said at a Dallas Fed event that with the economy still growing, the job market solid and…
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Wall Street turns to 2016, while stock market has to live in ‘24
A sense of déjà vu overwhelmed Wall Street this week, as Donald Trump’s election win gave the stock market a jolt similar to what happened after his victory eight years ago. Small caps soared, banks leaped and the S&P 500 Index had its best Election Day in history and strongest week in 12 months. The…
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Fed’s Barkin says price pressures may not fade as fast as expected
The U.S. central bank’s fight to return inflation to its 2% target may take longer than expected to complete and limit how far interest rates can be cut, Richmond Federal Reserve President Thomas Barkin said on Wednesday. In an interview with Reuters, Barkin said he supported the half-percentage-point rate cut the Fed approved last month…
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Trump, Harris angle to gain political edge from Fed rate cut
The Federal Reserve’s move to slash interest rates reverberated across the 2024 presidential race as Democrat Kamala Harris hailed the move as a boon for middle class families while Republican Donald Trump suggested the cut may have been politically motivated. The heated rhetoric over the Fed’s decision to lower its benchmark interest rate by a…
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European shares jump 1% on tech boost; ECB meet in focus
European shares opened more than 1% higher on Thursday, buoyed by strong performances among technology stocks, while investors awaited the European Central Bank’s rate decision due later in the day. The pan-European STOXX 600 index was up 1.2% at 514.17 points, as of 0708 GMT, and set for the best day in nearly one month,…
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European shares gain on boost from oil, resources sectors
European shares opened higher on Wednesday, boosted by the oil and gas, and the basic resources sectors, while investors awaited a key U.S. inflation reading for clues on the Federal Reserve’s interest rate decision next week. The pan-European STOXX 600 index was up 0.3%, as of 0710 GMT. All regional indexes were trading in the…
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Will Nifty get rid of Friday’s scar? Watch out for these 7 factors
Amid weak global cues and lack of any favourable domestic news, Sensex ended a three-week-long winning streak with a loss of around 1.5% with Friday leading the downside momentum. Analysts say that due to lack of new market catalysts and elevated valuations, upside in the short term may be limited. “Q1 GDP growth has moderated,…
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