India Indexes Fall 1% In Global Selloff After U.S. Fed's Hawkish Stance
Sep 21 Market indexes extended losses for the second day in a row following worldwide selloff after the U.S. Federal Reserve signaled one more rate hike and fewer rate cuts in 2024. Crude oil prices edged lower and the rupee held firm as the dollar advanced against major currencies.
Asian Markets Extend Losses, Yen and Yuan Under Pressure After Fed Rate Action and Views
Sep 21 Asian markets declined around 1% in broad selloff from Tokyo to Shanghai to Mumbai after investors reviewed the latest views on rates from the U.S. Federal Reserve. The yen dropped to a one-year low and the yuan traded at a 16-year low.
Movers: Adani Green Energy, Cipla, FINO Payments, SJVN, Zydus
Sep 21 Adani Group stocks jumped more than 3% after France-based TotalEnergies agreed to invest in a joint venture with the company. FINO Payments appointed an auditor to investigate allegations of fraud. U.S. drug regulator completed review of Zydus' manufacturing plant in Ahmedabad. sjvn cipla zyduswell adanigreen finopb
- Movers: Blue Star, Karnataka Bank, HDFC Bank, R R Kable, Reliance Industries, Shree Cement
TCS Quarterly Earnings Growth Slowed
Apr 13 The largest tech services provider, TCS reported muted earnings and revenue growth in the March quarter and slowed new staff hiring in the final quarter of the fiscal year. tcs
- Earnings: TCS, Infosys, HCL Technologies
- IPCA to Acquire 33% Stake In Unichem
Reliance Retail to Buy Metro India at Significant Discount
Dec 22 Metro India agreed to sell its network of 31 wholesale stores at a significant discount after failing to attract buyers amid shifting landscape and rising competition from online stores. reliance
RBI Paused Rates Third Time, Revised Higher Inflation Estimate
Aug 10 The Reserve Bank of India held its key lending rates for the third time in a row in August and reiterated its annual economic growth estimate but revised higher its inflation outlook.
Current Account Deficit Shrank In March Quarter
Jun 28 Current account deficit fell sharply in the March quarter from the previous quarter and year ago. However, the current account deficit surged in the fiscal year 2023 after higher commodities prices lifted the international trade deficit in the year.
U.S. Market Averages Dropped 1% After Fed's Future Rate Outlook Signaled Hawkish Stance
Sep 21 Market indexes fell sharply after investors digested Fed's decision to hold rates and economic projections indicating rates are likely to stay higher-for-longer.
European Markets Rebounded After German Wholesale Deflation Accelerated, UK Inflation Eased
Sep 21 European markets rebounded after Germany's wholesale inflation dropped at a record pace in August and consumer price inflation in the UK eased to the level last seen eighteen months ago.
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