Top 10 Stock Market Related News
1. India not defending the rupee, and does not need to, says chief economic adviser Anantha Nageswaran
According to him, India is merely ensuring that the market forces and economic fundamentals steer the rupee in a specific direction and that it does so smoothly and gradually, not actively defending the currency.
India’s senior economic adviser, V. Anantha Nageswaran, stated on Tuesday that the country does not need to defend the rupee because its economic fundamentals are such that the currency can survive on its own.
According to him, India is merely ensuring that the market forces and economic fundamentals steer the rupee in a specific direction and that it does so smoothly and gradually, not actively defending the currency.
The rupee can protect itself, in my opinion; we don’t need to defend it because of the fundamentals in India.
Sebi has no business to suggest IPO pricing of new-age tech firms: Madhabi Puri Buch
However, she swiftly emphasized that corporations should disclose more information about how values have changed between a pre-IPO placement and the price being requested in the issue.
The head of the capital markets regulator, Madhabi Puri Buch, stated on Tuesday that the Sebi has no business recommending a price for the maiden share sale of modern technology businesses.
She soon clarified, however, that corporations must disclose additional information about how values have changed between a pre-IPO placement and the price being requested in the issue.
Speaking at the annual Capital Markets event hosted by business group Ficci, Buch stated, “A lot has been made about the pricing of IPOs of internet businesses at what price you choose to execute the IPO is your business, we have no business to say otherwise.”
Buch, the first female chair of Sebi and a former career banker-turned-regulator gave an example of a business selling shares to investors for Rs 100 and then asking for Rs 450 in an IPO within a few months.
Diagnostic stocks breathe heavy, Credit Suisse says industry at the cusp of a storm
Urbanization, even in India’s ‘Silicon Valley, must align with nature
In a country as large as India with cities having varied natural features and economics, there cannot be a one-stroke strategy for urbanization, whether it is horizontal or vertical. Each has advantages and disadvantages.
Tractors pulling businessmen through the streets of Bengaluru, massive gated communities submerged in rainwater, people cut off from utilities for days at a time due to stagnant water, and more. Images from India’s top “tech” city last week may have been deceiving because they could have come from places that are far behind in terms of urbanization. Many questioned how Bengaluru, of all the cities, could be there.
But why would Bengaluru not consistently be in such a bad position, especially given its recently urbanized status?
The marooned complexes, sluggish water, and relatively smoother flow of rainwater from the old city are the solutions, as are some affluent addresses nearby. When it comes to Gross Domestic Product (GDP) and population growth, Bengaluru is one of the cities in the world that is expanding the fastest.
Gold Prices Today: Yellow metal to trade lower, support around Rs 50,420–50,180
According to Rahul Kalantri, VP of Commodities at Mehta Equities, silver has support at Rs 56,850-56,120 and resistance at Rs 57,980-58,510.
With investors anticipating US inflation statistics that may give hints as to the Federal Reserve’s interest rate hike trajectory, gold was trading lower in the Indian market on September 13 morning while holding steady in the international market. This was made possible by a weaker dollar.
At 10:07 a.m., silver contracts were down 0.85 percent at Rs 57,005 a kilogram while gold contracts were trading 0.48 percent lower at Rs 50,386 for 10 grams on the Multi-Commodity Exchange (MCX).
On the world market, spot gold increased 0.1 percent to $1,725.70 for a troy ounce. US gold futures decreased by 0.2% at $1,736.80.
Retail inflation rebounds in August, sparking fears of another 50 bps rate hike
Higher food prices are the primary causes of inflationary expectations in India, despite the fact that supply-side factors drive inflation; as a result, the Monetary Policy Committee must take decisive action.
It was widely anticipated that the decline in the price of commodities and crude oil would reduce inflation. The majority of the Monetary Policy Committee’s members consistently argued that inflation had peaked. That is accurate when contrasted to the peak of 7.8% in April, but the unexpected return of retail inflation to 7% in August is not welcome.
A hangover can give us an idea of how markets are expected to play out
In a weak world, India is a reasonably alluring market. Despite this, our valuations are somewhat high. Inflation is similar to alcoholism in that it feels nice at first but horrible afterwards. Getting rid of alcoholism or inflation works the opposite way, feeling bad at first but good later.
Markets are still having a good time. The Indian market is comparatively robust in a weak world. What should investors do? **** Milton Friedman, a prominent economist, famously remarked that inflation is similar to alcoholism.
Industrial production: Where's the growth?
The IIP increased by 5.3 points, from 126.5 to 131.8, between April and July 2019. The IIP increased by 3.1 points, from 122.6 to 125.7, between April and July 2018. However, there was just a 0.1 point increase in IIP between April and July 2022. Clearly, the rate of growth in industrial production has not been particularly outstanding.
In May 2022, it was 19.6%, in June it was 12.7%, and in July it was a pitiful 2.4%. These abrupt increases and decreases are largely due to the miracles of the base effect and have little intrinsic value.
Asian stocks creep higher as focus turns to US inflation data
The U.S. dollar fell further from historic highs overnight, partly on expectations that the prices data, which is scheduled for release at 1230 GMT, will provide additional evidence that inflation has peaked. Wall Street indexes notched their fourth straight session of gains.
Tuesday saw an increase in Asian stocks as traders in Korea returned from vacations eager to catch up on a worldwide rebound. Other markets remained stable ahead of US inflation data, which will be a key indicator of future interest rates.
The U.S. dollar fell further from historic highs overnight, partly on expectations that the prices data, which is scheduled for release at 1230 GMT, will provide additional evidence that inflation has peaked. Wall Street indexes notched their fourth straight session of gains.
Martin Wolf writes: Globalisation is not dying, it’s changing
What is the future of globalisation? Trade in products may be slowing down, but the potential for technology-enabled trade in services remains enormous. One of the most important questions of our day is this. In June, I made the case that, despite the growing consensus, “Globalization is not dead. Perhaps it’s not even dying. However, it is altering, and one of the most significant ways is with the expansion of remote services.