Global Markets
How India's stock market stacks up against global markets
India went past France to become the world’s sixth-largest stock market as the Sensex crossed 59,000 for the first time on Thursday. The country’s equity market capitalisation—the total market value of all listed companies—rose to $3.44 trillion, leaving France behind at $3.39 trillion. In May, India’s m-cap crossed $3 trillion for the first time. While many markets have been hit by the Delta variant’s spread & concerns over the US Fed winding down asset purchases, Indian equities have surged as retail money has flooded in—more so in absence of other high-yielding investment options. India is the best performer among the top 15 biggest markets in 2021. FPIs have pumped nearly Rs 59,000 cr into Indian equities since January 1 while DIIs have ploughed in Rs 22,600 cr. New listings have helped, adding nearly $65 billion, or Rs 4.5 lakh crore, to India’s m-cap in 2021.
D-Street drums up its own beat! But divergence with global markets may not last
India is usually in sync with the global bourses, but not this time! The confidence in the India story remains intact because of a regulatory boost by the Centre for enhancing manufacturing capabilities in various sectors.
Swinging to frenetic global market beat
Swing pricing increases or decreases the net asset value of a fund by a pre-announced swing factor, say, 2%, by loading the transaction costs of large exits on those exiting, and of large inflows on those entering, so as to protect the less fleet-footed investors.
PLI scheme will take care of disability cos' face in global market: Textiles secretary Upendra Prasad
"We have been left behind, and countries like Vietnam and Bangladesh have economies of scale which we don’t have. The whole idea of the scheme is to produce global champions," said textiles secretary Upendra Prasad during an interview with ET.
End of the summer: 8 events that may shake markets in September
The will-they-won't-they debate over trimming pandemic-era stimulus gets an airing with several G10 central banks holding meetings. A showdown over US national debt alongside crucial elections in Japan and Germany add to the risks.
NSE-BSE bulk deals: CLSA Global Markets buys stake in RPSG Ventures
In another transaction, Lebnitze Real Estates bought 4.8 million shares of BNK Capital Markets at Rs. 200 apiece through a block deal on the BSE.
Indian market may seem to be on steroids, but tread cautiously now
Equity markets worldwide turned choppy this past week, as jittery investors navigated uncertain currents. After a short bout of divergence, the Indian bourses returned to echoing global markets and displayed whipsaw movements in tandem with the overseas peers.
NPCI in talks to take UPI, RuPay to global markets
Some of the likely destinations include Gulf countries like Saudi Arabia, the UAE and Bahrain, European and North American countries, Mauritius and Singapore, payment industry insiders said.
Evergrande: Will it be China's Lehman moment?
Global investors are watching nervously as Evergrande Group, one of China's biggest real estate developers, struggles to avoid defaulting on tens of billions of dollars of debt. There are fears this would cause wider shock waves for the financial system
China Evergrande fears consume investors awaiting trading
A major test comes this week, with Evergrande due to pay $83.5 million in interest relating to its March 2022 bond on Thursday. It has another $47.5 million payment due on Sept. 29 for March 2024 notes.
ITC’s valuation discount to FMCG peers at record high. Is it time to buy?
That underperformance has resulted in the discount of ITC’s valuation to the rest of the FMCG pack to expand to a record high of 57 per cent, according to brokerage firm CLSA Global Markets. For CLSA, the steep valuation discount makes the stock a compelling “buy” for the brokerage firm given its optimism for the company’s non-cigarette FMCG business.
India tops global market in number of finance app installs: AppsFlyer
India topped the global market in the number of finance app installs
Emerging market currencies in a ‘sweet spot’ again
Central banks in developing nations will take center stage this week as assurances that the Federal Reserve is in no hurry to raise interest rates lay the groundwork for an extended rally in emerging-market currencies.
U.S. Federal Reserve likely to announce taper in November, former Fed official says
Waiting until November will give policymakers more data on the labor market's recovery and economic growth, Lockhart told the Reuters Global Markets Forum (GMF).
Which pockets of market may flourish & which ones may get hit by rising inflation
Medium level of inflation tends to be great for commodity companies as well as financial companies, as they benefit both on growth and margins.
EMs as vulnerable to taper tantrum as in 2013
Emerging markets are not in a more resilient position now compared to the ‘Taper Tantrum’ of 2013, said Nomura.
Gap-down start for Sensex amid weakness in global markets
Sensex tanks 450 points, Nifty slips below 14,800; SAIL, PNB plunge 5% each.Gap-down start for Sensex amid weakness in global markets
Banks expect biggest pick-up in loan demand from retail sector, mfg, services: Nomura
The Covid-19 pandemic’s second wave, which struck India in March, wreaked the most damage on loan demand from the services and retail sectors, Nomura Global Markets Research said.
Rice exports expected to be lower in FY22 compared to FY21
Non-basmati exporters said exports of non-basmati rice will be 10 per cent lower compared to FY21, while basmati exporters say that if high freight rates and non-availability of containers continue, exports will be lower by 25 per cent compared to FY21.
Cars fueled by sugar in India will add to food inflation risks
The government will fast-track an ethanol program that will divert as much as 6 million tons of sugar toward fuel production annually by 2025, according to the food ministry.
Hazy rules delink Indian cryptos from global markets
Absence of an arbitrage can sometimes keep crypto prices in India artificially high — as it happened on Monday
Oil diplomacy: India needs allies to gain influence on the global market
India’s willingness to tap new sources like Guyana, Brazil, Canada and Russia has helped decrease supply anxieties. Meanwhile, domestic refineries have upgraded and now possess the flexibility to process crude from different sources.
Know why ETFs are a great way to take exposure in global markets
Siddharth Srivastava, Head – ETF Products, Mirae Assets and Will Tu, Asia Pacific, ICE Data Services will deliberate on opportunities for Indian investors outside the Indian ecosystem.
Robinhood makes its $32 billion debut on Wall Street
Robinhood Markets' stock was at $37.57 in early afternoon trading, down 1.1% from its initial price of $38 set late Wednesday.
Sensex plunges tracking global markets as bank, metal stocks weigh on Dalal Street
The S&P BSE Sensex index tanked as much as 514.23 points to 48,988.18 in the first few minutes of trade.
Sensex and Nifty rise for a 3rd day tracking global markets
Domestic equity benchmarks Sensex and Nifty rose for the third session in a row on Wednesday, tracking a rebound in broader Asian markets as easing in bond yields calmed investor jitters globally. At the closing bell, the BSE gauge Sensex quoted 254.03 points, or 0.50%, higher at 51,279.
Pace of economic recovery in US no worry for markets: Ben Emons
"The bigger uncertainties ahead of us are more on the policy front. What will the Federal Reserve do? What kind of infrastructure package are we going to get?"
Sensex, Nifty fall 1% on Fed discussions
Tata Steel, Sun Pharma, State Bank of India and ICICI Bank ended down 1.8-2.3%. Tech Manindra was the only Sensex constituent on Thursday that ended with a gain of over 1%. Sensex had hit a record high of 53,129.37 and Nifty touched a record high of 15,915.65 on June 28.
Farm laws to help Indian produce reach global markets: PM Modi
Prime Minister Narendra Modi said Indian agriculture produce need to reach global markets, justifying the rationale behind bringing in the three contentious farm bills.
Diamantaires hike wages up to 10% to woo migrants
Though the decline in production has helped the industry maintain steady prices of polished diamonds, they fear as demand increases in the global markets in coming months they may face problem on the workforce front as migrant workers, who left during the second wave of the pandemic will only return after the kharif sowing is over.
Expert session to grow your small businesses internationally
To help small businesses create a path for themselves and establish themselves in the global market, an eminent panel of experts will deliberate on how to reach customers around the world.
Fast and furious first half of 2021 keeps financial markets at full throttle
Vaccine programmes and some of the biggest fiscal and central bank stimulus ever seen have made for compelling viewing.
5 key takeaways for global markets in 2020
Apart from a few weeks culminating in the 2020 market lows of March 23, stocks managed to shrug off what has been a drastic collapse in global economic activity with significant immediate and longer-term consequences.
Only one number mattered to global markets in 2020
The market is always about what will happen rather than what has happened, and it’s been highly profitable in recent years to buy whenever the market pulls back.
Danger lurks in global markets transfixed by rising bond yields
BloombergJust as an everything rally propels records in the S&P 500 and inflates risk assets, the bond market is emitting a warning signal to investors that a rapid economic rebound comes with its own dangers.
Global markets buoyant as US stimulus package debate looms
Positive momentum from Asia carried through to Europe, with the pan-European STOXX 600 edging up 0.9%.
MSME engineering exporters seek PM's intervention on rising steel prices
In a letter to the prime minister, Ludhiana Hand Tools Association President S C Ralhan said that many of the competing countries, particularly China, provide support to manufacturing units by providing steel and other inputs at much reasonable prices to boost competitiveness of their engineering sector in the global markets.
Global equities climb, dollar drops as US jobs data ease inflation fright
U.S. nonfarm payrolls data showed 559,000 jobs were created last month, a sharp increase in hiring from April but below the 650,000 expected from a Reuters poll of analysts.
TV prices to go up from April as open-cell panels get costlier in global markets
Brands including Panasonic, Haier and Thomson are considering to increase prices from April this year, while some like LG have already raised prices due to hike in prices of open-cell. Panasonic India and South Asia President and CEO Manish Sharma said, "Panel prices are rising continuously and so are the prices of TVs. It is likely that TV prices may increase further by April."
Exploring possibility of exporting H'ness CB350 to various global markets: HMSI
The company rolls out the bike with over 90 per cent localisation from its Manesar (Haryana) based manufacturing facility. HMSI had introduced the bike in October 2020 and has already crossed 10,000 sales mark in February this year in the domestic market.
World market themes for week ahead: Will it pass or will it last?
Markets saw it coming - they were at record highs well before the first-quarter earnings season saw companies delivering one of the strongest profit jumps on record. The bumper earnings flows were therefore met on markets with a yawn.
India is second largest insurtech market in Asia Pacific, S&P Global says
India and China, collectively home to nearly half of insurtech startups in the Asia Pacific, will continue to corner the lion's share of venture capital interest on account of their large and fast-growing insurance markets, the report states.
Modi hails Visva Bharati, says it should help farmers, artisans find global markets
He said Guru Rabindranath Tagore had not envisioned the university as a typical educational institution but one that will help Indian culture realise its full potential.
Long & Short of Markets: Global market linkages & other top reads
Globally, sectoral trends are clearly skewed towards banking and old economy stocks since the equity rally changed lanes last month.
European stocks steady after Tuesday's rout, eyes on U.S. inflation data
The pan-European STOXX 600 index rose 0.2 per cent after falling almost 2 per cent on Tuesday as investors offloaded riskier assets on worries that rising U.S. inflation could lead to tighter monetary policy.
Rout lands on Nasdaq where shorts are massing, bulls getting out
As the Nasdaq 100 -- trading at more than 5 times annual revenue -- dropped more than 2.5%, volatility in tech stocks jumped by the most since early March.
Inflation debate hits emerging markets
Long the scourge of debt holders and a threat to currency stability, accelerating inflation has already forced policy makers in Brazil and Russia to raise borrowing costs. The Czech central bank last week signaled it could follow suit in mid-year, while Turkey’s monetary authority has pledged to keep rates elevated until there is a significant slowdown in price gains.
World market themes for week ahead: Spring is (finally) in the air
Global equities are down after three months of gains. But markets aren't far off record highs and price falls may reflect a setback for tech mega-caps rather than a wholesale exit from stocks. And with real bond yields deeply negative, a selloff should be short-lived.
Kenya giving tough competition to India's black tea export in global market
Further, payment issues with Iran have dented India’s tea exports. Hardly any tea is being shipped to the Gulf nation these days, said industry executives.
India's bond yields increasingly sensitive to global markets: RBI paper
The team analysed the term premium or the difference between the 10 year government security yield and the overnight policy rate as a measure of the term spread.
Kenya taking over global markets, Indian tea producers look inward for price recovery
In 2020, tea production India fell due to the lockdown. Once the lockdown was withdrawn, it took almost a month for the bushes to come in shape to generate fresh tea leaves and buds. In 2019, India had produced 1,390 million kg of teas.
US Election: 2 bad scenarios come back to haunt global markets
“The key inflection point for markets will be whether the government -- be it Biden- or Trump-led -- is divided,” said Peter McCallum, rates strategist at Mizuho International Plc in London.
Global markets under Trump: Build the Wall (Street)!... and China
While the numbers may have been exaggerated by this year's COVID-19 crisis, most analysts agree that Trump's tax cuts, combined with low interest rates and the online boom, have made Wall Street a winner over the last four years.
HODL your horses, cryptos face possible hurdles ahead, experts say
Europe and the United States are both working on regulating digital assets and their providers - moves welcomed by investors, who hope the new ground rules will encourage institutional investors to plunge in.
Smartphone brands explore cargo shipment alternatives for imports after China airline ban
The state-run airline, on Monday, suspended all cargo flights on six routes to India for 15 days, citing the risk of rising Coronavirus cases in the country.
OMCs keep petrol, diesel prices unchanged for 11th day
Across the country as well the petrol and diesel price remained unchanged on Monday but its retail levels varied depending on the level of local levies on respective states.
Options on Coinbase Global start trading in robust volume
Monthly options contracts on Coinbase shares started trading for the first time on all U.S. options exchanges, including ones run by Cboe Global Markets, the Nasdaq and the Intercontinental Exchange, on Tuesday.
Global market fall not a blip, more a modest pullback
I do not think it is going to be anything like what we had in February and March, says Geoff Dennis.
Gold prices today slip on weak trend in global market
Globally, gold prices fell weighed by a steady dollar and fading chances of a new US fiscal stimulus package being finalised before the November elections.
Stimulus hopes ease global markets into explosive fourth quarter
Europe's STOXX 600 index and the euro were up 0.7 per cent and 0.2 per cent respectively before PMI economic data expected to show the region's ongoing gradual recovery from coronavirus slump.
Nexzu Mobility eyeing global market; in talks for e-cycle exports to US, UK
The Pune-based e-mobility player currently has two scooter models -- Dextro and Dextro + -- and three hybrid cycle models -- Roadlark, Aello, and Rompus -- in its product portfolio, which are produced at its Pune manufacturing facility.
As meme stock mania fizzles, Wall Street sees ‘big reckoning’
An index that tracks 37 of the most popular meme stocks is essentially unchanged over the past two months after soaring nearly 150% in January.
Investing lessons from the year markets beat Covid and sprang many surprises
This year has indeed taught us a few lessons, which were mainly about the fact that “price is king” and equity markets always behave in its own mysterious way.
Global equities could receive April boost after a pause in rally
"April tends to be a strong month for risk assets, with monthly returns statistically significant across major markets, said Andrew Sheets, a strategist at Morgan Stanley, adding that higher dividend payments could be a reason behind this rise in shares in the month.
Asia shares cautious as US futures ease; all eyes on Biden plan
Optimism about the US economy has been helped by the vaccination rollout with some 143 million shots given to almost 94 million people, far ahead of Europe's rollout.
Global markets wary as coronavirus threatens economic reopening
In a more promising sign, E-Mini futures for the S&P 500 recouped their early losses to edge up 0.3% and EUROSTOXX 50 futures added 0.2%. FTSE futures dipped 0.2%.
Take Five: World market themes for the week ahead
It's been an eventful quarter. Brent crude and copper are top performers with respective gains of around 20 per cent and 15 per cent; the commodity-heavy FTSE stocks index is up 4 per cent. Wall Street's 2020 winners, the FAANG stocks, are barely in the black.
What happens when stimulus ends? Chinese equities’ 15% plunge shows just that
Central banks around the world are dealing with the aftermath of last year’s multiple interest-rate cuts and trillions of dollars in stimulus.
Sensex plunges 871 pts on weak global cues; Nifty ends below 14,550
Equity benchmark Sensex plunged 871 points on Wednesday due to across-the-board selling amid a negative trend in global markets. The 30-share BSE index ended 871.13 points or 1.74 per cent lower at 49,180.31. While the broader NSE Nifty declined 265.35 points or 1.79 per cent to 14,549.40.Sensex plunges 871 pts on weak global cues; Nifty ends below 14,550
Global markets retreat on rising second wave fears
On Wall Street, the S&P 500 lost 0.36% on Wednesday but tech-heavy Nasdaq added 0.15% due to hopes of increased demand for various online services due to the epidemic.
5G smartphones to capture 50% of global market by 2023: IDC
"While many of the top vendors have reduced their 2020 production plans to align with the market decline, we've seen most of the cuts focused on their 4G portfolios," said Ryan Reith, programme vice president with IDC's 'Worldwide Mobile Device Trackers'.
India must return to more liberal trade policy regime, ink FTAs with UK, EU: Arvind Panagariya
With a low corporate profit tax rate, labour law reforms, GST, and bankruptcy law, a massive privatization programme on the anvil, and measures to de-stress the financial sector under way, the country is poised to take on to global markets in a major way, former Niti Aayog Vice-Chairman Arvind Panagariya said.
Tokyo stocks open higher tracking Wall Street as Fed continues easy policy
The US central bank showed an optimistic view about the outlook for the American economy, but Federal Reserve Chair Jerome Powell cautioned a full recovery remains far off.
Global markets are performing better than India but the slow recovery here was expected: Vineet Gautam, Bestseller India
Covid-19 is here to stay for a while. But the good part is that we have started to live with the virus now. A lot of industries have started to show better numbers, asserts Vineet Gautam.
Citigroup tweaks model portfolio to be more defensive, cites elevated valuations
Citi has a target of 14,800 on the Nifty by December this year which implies a minor downside from current levels.
Rakesh Jhunjhunwala awaits windfall as Nazara Tech all set to hit IPO mart
The online gaming company has already emerged as a long-term wealth creator in the market for unlisted shares, having delivered 70 times return in last 15 years.
Global markets adrift as vaccine rally falters
MSCI's broadest index of Asia-Pacific shares outside Japan was flat.
Shares, dollar cheer US stimulus, bonds downcast
The benchmark Nikkei 225 index was up 1.03 percent or 298.67 points at 29,162.99 in early trade, while the broader Topix index edged up 0.97 percent or 18.32 points to 1,914.50.
Diamond shines as global markets melt
Between February 18 and March 17, crude oil futures slipped 42 per cent, the Sensex 25 per cent, silver 25 per cent and gold 3 per cent.
PLI Scheme, OpenRAN will help India's telecom vendor ecosystem grow, says Airtel
There will be 5G use cases which will be developed in India by local companies who can ship these use cases to global markets, he said. The government is expected to notify 5G trials shortly.
Goldman warns the dollar's grip on global markets might be over
While that view is clearly still a minority one in most financial circles -- and the Goldman analysts don’t say they believe it will necessarily happen -- it captures a nervous vibe that has infiltrated the market this month: Investors worried that this money-printing will trigger inflation in years ahead have been bailing out of the dollar and piling furiously into gold.
China's billionaires club swells as market rally offsets virus pain
The size of China's exclusive billionaire's club has almost doubled in the past five years as the world's number two economy continued to outpace most others, and its ability to mostly avoid the worst of the coronavirus meant it was one of the few to expand in 2020.
Central banks will happily ignore inflation-mongers
After a decade of underestimating inflation, central bankers in the United States, Europe and Japan have every reason keep money taps open and policymakers are even rewriting their own rules so they can let price growth overshoot their targets.
European stocks rebound as bond markets stabilise, UK outperforms
The pan-regional STOXX 600 index rose 1.7%, tracking strong gains in Asian markets, while data showed manufacturing activity picked up pace in major euro zone economies in February.
Chinese investment in Australia plummets amid tensions
The annual tracking study from the university's East Asian Bureau of Economic Research recorded A$1 billion ($783 million) of Chinese investment in 2020, consisting of real estate (45%), mining (40%) and manufacturing (15%) deals.
Asia’s central banks have built a buffer against surging yields
The increase reflects intervention in foreign-exchange markets and positive valuation effects that pushed total holdings to $5.74 trillion, just shy of the record $5.8 trillion hit in 2014.
Take innovative products like Khadi denim to global markets: Nitin Gadkari to Walmart
The minister said that the target now is to provide 5 crore more jobs in the MSME sector while increasing export share to 60%.
Oil prices jump more than $1 on slow US output restart
Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.
Current economic scenario in India as well as global markets is challenging: Chandrasekaran
Addressing shareholders at the first annual general meeting of the company which has been formed after the merger of Tata Global Beverages and consumer products business of Tata Chemicals, Chandrasekaran said the situation arising out of the coronavirus "situation has progressively improved" though some of the challenges will persist in the short term.
Asia sets up global stocks for extended bull run on economic optimism
Oil prices soared to a 13-month high as a deep freeze due to a severe snow storm in the United States not only boosted power demand but also threatened oil production in Texas.
Asian shares stuck in holiday lull, bitcoin powers higher
MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.03%, trading just shy of an all-time high reached in the previous session. Australian stocks lost 0.31%. Shares in Tokyo fell 0.32%, pulling back from 30-year highs.
Markets waver as traders track US stimulus, vaccines
Gains were capped by news that the EU has slashed this year's eurozone economic growth forecast to 3.8 percent from 4.2 percent, citing the impact of Covid-19 curbs.
Asia stocks pause at peaks, sustained by stimulus promise
MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.1%, having climbed for four sessions straight to be up over 10% so far this year.
Asian shares near all-time peak, oil heads to $60/barrel on economic revival hopes
Japan's Nikkei climbed 0.3% while Australian shares advanced 0.5% led by technology and mining shares.
How the coronavirus has hit Indian and global markets
Coronavirus or COVID-19 has spooked not just the Indian stock market but global stock markets as well. ET wealth studies the impact of the pandemic virus.
Reliance gets world's first 'carbon-neutral' oil from US
"This transaction, which was arranged in conjunction with Macquarie Group's Commodities and Global Markets group (Macquarie), is the energy industry's first major petroleum shipment for which greenhouse gas (GHG) emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset," it said.
Global markets hit two-month high as economic optimism spreads
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, earlier touching the highest since March 9.
Global markets reach three-month peaks, resilient to US riots
After a cautious start Asian markets were led higher by China on signs parts of the domestic economy were picking up. Hong Kong managed to rally 3.6%, while Chinese blue chips put on 2.2%.
FII net selling of Indian stocks hits 10-month high ahead of Budget Day
Foreign investors today sold Indian stocks worth Rs 5,930.7 crore on the bourses, data available on the NSDL showed. The selling pressure caused the Nifty50 and BSE Sensex to close over 1 per cent lower each.
US: Stocks have worst day since October as big tech sinks
Technology companies led a broad sell-off in stocks Wednesday, knocking more than 600 points off the Dow Jones Industrial Average and handing the market its worst day in nearly three months. The S&P 500 fell 2.6%, its biggest single-day drop since it lost 3.5% on October 28. It had set a record high just two days earlier. The Dow and tech-heavy Nasdaq composite also fell more than 2%. The sell-off left the S&P 500 and Dow in the red for the year.US: Stocks have worst day since October as big tech sinks