COUNTER CYCLICAL POLICY
Impact of election results on stock market: Are Modi stocks the best bet?
Stocks related to Prime Minister Modi's policies, known as 'Modi stocks', are gaining attention. These include PSU stocks and those of private companies in sectors like infrastructure, defense, and manufacturing.
Election stocks to buy: Pick from a buffet of 50+ counters from 5 brokerages
Investors are adjusting portfolios for potential structural reforms under Modi's third term. Sectors like infrastructure, financials, and consumer discretionary are in focus. Brokerages recommend stocks across sectors including SBI, ICICI Bank, L&T, and ONGC for potential gains post-election.
Result day today, keep your shirt on
Stockbrokers advise clients to keep extra margins for trading on election results day amidst rising volatility index, exceeding exchange limits, and cautioning investors to heed advice. Markets react to GDP data and upcoming central bank review. Incoming government's monetary and fiscal policies will impact market. Budget and policy continuity influence systematic investment.
China's central bank vows to support economic recovery
China's central bank said on Friday it will ensure reasonably ample liquidity and credit expansion to consolidate the country's economic recovery, which still faces many challenges.
Any sharp correction for political reasons will be a good opportunity to add: Chandraprakash Padiyar
Chandraprakash Padiyar discusses market uncertainties due to high valuations despite positive business outlook. He highlights concerns over political changes impacting market reactions and discusses challenges in the specialty chemical industry due to Chinese competition. He also says near-term, the earnings look fairly decent from whichever portfolio companies have reported till date.
Economy has done well despite multiple external shocks: MPC's Goyal
RBI's Monetary Policy Committee (MPC) member, Ashima Goyal, praised India's economic resilience despite external shocks. She emphasized the need for counter-cyclical macroeconomic policies due to ongoing geopolitical fragility. Goyal warned against excessive spending, urging a cautious fiscal approach. Regarding inflation, she supported gradual interest rate cuts to maintain real rates necessary for acceptable inflation and growth.
Assets in portfolio should be counter-cyclical to each other: Kaustubh Gupta
"Opportunities in the sense that there is a vacuum which is being created in the world order and there is a place that India can grab in it and threat in the sense that when so much of uncertainty is there, there is always a chance of accidents, whether it is on geopolitical front or it is on economical front," says Kaustubh Gupta.
India's macro-fundamentals strengthened even after facing external shocks since 2020: Ashima Goyal
India's macro-fundamentals have strengthened despite severe external shocks since 2020, according to Reserve Bank Monetary Policy Committee member Ashima Goyal. The country's economic diversity, adequate buffers, and feasible reforms have enabled countercyclical policies. With more firms and consumers internalizing the inflation target, the economy is likely to approach the Reserve Bank of India's (RBI) inflation target of 4% this year.
China’s Politburo signals easing property policies, debt risk plan
The Communist Party's 24-member Politburo its top decision-making body led by President Xi Jinping vowed at a key economic policy meeting to optimize and adjust policies for the property sector. They also called for actively expanding domestic demand and strengthening "counter-cyclical" adjustments, according to a readout of the gathering published Monday by the official Xinhua News Agency.
China’s central bank signals more policy support for economy
Top central bank officials said they have enough room to ease monetary policy if needed and hinted at possible adjustments to the reserve requirement ratio for banks and further targeted easing of property controls.
Dow, S&P gain with bank rally countering rate worries
Bank shares rallied after passing the Federal Reserve's stress test, boosting the Dow and the S&P 500. Strong economic data also fueled expectations of further interest rate hikes. Treasury yields rose as recession fears eased, leading investors to focus on economically sensitive sectors. However, concerns that the Fed would maintain higher interest rates for longer dampened some rate-sensitive growth sectors. The S&P 500 banks index closed up 2.6%, and the relief rally also lifted the KBW Regional Banking index by 1.8%. The Dow rose 0.8%, while the S&P 500 gained 0.45%. The Nasdaq Composite ended slightly lower.
China's central bank upbeat on Q2 GDP growth
As rising interests rates and inflation squeeze demand in the United States and Europe, China's core CPI has been soft and factory gate prices fell sharply in May, suggesting the world's second-largest economy is losing steam.
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Real interest rate of about 1% appropriate for Indian economy: MPC's Ashima Goyal
The Reserve Bank of India need not keep raising rates until prices fall as it risks overshooting the inflation-adjusted real rate, which at around 1% now is appropriate for the economy, an external member of the country's monetary policy committee said.
India can grow at about 7% despite global uncertainty: Former chief economic advisor K V Subramanian
India is already undergoing this shift to a higher growth path because of the sagacious economic policy implemented in COVID, where we undertook measures to enhance both supply and demand along with structural reforms, says former CEA K V Subramanian.
Growth slows, but macro resilient
In 2023, GDP growth in India is expected to slow to 5.9% year-on-year, from an estimated 6.9% growth in 2022. Growth is likely to be a tale of two halves, with a slowdown in the first half as the reopening boost fades and monetary tightening weighs on domestic demand.
Fiscal policy must be counter-cyclical: Krishnamurthy Subramanian, CEA
It’s quite likely that fiscal deficit will be lower than what’s mentioned. When you under-promise and over-deliver, it generates enormous credibility, says Krishnamurthy Subramanian.
Frame India's fiscal rules to enable counter cyclical fiscal policy: CEA KV Subramanian
India should therefore continue its focus on economic growth to lift the poor out of poverty by expanding the overall pie. Because redistribution is only feasible in a developing economy, if the size of the economic pie grows.
RBI says govt’s counter-cyclical measures beginning to play out
Budget will provide greater clarity about the further measures taken by the govt, says Das.
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