MARKET TURMOIL
Pakistan stocks downgraded to frontier market by FTSE Russell
Pakistan's market status has been lowered from secondary emerging to frontier market by FTSE Russell, impacting equities with potential outflows. Despite this, the market remains optimistic due to IMF support. Debt concerns and political volatility have contributed to Pakistan's struggle to maintain its market size and liquidity.
Market can only go up now irrespective of Budget. Here's why
The Street has discounted the defence manufacturing stocks too much into the future. Even the earning visibility has been discounted. It is a fast-moving train; it does not make sense to get onto that train at this point. There are many choices when it comes to rural play – two-wheelers, fertilisers, pesticides and M&M, says Dipan Mehta.
Trade routes in turmoil: Why Indian exports are piling up in Colombo and Singapore
About 75% of India's transshipped cargo is handled at ports outside India, and the major trade routes connecting India to various destinations, including Colombo, Singapore, and Port Klang, are currently experiencing strain.
Tech boom leads global markets through first half of 2024
The first half of 2024 was marked by soaring mega caps, political uncertainties, and remarkable movements in commodities and emerging markets. From Nvidia's market value surge to Japan's weakening yen and the rise of cryptocurrencies, the period reflected a mix of challenges and opportunities shaping the global economy.
Top U.S. banks hike dividends after sailing through Fed's stress test
U.S. banking leaders increase third-quarter dividends following successful Federal Reserve stress tests, demonstrating robust financial health amid economic uncertainty.
Asian shares head for five-month winning streak; yen slides
Asian stocks rise on Fed rate cut hopes and U.S. inflation worries. AI boom drives Wall Street to record highs. Yen hits 38-year low, impacting Japanese markets. Gold market pressured by strong dollar.
Asian shares eye five-month winning streak; yen buckles under dollar strength
Friday is packed with risk events for markets after a relatively subdued rest of the week, with U.S. Democratic President Joe Biden and his Republican rival Donald Trump set to take the stage at 0100 GMT for their first debate of the year ahead of November's U.S. presidential elections.
All roads lead to Nvidia as tech sees record inflows, Says BofA
Nvidia Corp became the world's most valuable company, driving record inflows into tech funds. Bank of America Corp strategists noted $8.7 billion inflow in tech funds via EPFR Global data, with strategist Michael Hartnett commenting on the impact of Nvidia's success.
Yen falls after BOJ decision; euro stutters towards weekly loss
The yen fell after the Bank of Japan kept rates unchanged and announced plans to reduce bond buying. Meanwhile, the euro faced political turmoil and a weekly loss.
Nvidia rivals gold as shield against inflation, survey shows
Gold, the haven of choice for decades, is still seen as the best safeguard against the risk of rising prices, according to 46% of survey participants. But nearly a third said the tech behemoths are their first pick for the role.
Street smart bulls refuse to be cowed down amid turmoil in Middle East
India's stock indices rose post volatile trading due to traders covering bearish bets on Israel-Iran conflict hopes. Rupee strengthened on likely RBI dollar sales, while gold surged. NSE's Nifty closed higher.
5 world market themes for the week ahead
Here's your week ahead primer in world markets from Yoruk Bahceli in Amsterdam, Lewis Krauskopf in New York, Kevin Buckland in Tokyo, and Dhara Ranasinghe and Amanda Cooper in London.
Turmoil in India's exchange-traded FX options on forced position unwinding
The premium on out-of-the-money dollar/rupee put options expiring on April 26 soared up to 250%, despite spot dollar/rupee inching up 0.04% to 83.4200.
Petrol, diesel prices fallen in India when global energy market in turmoil: Puri
Petroleum and Natural Gas Minister Hardeep Singh Puri highlighted that petrol and diesel prices in India have decreased despite global energy market turmoil, contrasting with price increases in other countries like Pakistan and Sri Lanka. Puri emphasized India's diversification of crude oil sources, increased use of alternative energy, and transition to electric vehicles.
How to not get caught boycotted
Amidst widespread political unrest globally, many voices have called for boycotts as a form of protest against products, services, brands, and even entire nations. One such movement is BDS (boycott, divestment, sanctions), aiming to pressure Israel into altering its policies towards Palestinians through economic and political actions. The movement gained prominence in the early 2000s and has targeted multinational corporations like Nestle, Burger King, Disney, Siemens, HP, Puma, Carrefour, and others believed to support Israel, either openly or discreetly.
Exports from Kolkata port may be hit due to soaring freight rate, rice ban, geopolitical turmoil
Exports from Kolkata port, a key gateway to eastern India, are facing challenges such as geopolitical tensions, a government-imposed rice export ban, and soaring ocean freight costs. Key export items like engineering goods, shrimp, and rice have been impacted. Freight charges, especially for West Coast destinations, have surged by 30-50% since December 2023 due to the conflict in the Red Sea, leading to rerouting of vessels.
‘Complacency’ of 2023 could mean turmoil ahead for small & midcaps
“The predominant higher closings of the Nifty in 2023 were like the one seen in 2017,” said Sahil Kapoor, head of products and market strategist at DSP Mutual Fund. “Like in 2017, this indicates complacency may have set in and market participants are not prepared for any shocks that may come.”
New skills that make today’s chief marketing officer armed and formidable
Jayita Roy, VP-HR, Adecco India, says in the ever-evolving landscape of marketing, the role of the CMO is undergoing a profound transformation. Taking a broad perspective, she says there are a handful of skills that usher in a new era of marketing prowess.
Microsoft emerges as clear winner from OpenAI turmoil with Altman on board
Microsoft's shares rose as much as 2% to a record high before paring some of the gains. The company was on track to add nearly $30 billion to its market value at current levels. That was close to the valuation OpenAI commanded in its last fundraise.
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