TRADE FIGURES
GIFT Nifty up 10 points; here's the trading setup for today's session
Sector like Auto is expected to be in the limelight as OEMs would release their monthly auto Sales number," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal.
5 world market themes for the week ahead
Euro 2024 excitement rises with political shifts in Britain and France. M&A activity surges amidst economic uncertainties. Emerging Asia grapples with inflation as central banks navigate rate decisions. Labour's potential win in Britain poses fiscal challenges. The market awaits U.S. job data impact on Federal Reserve's rate policy.
China's Xi calls for 'bridges' amid trade, diplomatic frictions
Chinese President Xi Jinping has called for the building of "bridges" in the global economy as Beijing grapples with economic, trade, and territorial disputes with neighbours and trading partners. He emphasized that the world's second-largest economy will never leave the road of peaceful development and will not become a "strong" state seeking to dominate others.
UK economy grew 0.7% in first quarter of 2024
Britain's economy grew by 0.7% in the first quarter of this year compared to the previous quarter, surpassing an initial estimate of 0.6% growth, according to official figures released on Friday. This data arrives just days before a national election where opinion polls suggest Labour Party leader Keir Starmer may replace Conservative Prime Minister Rishi Sunak.
On his first China visit, Maldives' trade minister highlights close India ties
Emphasizing the significance of India to the Maldives economy, President Muizzu's recent visits to New Delhi and Beijing, along with Minister Saeed's discussions at the World Economic Forum, underscore the evolving diplomatic and economic landscape between the nations.
CAD in surplus in March quarter after four years
India's current account turned into a surplus in the quarter ended March 2024, marking the first surplus in four years. This change was driven by a moderation in the trade deficit, higher services income, and increased remittances from overseas Indians.
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India's FY24 CAD reduces to 0.7% of GDP from 2% in FY23, records surplus of 0.6% in Q4
India's current account deficit improved significantly to 0.7% of GDP, or $23.2 billion in FY24, down from 2% of GDP, or $67 billion the previous year, attributed to a decrease in merchandise trade deficit, according to the Reserve Bank of India. The country's current account balance showed a surplus of 0.6% of GDP in Q4 FY24, a turnaround from deficits in earlier quarters.
India shows interest in mega Teesta river conservation project
A major focus of the talks between the two prime ministers was to explore ways to shore up India-Bangladesh cooperation in digital and energy connectivity even as both sides resolved to work towards peaceful management of borders between the two countries.
How hedge funds are affecting Bitcoin prices
Bitcoin ETFs and hedge funds are driving significant inflows, sparking debates among investors. The surge in investment is influenced by hedge fund strategies, impacting Bitcoin's price dynamics.
China says escalation by EU over EV imports could trigger 'trade war'
Last week, the European Commission proposed tariffs of up to 38.1% on electric vehicle imports from China despite Beijing's protest, plunging trade ties to a new low and risking punitive retaliatory action. "The European side continues to escalate trade frictions and could trigger a 'trade war'," a statement attributed to the commerce ministry's spokesperson said. "The responsibility lies entirely with the European side."
Chinese automakers seek retaliatory tariffs on EU cars, state media reports
Industry insiders say both Europe and China have reasons for wanting to strike a deal in the months ahead to de-escalate tensions and avoid the addition of billions of dollars in new costs for Chinese EV makers, as the EU process allows for review.
Cryptocurrency price on June 19: Bitcoin rises above $65.5k on Fed rate cut expectations, Ethereum up 3%
Cryptocurrencies surged on Wednesday, led by Ethereum and Altcoins as soft U.S. retail sales data reinforced expectations of Federal Reserve rate cuts. BTC traded 0.2% higher at $65,568, while Ethereum rose 3.6% to $3,560.
What to expect from the Budget going forward? Sanjiv Puri answers
So, we are on a solid foundation because of certain initiatives that have taken place. It is not that it just happened like that. So, there is a reason for which and it sets the economy on a solid foundation.
India's trade deficit in May widens to $23.78 billion; exports rise 9%
India's trade deficit widened to $23.78 billion, falling short of economists' $19.5 billion projection, per a Reuters poll. May saw a 9% increase in merchandise exports to $38.13 billion, driven by engineering goods, commercial vehicles, and smartphones. Merchandise imports surged by 7.7% year-on-year to $61.91 billion. Analysts expect exports to rebound, aided by global trade recovery, manufacturing incentives, and domestic inflation easing.
Sebi proposes stricter norms for inclusion of derivative trading on individual stocks
Capital markets regulator Sebi on Monday proposed stricter norms for the entry of individual stocks in the derivatives segment. The new proposal would weed out stocks with consistently low turnover from the Futures & Option (F&O) segment of the bourses.
Plan to tweak capital gains tax regime for debt mutual funds
The government is considering changes to the capital gains tax regime for debt mutual funds to provide relief for the Bharat Bond Exchange Traded Fund, amid concerns over the current taxation structure.
India rate decision rounds off wild week
India's interest rate decision and Chinese trade figures are key events for Asian investors on Friday amid global political volatility and stock market highs.
US trade gap widens to largest in 18 months
The US trade deficit in April expanded slightly less than expected, reaching $74.6 billion, the widest since late 2022, as imports outpaced exports. The deficit grew from March's $68.6 billion. Despite the central bank's interest rate hikes, US consumption remained strong, supporting imports, while concerns arose over export growth amid weaker global demand. Import growth was driven by automotive vehicles, while goods exports increased modestly, with a notable decline in the goods deficit with China.
ETFs trading at abnormal prices due to high volatility: Check this before investing in mutual fund ETF to prevent avoidable loss
Exchange traded funds NAV: The stock market experienced extreme volatility on June 4 and 5 of 2024. As a result of this volatility the market NAV price of many ETFs showed abnormal premiums or discounts to their indicative i-NAV price. Stock broker Zerodha cautions investors to not buy ETFs if its price is trading at a high premium to its i-NAV value.
Samsung Electronics union announces first-ever strike
Samsung Electronics in wage negotiations with union since January, failed to narrow differences, known for producing high-end memory chips for generative AI.
Singapore may eye Chabahar Port to create trade & transit corridor between SE Asia & C Asia
Singapore aims to access resource-rich Eurasia through India's Chabahar port in Iran, managed by New Delhi. The port plays a vital role in establishing a trade corridor with Kazakhstan, connecting Southeast Asia and Central Asia.
The business ties that bind the U.S. and China are strong but fraying
Many big U.S. companies depend on China for a substantial part of their income and rely on Chinese suppliers and factories for their products.
A new trade war offers no easy way back for old global order
The US-China trade war has intensified with the use of tariffs and subsidies, impacting Europe and China. US Treasury Secretary Janet Yellen has warned of global business risks.
US stocks near record highs with inflation prints in focus
Of the 459 S&P 500 companies that reported through Friday, 77.3% beat analysts' profit estimates, according to LSEG data. The long-term average is 66.7%. At 11:24 a.m. the Dow Jones Industrial Average rose 47.17 points, or 0.12%, to 39,560.01, the S&P 500 gained 2.90 points, or 0.06%, to 5,225.58 and the Nasdaq Composite gained 42.66 points, or 0.26%, to 16,383.53.
Rupee ends marginally lower tracking weak Asian currencies; US CPI awaited
The rupee ended at 83.53 to the U.S. dollar, down from 83.50 in the previous session. The domestic unit traded in a narrow four-paise range in Monday's session.
Developing e-com hubs to boost exports may figure in ministry's 100-day agenda of new govt: Official
India aims to boost exports through e-commerce hubs. Collaboration with ministries and industry experts to enhance export opportunities. E-commerce expected to drive India's merchandise exports to USD 1 trillion by 2030.
Proposed SEZ Amendment Bill may figure in 100-day agenda
The government is considering several measures such as a flexible framework for the sale of products manufactured in SEZs in the domestic market, and streamlining approval processes for units.
UK, Oman trade agreements may figure in Commerce Ministry's 100-day agenda for new Govt: official
Talks between India and Australia to expand the scope of existing economic cooperation and trade agreement (ECTA) for a comprehensive economic cooperation agreement (CECA) are also progressing at a healthy rate, the official said.
UK, Oman trade agreements may figure in commerce ministry's 100-day agenda for new Govt: official
The exercise assumes significance as while chairing a Cabinet meeting on March 17, Prime Minister Narendra Modi asked the ministers to meet secretaries and other officials of their respective ministries to discuss how the agenda for the first 100 days and the next five years can be better implemented.
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