Connect with us

Business

Macro-data to drive equity markets

Published

on

Equity-Market-2Mumbai : Key macro-economic data, coupled with trends in global indices and the pace of foreign funds inflow, are expected to drive the trajectory of the Indian equity markets during the upcoming week.

“Next week is front loaded with CPI (consumer price index) and IIP (Index of Industrial Production) data,” Anand James, Chief Market Strategist at Geojit BNP Paribas Financial Services, told IANS.

Key macro-economic data such as the factory output — IIP — for July and inflation figures for August are expected to be released on Monday.

These data points will be followed the release of WPI (Wholesale Price Index) numbers.

“The inflation figure is keenly awaited to see if there are chances of RBI (Reserve Bank of India) governor cutting rates in his first monetary policy meeting after assuming office,” James said.

As per D.K. Aggarwal, Chairman and Managing Director, SMC Investments and Advisors: “There is a strong assumption that market will continue to move upwards.”

“Upcoming major macro-economic data, crude oil prices and rupee movement, coupled with trends in global indices and the pace of foreign funds inflow, will dictate the trend of the global markets in the coming weeks.”

Besides, an important factor which is expected to determine the markets movement will be the pace of foreign funds inflow.

Provisional figures from the stock exchanges showed that the week ended September 9 witnessed an inflow of Rs 2,088.95 crore.

“Investors will closely follow important cues like FIIs (Foreign Institutional Investors) fund inflow in Indian equity markets and markets’ strength and sustainability at higher levels,” Dhruv Desai, Director and Chief Operating Officer of Tradebulls, told IANS.

“Indian equity markets are likely to trade in a volatile manner due to profit booking at higher levels in the coming sessions. Auto and pharma sector stocks are likely to trade firm on support of strong fundamentals.”

On the global front, Indian investors will look out for crude oil price movement and the outcome of the US Fed’s FOMC (Federal Open Market Committee) meet.

“The markets would be influenced by global risk and liquidity. Remarks by a voting member of US Federal Reserve on fed hikes have led to the fear of hikes coming in sooner,” said Devendra Nevgi, Chief Executive of ZyFin Advisors.

“The Fed meeting this month remains the focal point of the global markets and risk aversion.”

Last week, a slew of data from the US had lessened the possibility of a rate hike when the FOMC meets September 20-21.

A hike in US interest rates can potentially lead FPIs (Foreign Portfolio Investors) away from emerging markets such as India.

It is also expected to dent business margins as access to capital from the US will become expensive.

In addition, the Indian rupee, which showed firm movement last week, is also expected to be closely tracked. The rupee closed at 66.68 against a US dollar on Friday.

According to Hiren Sharma, Senior Vice President and Head-Forex Advisory at Anand Rathi Financial Services, “the range of 66.66 (66.50/32) to 67.06/10 (66.25) remains intact”.

For the week ended September 9, the key indices maintained their upward trajectory by rising more than half a percentage each.

However, some gains were capped as investors turned picky on their investments and chose to book profits on Friday.

The 30-scrip sensitive index (Sensex) of the BSE, which had touched a new 17-month closing high on Thursday, ended the week’s trade with an appreciable gain of 265.14 points or 0.93 per cent at 28,797.25 points.

Similarly, the 51-scrip Nifty of the National Stock Exchange (NSE) edged up 57.05 points or 0.65 per cent to close at 8,866.70 points. The Nifty had touched its new 18-month closing high last week.

Business

Apple is giving a huge discount on its gadgets: Details inside

Published

on

If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

Continue Reading

Trending