ICICI Bank shares in focus after hike in minimum balance requirement for new savings accounts
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New Indian Express
an hour ago
- New Indian Express
How to tackle turbulent times
It will be an understatement to say that there is chaos in the financial markets today. As the world grapples with the impact of US tariffs unleashed one country at a time, India suddenly finds itself in a pickle. You can figure that out from the trend in the currency and the stock markets. These markets pick up signals of uncertainty quickly. They loathe it, and any threat to future profits is viewed negatively. Those in the currency markets foresee India's exports getting disrupted, and those in the stock market look at the negative impact on future corporate profits. India's Nifty has witnessed a sharp selloff over the past week while other major global indices have held firm or rallied. There are specific concerns investors have about India due to President Donald Trump's unilateral action of additional tariffs on the purchase of Russian crude oil. Despite all of that, the big picture in India is not so worrying. India's government finances are strong, with no risks to the government revenue. The economic growth is expected to be well over 6%, according to most pundits. The Reserve Bank of India's monetary policy committee has put out a benign outlook for the consumer price inflation. That indicates little or no risk of inflation ahead and a downward trend in interest rates. You may want to read these trends and move forward cautiously when it comes to money. There is a risk to your investments. However, there are ways to work your way. You can take a leaf out of the ancient Greek philosophy or Stoicism. The concept evolved in the third century BC. The concept of 'control your controllables' means that your habits with money are far more critical than the external turmoil around you. A disciplined approach to investing is better than trying to time the market in turbulent times. A market fall in such a state of uncertainty could be like catching falling knives.
Economic Times
an hour ago
- Economic Times
These large-caps have ‘strong buy' & ‘buy' recos and an upside potential of more than 22%
It might be a bit too early to say, but the way things panned out during Monday's trade suggests that the bias of the current volatility has probably turned neutral from bearish.A typical change in sentiment happens when the Nifty and large-caps are relatively stable, but the mid-caps are still under pressure. It is then that we see a change in the market breadth of the mid-cap things, though: One, as we said, it is too early to say. FONT SIZE SAVE PRINT COMMENT
Time of India
4 hours ago
- Time of India
Currency watch: Rupee slips 17 paise to 87.75 against US dollar; importer demand and higher crude prices weigh on sentiment
The rupee reversed early gains to end 17 paise lower at 87.75 against the US dollar on Monday, pressured by persistent importer demand for the greenback, a rebound in crude oil prices, and foreign fund outflows. Tired of too many ads? go ad free now At the interbank foreign exchange market, the domestic currency opened at 87.56 and traded in a narrow range of 87.48 to 87.75 before settling at the day's low. On Friday, the rupee had closed flat at 87.58 after recovering from intra-day losses, PTI reported. 'The rupee opened higher on a weak US dollar index and positive domestic markets but later pared gains due to firmer crude oil prices and FII outflows,' said Anuj Choudhary, Research Analyst, Commodities Research, Mirae Asset Sharekhan. He added that the local unit may trade with a negative bias amid uncertainty over trade tariff issues between India and the US. Persistent foreign portfolio outflows could weigh on the rupee, though a weak US dollar may offer support at lower levels, Choudhary said. 'Investors may remain cautious ahead of US inflation data this week. We expect USD-INR spot to trade in the 87.35–88 range,' he noted. Brent crude futures edged up 0.03% to $66.61 per barrel. The dollar index, which measures the greenback against a basket of six major currencies, was up 0.10% at 98.28. Investors are also awaiting India and US CPI inflation readings and developments from the planned August 15 talks between US President Donald Trump and Russian President Vladimir Putin on the Ukraine war. India has reiterated Prime Minister Narendra Modi's position that this is 'not an era of war' and has consistently called for dialogue and diplomacy to end the conflict. Tired of too many ads? go ad free now In domestic equities, the Sensex surged 746.29 points to 80,604.08, while the Nifty gained 221.75 points to close at 24,585.05. On the reserves front, India's forex kitty fell by $9.322 billion to $688.871 billion for the week ended August 1, one of the sharpest weekly declines in recent months, according to RBI data. In the previous week, reserves had risen by $2.703 billion to $698.192 billion. Foreign institutional investors sold shares worth Rs 1,202.65 crore on Monday, exchange data showed. Traders also flagged pressure on the rupee from escalating trade tensions. On August 6, the US announced an additional 25% tariff on all Indian imports, doubling the total duty to 50% from August 27.
