The Indian benchmark indices ended the week on a negative note with the Sensex falling 2.2 percent while the Nifty was also down 2.2 percent. The Bank Nifty was down 2.4 percent with major banking stocks falling on the backdrop of the PNB Fraud investigation.Nifty Auto index clocked a 2.3 percent fall and the Nifty IT was marginally down 0.2 percent. The FMCG sector also closed in the red, down 1.8 percent for the week.The Nifty metal index which was the underperforming sector for the week, plunged 6.9 percent while Nifty Pharma shed 4.5 percent.Close Across the globe, the Nasdaq closed at record high on Friday as traders lapped up stocks like Microsoft, Netflix, Amazon.com and other high-performance technology names. The Nasdaq registered a gain of 9 percent year to date, compared to a 3 percent increase in S&P 500. related news Wall Street climbs on solid jobs data, trade hopes; Dow Jones rallies over 300 pts Wall Street opens higher after … [Read more...] about Weekly wrap: Global indices end on positive note; Sensex, Nifty register 2.3% loss
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Manas ChakravartyMarkets across the world have suddenly been spooked by fears of a growth slowdown. Here’s what the Reserve Bank of India said in its monetary policy statement a few days ago: "…global economic activity has shown increasing signs of weakness on rising trade tensions. Among advanced economies, economic activity appears to be slowing in the US in Q42018, after a buoyant Q3. The Euro area growth lost pace in Q3, impacted by weaker trade growth and new vehicle emission standards. The Japanese economy contracted in Q3 on subdued external and domestic demand."The RBI said growth was also slowing in some emerging markets, most importantly China. For India too, there have been warnings of lower growth after the September quarter gross domestic product growth came in lower than anticipated. Fitch Ratings has been the latest to jump aboard the bandwagon, reducing its estimate of India's GDP growth this fiscal from 7.8 percent earlier to 7.2 percent.Close … [Read more...] about Quick Take | Does the market really have a reason to worry about lower global growth?
The Sensex and the Nifty closed the week with losses of about 1 percent. The Nifty, which hit a record high of 12,158 last week, failed to hold onto the momentum and closed with losses of 1.1 percent for the week ended December 6.Experts are of the view that selling was largely seen in the rate-sensitive pack after the RBI policy outcome. The consolidation may continue in the coming week as well, but 11,700-11,800 is likely to act as crucial support for the Nifty, they say.Below are the top 10 stocks which moved the most this week:Close Whirlpool, up 9% related news D-Street Buzz: Banks bleed led by YES Bank, RBL Bank, SBI; Omaxe tanks 20% Shakti Pumps shares fall 3% after CARE revises credit rating Andhra Bank share price falls 3% after RBI imposes Rs 25 lakh penalty The share price of Whirlpool gained over 9 percent for the week on consistently strong financial performance. A sharp gain in the market price has seen the company enter the list of top 100 companies with the … [Read more...] about Top gainers & losers: Top 10 stocks which moved the most this week, YES Bank tanks 18%
No wonder the S&P 500 index fell to a 14-month low on Monday. The market’s fears of a slowdown in economic growth are coming true.The December Flash Composite Purchasing Managers Index (PMI) for the US, a gauge of private sector activity, has come in at a 19-month low.The pace of expansion is still solid, but it’s slowing.Close Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here. … [Read more...] about 100-Word Take | The reason for the plunge in the US market
Dear Reader,From Arthur Conan Doyle’s ‘The Adventure of Silver Blaze’:Gregory (Scotland Yard detective): Is there any other point to which you would wish to draw my attention? Holmes: To the curious incident of the dog in the night-time. Gregory: The dog did nothing in the night-time. Holmes: That was the curious incident.Close The parallel between the little snippet from the Sherlock Holmes story and the Monetary Policy Committee (MPC) doing nothing at its December 5 meeting is rather neat. related news Robots are not just taking away jobs, they are making life tougher for staff OPEC agrees oil output cuts after much 'brain squeezing' Jute could be among priority industries to bet on in next rally Everybody, including yours truly, expected a rate cut, given the dismal GDP growth in the September quarter. We had argued a rate cut would not be of much use, but had little faith in the MPC’s intestinal fortitude for straying from the beaten track. Mea … [Read more...] about Moneycontrol Pro Weekender: The curious incident of the MPC in the slowdown