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The Fed is likely done raising interest rates, according to a strong majority of economists polled by Reuters, and a slight majority now expect the central bank to wait at least through end-March before cutting them.

Disappointment at the meagre move saw Chinese blue chips ease 0.3%, while the Australian dollar took a dip as a liquid proxy for China risk. Investors have been hoping for a repeat of the massive fiscal spending that has juiced the economy in the past, but Beijing seems reluctant to add to its borrowing tasks.

A relentless Treasury-market selloff this month wiped out what was left of year-to-date gains that at one point exceeded 4%. Next week, the US Treasury will sell 20-year bonds and 30-year inflation-protected bonds, demand for which is notoriously unpredictable.

Marquee investor Ashish Kacholia sold part of his stake in aesthetic solutions provider SJS Enterprises for Rs 11.6 crore through the open market on Friday.

It is a one-day candlestick pattern wherein there is a small green real body and lower shadow extending from the body and is formed at the bottom of a downtrend.​

Economists are slashing their Chinese GDP growth forecasts and many doubt Beijing will meet its 2023 goal of 5.0%. Deflation, slumping trade activity and an imploding property sector are the familiar and increasingly serious risks.

Recoveries for all large banks were lower than a year ago and down from what they were in March. For example, State Bank of India’s (SBI) recoveries and upgrades were at Rs 3,607 crore in June 2023 down from Rs 5,208 crore a year ago and Rs 4,200 crore reported in March 2023. The trend is the same for Punjab National Bank (PNB), Bank of Baroda (BoB), ICICI Bank, HDFC Bank and Axis Bank.

In a previous interaction with ET in April, Kamath had estimated a 30-40% dip in the company’s overall revenue in 2023-24 as account openings were down 50-60% from all-time highs.

​Till Nifty holds below 19,420 zone, overall weakness could be seen towards 19,100 and 18,888 zones, whereas the hurdles are placed at 19,420 and then 19,560 zones.

A healthy correction is on. Right now, market trends are a lot dependent on the trends in FII behaviour. When FIIs were buying continuously for 15-20 days last month, it took the Nifty to nearly 20,000.