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A hard landing in the US has become the base case for many economists, particularly after the recent banking-sector turmoil. However, Morgan Stanley’s global chief economist, Seth Carpenter, believes there are still signs a soft landing can be achieved. Carpenter says that whilst it is hard to avoid the fact that the US economy will slow down, the Federal Reserve has a chance to avoid a recession by assessing whether there is enough evidence that things are slowing down a lot, but not yet crashing.

Further rate action depends on the data, on realisations of inflation and growth and their impact on expected future values. If growth continues to be resilient and inflation continues to soften, rates may not need to rise.

Inflation or at least projected inflation would have to fall much closer to the target for the MPC to have the headroom to act against a growth slowdown.

Oilfield services giant SLB beat Wall Street estimates for first-quarter profit, as elevated crude prices and tight supplies increased demand for its services.

Marcrotech Developers Q4 Results: PAT jumps 40% YoY to Rs 1,769 crore on record pre-sales

Macrotech Developers on Saturday announced that its board has approved issue of bonus shares in the proportion of one new fully paid up equity share of Rs 10 each for every existing share of Rs 10 each held by members of the company on record date.

The bottomline was far ahead of an ETNow poll of Rs 16,759 crore. The revenue was tad lower than the estimated Rs 2.22 lakh crore.

As India celebrates Akshaya Tritiya, a day when people buy gold for religious reasons, investors are questioning the prudence of putting their money into gold due to its record high prices. A Kotak Securities report suggests that Indian jewellery demand may falter as a result of these high prices, but that demand for gold from central banks and through exchange-traded funds (ETFs) may remain steady. Some experts expect gold to remain bullish, with prices potentially rising until the next Akshaya Tritiya festival, while others expect volatility on the MCX over the rest of 2023.

Senior Technical & Derivative analyst at LKP Securities, Kunal Shah, has said the range of the Indian markets for the expiry week is 17,500-17,800, and a move outside of this range would be decisive. Shah added that if the Nifty50 retains 17,500, the upward trend would resume, possibly towards 18,000-18,200. In terms of the IT industry, Shah suggested avoiding the sector and capitalising on any pullback rallies to exit or establish new short positions.

Good thing would be if the US market bottoms out, that will help emerging markets and India to get flows back and we could then see a rally happening but a lot will depend on how the US market ultimately performs, according to independent market expert Ajay Bagga.