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One of the persons aware of the development said German parent Metro AG is concerned about the regulatory environment in India and the ‘swadeshi versus videshi’ debate. Lobby groups representing Indian retail companies have upped the ante against overseas retailers, alleging violation of FDI norms, which the foreign companies have always denied.

The dollar index continued to climb on Monday to 109.16, up 0.3% in early trade. A stronger dollar weighs on oil as it makes crude more costly for buyers holding other currencies.However, oil prices have been buoyed by talk from Saudi Arabia and other members of the Organization of the Petroleum Exporting Countries and allies, together called OPEC+, that they could cut output in order to balance the market.

Nudged by infrastructure companies and developers, the lobby of lenders recently approached the central bank to let banks assess the risk of an infrastructure company based on its cash flow and nature of counterparties.

"Powell made it clear that there is no dovish pivot as some market participants had expected," Carol Kong, senior associate for currency strategy and international economics at Commonwealth Bank of Australia.

"The broader market indices are expected to catch up with benchmarks as Nifty Midcap and Nifty Smallcap indices have given a breakout from an eight-month falling channel along with a strong thrust on breadth as measured by the percentage of stocks above 200 DMA increasing sequentially from the June reading of 14% to 50% currently, suggesting broad-based participation that augurs well for the longevity of uptrend."

The dollar index, which measures the value of the US greenback against a basket of other foreign currencies, gained 14 percent so far this year. This was primarily due to the aggressive rate hike decision of the US Federal Reserve and global investors moving assets to the perceived safety of the US amid geopolitical tensions.

Market participants had their ears trained to catch any hint of change of monetary-policy stance and to get a sense of the trajectory of inflation. While higher interest rates, slower growth, and softer labor market conditions will bring down inflation, it will also bring some pain to households and businesses. He relied on the historical record that cautions strongly against prematurely loosening policy.

Most people buy thinking that it will go up and I will make money quickly, but how quickly is something people do not factor. In options, you lose money very fast because you are always constantly fighting the time value and markets

Friday’s US slump further shriveled a global bounce in shares from June bear-market lows that was predicated partly on bets of a Fed shift to rate cuts next year as growth slows. Powell spelled out the need for sustained restrictive policy, comments that lifted the US two-year Treasury yield toward 2022’s high and sent investors scurrying to the dollar as a shelter from volatility.

With a rally of 4.4 per cent, Nifty PSU Bank index was among the top gainers in the week with Central Bank of India, Indian Bank, PNB and Bank of Baroda leading the upside. Jatin Gohil, Technical & Derivative Research Analyst at Reliance Securities, says Bank of Baroda has surpassed its hurdle convincingly, while Canara Bank and Indian Bank are poised for fresh up-moves.