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He said online education, despite all its advantages, is not the solution to all problems and as the world goes back to normalcy, the industry has started going back to a hybrid mode of learning - the schools have albeit started going back to classrooms.

On July 6, the Reserve Bank of India (RBI) permitted banks to garner FCNR (B) and NRE deposits from the Indian diaspora without any interest rate cap. Such relaxations are available until October 31 and November 4, respectively. The central bank also relaxed rules for external commercial borrowings, seeking to arrest the outflow of funds and ease pressure on the rupee.

"We have forecast double-digit growth this festive season over the festive months of 2019," said Vishal Chaturvedi, vice-president (South Asia), The Body Shop. "This includes gifting across various upcoming festivals, Diwali and the wedding season. People are also coming back to physical stores after the last two years of stress, which were bad for us as well."

"The key question is whether it will decide that a material rise in the unemployment rate is necessary to achieve its objectives," he warned. "If this is the case, its guidance on rates will move significantly higher, alongside a message that it will likely prove to be less sensitive to near-term growth disappointments."

Airtel, Adani Ports, Power Grid, Samvardhana Motherson, Delhivery, Indian Hotels, UNO Minda, Vedant Fashions, Torrent Power, Whirlpool and Nalco are among the companies that will announce their earnings for the quarter ended June 2022.

“Overall, the earnings season in India was in line with expectation, while revenue growth was ahead of expectation, indicating a healthy demand environment,” said Surjitt Singh Arora, Portfolio Manager-PMS, PGIM India.

“From a three-year perspective, given the strong cash flows and business fundamentals, valuations are coming into an attractive zone,” he said.As a result, banks could see better profitability. In addition, given better asset quality metrics, healthy provisions and sufficient capital levels, we remain positive on this space. Credit growth will be key for outperformance.

Russia has been facing several economic sanctions from the US and European Union after its inversion of Ukraine. This includes freezing the assets of the Russian central bank, barring Russian banks from international transactions, and limiting imports of Russian oil and gas. The European Union also announced plans to reduce demand for Russian gas by two-thirds and make Europe independent from Russian fuels by 2030.

“As long as Nifty stays below the hurdle of 17,500 levels, there is a possibility of muted movement in the market. A sustainable move above 17,500 could open the next upside targets of 17,800-17,900 levels in the near term. Immediate support is placed at 17,200 levels,” he said.

Bitcoin started the week trading above the $23,000 level but fell to $22,000 due to increasing pressure, US central bank’s latest interest rate hike, and ongoing tension between China and Taiwan. However, bulls have succeeded in recapturing the $23,000 back the crypto lost its weekly gains.