Latest Stock Market News

Nasdaq futures made the early running with a rise of 1.0%, while S&P 500 futures bounced 0.6%. Recently, both have had a habit of gaining in Asia only to turn tail once London and New York open.

Right now, who can blame sellers for holding back? The alternative is the challenge of trying to find willing buyers in astock market down 20% this year as surging inflation, aggressive central bank interest rate hikes and the risk of a global recession erode sentiment.

During the pandemic, factors like fully digital onboarding by stockbrokers, easy access to information, and quick fund transfers via UPI led to a boost in retail participation in the stock market.

According to one of the officials quoted above, the focus is on creating requisite infrastructure in coal and iron ore bearing regions of Bihar, Odisha and Jharkhand.

Risk assets came under severe pressure last week, and the Nifty declined in line with global indices with a loss of almost 6%. Apart from FMCG, almost every sectoral indices lost more than 5%, with deep cuts seen in Technology and Metal space

The previous week was marked as the worst for domestic markets in more than two years. Benchmark indices cracked 5.5-6 per cent during the week as the Nifty plunged about 1,000 points, whereas the Sensex retreated close to 3,000 points. ETmarkets.com discussed the price action and roadmap for the upcoming weeks

Despite the recovery, gold ended the week lower with a decline of nearly 2 per cent.US inflation data released earlier this month showed that consumer prices rose at the fastest pace in 40 years. The sustained rise in price pressure fueled expectations that the Fed may fasten the pace of monetary tightening.

The week saw US bond yields inverting, raising fears of a recession. The Fed also hiked the policy rate by 75 basis points and hinted at a similar rate hike in the next meeting.

US-based exchanges have indicated a freeze in hiring for the rest of the year.While this bear market plays out, we look at some positives in terms of adoption and other stories of the week below.

“Some of the leaders for the next boom will be different but at least it would not be like what we see in the US where many loss-making companies had become the darlings of the market. Sectors like chemicals may go out of fashion but there will not be as much change as I expect to see in the US.”