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Axis Bank, Tata Steel, Tech Mahindra, Macrotech Developers, Canara Bank, GSK Pharma, Solar Industries,Central Bank of India, KPIT Technologies, IEX and IIFL Wealth are among the companies that will announce their earnings for the quarter ended June 2022.

Yellen said inflation "is way too high" and recent Federal Reserve interest rates hikes were helping to bring soaring prices back in check. Yellen, who previously served as chair of the Federal Reserve, hopes the Fed can cool the economy enough to bring down prices without triggering a broad economic downturn. Yellen said that even if the second-quarter figure is negative, it would not signal that a recession has taken hold, given the strength in the job market and strong demand.

"The SSE should fully understand the huge political significance of the 20th Party Congress, and effectively maintain stability of the capital market," according to the statement, published after the SSE held an internal meeting last week.

HDFC Bank has a market capitalisation of about $108 billion. It has recently edged past Citigroup (over $100. 5 billion), which was at number 17. HDFC Bank is worth more than UBS and DBS Group (both valued at around $58 billion). The country’s largest lender SBI ($57 billion) is at number 32 ahead of BNP Paribas ($55 billion) in terms of valuation.

​​Banks including State Bank of India and Axis Bank have doubled consolidated balance sheet size to $35 billion in the last two years since the unified regulator assumed formal status. Prime Minister Narendra Modi is likely to visit GIFT City this Friday after a gap of five years, launching a host of new initiatives.

Ahmedabad-based drug major Torrent Pharma is reportedly set to foray into the diagnostics business, although a formal announcement is awaited. Last year, its Mumbai-based peer Lupin made an organic foray into the ₹70,000-crore sector. Mankind Pharma and Reliance Life Sciences are other large players that have entered the sector.

The cryptocurrency market crash in June 2022 was spurred by momentary de-risking from Wall Street as several investors now feel highly pessimistic regarding the economy due to increasing inflation, a vulnerable stock market, and rising interest rates.

Anand James, Chief Market Strategist at Geojit Financial Services, said that while major falls are not expected unless 16,485 gives away, the prospects of the same in the next week may rise should Nifty find unable to push beyond the 16,690-710 region.

There is widespread speculation that the US Fed in its July 26-27 meeting may increase the interest rate by 50-75 basis points, which could result in flight of capital from emerging nations like India. With dollar outflow and elevated level of crude oil prices, the rupee would see further depreciation.

While the BSE Bank index has risen by 5 per cent since the beginning of 2022, as against a decline of nearly 4 per cent in the BSE benchmark Sensex, some key banking stocks like Bank of Baroda have rallied by 30-40 per cent in the same period, as per the stock exchange data.