The markets are expected to open gap-down again today, extending the bearish momentum from yesterday. Brace for increased volatility as uncertainty prevails.
* The Indian stock market experienced a widespread decline on Thursday, influenced by a global sell-off.
* The downturn was primarily driven by the US Federal Reserve’s hawkish stance on interest rates, which has created uncertainty in the markets.
* GIFT Nifty indicated a negative start for the trading day, reflecting the bearish sentiment in Asian shares.
* On Friday, ten stocks, including Bandhan Bank and SAIL, were placed under F&O trade bans due to high open interest exceeding market-wide position limits.
* International Gemmological Institute (IGI) shares are debuting on exchanges with an expected 33% listing gain, driven by a grey market premium of Rs 135.
* The IPO was highly successful, being subscribed 35 times, and will fund acquisitions and general corporate purposes, including the consolidation of global operations.
The Federal Reserve’s recent hawkish stance has led to significant currency depreciation in emerging markets, prompting central banks from countries like India and South Korea to intervene.
* The Indian rupee has plummeted to an all-time low, with the Reserve Bank of India actively selling dollars to stabilize the currency.
* The dollar has surged to a two-year high, driven by hawkish U.S. interest rate projections, while the yen has fallen to a five-month low due to the Bank of Japan’s decision to maintain steady rates.
Gold prices are set for a weekly decline as the Federal Reserve indicates a slowdown in interest rate cuts, impacting gold’s appeal.
* Investors are awaiting U.S. PCE inflation data for further economic insights, with expectations of cautious monetary policy from the Fed.
