US Fed

The US Federal Reserve (Fed) and the Reserve Bank of India (RBI) should hike once more by about 25 basis points each, says Rahul Arora CEO-institutional equities at Nirmal Bang

So far in 2023, the rupee has gained 0.5 per cent against the US dollar

The Fed's relentless rate hikes to rein in inflation have been partly blamed for sparking the biggest meltdown in the banking sector since the 2008 financial crisis

The trading activity in the domestic equity markets is likely to remain volatile this week as investors will focus on global cues such as the outcome of the US Federal Reserve meeting and the US banking crisis due to lack of local triggers, analysts said. FII activity and movement in the rupee and oil prices will also be watched by traders as global trends have been dictating the direction of the local stock markets currently, they added. Benchmark Sensex and Nifty declined by around 2 per cent last despite a recovery in the last two sessions due to selling in financials, IT, auto and banking stocks as fears of contagion of the US banking crisis kept investors on the edge. The US banking crisis remained at the centre stage keeping the participants on their toes. Besides, the continuous outflow the foreign funds added to worries, analysts said. "In absence of any major domestic event, the focus would be on the upcoming FOMC meet scheduled on March 21-22. Besides, movement in crude a

As the upgraded crew took over, it fired off a series of formal warnings to the bank's leaders, pressing them to fix serious weaknesses in operations and technology

The data also showed $11.9 billion in borrowing from the Fed's new emergency backstop known as the Bank Term Funding Program, which was launched Sunday

Most Asia Pacific financial institutions are not exposed to the failed US banks and are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was, Moody's said on Tuesday. On March 12, US regulators closed Signature Bank, just two days after shutting Silicon Valley Bank, following mass withdrawals of customer deposits from these regional banks. Moody's Investors Service said these events are likely to result in a tightening of liquidity in debt markets globally as investors grow wary. However, the impact will be limited for most rated financial institutions in Asia-Pacific (APAC) because of structural factors. "Also, most APAC institutions are not exposed to the failed US banks, and only a handful of institutions has immaterial exposures. Finally, most institutions are not as susceptible to large losses from debt security holdings as Silicon Valley Bank was," Moody's said. The US-based rating agency said rated banks in APAC structurally have stable .

Mark-to-market impact on Indian banks seen limited thanks to HTM provisioning

Fearing contagion would upend the industry, the US Federal Reserve, Treasury Department and Federal Deposit Insurance Corp. moved quickly over the weekend to protect customer deposits

According to Jefferies, analysts' consensus revenue growth estimates for CY24 have been lowered for top clients of all IT firms, barring Wipro, with the highest cuts for HCL Tech and Tech Mahindra

India, according to them, is among the more sensitive markets to US rates, and demonstrates the most sensitivity to local rates given higher influence of domestic flows into the market

The dissonance in the data will be a key puzzle for policymakers to resolve as they plot their next interest rate moves

The market sentiment got a boost from jobs and services data in the US, which hinted at a cooling economy prompting bullish bets from investors

CLOSING BELL: TCS, Maruti, Divis's Labs, HDFC Life and Dr Reddy's were among the handful of stocks that held minor gains

The US Federal Reserve indicated it will raise interest rates further next year, even as the economy slips toward a possible recession. On Thursday, the Bank of England and the European Central Bank r

Only two of 19 Fed officials saw the benchmark overnight interest rate staying below 5% next year

CLOSING BELL: Among sectors, the Nifty IT index fell 1.5 per cent, while the Nifty PSU Bank index gained 1.2 per cent

In the last 7 days, Bitcoin (BTC) rose over 3 per cent and was trading at $16,970 on Friday. Ethereum (ETH) was up nearly 9 per cent and was trading at $1,280

CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.

Elon Musk on Wednesday said the US Federal Reserve needs to immediately cut interest rates as a severe recession is looming, ahead of the speech by Fed Chair Jerome Powell at a US event on the outlook