Page 16 - Interest Rate Hike

Markets surge amid 'peak inflation' optimism, gain now 4% in 4 days

Sensex closes at highest level since June 6; Up 8% from CY22 lows

US existing homes sales fall to a two-year low as prices hit record high

Contract closings fell 5.4% from May to an annualized 5.12 million, figures from the National Association of Realtors showed Wednesday.

Copper rises from multi-month lows as upbeat sentiment lifts base metal

A weaker U.S. dollar in recent days has also helped metals, which are priced in the greenback, by making them cheaper for buyers with other currencies.

Investor sentiment in doldrums, growth optimism hits record low: BofA study

Survey shows while inflation is seen falling, mood is stagflationary; recession expectations highest since May 2020; global growth and profits at all-time lows, cash levels highest since 9/11 attacks

Inflation and market condition are still concerns: HUL CMD Sanjiv Mehta

Mehta also suggested that the government could use the "huge amount of reserves" to prevent the rupee from depreciating rapidly.

RIL, banks lift Sensex 246 pts, Nifty tops 16,300; Rupee ends at 79.95/$

CLOSING BELL: The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India

Euro rallies after report that bigger ECB rate hike is on the cards

The euro rose to as high as $1.0254, up 1.1% on the day and its strongest since July 6 as money markets priced in a 60% chance of a 50 basis point hike on Thursday, up from 25% on Monday.

Euro at one-week high, rowback in Fed rate hike bets knocks dollar

The comments late last week knocked the dollar off two-decade highs and boosted global stocks and non-dollar currencies, especially the euro.

Sensex zooms 760 pts, Nifty tops 16,250; IT index up 3%, HDFC Bank dips 1%

CLOSING BELL: The frontline indices climbed on the back of gains in Infosys, ICICI Bank, Kotak Bank, TCS, Axis Bank, L&T, SBI, and Reliance Industries

HDFC Bank lost Rs 50k-cr corporate loans as competitors offered lower rates

Merger-related dispensations separately handled by RBI, says HDFC Bank CFO Srinivasan Vaidyanathan

Market may be less sensitive to Fed meetings in H2CY22: Bernstein MD

'We still see a range-bound market but have lowered the range to 13,500-16,000 for the Nifty50'

Unsafe haven: Gold set for fifth weekly loss as US dollar strengthens

Spot gold was down 0.3% at $1,704.99 per ounce, as of 0916 GMT, and lost 2.2% so far this week. U.S. gold futures eased 0.2% to $1,701.90.

Wall Street climbs as investors trim bets on rate hike; Dow up 500 points

The S&P 500 was up 50.87 points, or 1.34%, at 3,841.25, and the Nasdaq Composite was up 120.63 points, or 1.07%, at 11,371.81

Rising interest rates, inflation to affect affordable HFCs' growth: Report

Rising interest rates, higher inflation and increasing cost of construction are likely to slow down growth of affordable housing finance companies in the current fiscal, a report said on Thursday. Affordable housing finance (ticket size below Rs 25 lakh) has proven to be one of the most resilient sectors to economic cycles and seen rapid progress over the past decade, India Ratings and Research said in a report. With 25 per cent compound annual growth rate, the affordable housing sector has outpaced the overall housing finance sector growth in the past five years. However, some tailwinds that had supported the sector earlier seem to be moderating and thus could slow down the pace of sector loan growth, it said. "Rising interest rates, reduced cash flow of borrowers on account of the high inflation rate, increasing cost of construction, leading to both a rise in property costs and slowdown in new inventory launches, and halting of the government's Credit-linked Subsidy Scheme (CLSS)

Banks' asset-quality risk to be moderate after RBI rate hike: Fitch Ratings

'Mounting repayment pressure for some borrowers amid India's interest rate hikes, particularly for micro, small and medium-sized enterprises, will test banks' loan underwriting quality'

UK economy unexpectedly jumps in May as doctors and travel agents get busy

Britain's new finance minister, Nadhim Zahawi, welcomed the signs of growth but said there was no room for complacency

Oil slips below $100 again as gasoline, food drive US inflation higher

Despite a tight physical oil market, investors have sold oil futures on worries that aggressive rate hikes to stem inflation will slow economic growth and hit oil demand.

Gold slips to near 1-year low as US inflation jump bolsters rate hike bets

Spot gold was down 0.4% at $1,719.49 per ounce by 09:35 a.m. ET (1335 GMT), after dropping to its lowest since August at $1,707.09 earlier in the session. US gold futures were down 0.6% at $1,714.60

Economists see waning urgency for India's RBI to go for large hikes

Citigroup Inc. economists expect a 35 basis-point increase in borrowing costs at the Reserve Bank of India's next Monetary Policy Committee meeting in August, a move also predicted by Barclays Plc

SBI, ICICI Bank up interest rates on certain foreign currency bank deposits

According to SBI's website, the interest rate on US dollar category deposits with maturities up to 2 and 3 years are up by 85 basis points to 2.85 per cent and 3 per cent