Business News Highlights: Market To Observe Meeting Minutes, PMI Data, Global Trends In The Week

Business News Highlights: Please follow this space for all the breaking news and latest updates from the Stock Market, economy and corporate world

Background

Business News Highlights: Hello and welcome to ABP Live's Business LIVE blog. Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and the corporate world.The stock market last week managed to recover the losses from the earlier week and jumped over 1 per cent to inch closer to the record high, amidst uncertainty regarding the beginning of the rate cut cycle. The key equity benchmarks, Sensex and Nifty, ended higher in the week. The BSE Sensex climbed 1.16 per cent to 72,427, and the NSE Nifty50 gained 1.19 per cent to 22,041. The positive trajectory in the market is anticipated to continue in the week, with investors keenly observing the major takeaways from the Fed and RBI’s meeting minutes, along with macroeconomic indicators scheduled to be released ahead. Commenting on the market movements, Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services, said, “We expect market sentiment to strengthen further as the prospect of a pre-election rally is quite strong. Two important pre-poll surveys by India Today and Times Now predict a more than a comfortable majority (272+ seats) for the incumbent BJP-led NDA.”On the global front, the Federal Open Market Committee (FOMC) January policy meeting’s minutes are scheduled to be released on Thursday and are estimated to provide experts an insight into the interest rate trajectory going forward.Amongst other economic data, several Fed officials are scheduled to deliver speeches in the week, such as Bostic, Jefferson, Harker, Cook, and Waller, among others, reported Moneycontrol. These addresses will provide insight into the US regulator’s next decision on interest rate cuts. Europe’s January inflation numbers, in addition to manufacturing and services PMI flash data are scheduled towards the end of the week. The US will see jobless claims, and existing home sales, along with prominent PMI numbers released on Thursday.Domestically, the Reserve Bank of India will also release its monetary policy meeting minutes in the latter half of the week. The details are anticipated to provide clues about policy changes to investors and experts. Further, the HSBC PMI Flash numbers for the manufacturing and services sector are set to be released on Thursday, while the foreign exchange reserve data for the week will also be updated soon.

18/02/2024 18:06:06

Etihad Plans To Log 35-40 Per Cent Growth In 2024

Gulf airline Etihad logged a robust growth in the domestic market after the pandemic and expects to add more Indian passengers to its clientele in the year, the airline's chief revenue and commercial officer, Arik De, revealed while speaking with PTI. The airline clocked 3 million Indian passengers in 2023. "We grew capacity by over 40 per cent and then in 2024 we plan to finish the year with around 35-40 per cent further growth," he added.

18/02/2024 16:55:04

FPIs Offload Indian Equities Worth Rs 3,776 Crore In Feb So Far

Foreign Portfolio Investors (FPIs) sold Indian equities worth Rs 3,776 crore in the month so far, and poured in Rs 16,560 crore in the debt market in the country, official data with the depositories revealed.

18/02/2024 16:14:46

Former YouTube CEO Susan Wojcicki's Son Found Dead

Former YouTube CEO Susan Wojcicki's son, Marco Troper, was reportedly found dead in his dorm at the University of California, Berkeley, on February 13, 2024. The 19-year old's death was confirmed by his grandmother Esther Wojcicki, who shared it in a post on social media platform, Facebook, on February 14. 

To Read More, Click HERE

18/02/2024 15:32:29

Sundaram Alternates Assets Plans To Raise Rs 1,000 Crore For Green Real Estate Projects

Sundaram Alternates Assets (SAA) aims to garner about Rs 1,000 crore from global investors to finance green real estate projects in the country. SAA is the private equity wing of Sundaram Finance Group.

18/02/2024 14:31:41

Zee Seeks Refund Of Rs 68.54 Crore From Star India For Violating ICC Matches Broadcasting Norms

Zee Entertainment Enterprises recently accused Star India of breaching the agreement terms agreed upon between the firms regarding the television broadcasting rights of the ICC cricket matches and asked the latter to refund Rs 68.54 crore for the violation.

18/02/2024 13:18:37

Hybrid Mutual Fund Schemes Log Inflow Of Rs 20,634 Crore In Jan

Hybrid mutual fund schemes saw an influx of Rs 20,634 crore in January, up by 37 per cent against the inflow of Rs 15,009 crore seen in the previous month. This surge was attributed to the increasing popularity of the funds as an alternative investment avenue after the changes in taxation laws for debt funds.

18/02/2024 12:49:37

India's Major Cities Log 8 Per Cent Growth In Complete Housing Units In 2023: Anarock

Seven major cities across India saw 4.35 lakh housing units get completed in 2023, higher by 8 per cent against 4.02 lakh units completed in the previous year, a survey by real estate consultant Anarock revealed. The data referred the primary residential market. 

18/02/2024 11:48:00

BCAS Instructs Airlines To Ensure Passengers Receive Full Baggage Within 30 Minutes Of Flight Landing

The Bureau of Civil Aviation Security instructed airlines to make sure that passengers receive all their baggage within 30 minutes of their flight landing at the airport. The announcement from the regulator comes against recent delays faced by passengers in receiving their baggage at airports. The body issued the mandate to seven scheduled airlines, namely Air India, IndiGo, Akasa Air, SpiceJet, Vistara, AIX Connect, and Air India Express, reported PTI.

18/02/2024 10:51:00

6 Out Of Top 10 Firms See M-Cap Erode By Rs 71,414 Crore Last Week

The overall market valuation of 6 out of the top-10 most valued firms degraded by Rs 71,414 crore last week. Out of the top-10 firms, LIC emerged as the biggest laggard, while SBI, Infosys, HDFC Bank, ICICI Bank were among the gainers.