Business News Highlights: Inflation Data, Interest Rate Decisions, PMI Numbers To Drive Markets Ahead
Business News Highlights: Please follow this space for all the breaking news and latest updates from the Stock Market, economy, and corporate world
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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 markets experienced a difficult trading week as the indices closed trading in the red after erasing the gains from the week. The BSE Sensex closed the last trading session at 72,485, down by over 450 points, while the NSE Nifty50 stood 123 points lower at 22,023.
In the week ahead, investors will keenly be on the lookout for foreign fund flows, rupee-dollar movements, the outcome of the US Fed policy rate meeting, along global trends. The US Federal Reserve will hold its monetary policy meeting, starting on March 19, 2024, and will announce the interest rate decision after the two-day meeting on March 20, 2024.
Experts believe that the US Fed will maintain the status quo on the interest rates. The Bank of Japan (BoJ) is also set to reveal its interest rate decision on Tuesday, followed by the Bank of England (BoE) coming out with its rate call on Thursday.
Further, more economic data from major nations is expected to be released in the coming weeks. The UK and the US are set to reveal their S&P Global Manufacturing and Services PMI data. Other important macroeconomic data expected ahead includes industrial production, unemployment figures from China, along with inflation data from the Eurozone, trade balance, and inflation figures from the UK and Japan. Domestically, the HSBC Manufacturing, Services, and Composite PMI data for India is scheduled to be released on Thursday.
The trading activity of foreign portfolio investors (FPIs) will also remain under watch as the investors lately started becoming consistent with their influx in the Indian market. The official data from the depositories revealed that FPIs poured Rs 40,710 crore into Indian equities and the overall influx stood at Rs 50,471 crore, as of March 15, 2024.
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Regional airline FLY91 is set to commence commercial flights on March 18 and expects to employ approximately 350 staff by the end of its inaugural year of operations and aims to achieve profitability within two years, Manoj Chacko, MD and CEO, said in an interview with PTI. The Goa-based airline presently operates with two ATR 72-600 planes and plans to augment its fleet with four aircraft in its first operational year. Chacko affirmed that there is currently no requirement to raise funds, as the airline is set to receive Viability Gap Funding (VGF) under the regional air connectivity scheme UDAN.
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