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.
Consumer Forum Finds Flipkart Guilty Of Unfair Trade Practices
The Consumer Disputes Redressal Commission found Flipkart guilty of engaging in unfair trade practices and instructed it to pay a customer Rs 10,000 for the mental distress he endured following the cancellation of his iPhone order. The District Consumer Disputes Redressal Commission in Central Mumbai confirmed that the cancellation was done to make additional profit, which amounts to a deficiency in service and unfair and restrictive trade practices adopted by the online platform, PTI reported.
Google Meet Rolls Out New Feature
Google Meet recently introduced a new feature to enhance presentation quality for meetings across the web version of the app. The feature, titled 'portrait touch-up' allows users to subtly make changes and achieve their desired appearance.
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