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Business News Highlights: Stock Markets Mark Holi Leave, Investors To Clock Macro Data 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 exhibited volatility last week before closing the trading in green. In the last trading session on Friday, the key equity benchmarks, Sensex and Nifty ended in gains after recovering the losses made in the early trading hours. The BSE Sensex climbed nearly 200 points and touched 72,832, while the NSE Nifty50 settled higher by 85 points and hit 22,097.
The markets are observing a holiday on Monday to mark the festival of Holi. In the remaining week, investors will await the announcement of macroeconomic data at the global and domestic level. At the global level, the United States is set to release its quarterly GDP figures, along with the home sales, durable goods orders, personal income, and spending numbers in the week.
US Federal Reserve Chair Jerome Powell will also deliver his speech towards the end of the week and share an insight on the outlook for inflation and interest rate cuts ahead. Domestically, India will reveal its current account and external debt figures in the latter half of the week.
The foreign portfolio investors (FPIs) injected more than Rs 38,000 crore in Indian equities in March so far. The investors remained bullish over the debt market and poured in Rs 13,223 crore in the segment as of March 22, official data from the depository revealed.
V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, elaborated on the debt market sentiment and said, “The fundamental reason for this sustained FPI flows into debt is the inclusion of Indian bonds in the JP Morgan EM Bond Fund and Bloomberg Bond Index, which is expected to bring investment of around $25 billion. This investment will begin only by June 2024, and therefore, FPIs are doing some front running in view of this potential investment.”
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Amul To Launch Fresh Milk Products For First Time Outside India
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