Blog for Stock tips, Equity tips, Commodity tips, Forex tips: Sharetipsinfo.com

Want to beat the stock market volatility? Just keep on reading this exclusive blog by Sharetipsinfo which will cover topics related to stock market, share trading, Indian stock market, commodity trading, equity trading, future and options trading, options trading, nse, bse, mcx, forex and stock tips. Indian stock market traders can get share tips covering cash tips, future tips, commodity tips, nifty tips and option trading tips and forex international traders can get forex signals covering currency signals, shares signals, indices signals and commodity signals.

  UseFul Links:: Stock Market Tips Home | Services | Free Stock / Commodity Trial | Contact Us

5G spectrum auction: Day 4 sale at Rs 232 crore; bidding to continue

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Analysts say that the war will end if one of the players blinks

5G service, telecom

On the fourth day of the ongoing spectrum auction, the government earned an incremental revenue of Rs 232 crore. The bidding continues as telcos are engaged in a race for spectrum in the 1800 MHz band in just one circle: Uttar Pradesh (East). The 1800 MHz band is meant mostly for 4G services.

After 23 bidding rounds, with seven on Friday, the government’s total revenue from the auction has touched Rs 149,855 crore. The bidding will resume on Saturday.

The price of the spectrum increased by more than 44.8 per cent over the base price of Rs 18.65 crore per block (each block of 0.2 MHz). And the demand continued to be in excess of supply, like it was on Thursday, with telcos collectively bidding for 75 blocks while the availability remains at 54.

While the government was able to rustle up a final bid amount of Rs 145,000 crore on day one in four rounds, it added only Rs 4,855 crore in the next three days after additional 19 rounds. In the last two days, the revenue has gone up by just Rs 401 crore.

ALSO READ: Has the 5G auction been a success?

Analysts say that the war will end if one of the players blinks. The telcos have made a total demand for 15 MHz of spectrum. This is much more than what is available (10.8 MHz). The excess demand is for 4.2 MHz, based on the numbers.

With 16 MHz of spectrum in 1800 MHz band in the UP (East) circle, Bharti Airtel is clearly looking to hit the 20 MHz mark, say analysts. They point out that Reliance Jio, with 10 MHz, might be wanting to double its spectrum. Even Vodafone Idea, with 10 MHz, may be in the race for the same in this circle.

Despite the auction hitting the fifth day, the price of the 1800 band in UP (East) at Rs 135.09 crore per MHz is still cheaper than the reserve price in the 2021 auction, experts explain. It was at Rs 153 crore a MHz then. So there may be a lot of action still left.

From the operators’ perspective, UP (East) for Bharti accounts for a substantial 10.2 per cent of its total subscriber market share. Bharti is ahead of Reliance Jio in the circle. However, it accounts for 7.6 per cent of Bharti’s overall revenue share. In the case of Jio, which is number two in the circle, it accounts for 8 per cent of its overall subscriber base and 7.19 per cent share of its revenues. For Vodafone Idea, however, it accounts for 7.82 per cent of its overall subscriber base but only 4 per cent of its overall revenues.

Except in UP (East), the base price in these auctions is equivalent to the market price, prompting industry stakeholders and analysts to point at a ‘’faulty’’ structure. This is mainly due to the steep base price

Speed up release of undertrial prisoners: PM Narendra Modi

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Addressing the first All India District Legal Services Authorities Meet here, Narendra Modi also said that ease of justice was as important as ease of doing business and ease of living.Speed up release of undertrial prisoners: PM Modi – Kashmir Reader

Prime Minister Narendra Modi on July 16 urged the judiciary to speed up the release of undertrials languishing in various jails awaiting legal aid. Addressing the first All India District Legal Services Authorities Meet here, he also said that ease of justice was as important as ease of doing business and ease of living.

"There are several undertrials in jails awaiting legal aid. Our District Legal Services Authorities can take up the responsibility of providing legal assistance to undertrials," the prime minister said.

Modi urged district judges attending the conference to speed up the release of undertrials using their offices as chairpersons of district-level undertrial review committees.

The prime minister noted that the National Legal Services Authority has started a campaign in this matter and urged the Bar Council of India to align more lawyers with this effort.

Share Market Closing Note | Indian Stock Market Trading View For 29 July2022

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Share Market Closing Note

Stock market highlights: Benchmark indices settled near the days high on Friday as investors lapped up metal and IT shares, along with index heavyweights like Reliance Industries, HDFC twins, Sun Pharma, and Bajaj Finance.Share Market Highlights: Sensex ends 246 pts higher, Nifty above 16300;  ICICI Bank, Axis Bank lead gains | The Financial Express

The S&P BSE Sensex soared 712 points, or 1.25 per cent, to end at 57,570, while the Nifty50 shut shop at 17,158, up 229 points or 1.35 per cent. In the broader market, the BSE MidCap and SmallCap indices, too, added over 1 per cent each.

Sectorally, the Nifty Metal index climbed 4 per cent, followed by the Nifty IT index (2 per cent). Public sector banks were the only losers with the Nifty PSB index down 1.2 per cent.

-------------------------------------------------------------------------------------------

Topic :- Time:3.15 PM

Nifty spot close above 17140 level will result in some further upmove in coming sessions and if it closes below above mentioned level then some sluggish movement will follow.

--------------------------------------------------------------------------------------------

Topic :- Time:2.45 PM

Just In:

New fund offer (NFO) review: Quant Large Cap Fund NFO will be open for subscription until August 3. investments. 

--------------------------------------------------------------------------------------------

Topic :- Time:2.20 PM

Just In:

Ashok Leyland Q1 result |Profit at Rs 68 crore, revenue up 145%.

--------------------------------------------------------------------------------------------

Topic :- Time:2.10 PM

Nifty is highly rangebound. Nifty spot if manages to trade and sustain above 17100 level then expect some upmove in it and if it breaks and trade below 17060 level then some decline can follow in Nifty.

--------------------------------------------------------------------------------------------

Topic :- Time:1.30 PM

ZINC Trading View:

ZINC is trading at 290.60.If it breaks and trade below 290.30 level then expect some decline in it and if it manages to trade and sustain above 291.00 level then some upmove can follow in it.

--------------------------------------------------------------------------------------------

Topic :- Time:1.15 PM

Just In:

Textile exporters reach out to big Australian companies.

--------------------------------------------------------------------------------------------

Topic :- Time:1.00 PM

Nifty is highly rangebound. Nifty spot if manages to trade and sustain above 17120 level then expect some upmove in it and if it breaks and trade below 17080 level then some decline can be seen in the market.

--------------------------------------------------------------------------------------------

Topic :- Time:12.30 PM

GOLD Trading View:

GOLD is trading at 51640.If it manages to hold above 51550 level then expect some quick upmove in it and it is likely to test 51850 level soon. Buy on decline till it holds above 51550 level. Once it breaks and trade below 51550 level then some decline can follow in it.

--------------------------------------------------------------------------------------------

Topic :- Time:12.10 PM

Nifty spot if manages to trade and sustain above 17120 level then expect some quick upmove in the market and if it breaks and trade below 17080 level then some decline can be seen in the Nifty.

--------------------------------------------------------------------------------------------

Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex up 500 pts; Tata Steel surges 7%, Dr Reddys sheds 4%

2. PM Modi to launch Indias first international bullion exchange in Gujarat

3. First global gold exchange in India aims to create regional bullion hub

4. Rupee gains vs dollar as weak US GDP data softens Fed rate hike view

5. Irdai may offer more flexibility to insurers in corporate agency tie-ups

6. ReNew to invest $8 billion to set up green hydrogen plant in Egypt

7. SBI Life Insurance rallies 9.5%, hits new 52-week high on strong Q1 results

8. Ashok Leyland soars to a 4-year high, up 6% ahead of June quarter results

9. TVS Motor surges 10%, hits all-time high post strong June quarter results

10. Centre likely to allow 1.2 MT additional sugar exports this season

--------------------------------------------------------------------------------------------

Topic :- Time:11.00 AM

After gap up opening nifty is trading little volatile now in a range. Nifty spot if manages to trade and sustain above 17080 level then expect some upmove in the market and if it breaks and trade below 17020 level then some decline can follow in it.

--------------------------------------------------------------------------------------------

Topic :- Results on July 29 and July 30

HDFC, NTPC, Sun Pharma, Cipla, Indian Oil Corporation, Ashok Leyland, DLF, Emami, Exide Industries, Nazara Technologies, Piramal Enterprises, CARE Ratings, CarTrade Tech, Cholamandalam Investment, CreditAccess Grameen, Deepak Fertilisers, Easy Trip Planners, 3i Infotech, Great Eastern Shipping, GMR Infrastructure, Godrej Agrovet, Heritage Foods, JK Paper, Mahindra Logistics, Metro Brands, Rain Industries, Route Mobile, Strides Pharma Science, Star Health and Allied Insurance Company, Torrent Pharmaceuticals, VST Industries, and Zydus Wellness will be in focus ahead of June quarter earnings on July 29.

--------------------------------------------------------------------------------------------

Topic :- Nifty Opening Note

Indian Stock Market Trading View For 29 July2022:

USA is officially into recession state now. However it is already discounted. Stock specific action expected in the market. Result figures to be monitored. 

Nifty future if manages to trade and sustain above 16960 level then expect some upmove in the market and if it breaks and trade below 16880 level then some decline can follow in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day. 

--------------------------------------------------------------------------------------------



PNB raises asset quality guidance, aims to lower net NPA to 3.5% by March

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Gross NPAs reduced to 11.27% in April-June quarter from 14.33% a year ago; eight accounts worth Rs 2,486 cr will be transferred to NARCL

Punjab National bank

State-owned  has raised its asset quality guidance and seeks to lower net  (NPA) to 3.5 per cent by March 2023-end from 4.28 per cent on June 30, 2022.

The Delhi-based lender had earlier projected lowering net  to sub-4 per cent level by end of the current fiscal.

“...On account of actions taken by the bank, net  is going to be reduced to 3.5 per cent definitely by March 2023. I’m confident of achieving this number,"  managing director Atul Kumar Goel said at the post-earnings press conference.

In April-June, PNB’s net NPAs declined to 4.28 per cent from 5.84 per cent a year ago and 4.8 per cent in January-March 2022. In absolute terms, the net  of the  stood at Rs 31,744 crore on June 2022, versus Rs 38,581 crore in June 2021.

The lender’s gross NPAs reduced to 11.27 per cent in April-June from 14.33 per cent a year ago. Gross NPAs, in absolute terms, stood at Rs 90,167 crore on June 2022 as compared to Rs 1.04 trillion in June 2021.  seeks to bring down gross NPAs to single digits by the end of the current financial year, Goel said.

The bank has formed a team of about 300 officials who monitor all NPA accounts, Goel said. It is attempting to improve recoveries from bad loans and is monitoring all accounts including those on which Sarfaesi or NCLT proceedings are underway, he added.

Goel said the bank has made recoveries of over Rs 7,000 crore in April-June, and it expects to recover Rs 8,000-9,000 crore every quarter. It wants to ensure that its recoveries are higher than slippages, he added.

The lender has identified eight accounts worth Rs 2,486 crore that will be transferred to the National Asset Reconstruction Company Ltd (NARCL). All  collectively are expected to transfer bad loans of Rs 50,000 crore to NARCL, Goel said, who is also chairman of Indian  Association, and is spearheading the rollout of the government-backed asset reconstruction company.

On Friday, the bank reported a 70 per cent decline in net profit to Rs 308.4 crore in April-June. Goel said the dip was caused by a fall in treasury profit due to a rise in interest rates and mark-to-market losses. Treasury profit dropped from Rs 1,118 crore in June 2021 quarter to Rs 573 crore in April-June 2022, Goel said.

In April-June 2022,  took a hit of Rs 1,409 crore in MTM losses while in the June 2021 quarter, there was a reversal of MTM of about Rs 301 crore, he added.

Click Here:  Get Live Share Market Tips From Sharetipsinfo

India's FDI inflow hits all-time high of over Rs 6 lakh crore in FY22

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

India's inflow of foreign direct investment (FDI) struck an all-time high of over Rs 6 lakh crore in fiscal year 2021-22, the Ministry of Commerce and Industry said on July 29.India's FDI inflow hits all-time high of over Rs 6 lakh crore in FY22

India has received its highest ever FDI inflow of Rs 6,31,050 crores in financial year 2021-22," an official release noted.

Further, FDI equity inflow in manufacturing sectors has increased to Rs 1,58,332 crore in FY22 from Rs 89,766 crore in FY21, marking an increase of 76 percent.

In 2020-21, the inflow stood at USD 81.97 billion, it added.

“India is rapidly emerging as a preferred country for foreign investments in the manufacturing sector,” the ministry said.

“India has recorded highest ever annual FDI inflow of USD 83.57 billion in the Financial Year 2021-22,” it noted.

FDI equity inflow in manufacturing sectors has increased by 76 per cent in 2021-22 (USD 21.34 billion) compared to 2020-21 (USD 12.09 billion).

In terms of top investor countries, Singapore is at the top with 27 per cent followed by the US (18 per cent) and Mauritius (16 per cent) during the last fiscal.

Among sectors, computer software and hardware attracted maximum inflows. It was followed by the services sector and automobile industry, the ministry said.

To further liberalise and simplify FDI policy for providing ease of doing business and attract investments, reforms have been undertaken recently across sectors, such as coal mining, contract manufacturing, digital media, single-brand retail trading, civil aviation, defence, insurance and telecom.

More oil middlemen muscle in to supply India with cheap Russian crude

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Companies include Wellbred and Montfort have been marketing Russian oil to Indian buyers, joining the likes of Coral Energy and Everest Energy

oil prices

India is set to get more channels to buy cheap Russian oil, with a new wave of smaller, international traders muscling into its vast market by offering barrels shunned by rivals after the invasion of Ukraine.

State-run refiners such as Indian Oil Corp. are warming to the idea of buying from the lesser-known traders. Refinery officials said they’ve found it easier to work with them, rather than directly with Russian producers, as there’s less bureaucracy that slows negotiations with firms such as Rosneft PJSC.

graph

Companies include Wellbred and Montfort have been marketing Russian oil to Indian buyers, joining the likes of Coral Energy and Everest Energy as more traders emerge to fill the gap left by larger merchants such as Vitol Group, said the officials, who declined to be named. According to their websites, the companies have offices in Switzerland, Dubai and Singapore.

Nobody replied to emails sent to IOC, Wellbred and Montfort, and Rosneft did not respond to a request for comment. Traders and shipbrokers said they didn’t know much about the firms, except they handled fuels from time to time.

Trading houses often serve the function of middlemen by bridging differences between sellers and buyers. In theory, some companies can continue to work with Russian entities that’ve been sanctioned under certain jurisdictions, help with financing and logistics, and even offer different payment terms to assist in the movement of funds. Sri Lanka received Russian crude onboard a vessel chartered by Coral Energy in May and has since bought more from the trader.

“Indian refiners are willing to take the risk of dealing with these new, little-known traders because the discounts must be too good to pass up,” said Vandana Hari, founder of Vanda Insights. “We know the Indian refiners want the Russian cargoes on a delivered basis. So as long as the new traders are fulfilling that need, it works,” she added.

The new crop of merchants was recently offering supplies of Russian Urals crude at discounts of about $8 a barrel, according to officials. They are also beefing up staffing, they said. Wellbred’s employees include former individuals from larger companies such as Glencore Plc and Gunvor Group.

Some traders are offering payment options in alternative currencies such as United Arab Emirates dirhams, according to officials. Separately, India’s central bank has announced a plan to settle international trade in the local currency.

As the shift plays out, Indian Oil, the nation’s biggest processor, has been importing Russian oil at a record-breaking pace and overtaking its private peers, according to analytics firm Kpler. Inflows have averaged 450,000 barrels a day in July -- up 44% from last month -- while India’s overall purchases of Russian barrels rose 3% to about 1 million barrels a day, Kpler data show.

India’s traditionally more agile private oil processors, such as Reliance Industries Ltd. and Rosneft-backed Nayara Energy Ltd., had already doubled down on purchases from the smaller firms even before the world’s largest oil traders scaled back handling Russian crude exports in May.

Click Here:- Twitter warns against governments ramping up demands for user details


Twitter warns against governments ramping up demands for user details

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

The social media company revealed in a new report that it fielded a record number of legal demands nearly 60,000 during a six-month period last year - from local, state or national governments that wanted Twitter to remove content from accounts or reveal confidential information such as direct messages or user locations.Twitter warns against governments ramping up demands for user details - New  On News

Twitter warned that governments around the globe are asking the company to remove content or snoop on private details of user accounts at an alarming rate.

The social media company revealed in a new report that it fielded a record number of legal demands nearly 60,000 during a six-month period last year - from local, state or national governments that wanted Twitter to remove content from accounts or reveal confidential information such as direct messages or user locations.

We're seeing governments become more aggressive in how they try to use legal tactics to unmask the people using our service, collect information about account owners and also using legal demands as a way to try and silence people, Yoel Roth, the head of Twitter's safety and integrity, said in a conversation broadcast on the site Thursday.

The US makes up the majority of demands for account information, accounting for 20% of the requests. India follows closely behind. Twitter says it complied fully with roughly 40% of all asks for information on user accounts.

Japan, which is also a frequent requestor for account information, makes the most requests of Twitter to take down content from accounts. Japan made more than 23,000 requests half of all requests for content to be removed. Russia followed closely behind on its takedown asks.

Meta, which owns Facebook and Instagram, also reported an increase in government asks for private user data during the same timeframe.

Twitter also reported a huge spike in requests from governments that targeted verified journalists and news outlets during the last half of 2021.

Governments also made a record number of legal demands on 349 accounts of verified journalists or news outlets around the globe between July and December of last

Twitter did not provide a breakdown of which countries made those requests on journalists' accounts or how many of the asks they complied with.

Governments are using the social media companies to silence critics and censor journalists, Rob Mahoney, the executive director of the Committee to Protect Journalists, said in an emailed statement to The Associated Press.

This surge in government demands for content takedowns and information on journalists is part of a global trend of increasing censorship and manipulation of information," Mahoney said. Social media platforms are vital for reporters and they must do more to resist government attempts to silence critical voices.

Click Here:- Get Live Share Market Tips From Sharetipsinfo

Share Market Closing Note , Indian Stock Market Trading View For 28 July 2022 - Sharetipsinfo

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Topic :- Share Market Closing Note

Benchmark indices ended higher for the second consecutive day on July 28 with Nifty closing above 16900.Stock market glows due to the trend of election results, increase in wealth  of investors by 5.4 lakh crores - Edules

At Close, the Sensex was up 1,041.47 points or 1.87% at 56,857.79, and the Nifty was up 287.80 points or 1.73% at 16,929.60. About 1865 shares have advanced, 1389 shares declined, and 141 shares are unchanged.

Bajaj Finance, Bajaj Finserv, Kotak Mahindra Bank, IndusInd Bank and SBI Life Insurance were among major gainers on the Nifty, while losers included Shree Cements, Bharti Airtel, UltraTech Cement, Cipla and Bajaj Auto.

Among sectors, Bank, IT, Metal, Power, Realty up 1-2 percent.

BSE Midcap index added nearly 1 percent and smallcap index rose 0.6 percent.

--------------------------------------------------------------------------------------------

Topic :- Time:3.00 PM

Nifty spot if manages to hold above 16880 level on closing basis then expect some quick upmove in coming sessions and if it closes below above mentioned level then some sluggish movement can continue to follow in the market.

--------------------------------------------------------------------------------------------

Topic :- Time:2.30 PM

CRUDEOIL Trading View:

CRUDEOIL is trading at 7897.If it manages to trade and sustain above 7920 level then expect some quick upmove in it and if it breaks and trade below 7860 level then some decline can follow in it.

--------------------------------------------------------------------------------------------

Topic :- Time:2.15 PM

Important Events Today:

1. US Quarterly GDP data

--------------------------------------------------------------------------------------------

Topic :- Time:2.10 PM

Just In:

SBI CARDS AND PAYMENT SERVICES: Q1 EBITDA 10.25B RUPEES VS 5.8B (YOY) || Q1 EBITDA MARGIN 33.06% VS 24.68% (YOY)

BEATS EBITDA

BEATS MARGINS

--------------------------------------------------------------------------------------------

Topic :- Time:2.05 PM

Just In:

IL&FS sells two energy arms for Rs 77.5 crore, proceeds will be used to pare debt.

--------------------------------------------------------------------------------------------

Topic :- Time:2.00 PM

Nifty spot is trading at 16920.If it manages to trade and sustain above 16940 level then expect some upmove in it and if it breaks and trade below 16880 level then some decline can follow in the market.

-------------------------------------------------------------------------------------------

Topic :- Time:1.00 PM

Nifty is likely to turn volatile now. Nifty spot if manages to trade and sustain above 16920 level then expect some quick upmove and if it breaks and trade below 16860 level then some decline can follow in the Nifty.

--------------------------------------------------------------------------------------------

Topic :- Time:12.30 PM

COPPER Trading View:

COPPER is trading at 648.80.If it manages to trade and sustain above 650 level then expect some upmove in it and if it breaks and trade below 646.60 level then some decline can be seen in it.

--------------------------------------------------------------------------------------------

Topic :- Time:12.15 PM

Just In:

India wants to open up for Lithium mining in batteries quest

--------------------------------------------------------------------------------------------

Topic :- Time:12.00 PM

After positive opening nifty is still trading in green zone. Nifty spot if manages to trade and sustain above 16880 level then expect some quick upmove in it and if it breaks and trade below 16840 level then some decline can follow in it.

--------------------------------------------------------------------------------------------

Topic :- Time:11.30 AM

News Wrap Up:

1. Sensex soars 800 pts, Nifty near 16,850; MTNL surges 7%

2. Tata Motors skids 4% on poor JLR performance but brokerage firms still bullish

3. Nestle India Q2 earnings| Profit declines 4% to Rs 515 crore, misses estimates

4. Indian rupee rises 14 paise to 79.77 against US dollar in early trade

5. After HDFC Bank, more banks may offer higher rates on NRE deposits

6. WHO says more than 18,000 cases of monkeypox globally, most in Europe

7. IT companies margins decline to decade-low of 23.2% in June quarter

8. Fed raises rates by 75 bps to tame inflation, flags weakening economic data

--------------------------------------------------------------------------------------------

Topic :- Nifty Opening Note

Indian Stock Market Trading View For 28 July,2022:

Stock specific action expected in the market. Result figures to be monitored. 

Nifty spot if manages to trade and sustain above 16680 level then expect some upmove in the market and if it breaks and trade below 16600 level then some decline can follow in the Nifty. Please note this is just opening view and should not be considered as the view for the whole day. 


--------------------------------------------------------------------------------------------



No progress in resuming trade with Pakistan, Centre tells Parliament

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Pakistan suspended trade with India on August 7, 2019, days after New Delhi abrogated Article 370 and removed Jammu and Kashmir's special status.No change' in trade policy with India, says Pakistan, amidst buzz around  its trade minister in New- The New Indian Express

There has been no progress made on resuming trade ties between India and Pakistan over the last three years, the Centre has informed the Parliament.

"In August 2019, Pakistan announced the suspension of bilateral trade with India. Pakistan partially relaxed its ban on trade with India in September 2019 by permitting trade in certain pharmaceutical products," V Muraleedharan, Minister of State in the Ministry of External Affairs, said in a written response to a question in the Rajya Sabha on July 28.

"There has not been any progress regarding resumption of trade with Pakistan since then," Muraleedharan added.

Pakistan suspended trade with India on August 7 2019, days after New Delhi abrogated Article 370 and removed Jammu and Kashmir's special status.

The move saw trade between India and Pakistan slump to $329.26 million in FY21 from $2.56 billion in FY19.

India's exports to Pakistan amounted to $2.07 billion in FY19 - 0.63 percent of all its exports - while imports stood at $494.87 million. In FY22, India exported $513.82 million worth of goods to its neighbour - just 0.12 percent of all its exports - and imported a mere $2.54 million worth of merchandise.

As per data on the commerce ministry's website, India's exports to Pakistan in the first two months of FY23 totalled $142.14 million. The biggest item of export was 'sugar and sugar confectionary', which accounted for $85.84 million - 60 percent of all exports to Pakistan.

Rupee, bonds gain on 'less hawkish' policy despite US Fed rate hike

http://sharetipsinfo.comJust get registered at Sharetipsinfo and earn positive returns

www.ShareTipsInfo.com

Fed Chair Powell's comments suggest slower pace of hikes going ahead, say markets

money, budget, rupee

 bonds and the  strengthened on Thursday despite a 75-basis-point (bp) rate hike by the  as key aspects of the central bank’s commentary were perceived as indicating that future policy tightening may occur at a slower pace in the world’s largest economy.

At 9.30 am IST, the  was trading at 79.78 per US dollar, stronger than 79.90 to a dollar at previous close. A sharp rise in domestic stocks also boosted the rupee, with the BSE Sensex and the NSE Nifty both trading 1 per cent higher.

Yield on the 10-year benchmark 6.54 per cent, the 2032 government bond was at 7.31 per cent, three bps lower than Wednesday’s close. Bond prices and yields move inversely.

Also Read: Indian diaspora, global bankers may profit from New Delhi's dollar crunch

Late Wednesday, the  announced a 75-bp rate hike, taking its benchmark policy rates to 2.25-2.50 per cent. The latest move takes the total tally of rate hikes announced by the US central bank so far in 2022 to 225 bps.

While the US central bank reiterated its commitment to reining in 40-year high inflation in the US, markets took comfort from US Fed Chair Jerome Powell’s assessment that as the stance of monetary policy tightens further, “it may become appropriate to slow the pace of (rate) increases.”

The aggressive pace at which the US Fed has raised interest rates thus far in 2022 has been a key reason behind the large-scale exodus of foreign funds from Indian equities as investors have preferred improved returns in the US. FPIs have net sold $28.6 billion worth of Indian stocks so far in 2022, the largest outflow so far on record, NSDL data showed.

As a result, the  has faced considerable pressure versus the dollar this month, weakening to a lifetime low of 80.06 per dollar on July 19.

“The markets consequently cheered the indication that the biggest rate hikes of this cycle were over,” economists from ICICI Securities wrote.

US bond yields fell sharply after the Fed’s statement, with the 10-year yield declining 5 bps to a three-and-a-half-month low of 2.73 per cent, while the five-year yield dropped 7 bps to 2.97 per cent.

The  index, which earlier this month had climbed to a 20-year high of 108.54, declined as well. The index was last at 106.31 as against 107 around 5 pm on Wednesday.

Lower US bond yields make Indian debt more attractive for foreign investors.

“Domestic government bonds have rallied in line with the OIS (overnight indexed swap) market. The swap curve has steepened as short-term swaps have fallen sharply on view that the Federal Reserve will now be data dependent instead of providing clear forward guidance of rate hikes,” ICICI Securities Primary Dealership’s Head of Trading Naveen Singh said.

With the  (RBI) said to have been strongly defending the rupee whenever it approaches 80 per dollar, currency traders said the domestic currency would likely stabilise after the recent bout of volatility.

“So far,  has kept a strong hold on USD/INR above 80 levels and curbed rupee depreciation. Also, the unwinding of the open interest position yesterday didn’t move the rupee much as the  might have intervened heavily to avoid a sharp move as seen in the June expiry,” wrote Amit Pabari, managing director of CR Forex Advisors.

Also read:- As credit demand grows in India, banks may soon be scrambling for deposits

  UseFul Links:: Stock Market Tips Home | Services | Free Stock / Commodity Trial | Contact Us