Market Bizzz

Asian shares rose on Wednesday on optimism that Chinese authorities will offer support for its stock markets, which have plummeted to multi-year lows, while a hawkish tilt from the Bank of Japan lifted the yen.

The other important results will be Ujjivan Small Finance Bank, Tech Mahindra, UCO Bank, TVS Motor Company, Tata Steel, Railtel, PNB Housing, Laurus Labs, Indian Overseas Bank, Indian Oil Corporation, DLF, DCB Bank, CONCOR, Ceat, Canara Bank, Bluedart, Bajaj Auto and Aarti Drugs.

Bitcoin has fallen over one fifth since its peak earlier this month, hit after the United States approved its first spot bitcoin exchange traded fund (ETF), as investors who had bought in expectation of the approval sold after the confirmation.

Gold prices were little changed on Tuesday, as traders cautioned to take position ahead of interest rate decisions from a number of central banks and a slew of economic data in the United States.

The geopolitical tensions have been eclipsed by persistent concerns over China’s stuttering economic recovery, which has in turn raised worries about global oil demand given the Asian giant is the world’s biggest crude oil importer.

Bitcoin fell to a seven-week low on Monday, hovering below $40,000 for the first time since the launch of 11 spot bitcoin exchange-traded funds on Jan. 11.

Nitin Raheja discusses the valuations of defence stocks and railway stocks, emphasizing the lumpiness of these businesses and the potential for big variances in quarterly performance. He also mentions the signs of revival in the rural economy and the expected increase in spending as the elections approach. Raheja expects better results from FMCG players due to benign inflation in some commodities.

While the gloom adds impetus for the People’s Bank of China to lower interest rates, investors say the monetary authority has less room to cut than its major global peers, whose borrowing costs are now at multi-year highs.