Market Bizzz

Japan’s Nikkei reversed earlier gains and the yen jumped past the 149 per dollar level to the highest in a month as momentum builds that a move from the Bank of Japan to end negative interest rates could come as soon as this month.

“It’s hard to see, with the data that’s come in, that I’d be saying more cuts than I had in December,” Kashkari said. “It seems like at a base case I’d be where I was in December, or potentially one fewer, but I haven’t decided.”

Spot prices hit a record peak of $2,152.09 per ounce overnight on Wednesday, rallying for a sixth straight session.

Investors should be cautious on FMCG and building materials due to expensive valuations. Equity markets continue to strengthen with steady earnings growth and strong domestic liquidity. India is a resilient economy on the path of self-reliance, leading to another strong year for Indian equities. Stay invested and have a bottom-up approach to investing. PSUs are a strong investment option.

Jayesh Mehta, a market veteran, discusses the positive impact of Indian FAR (fully accessible route) bonds being included in the Bloomberg EM Local Currency Government indices and the increase in FII flows into the Indian debt market. He predicts flows of $40-45 billion and anticipates currency appreciation depending on macroeconomic factors.

Embassy REIT anticipates strong growth in commercial real estate in India, with a focus on cities like Bangalore and plans to enter Chennai. They expect NOI to exceed Rs 3,000 crore in FY24 and have seen positive demand from global capitals for office space. Plus, they are constructing close to 7 million square feet in our existing parks where the land is already paid for.