Market Bizzz

The corporate goods price index (CGPI), which measures the price companies charge each other for their goods and services, rose 3.2% in August from a year earlier, matching a median market forecast.

Fed Chair Jerome Powell underscored the “higher-for-longer” mantra for rates in a speech at the annual Jackson Hole central banking symposium in August and maintained another rate hike might still be needed to bring inflation down to the 2% target.

HDFC Mutual Fund, Axis Mutual Fund, Nippon India Mutual Fund, Aditya Birla Sun Life Mutual Fund, SBI Life Insurance, HDFC Life Insurance Company, Abu Dhabi Investment Authority, Morgan Stanley Asia (Singapore) Pte, Elara India Opportunities Fund, and Government Pension Fund Global are among the anchor investors.

“Given that Indian bonds are largely domestic owned, one shouldn’t expect any major sell-off in response to the US rise in yields nor should one expect a dramatic depreciation in the rupee. From an investor’s standpoint, the current levels on 10-year bond yields remain attractive and we believe that they may continue to trade in a range of 7-7.30 bps. The yields can trend higher only if we see RBI hiking rates beyond 6.5%”

The F&O contracts of any stock enter the ban period when the open interest (OI) on it crosses 95% of the market-wide positions limits or MWPL. The ban on it is reversed only if the open interest falls below 80%.