Wood said there is also growing interest in offering China as a special asset class of its own with the rest of the emerging markets managed separately. Creating an emerging markets (EM) basket excluding China would benefit markets like India and Taiwan as China’s underperformance would weigh down the EM index returns. China has the highest country weightage on the EM indices.
NBFCs bracing for a rise in borrowing costs
Japanese brokerage Nomura Securities expects cost of funds for NBFCs to increase by 30-40 basis points by December 2023 due to a broad increase in market yields, higher benchmark bank rates and because non-convertible debentures (NCDs) issued by NBFCs will be priced at a more expensive yield.
L&T hits lifetime high on likely Aramco order win
The order win from Saudi Aramco is reportedly for the second expansion phase of its Jafurah unconventional gas production project, and will be executed by L&T Energy Hydrocarbon. This division accounted for about a fifth of the company’s total order book of over ₹4 lakh crore as of the June quarter.
Taking Stock: Market near 2-month high; Sensex gains 333 points, Nifty above 19,800
Coal India, NTPC, BPCL, Tata Motors and LT were among the major Nifty gainers. Losers included UPL, Eicher Motors, Apollo Hospitals, ITC and UltraTech CementMid-day Mood | Recovery in metal, FMCG names push Nifty above 19,800; power and capital goods shine
The market has been on an uptrend in the past five sessions, trying to gain back lost territory after a subdued performance through August.Will market feel pressure as crude oil cruises above $90?
Analysts feel that any ripples will be felt only if the rise in prices continues in coming weeks. Most of them expect no major corrections in the market in the near term, but recommend that investors pick up quality stocks in the event of a dip.Buoyant dollar on course for its longest weekly winning streak since 2014
The onshore yuan, which touched its weakest level since 2007 on Thursday, has fallen nearly 6% against the dollar so far this year to become one of the worst performing Asian currencies alongside its offshore counterpart.
US stock market: S&P, Nasdaq fall as Apple drags, jobless claims data fuels rate jitters
Shares in S&P heavyweight Apple Inc fell for a second straight day on news that China had widened curbs on iPhone use by state employees, requiring staff at some central government agencies to stop using their mobiles at work.
Stock Market Live Updates: GIFT Nifty signals a positive start; Asian shares trade lower
Taking Stock: Market extends gains; Sensex up 385 pts, Nifty above 19,700
Among sectors, except FMCG and pharma, all indices traded in the green. Bank, capital goods, PSU Bank, power and realty were up 1-2 percent