Market Bizzz

The RBI certainly seems to be on a pause mode. And in fact, global central banks also, especially the US Federal Reserve, also seems to be indicating that they would pause soon.

​The first part is that if you look at the differential between repo and the FFTR, upper bound, then that is today at 125 basis points. Now, that is the lowest number that we have seen in 23 years.

​So, while you may argue that in PE terms it is low, but if I have to look on a PEG basis which is I think a better reflection because that does factor in the earnings growth potential, within the top six, if I may, LTIMindtree probably look the most attractive within the space.

Stock picker Shankar Sharma, the founder of GQuant Investech, prefers smallcaps when asked for investment advice, believing in diversification rather than a concentrated portfolio. Sharma is a believer that fund managers should manage public money during bear markets to ensure steady income. He sees India as an excellent investment opportunity, with the GDP set to grow spectacularly. Sharma is bullish on the benchmark Sensex hitting a landmark 1,00,000, with many public offers coming soon despite bad experiences with new tech firms.

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Gold prices are set for their best weekly increase in two months as the dollar slides and US Treasury prices rise due to economic data uncertainty and mixed comments from Federal Reserve officials. While the recent debt ceiling deal has prompted market rallies and equities growth, it has also raised concerns over whether limited governmental spending could increase the odds of a recession, thus keeping gold prices buoyed. US non-farm payroll data will be imperative.

Gold prices fell on Friday due to higher-than-expected US jobs data which led to an increase in Treasury yields. However, gold still experienced a weekly gain due to high unemployment rates indicating that the Federal Reserve may pause interest rate hikes. Currently, traders anticipate that there is a 70% chance of the Fed leaving rates unchanged later this month. The rise in interest rates lifts Treasury yields, making gold less attractive since gold has zero-interest yield. Silver prices also fell, while platinum and palladium experienced weekly losses.

Despite 339,000 jobs being added in May, a drop in wage growth and a higher unemployment rate are likely to keep the Federal Reserve on hold this month whilst it considers a rate hike later this summer. With the federal-funds rate in the 5% to 5.25% range following a quarter-point increase in early May, policymakers are expected to skip a rate hike this month, but continue to monitor data. US Treasuries rose by 10 basis points to 4.46% following the jobs report release; the odds of a June rate hike rose to 31%, up from 24% on the previous day.