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BSE midcap and smallcap indices underperformed the benchmarks and ended on a flat note
The economic shock was anticipated in 2023 and we seem to be in a window right now where we are transitioning from the price shock into the economic shock –we are seeing issues within credit in US and the regional US banks.
I genuinely believe there is enough opportunity. I have driven programmes which are multi-year programmes, efficiency programmes. So, I do see that kind of opportunity having spent now more than six months in the company, I am very confident that these initiatives or a culture that I want to build of continuous process improvement, be it starting from discounts to food cost, logistics cost, manpower cost, store operations cost and G&A will carry us through irrespective of how the market pans out.
Gold prices on Friday were on course for their biggest weekly drop in 3-1/2 months as recent strong U.S. economic data and hopes for a resolution in the debt debate took some shine off bullion. The fundamentals include strong U.S. job growth numbers and hopes for a resolution in the debt debate, but these factors are likely to be overshadowed by the dollar’s strengthening against other currencies.
Divis Laboratories, Adani Ports, SBI, ITC and Titan Company were among the biggest losers on the Nifty. Bajaj Finance, Kotak Mahindra Bank, Bharti Airtel, ICICI Bank and Asian Paints were the biggest gainers
There are cycles in the market between so-called value and growth and quality. I think as you really see inflation coming off, the interest rate cycle coming to a pause, if not on the cutting side, I think that leads to a significant amount of momentum on the growth side of the macro economy and at the same time growth side of the market.
Cryptocurrency lender Voyager Digital said Wednesday that customers will soon recover about 35% of their cryptocurrency deposits as the company winds down operations after a failed buyout attempt by crypto exchange Binance.US. U.S. Bankruptcy Judge Michael Wiles approved Voyager’s liquidation plan at a court hearing in Manhattan, allowing the company to return about $1.33 billion in crypto assets to customers and end its efforts to reorganize under Chapter 11. Customers may be able to make withdrawals by
The US & Europe which is 42% of the Global GDP and if they would go through a recession in this year as projected by most of analysts, then somewhere the growth across the globe will take a back seat.
On the sectoral front, realty, metal and information technology indices shed 1 percent each, while bank, oil gas and power indices fell 0.5 percent each.
Asian shares were subdued due to investors remaining risk-averse and the mixed set of economic data. MSCI’s index of Asia-Pacific shares was down 0.20%, with Australia’s S&P/ASX 200 index also down 0.56%. Moreover, prices of crude oil fell as a surprise rise in U.S. crude inventories stoked demand concerns following weaker-than-expected economic data from the U.S. and China. The dollar, however, rose 0.01% to 102.61. Raphael Bostic, the Atlanta Fed president, said the Fed will stay ‘super strong’ in fighting inflation, while the Chicago Federal Reserve President Austan Goolsbee said it was too early to discuss interest rate cuts.