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Today#39;s rebound indicates the domestic economy#39;s resilience in comparison to its global peers
The dollar index – which measures the greenback against a basket of six currencies, with the euro the most heavily weighted – stood at 108.65 at the start of the Asian day, after dropping back from 109.48 overnight, a level not seen since September 2002.
The message from the world’s top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets. (Full Story)
Tech Mahindra, Infosys, Wipro, HCL Technologies and TCS were among the major Nifty losers
Reliance Industries wil host its 45th post IPO annual general meeting on Monday. The traders be keenly looking an update from its chairman Mukesh Ambani for succession plan, future business outlook and IPOs of retail & telecom business.
The hawkish message was not what Wall Street wanted to hear and S&P 500 futures were down a further 1.1%, having shed almost 3.4% on Friday. Nasdaq futures lost 1.5% with tech stocks pressured by the outlook for slower economic growth.
FLFL has in-house retail chains Central and Brand Factory, exclusive brand outlets (EBOs) and other multi-brand outlets (nearly a dozen apparel labels, including Lee Copper, Champion, aLL, Indigo Nation, Giovani, John Miller, Scullers, Converse and Urbana) in its portfolio.
“We had a spectacular run in the auto space and there is a lot of steam still left the way we look at the numbers coming, the monthly numbers as well as the quarterly numbers of most of the auto companies were quite strong.”