Market Bizzz

“Coinbase did not see a mass migration off its platform during the quarter, but its users are becoming more passive in their cryptocurrency investing,” said Michael Miller, equity analyst at Morningstar Research.

Coal India, Pidilite, Hindalco, Eicher Motors, Tata Consumer Products, IRCTC, Abbott India, Patanjali Foods, Max Healthcare, SAIL, Zydus Lifesciences, NHPC and Cummins are among the companies that will announce their earnings for the quarter ended June 2022.

The dollar index held firm against its rivals, making gold less appealing for other currency holders. Benchmark U.S. 10-year Treasury yields edged higher to 2.7883%, increasing the opportunity cost of holding non-interest bearing gold.

Liquid funds saw outflows of ₹7,693 crore, while floater funds, banking and PSU debt funds and corporate bond funds saw outflows of ₹4,682 crore, ₹2,810 crore and ₹2,582 crore, respectively.

Both Morgan Stanley’s Michael J Wilson and Goldman’s David J Kostin expect corporate profit margins to contract next year given unrelenting cost pressures, they wrote in separate notes. According to Wilson, “the best part of the rally is over.”

Traders currently see a 73.5% probability the U.S. Fed continues the pace of 75-basis-point rate hikes for its next policy decision on Sept. 21 to tame soaring inflation. Although gold is seen as a hedge against inflation, rising U.S. interest rates dull bullion’s appeal

Traders currently see a 73.5% probability the Fed continues the pace of 75 basis-point interest-rate increases for its next policy decision on Sept. 21, from about 41% before surprisingly strong payrolls data on Friday raised worries that wage growth would fuel inflationary pressures.

Airtel, Adani Ports, Power Grid, Samvardhana Motherson, Delhivery, Indian Hotels, UNO Minda, Vedant Fashions, Torrent Power, Whirlpool and Nalco are among the companies that will announce their earnings for the quarter ended June 2022.