Economy Financial News

mid-cap stocks have once again proved their potential by outperforming the benchmark indices in 2023 by a huge margin. Mid-cap stocks have the potential to give high returns in a bullish market phase. Although individual stock performance is the primary reason behind this rally, another important contributing factor is the performance of the Indian economy and the rising importance of India as a key player in the global supply chain.

Also Read: Corporate investments are still to show a long-awaited recovery After a stellar 7.8% expansion last quarter, economic growth was expected to moderate to 6.4% in July-September quarter and then drop to 6.0% in the October-December period before slowing to 5.5% in early 2024. A majority of economists, 22 of 36, who answered an additional question said the risks to their FY 2023/2024 GDP growth forecasts were skewed to the downside.

Bloomberg. Currently, Hui is being monitored at a designated location. However, it's not yet clear why Hui is under so-called residential surveillance – a type of police action that falls short of formal detention or arrest. It is pertinent to note that residential surveillance doesn't mean HHui will be charged with a crime.

“The market is witnessing robust traction in the small and mid-cap space and these indexes are consistently outperforming the broader benchmark, given the strong buying momentum,” says Raghvendra Nath, MD, Ladderup Wealth Management Pvt. Ltd. In an interview with ETMarkets, Nath said: “Small and mid-cap space encompasses a variety of choice picks indicating stellar growth and return possibilities, amid the fast-growing economic landscape in India. These factors are, synergistically, driving interest in the space” Edited excerpts: What a month for Indian markets – Nifty climbed 20,000 and then saw some profit-taking. How are you seeing markets? Given the overall positivity in sentiment post the successful G20 presidency, which is expected to propel Indian economy to the forefront of the global arena, as well as lower CPI and wholesale inflation, domestic indexes are likely to continue their strong performance going ahead.

JPMorgan for Asia Pacific, highlighted the growing enthusiasm for the "China plus one" approach among businesses. He emphasised that India, among other nations, stands to reap substantial benefits from this strategy, potentially emerging as the primary beneficiary.

Sensex closed flat with a lower bias following weak cues from global peers as the US Treasury yields hit a multi-year high and the US dollar rose to a 10-month high level amid concerns over interest rates staying high for an extended period and its impact on the global economy. The Sensex closed 78 points, or 0.12%, lower at 65,945.47, while the Nifty 50 finally ended at 19,664.70, down 10 points, or 0.05%. Also Read: 6 things that changed for the stock market overnight - Gift Nifty to falling US consumer confidence Nifty formed a small body of negative candle on the daily chart with minor upper and lower shadow.

Also Read: Day trading guide for today: Six buy or sell stocks for Wednesday —September 27 Here are key domestic and global markets cues for the Indian stock market today: Asian markets traded mixed on Wednesday following overnight losses on Wall Street amid concerns over a longer period of higher interest rates. Investors await China’s industrial data and Australia’s August inflation figures due today. Japan’s Nikkei 225 declined 0.71% and the Topix fell 0.63%.

Also read: Chinese President Xi Jinping's housing crisis efforts jeopardized as Evergrande face trouble “The real estate sector will continue to be under mounting pressure" despite recent government efforts to support property, said analysts at Poseidon Partner, a Hong Kong-based investment firm. “We expect to see players who racked up debt in the past to continue to suffer." The economist survey coincides with new research from Bloomberg Economics that suggests the “around 5%" growth goal is still possible, though not a sure bet. They estimate the probability of an undershoot at 18%.

By Arathy Somasekhar

By Walter Bianchi and Eliana Raszewski

Investing.com-- Oil prices rose slightly in Asian trade on Wednesday, extending a rebound from the prior session as the prospect of tighter supplies helped markets look past concerns over rising interest rates and their impact on the economy. 

Rigi, a pioneer in empowering online creators to monetise their content, is thrilled to announce the launch of GapUp, a curated discovery platform designed for users to access and learn from influencers and online content creators across a multitude of domains. This groundbreaking platform is poised to address the pressing demand for authentic and trustworthy information in the rapidly expanding digital landscape. GapUp promises to be the nexus of expertise, bringing together financial experts, fashion mavens, tech innovators, business coaches, fitness experts, travel gurus, and more. With features that enable influencers to initiate courses, live interactions, and foster vibrant communities, GapUp ensures an immersive learning experience for its users. As the global shift towards the digital age accelerates, consumers are inundated with a plethora of information.

Potomac Wealth Advisors founder and president Mark Avallone discusses the markets as a government shutdown looms, inflation and his outlook on the economy ahead of the release of updated economic data.

UBS managing director and senior portfolio manager Jason Katz discusses the impact of the UAW strike on the Federal Reserve and the auto industry, as well as high oil prices.

The United States Federal Reserve Banks of Boston and New York have published a data-driven report that delves into the potential impact of stablecoins on the broader economic landscape.

China poses a conundrum for asset managers because while it is cheap and growing, there are risks when it comes to rule of law and transparency, said Evan Siddall, chief executive of the Alberta Investment Management Corp. (AIMCo).

The Bank of Canada will hold its key interest rate near the current level of five per cent until the third quarter of 2024, economists say, with growth picking up momentum to end this year.

China poses a conundrum for asset managers because while it is cheap and growing, there are risks when it comes to rule of law and transparency, said Evan Siddall, chief executive of the Alberta Investment Management Corp. (AIMCo).

Late last year, and into early 2023, the crowd was all in on the inevitability of a US recession starting in the near future. A Bloomberg headline captured the zeitgeist as the new year dawned: “The Most-Anticipated Downturn Ever.” But as September draws to a close, the current business-cycle nowcast continues to indicate low risk as the economy chugs along.

Investing.com — The Dow tumbled to its close at its lowest level since March, as weaker consumer confidence data fueled worry about the economy just as consumers face higher for longer interest rates and inflation that could rein in spending.

Central Bank Digital Currencies (CBDCs) have become well-established as a major talking point in the academic mainstream and geopolitics — not to mention the crypto community and its rowdy public discourse on X. While national leaders and supranational financial institutions such as the World Bank and International Monetary Fund have come to a broad consensus that CBDCs stand to provide great benefits, very little has been said detailing where CBDCs are best designed to provide support, and where their adoption may be, so to speak, out of bounds.