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Nifty ended Wednesday’s session 71 points stronger to form a reasonable positive candle on the daily chart. The headline index is still making a higher high both on the daily and weekly charts. The short-term trend of Nifty continues to be positive with range-bound action. The market is now set to challenge another opening down gap resistance of August 2 around 24,960. Hence, one may expect the index to move towards 24,960 and 25,100 levels in the next one week. Immediate support is placed at 24,650 levels, said Nagaraj Shetti of HDFC Securities.

Recently, writing in the Economic Survey, the chief economic advisor observed that it is worth exploring whether India’s inflation targeting regime should focus on non-food inflation. The reasoning was that monetary policy is more effective in counteracting price pressures that arise out of excess aggregate demand, whereas food inflation is usually on account of supply constraints. In contrast, the Reserve Bank of India (RBI) governor recently spoke after the monetary policy meeting and observed that food inflation is a major factor in determining inflationary expectations and therefore continues to be a matter of concern.

The annual rate of inflation cooled to 2.5 per cent in July, Statistics Canada said Tuesday, the slowest pace for price growth since March 2021.

Queen Elizabeth II is still making headlines, this time around the US Presidential Elections 2024 after her statements in a new biography is making the rounds on social media, where it was stated the Queen found Donald Trump very 'rude', based on his behavior during his visits to the Queen, along with his wife Melanie Trump.

Pro-Palestinian organizers have vowed to flood the streets of Chicago with thousands of protesters during the Democratic National Convention, which [began Monday]. If successful, they will make headlines, but they also will almost certainly alienate allies as they attempt to box in Vice President Kamala Harris on Gaza. Harris has already taken a firmer stand than President Joe Biden in demanding Israel focus its attacks on Hamas rather than the Palestinian people.

Penn Mutual Asset Management CIO Mark Heppenstall joins ‘Mornings with Maria’ with his perspective on several U.S. economy headlines.

Donald Trump has dropped in a major statement around Kamala Harris' looks and this time, has drawn comparison to himself, after the Vice President featured in the magazine cover of Time. Donald Trump is always known for such statements and remarks in the press and on social media that keeps the headlines revolving around him, but the stark difference right now is that the former President is currently a Republican candidate and cannot afford to lose votes over such issues.

Many economists are expecting that July inflation data coming this week won’t dissuade the Bank of Canada from another interest rate cut at its next decision in September.

rural demand driven by improved monsoon prospects along with a rise in urban demand is expected to encourage investments by the private sector that could accelerate overall economic growth. There are some lead indications already of new capacity creation in a few industries and a pick-up in investment intentions, said an assessment of the state of the economy by the Reserve Bank of India economists published in its latest monthly bulletin. Aggregate demand conditions are gathering momentum after some slack in the first quarter of 2024-25. The central bank has projected an economic growth of 7.2 percent in 2024-25. " Rural consumption spending on the back of growing incomes is beginning to drive volume growth in fast moving consumer goods (FMCG), reflecting strengthening fundamentals." said a study by RBI deputy governor Michael Patra and his team published in the Bulletin. The views are those of the authors and not of the central bank.

RBI) may need to continue with disinflationary monetary policy and it has to remain cautious as the pressure stemming from persistently high food prices is spilling over into other components of inflation and shaping household perceptions on prices, a central bank article said. «Food price shocks may lie outside the realm of monetary policy, but when they result in food inflation acquiring persistence and spilling over into other components of inflation and into consumer behaviour, the monetary policy must be disinflationary to quell these price pressures in order to achieve its mandate of price stability and thereby retain credibility,» deputy governor Michael Debabrata Patra said in the article, co-authored by Joice John and Asish Thomas George. They said that the country is facing the danger of losing the beneficial effects of low core inflation if food prices cannot be anchored. Core inflation has been restrained through monetary policy tightening.

rural economy is emerging as a key driver of the Fast-Moving Consumer Goods (FMCG) sector's revival, hinting at a robust turnaround in aggregate demand after a sluggish start to the 2024-25 financial year. The Reserve Bank of India (RBI) in its monthly bulletin noted that with rising incomes and improving infrastructure, rural consumption is increasingly fuelling volume growth in FMCG products, underscoring the sector's strengthening fundamentals. The sector registered an approximate 6.6 per cent volume growth in the first quarter of FY25.

The Bank of Canada is expected to cut its policy rate at its next meeting in September, something that will become even more likely if economists’ predictions that inflation continued to cool last month come true.

Steel Authority of India (SAIL), a steel behemoth, and Infosys, the iconic IT services company? They are as different as chalk and cheese, but, interestingly, both are getting more flexible about their workplace policies and, in the process, paving the way to explore new work models for organisations. In May, SAIL announced the Work from Other than Workplace (WoW) policy. Under this policy, employees could choose to work from a place other than their normal office/base location.

A Harris advertising campaign that uses Google search is prompting some concerns among news outlets about their work being co-opted for political purposes

Jordan Chiles became a major part of the Paris Olympics headline after being stripped off a sure-shot bronze medal in the floor exercise event. Chiles was on the verge of attaining her third position and this was already reflected in the final standings, as being shown on-screen at the Olympics venue. However, she was left in tears as the final standings somehow changed and she was dethroned from her third position, losing out on her bronze medal.

Reserve Bank of India's commentary and inflation forecasts may not provide visibility on when rates may fall but swap traders are betting on a 50 basis-point cut in local borrowing costs starting February 2025 as central banks globally start tilting towards a softer monetary policy. A basis point is a hundredth of a percentage point.

FS Investments chief market strategist Troy Gayeski provides his outlook for the markets, the banking sector and a possible rate cut.  

The largest contribution to the headline inflation figure came from gas and electricity prices, as they fell less than they did a year ago, while the largest contribution came from restaurants and hotels, where prices fell. Economists polled by Reuters had expected a headline inflation rise to 2.3%. Core inflation fell from 3.5% in June to 3.3% in July, alongside services inflation which dropped sharply to 5.2% from 5.7% the previous month.  Jeremy Batstone-Carr, European strategist at Raymond James Investment Services, noted that the recent uptick in inflation was «mechanistic» as it...

inflation gauge declined below the mandated 4% target for the first time in five years, with economists attributing the fall to a statistical base effect and might not indicate a durable victory against sticky prices just yet. Most of the experts that ET spoke with said rate cuts could be pushed to the next fiscal year. In the recently concluded monetary policy review, central bank governor Shaktikanta Das maintained that future interest rate decisions will depend on food price movements and that it cannot overlook inflation pressures.