MSCI Financial News

Also read- MSCI EM Index: India surges to second place; weightage likely to cross 20% by mid-2024 The third quarter witnessed healthy demand across the segments, as volumes are expected to grow 18% YoY, said analysts at Motilal Oswal Financial Services in their preview report. The two wheelers outperformed other segments and are likely to rise 20% YoY while volumes for three wheelers, passenger vehicles, and commercial vehicles are likely to improve 15%, 12%, and 3% YoY, respectively, while the same should decline 4% YoY for tractors, as per MOFSL estimates.

By Kevin Buckland

By Stella Qiu

Asian shares extended a global sell-off on Wednesday while the dollar held gains as market optimism about early and aggressive U.S. interest rate cuts ebbed ahead of the release of Fed minutes and jobs data. MSCI's broadest index of Asia-Pacific shares outside Japan fell 1.1% after a 1.0% drop the previous day in a sluggish start of the new year.

Following a volatile 2023 year, Evercore ISI equity strategists reflect on a year marked by significant developments, including war, Generative AI advancements, inflation concerns, a banking crisis, and sentiment fluctuations.

By Elizabeth Howcroft

BSE Sensex, scaled new peaks. This was driven by positive domestic as well as global newsflow. For one, the Reserve Bank of India raised its gross domestic product growth forecast for FY2024 to 7% from 6.5% after September-quarter (Q2FY24) growth came in better than expected.

TOKYO—Big Japanese investors stumbled disastrously into the U.S. commercial real-estate market in the late 1980s, when they bought high-profile properties like New York’s Rockefeller Center not long before the market fell hard. Now some Japanese institutional investors and real-estate companies are back—but this time it isn’t about flaunting trophy purchases.

Read here)Indian government bond yields are expected to start 2024 with an uptick as a higher-than-expected borrowing schedule from states could weigh on sentiment.The 10-year benchmark bond yield is expected to move in the 7.15%-7.21% range on Monday after closing at 7.1754% in the last session of 2023, a trader with a private bank said.The benchmark yield ended lower for the second consecutive month in December and closed the year with a drop of 15 basis points (bps).NIFTY-50 has closed in a doji candle near all time high and we expect some minor pullback to test 21300-21,400 levels over the next few days.On the higher side 22,000 will be a resistance being the round number and the weekly pivot resistance from current levels.RSI is trending below the average line and pullback below to the lower range could be expected and other key technical indicators are overbought from current levels.Highest call OI has moved to 22,000 strike while on the downside the highest put OI has moved higher to 21,700 for the weekly expiry.A number of large and mid-sized banks raised term deposit rates in December, luring customers to park surplus money with them as the system liquidity deficit widened following tax outflows and tepid government spending.Some banks raised rates for deposits up to ₹2 crore; others raised rates for bigger deposits. Top lenders State Bank of India (SBI ) and Bank of Baroda (BoB) increased rates on fixed deposits by 25-50 basis points (bps) and 10-125 bps, respectively, for different tenors on 27 and 29 December.

Emerging markets are set to close out 2023 with their best returns in years, as bets on bigger and faster US interest-rate cuts propelled a blistering late-year rally across the developing world. MSCI's benchmark stock gauge for emerging-market equities is on track for a 6.7% advance this year, snapping a two-year losing streak. Its currency equivalent index is headed for a 4.7% gain, its biggest yearly rise since 2017. On debt markets, bonds in emerging-market currencies are eyeing gains of 6.3%, the best since 2020, while dollar-denominated debt has reaped an 11% return, the most in four years. The cost of insuring exposure to emerging markets has also eased, with credit default swaps across 22 sovereign issuers sliding an average 72 basis points to levels last seen in September 2021.

By Ankur Banerjee

₹83 to ₹83.70," he said.Global stocks mostly rose on Wednesday with a positive year-end mood continued. The Dow Jones Industrial Average led gains on Wall Street, advancing 0.3% to finish at another all-time high of 37,665.52. In European markets, London leading the way as it closed 0.4% higher.

By Wayne Cole

equity indices opened higher for the fourth consecutive day on Wednesday, led by banking, auto and IT stocks. The BSE Sensex was trading 280 points or 0.39% higher at 71,618. Nifty50 was trading at 21,529, up 87 points or 0.41% at around 9.17 am. From the Sensex pack, UltraTech Cement, Power Grid and Tata Motors were the top gainers, rising over 1% each.

By Rae Wee

By Ankur Banerjee

stocks traded tentatively on Tuesday, while the dollar lurked near a five-month low as cooling U.S. inflation bolstered bets the Federal Reserve would cut interest rates soon. Investors were still digesting data released on Friday that showed U.S. prices fell in November for the first time in more than 3-1/2 years, underscoring the economy's durability.

₹1,65,845 crore. The pace of FPI inflows picked-up in December. According to NSDL data, FPIs bought Indian stocks worth ₹47,569 crore so far in December–the highest since July.

Both these expectations went wrong, and despite money supply shrinking the world over, the world GDP grew higher than expected driven by Japan and the US, which recorded 4.8-4.9% GDP growth in certain quarters higher than EM. With the US expected to end 2023 with a 2.6% growth in its GDP and Japan at 2%, the world economy expanded as against witnessing a “recession”. This came at the cost of higher fiscal spending, however.

We don’t support this browser anymore. This means our website may not look and work as you would expect. Read more about browsers and how to update them here.

By Stella Qiu