MSCI Financial News

Dhanuka Agritech Ltd following its latest meet with the company's MD, M K Dhanuka and executive director Harsh Dhanuka. The brokerage firm stated in its report that it expects total profitability to increase with a rise of volume growth and margins. However, an inadequate monsoon in September–October could have a negative effect on demand.

₹246.85 apiece on the BSE. Jio Financial Services Ltd (JFSL), the demerged non-banking financial services unit of Mukesh Ambani-led Reliance Industries, will be dropped from Nifty 50 and other NSE indices, on September 7, the stock exchange NSE said on Tuesday. JFSL shares will be dropped from 19 NSE indices, including Nifty 50, Nifty 100, Nifty 200, Nifty 500, Nifty Energy, Nifty Commodities and Nifty Oil & Gas.

Asian equities fell on Tuesday as the spotlight remained on China and its efforts to stabilise its stuttering post-pandemic economy, while traders awaited the outcome of a policy meeting of the Reserve Bank of Australia. MSCI's broadest index of Asia-Pacific shares outside Japan was 0.75% lower at 511.14, moving away from 515.37, the highest level since Aug. 11 it touched on Monday. China shares clocked their best day in over a month on Monday on the back of fresh measures to help boost the faltering economy.

By Jamie McGeever

MUMBAI : Investors could witness the Sensex rising by around 10% in the run-up to the general elections in 2024 in anticipation of a decisive win for the Bharatiya Janata Party (BJP) led government and could swing in a +5% to – 40% wide range, depending upon the outcome of the polls. This is the nub of a research report dated 3 September by global brokerage Morgan Stanley. The Sensex closed at 65387.16 on 1 September and a 10% base case implies 71926 through May, assuming the election dates are not advanced.

₹14,295 crore in August, this is the lowest since March. To be sure, India is seen relatively better placed than Asian peers on stable macros and is expected to continue to garner FII money in the near term.

For some investors seeking to diversify their portfolios, emerging markets are looking increasingly attractive. There are 169 emerging-markets stock ETFs available to fund investors, with total assets of about $296 billion, according to fund researcher Morningstar Direct. Some analysts and financial advisers say there is a lot to like about this sector right now.

By Amanda Cooper

The domestic stock markets underperformed the world markets in 2023 despite hitting lifetime highs in July. The MSCI India Index delivered 2.3% year-to-date returns, compared with MSCI indices comprising Europe, USA, Japan, Korea, Taiwan and Argentina, which delivered between 8.7% and 46.1% returns.

China’s economic troubles have so far been a boon to other Asian markets. But if the world’s second largest economy continues to turn sour, things could start to look uglier for them too. Major Asian stock markets have been doing well in 2023.

Global market update: On account of rate pause buzz in upcoming US Fed meeting in September 2023, Wall Street ended higher on Friday. Two out of three major indices ended higher while tech heavy Nasdaq finished marginally lower on Friday session. Dow Jones index ended 0.33 per cent higher, S&P 500 gained 0.18 per cent while Nasdaq closed 0.02 per cent lower on last day of the week gone by.

By Stephen Culp

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China stepped up efforts to support its housing sector and stabilise the yuan, though investors remained cautious ahead of U.S. jobs data that could make or break the case for further rate hikes. U.S.

Traders held back from carrying forward aggressive bets on Nifty futures to September on Thursday — when the August contracts expired — on expectations of modest moves in the benchmark index in the near future. Though the index closed below a key support of 19,260, analysts are not anticipating it would fall below 19,000 for now, prompting traders to restrict their wagers to specific stocks or themes. The rollover — process of carrying forward index and stock futures positions from an expiring derivatives series to the subsequent ones — in Nifty futures to September stood at 78% as against the three-month average of 82%.

IDFC First Bank, Power Finance Corporation (PFC), HDFC Asset Management Company (AMC), Ashok Leyland, Supreme Industries, Astral, REC, and Cummins India made their way into MSCI Global Standard Index on August 31. On the other hand, ACC was excluded from the index. According to Nuvama Alternative & Quantitative Research said in its report, ‘’A total of eight inclusions have been announced, aligning with our projections for six of them.

Asian shares were set for the worst month since February, with sentiment hurt by still-gloomy China factory activity, while investors were also cautious ahead of a barrage of U.S. data that could add to bets that interest rates have peaked. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1% but was still headed for a monthly loss of 5.9%, the largest since February.

dollar wobbled as weak U.S. labour data bolstered bets that the Federal Reserve was likely done with its interest rate hikes, while beaten-down China stocks rose for a third straight day. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.86% to a two-week top and is on a three-day winning streak.

By Tom Westbrook

Hedge funds’ bullish bets in emerging-market equity futures have risen to the highest since the gauge’s pandemic low three years ago, signaling budding optimism for the asset class.

Beijing on Sunday announced it would halve the stamp duty on stock trading in the latest attempt to boost the struggling market and revive investor confidence. The help was needed given profits at China's industrial firms fell 6.7% in July from a year earlier, extending this year's slump to a seventh month. Chinese blue chips shed 2% last week to hit its lows for the year so far, and all eyes will be on the official PMI for August out on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan firmed 0.2%, having eked out minor gains last week to break a three-week losing streak. Japan's Nikkei rose 0.9%, underpinned in part by the persistent weakness of the yen. S&P 500 futures edged up 0.1% and Nasdaq futures 0.2%, extending last week's modest rise. The market did manage to weather a slightly hawkish outlook from Federal Reserve Jerome Powell, who reiterated they might have to raise rates again but promised to move «carefully». «We take this to mean that the FOMC does not intend to hike at the September meeting,» wrote analysts at Goldman Sachs. «We continue to expect that the FOMC will ultimately decide that further policy tightening is unnecessary, making the hike at the July FOMC meeting the last of the cycle.» Futures imply around an 80% chance of a steady outcome at the Sept. 20 meeting, and a 54% probability of a hike by year end. DOWNSIDE RISK ON JOBS Much will depend on the flow of U.S.