Surabhi Upadhyay explains how Donald Trump’s signals of a possible US exit from the Iran conflict triggered a massive global market rally. Stocks are surging across the US and Asia while oil prices fall sharply—here’s what’s driving this big “TACO trade” and what it means for investors.
From Greenland to the Fed, Trump's actions trigger a global "Sell America" panic, forcing Wall Street to confront the cost of political instability.
Dismissing parallels with the dot-com boom, Balanco said the current rally across major indices is being fuelled by sentiment and momentum, but still has “further juice left in the trade.”
Benchmark indices, Sensex and Nifty, extended their losses to the fourth consecutive day led by a broad-based selloff. Around Rs 10 lakh crore investors wealth was wiped out due to 2 percent cuts each on index benchmarks. The selloff trigger came in due to Sebi's F&O norms, escalating tensions in the Middle East, and diversion of flows from India to China. Going ahead, experts expect Nifty to face resistance at 25,500, with support around 25,000. This morning global cues are mixed, with Wall Street largely ending lower while Asia Pacific markets remain mixed. Among stocks in focus, watch out for BSE, Bajaj Finance, Bank of Baroda, Avenue Supermarts, among others. Catch Lovisha Darad in conversation with Nirav Chheda, Assistant Vice President, Equity Derivatives & Technical Research- Retail, Nirmal Bang and Aishvarya Dadheech-- Founder & CIO, FIDENT ASSET MANAGEMENT.
CEO KN Radhakrishnan noted that in the domestic market, the company expects growth momentum to continue with normal monsoons likely to add strength to the rural markets, and in the international markets, he exuded hope to perform better in key markets like Africa this year while expanding operations in other regions like the Middle East and Latin America.
The Mumbai-based automaker reported a consolidated net profit of Rs 5,566 crore and total income of Rs 1,09,623 crore for June quarter
FM's statement comes amid backdrop of Sebi raising concerns about a possible overvaluation of small and midcap stocks, indicating possible market manipulation and the risk of a market bubble
Markets are now pricing in an 82% chance of interest rate cuts from the Fed to start from March, according to CME FedWatch tool, with over 150 basis points (bps) of easing anticipated this year.
Markets maintained those bets even after Richmond Fed President Thomas Barkin on Tuesday refrained from saying how the fall in inflation affected the policy outlook for next year, while Atlanta’s Raphael Bostic said there was no urgency to cut rates.
In the global market, gold and silver were quoting lower at USD 1,955 per ounce and USD 24.25 per ounce, respectively.