QE redux! ECB on Thursday gave markets hope of more easy liquidity when it said monetary support for the euro-area economy will be stepped up after the summer break with lower interest rates and renewed asset purchases. Add a Fed rate cut, and no stopping another asset price inflation!
STREET PULSE: Where we stand  | SGX Nifty traded 27 points lower at 7 am (IST), signalling a possible negative start for Dalal Street. Asian share prices opened a tad lower on Friday on mixed US earnings. Japan's Nikkei dipped 0.3 per cent. Wall Street shares fell from record highs overnight, with the S&P500 losing 0.53%. Read More |
| Oil prices fell on Friday after a Reuters poll showed global economic growth is likely to slow further. Brent crude futures fell 24 cents to $63.15 a barrel WTI slid 5 cents to $55.97. Read More |
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Windfall ahead... Top venture capital funds like Accel Partners, Chiratae Ventures, SAIF Partners, Tiger Global are all set to mop up returns of over $2.5 billion as they sell a portion of their stake in some of India's hottest startups such as Oyo, Byju's, PolicyBazaar, BookMyShow, Freshworks, Lenskart, Delhivery and Swiggy.
Read More Fat paycheck... HEG CEO Ravi Jhunjhunwala zoomed to the top of the remuneration rankings in FY19 with a three-fold jump in compensation. He took home Rs 121 crore last financial year, 180 per cent more than in the last financial year, after the firm posted record profit on a surge in graphite prices.
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A reshuffle that caused heart burn
A day after being unceremoniously transferred to the power ministry, former finance secretary Subhash Chandra Garg sought voluntary retirement from the Indian Administrative Service. While there was speculation that an upset Garg might not join the power ministry and proceed on leave, he clarified in the evening that he would take charge of his new post on Friday.
Read More Bear hug? Traders cut bullish bets in August series on Thursday, as gloomy economic outlook and worries over higher taxation on FIIs soured market sentiment. Analysts expect Nifty to fall 2.2% in August series to 11,000 level. Nifty futures rollover stood at 74% versus an average rollover of 73% in last three series, while the cost to long rollovers stood at 48-50 basis points.
Read More Meanwhile... The new British PM on Thursday urged the EU to rethink their opposition to a recast of the Brexit deal, only to be immediately rebuffed by Brussels. In a parliamentary debut as leader, he warned that the terms of the agreement struck by his predecessor were "unacceptable" and would "sign away economic independence".
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