Stock markets merely reflect business cycles and human behaviour. The problem with the current downcycle in the Indian market is that many cycles are at play at the same time: business cycle, economic cycle, fiscal cycle, and also investor behaviour cycle. As one analyst puts it: "If you have spent adequate number of years in the market, you know this too will pass; things will turn around." And, as always, fortune will favour the brave!
STREET PULSE: Where we stand Asian shares are down as fresh worries about a globAsian shares edged ahead this morning after Wall Street got a boost from strong retail resultsal recession led investors to dump risky assets, with US President Donald Trump showing no sign of backing down in his trade war with China.
Read More  | SGX Nifty looked dull, down 15 points at 7 am (IST). MSCI index for Asia-Pacific shares outside Japan inched up 0.1%, Japan's Nikkei rose 0.4% and Australian shares 0.3% |
| In overnight trade on Wall Street, the Dow gained 0.93%, while the S&P500 rose 0.82% and the Nasdaq 0.90%. |
Oil prices rose on Thursday following a drawdown in US crude inventories, but global growth concerns capped the gains. Brent futures climbed 27 cents to $60.57 a barrel while WTI crude futures rose 35 cents to $56.03.
Read More | LOOK WHO'S |  |
Did We Hear 50 bps?... The US Fed debated cutting interest rates more aggressively at its last meeting, although central bankers were united in wanting to avoid the appearance of being on a path to more rate cuts, records from the meeting showed. Minutes for the meeting published on Wednesday showed a couple of participants indicated that they would have preferred a 50 basis points cut.
Read More | Fixing weak growth is not highest priority for RBI, show Aug 5 MPC minutes >>> |
| Sebi relaxes several requirements for FPIs to address key concerns >>> |
| In a breather for auto firms, govt will not set deadline for transition to EVs >>> |
Contra Play... Overseas funds have turned contrarian on Dalal Street, buying into select telecom, NBFC and auto stocks all through June quarter. They raised stakes in Bharti Airtel and Vodafone Idea in telecom; Shriram Transport, Gruh Finance, Equitas Holdings and Muthoot Finance from among NBFCs and Maruti and M&M in the auto space.
Read More | WHO'S |  |
Performance pressure showing up in India Inc...
The pressure on the occupants of India Inc's corner offices seems to be growing, if exits of CEOs and MDs at listed companies are any indication. As many as 58 MDs or CEOs who were also on the boards quit in the first seven months of 2019 due to stress across sectors, declining tolerance for underperformance at the highest level and increased scrutiny of performance and ethics.
Read More Tough Talk!... In unusually blunt language, the IMF has warned that US President Donald Trump's policy moves are counterproductive, won't achieve the desired results, and will slow the global economy, IMF chief economist Gita Gopinath said in a blog titled 'Taming the Currency Hype.'
Read More Meanwhile... CBI arrested senior Congress leader and former Union Finance Minister P Chidambaram from his residence late Wednesday evening in connection with the INX Media corruption and money laundering case hours after the Supreme Court refused to grant immediate hearing on his plea for interim protection from arrest and listed the matter for Friday.
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