The Lipstick Effect is now at play in the Indian economy! The economic jargon used to define stingy consumer behaviour in crisis times, when they spend more on low-ticket luxury and instant gratification items, is on full display in latest Nielsen data, which showed urban Indians are increasingly shifting to cheaper daily essentials, amid a feeling that they have lost net worth!
STREET PULSE: Where we stand  | Nifty futures on Singapore Exchange traded nearly 47 points down at 7 am (IST), signalling a possible tepid start for Dalal Street. Asian stocks opened mixed this morning, despite US shares having clawed back some of Monday's rout. Japanese shares saw modest drop, while Korean equities edged higher. On Wall Street, the Dow rose 311 points, the S&P500 gained 37.03 points and the Nasdaq 107.23 points. Read More |
| Brent crude has slid into the bear market, as the US-China trade spat threatened to expand into a currency war and investors despaired about the damage to crude demand. On Tuesday, Brent fell 1.5 per cent, thus completing an over 20 per cent drop from a late-April peak to meet the common definition of bear market. On Wednesday, prices fell amid demand worries, although a drop in US inventories cushioned the drop. Brent futures slipped 24 cents to $58.70 a barrel while WTI futures fell 20 cents to $53.43. Read More |
| LOOK WHO'S |  |
Respite?... Senior People's Bank of China officials reassured foreign companies on Tuesday that the yuan won't continue to weaken significantly, after the Chinese currency fell below 7 per dollar for the first time since 2008. They said the companies' ability to buy and sell dollars would remain normal.
Read More D-Street gets an upgrade... Credit Suisse has upgraded Indian market to a 'small overweight' from 'market weight' owing to improvement in valuations relative to Asian markets, high real interest rate, a negative correlation with global bond yields and low sensitivity to the dollar and the renminbi.
Read More | WHO'S |  |
Look, who is tightening the purse strings...
Growth in the fast-moving consumer goods sector has slumped in last four quarters in a row since July-September 2018, both by value and volume, as consumers shifted to cheaper daily essentials in urban markets and rural growth slowed. Value growth, or revenue earned, fell from 16.5 per cent in July-September 2018 to 10 per cent in the June quarter this year, Nielsen data showed. Growth by volume, or the number of packs sold, dropped from 13.4 per cent to 6.2 per cent in the same period.
Read More Cockpit row... IndiGo cofounder Rakesh Gangwal has told other directors of the airline that he cannot vote for a special resolution to expand the size of the board, until they agree to prevent fellow co-founder Rahul Bhatia from getting more powers and put in place a new policy on related-party transactions.
Read More Meanwhile... About 60 of the 220 NSE-listed companies that have published annual reports so far for FY19 have not fully spent the amount mandated for corporate social responsibility activities. They include India's most valuable firm TCS, lenders Kotak Mahindra Bank, Karur Vysya Bank Federal Bank, AU Small Finance, RBL Bank, and Zee, among others.
Read More 
Buy
Reduce
No comments:
Post a Comment