Follow Economic Times India, filter it, and define how you want to receive the news (via Email, RSS, Telegram, WhatsApp etc.) https://follow.it/economictimes-india Thu, 21 Sep 2023 23:02:56 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmdqrW0UL21IQ US to support Canada's investigation against India]]> Thu, 21 Sep 2023 21:13:25 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmdqrW0UL21IQ https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmunO-h6aC7Eg Wrestling:Panghal wins quota for Paris Olympics]]> Thu, 21 Sep 2023 20:51:37 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmunO-h6aC7Eg https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmt7LyPXFZvzA Boeing pitches for more P8I aircraft for Navy]]> Thu, 21 Sep 2023 20:42:35 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmt7LyPXFZvzA https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVl23ymA3-tjUw Gangster killed by unidentified men in Canada]]> Thu, 21 Sep 2023 20:09:18 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVl23ymA3-tjUw https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlj52bMVeKIaA HEC banks on collateral Secs to clear salaries]]> Thu, 21 Sep 2023 19:15:43 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlj52bMVeKIaA https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmEKBuomIo3IQ Oil rebounds as Russia bans most fuel exports]]> Thu, 21 Sep 2023 17:52:43 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmEKBuomIo3IQ https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkHYKPUFHJefQ Benchmark 10-year U.S. Treasury yields rose to 16-year highs on Thursday, a day after the Federal Reserve surprised investors by flagging the potential for an additional rate hike, and an expectation for fewer cuts next year.The U.S. central bank held interest rates steady, as was widely expected, and said that its benchmark overnight interest rate may still be lifted one more time this year to a peak 5.50%-5.75% range.It also now expects half a percentage point of rate cuts in 2024. As of June, Fed officials had expected to cut rates by a full percentage point next year."It caught the markets by surprise because there was this sense that three months of encouraging inflation data would kind of bring down the temperature at the Fed," said Will Compernolle, macro strategist at FHN Financial in New York."But, for a number of reasons, they still feel like they need to stay hawkish - they need to stay very ready to continue to be restrictive," Compernolle added.Fed chairman Jerome Powell on Wednesday said that a "solid" economy with still "strong" job growth will allow the central bank to keep that additional pressure on financial conditions through 2025 with much less of a cost to the economy and labor market than in previous U.S. inflation battles.He added that "we want to see convincing evidence really, that we have reached the appropriate level" of interest rates to return inflation to the Fed's 2% target.Whether the Fed follows through with its hawkish outlook will depend on economic data.Fed funds futures traders are pricing in only a partial chance of an additional rate hike, with a 32% probability in November and 45% chance by December, according to the CME Group's FedWatch Tool.Benchmark 10-year note yields hit 4.490%, the highest since November 2007. Interest rate sensitive two-year yields reached 5.202%, the highest since July 2006.The inversion in the yield curve between two-year and 10-year notes narrowed to minus 69 basis points.Data on Thursday showed that the number of Americans filing new claims for unemployment benefits unexpectedly fell last week, but could rebound in the weeks ahead as a partial strike by the United Auto Workers (UAW) union forces automobile manufacturers to temporarily lay off workers because of shortages of some materials.The U.S. Treasury Department will sell $15 billion in 10-year Treasury Inflation-Protected Securities (TIPS) on Thursday.]]> Thu, 21 Sep 2023 17:43:44 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkHYKPUFHJefQ https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlFMPqTTSmwCA JSW Steel goes slow on stake buy in Canada coal unit]]> Thu, 21 Sep 2023 17:15:35 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlFMPqTTSmwCA https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkUrIdGo3nCgQ Transport vehicles' fitness testing date extended]]> Thu, 21 Sep 2023 16:41:02 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkUrIdGo3nCgQ https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmcJnT77lZtRQ India slips one notch on economic freedom index]]> Thu, 21 Sep 2023 16:29:11 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmcJnT77lZtRQ https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlTtw4inYnQiQ Rupert Murdoch steps down as chair of Fox, News Corp]]> Thu, 21 Sep 2023 15:28:08 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlTtw4inYnQiQ https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmYgpJZt4oa6A IndiGo, British Airways enter into codeshare deal]]> Thu, 21 Sep 2023 14:42:50 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmYgpJZt4oa6A https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmYETjat_M4Nw Adani forms key JV to redevelop Dharavi]]> Thu, 21 Sep 2023 14:17:19 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmYETjat_M4Nw https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVm9RE4Dkyx9yA Nifty ended Thursday’s weekly expiry 159 points lower to form a long bear candle with an unfulfilled opening down gap on the daily chart. Technical analysts say sharp reversals with more gap-up or gap-down moves indicate that the trend could continue longer.The next important support to be watched is around 19,550 levels, which is a weekly 10-period EMA. Minor upside bounce is to be expected from the supports, but the said bounce could be a sell-on-rise opportunity, said Nagaraj Shetti of HDFC Securities.In terms of Open Interest (OI) data, the highest OI on the call side was observed at the 20,000 strike price, followed by the 19,900 strike price. On the put side, the highest OI was concentrated at the 19,800 strike price.The daily momentum indicator provided a negative crossover, a sell signal, and is now in sync with the price action.What should traders do? Here’s what analysts said:Jatin Gedia, Sharekhan by BNP ParibasNifty is in the process of retracing the rise it has witnessed 19,223 – 20,222. It has now reached the zone of 19,720 – 19,680 where support in the form of the 20-day moving average and the 50% Fibonacci retracement level is placed. We expect Nifty to hold on to this support and provide a pullback.Rupak De, Senior Technical analyst at LKP SecuritiesNifty closed below the 20-EMA, signaling a diminishing bullish sentiment. Weakness appears evident with a bearish crossover in the RSI. Selling on rallies remains the favored strategy as long as it stays below 20,000. On the downside, support is situated in the range of 19,700/ 19,630.Shrikant Chouhan, Head of Research (Retail), Kotak SecuritiesNifty has completed one leg of correction, and for the bulls now, 19700 would be the key level to watch out for. If the index succeeds in trading above the same, then we could expect one relief rally, and above 19,700 the market could rally till 19,825-19,875. On the flip side, fresh selling is possible only after the dismissal of 19700, and below the same, the index could slip to 19650-19600.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)]]> Thu, 21 Sep 2023 13:58:08 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVm9RE4Dkyx9yA https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlGI-UOawLPcQ Disclose weekly stocks: Govt to sugar traders]]> Thu, 21 Sep 2023 13:42:16 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlGI-UOawLPcQ https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkoxR0IdPKDhA Canada tensions affecting Indians living there: SAD]]> Thu, 21 Sep 2023 13:26:32 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkoxR0IdPKDhA https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVn847AwM8Nq0g Cigarette demand likely to rise by 9% this fiscal]]> Thu, 21 Sep 2023 13:07:48 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVn847AwM8Nq0g https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkD8J02w3Zhhw LONDON- The Bank of England halted its long run of 14 straight interest rate hikes on Thursday as the British economy slowed, but it said it was not taking a recent fall in inflation for granted. A day after a surprise slowing in Britain's fast pace of price growth, the BoE's Monetary Policy Committee voted by a narrow margin of 5-4 to keep Bank Rate at 5.25%. Four members - Jon Cunliffe, Megan Greene, Jonathan Haskel and Catherine Mann - voted to raise rates to 5.5%. It was the first time since December 2021 that the BoE did not increase borrowing costs. "There are increasing signs of some impact of tighter monetary policy on the labour market and on momentum in the real economy more generally," the MPC said in a statement. It cut its forecast for economic growth in the July-September period to just 0.1% from August's forecast of 0.4% and noted clear signs of weakness in the housing market. Growth for the rest of the year was likely to be weaker than previous forecasts, the BoE said. Record growth in workers' pay, which has been a big concern for the central bank, was not backed up by other measures of the labour market, it noted, suggesting the BoE's policymakers expected it to slow down soon. "CPI inflation is expected to fall significantly further in the near term, reflecting lower annual energy inflation, despite the renewed upward pressure from oil prices," the BoE said. But it said services inflation was expected to remain elevated. The BoE's decision to pause its rate hikes came a day after the U.S. Federal Reserve also opted to keep borrowing costs on hold. Last week, the European Central Bank raised rates but suggested it might be the last for now. The MPC reiterated its message that it was prepared to raise borrowing costs again if needed. "Further tightening in monetary policy would be required if there were evidence of more persistent inflationary pressures," the statement said, and it repeated the guidance that monetary policy would be "sufficiently restrictive for sufficiently long" to get inflation back to its 2% target from 6.7% in August. Governor Andrew Bailey and other MPC members have recently suggested the BoE was close to pausing its run of interest rate increases but they have also stressed that borrowing costs are likely to remain high to ensure inflation pressures are squeezed out of the economy. In a separate statement on Thursday, Bailey welcomed the recent fall in inflation and BoE forecasts that it would continue to ease. "But there's no room for complacency," he said. "We need to be sure inflation returns to normal and we will continue to take the decisions necessary to do just that." The MPC agreed to speed up the pace of its programme to shrink the massive stockpile of government bonds that the central bank acquired over the past decade and a half as it sought to steer the economy through the global financial crisis and the coronavirus pandemic. As investors had widely expected, the stockpile will be reduced by 100 billion pounds over the next 12 months - by a combination of sales and allowing bonds to mature - to a total of 658 billion pounds, the BoE said, faster than the 80 billion pounds reduction over the past year.]]> Thu, 21 Sep 2023 13:05:37 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVkD8J02w3Zhhw https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmy-BmP7SAQOg D-St's new kid gives India 1st metaverse jewellery store]]> Thu, 21 Sep 2023 13:04:08 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVmy-BmP7SAQOg https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlm-emywBUqxg Nine Vande Bharat trains to be launched this Sunday]]> Thu, 21 Sep 2023 12:36:14 +0200 https://api.follow.it/track-rss-story-click/v3/pTH6WBIzKVlm-emywBUqxg