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India's retail inflation is projected to surge to 6.15% in October, exceeding the Reserve Bank of India's (RBI) tolerance threshold of 6%, according to a new report by Union Bank of India. The spike is attributed to persistent <keyword id="21013592" type="General" weightage="20" keywordseo="food-price-pressures" source="keywords">food price pressures</keyword> and the waning of favorable base effects from the previous year. Earlier this month, RBI governor Shaktikanta Das also echoed similar sentiments and noted that the inflation print for October 2024 could stay well above 5.5%. This is why, as Das highlighted, cutting interest rates as early as December would be very early and premature The <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) data for October, which will be released at 4 pm on Tuesday, as opposed to the previous practice of releasing this data at 5:30 pm on the 12th of every month, follows September's inflation reading of 5.49%, up from 3.65% in August 2024. The last time inflation breached the RBI's upper limit was in August 2023. Despite the RBI's anticipation of an October inflation "hump," the Union Bank report suggests that the magnitude of the increase might raise concerns, particularly as November's figures are also tracking at elevated levels. The bank maintains its forecast of unchanged interest rates in December's monetary policy meeting, with a modest 50 basis points rate cut cycle predicted to begin in February 2025. Food inflation remains a key driver of price pressures, with vegetables and edible oils leading the recent surge. In September 2024, India's YoY food inflation rate hit 9.24%, up from 5.66% in the month prior. However, the report projects some easing of food inflation in the January-March quarter, citing typical winter price moderation and improving prospects for rabi crops. Despite this, potential risks from food supply disruptions, imported edible oil prices, and the impact of potential trade tariff hikes will exist. The RBI, which aims to maintain retail inflation at 4%, has held the repo rate steady at 6.5% for the tenth consecutive time in its last meeting as part of its inflation containment strategy. A recent SBI report also noted that expecting rate cuts in this quarter would be immature, and easing was possible only during the first half of 2025. "Given the current estimates of FY25 real GDP growth at 7.2% and CPI at 4.50%, the RBI would quite possibly keep policy rates stable over the coming quarter at least. Emerging trends in the growth outlook would possibly determine the timing and extent of any policy easing. With near-term CPI numbers likely to stay elevated, it’s premature to consider expectations of any easing in the December review. "However, high-frequency data do validate a softness in growth data on an incremental basis. Given the anticipated aligning of CPI closer to the target over H2, a shallow easing, if any can be a reasonable possibility over H1 of CY 25", it added.

Retail inflation expected to breach 6% mark in October, says UBI Report

Mumbai: The rupee slipped 1 paisa to an all-time low of 84.40 against the US dollar in early trade on Wednesday, as persistent <keyword id="20520117" type="General" weightage="20" keywordseo="foreign-fund-outflows" source="keywords">foreign fund outflows</keyword> and a muted trend in domestic equities weighed on the local unit. Forex traders said the USDINR pair has shown significant volatility in recent sessions, with the rupee inching closer to its all-time low of 84.40. This downward pressure is largely driven by global factors, particularly the Dollar Index's strengthening. At the interbank foreign exchange, the rupee opened at 84.40 against the greenback, registering a fall of 1 paisa over its previous close. On Tuesday, the rupee fell 1 paisa to a new lifetime low of 84.39 against the US dollar. "It appears that the rupee has established support around the current levels, with depreciation limited near 84.50," CR Forex Advisors MD Amit Pabari said. Pabari further added that the RBI stands tall as the depreciation in the rupee seems to be limited as the <keyword id="19899810" type="General" weightage="100" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword> (RBI) continues to sell the dollars to protect the sharp depreciation. "For the 5th consecutive week, India's forex reserves declined, possibly due to RBI selling the dollars. Currently, the forex reserves of India stand at USD 682 billion down from the recent all-time high of USD 704 billion," he said. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading lower by 0.04 per cent at 105.98. Brent crude, the global oil benchmark, rose 0.25 per cent to USD 72.07 per barrel in futures trade. On the domestic equity market front, Sensex was trading 210.66 points, or 0.27 per cent lower, to 78,464.52 points. The Nifty fell 100.45 points, or 0.42 per cent, to 23,783.00 points. Foreign Institutional Investors (FIIs) were net sellers in the capital markets on Tuesday, as they offloaded shares worth Rs 3,024.31 crore, according to exchange data. On the macroeconomic front, retail inflation breached the Reserve Bank's upper tolerance level, soaring to a 14-month high of 6.21 per cent in October mainly on account of rising food prices. Inflation based on the consumer price index (CPI) was 5.49 per cent in September and 4.87 per cent in the year-ago month. India's industrial production expanded by 3.1 per cent in September after recording a contraction in the preceding month, as all three major segments -- mining, manufacturing, and power generation -- showed improvement. However, the growth in the Index of Industrial Production (IIP) during the month was lower than 6.4 per cent registered in September 2023.

Rupee falls 1 paisa to all-time low of 84.40 against US dollar in early trade

<div type="image" title="SBI report says inflation will remain around 5 per cent this fiscal" agency="ANI" msid="112275933" hostid="261" caption="&amp;lt;p&amp;gt;SBI report says inflation will remain around 5 per cent this fiscal &amp;lt;/p&amp;gt;"></div>The Consumer Price <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">Inflation</keyword> in India is expected to remain around 5 per cent in the financial year 2024-25 except for September and October month, according to a research report by <keyword id="13222" type="General" weightage="20" keywordseo="sbi" source="Orion">SBI</keyword>. The report also noted that the inflation outlook in India remains a critical focus for the <keyword id="19899810" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="keywords">Reserve Bank of India</keyword> (RBI). Recent data indicates that the <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) inflation rose to 5.08 per cent in June 2024, driven primarily by higher food and beverage prices. "CPI inflation is expected to remain below or close to 5.0 per cent in the remaining months, except for Sep'24 and Oct'24" said the report. The report also added that the monsoon season plays an important role in shaping food prices, and while the current monsoon has shown a satisfactory surplus, excess rainfall could lead to crop losses, adversely affecting food inflation. The RBI's ability to manage inflation expectations is crucial, especially as it navigates the delicate balance between supporting <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> and maintaining <keyword id="19960158" type="General" weightage="20" keywordseo="price-stability" source="keywords">price stability</keyword>. "With monsoon progressing satisfactorily with 2 per cent surplus till date and progress of area coverage under Kharif crops showing 2.9 per cent yoy, we expect inflation to remain within RBI target in FY25. However, with La Nina getting precedence, excess rainfalls could result in crop loss and thus a negative impact on food prices" the report added. In response to the evolving economic landscape, the report mentioned that the RBI is likely to continue its stance of withdrawing accommodation. This approach aims to address inflationary pressures while ensuring that the economy remains on a growth trajectory. However, the central bank faces challenges in policy transmission, as deposit rates have shown downward rigidity despite a declining weighted average lending rate (WALR). This situation complicates the RBI's efforts to implement effective monetary policy. "Even though the Banks are chasing deposits to fund the incremental credit growth, RBI recent report suggests, the weighted average lending rate (WALR) on fresh rupee loan decreased by 11 bps from the beginning of the year (i.e. from 9.43 in January'24 to 9.32 in June'24)" the report noted. Looking ahead, the RBI's decisions will be influenced by both domestic and global economic conditions. The potential for a recession in the US and geopolitical tensions could impact inflation dynamics in India. As such, the RBI's monetary policy will need to remain flexible and responsive to these external factors while striving to achieve its inflation targets and support sustainable economic growth. (ANI)

SBI report says inflation will remain around 5 per cent this fiscal

India is celebrating <keyword id="23288581" type="General" weightage="20" keywordseo="Dhanteras" source="keywords">Dhanteras</keyword> today, even as the public remains cautious about adding gold's glitter to their portfolios, given the metal's sky-high prices. <keyword id="19910265" type="General" weightage="100" keywordseo="gold-prices" source="keywords">Gold prices</keyword> went past the Rs 81,000 mark today in Delhi. Per IBJA (<keyword id="20397944" type="General" weightage="20" keywordseo="India-Bullion-and-Jewellers-Association" source="keywords">India Bullion and Jewellers Association</keyword> Ltd.), the cost of 24K gold stood at Rs 7,885/gram today, while 22K gold was priced at Rs 7,695/gram. While jewelers anticipate some increase in customer footfall today, between afternoon and late evening, the All India Gem and Jewellery Domestic Council expects sales volumes to remain steady at around 20 tons. However, per their estimates, sales this year might be down by 5% compared to last year. The <keyword id="19921618" type="General" weightage="20" keywordseo="Confederation-of-All-India-Traders" source="keywords" meta.keywordsubtype="org" meta.entityname="Confederation of All India Traders" meta.hostid="261" meta.entityid="Confederation of All India Traders">Confederation of All India Traders</keyword> (CAIT) projects nationwide retail trade worth Rs 50,000 crore during this Dhanteras. Even quick-commerce companies are cashing in on the Dhanteras sentiment. While Blinkit has partnered with Joyalukkas and Malabar Gold and Diamonds to deliver gold and silver coins in 10 minutes, Zepto has teamed with Augmont and Malabar for the same. Per media reports, Swiggy Instamart has partnered with Muthoot Exim and Malabar, while BigBasket has tied up with Tanishq. Legend has it that it was on this day that Lord Dhanvantari, the deity of health, appeared today, making brass utensils particularly auspicious for purchase. People also seek blessings from Lord Ganesha, Goddess Lakshmi, and Lord Kuber, and it is considered auspicious to buy gold and silver jewelry, utensils, kitchenware, vehicles, garments, and electronics on this day. <h2>The appreciation of gold</h2> Gold has had a great run this year, having a YTD (yield-to-date) of 24%. Despite high prices, the demand for gold this festive and wedding season is expected to remain buoyant in India. The yellow metal's demand as a haven has jumped up significantly in recent times, owing to <keyword id="19955176" type="General" weightage="20" keywordseo="geopolitical-tensions" source="keywords">geopolitical tensions</keyword> like the ongoing Israel-Hamas conflict. Moreover, with governments across the world trying to tame inflation and boost spending by way of rate cuts, gold is increasingly being seen as an effective hedge against inflation. Experts suggest that the demand is set to remain elevated for the times to come. "The immediate outlook for gold remains robust, supported by the recent import duty reduction from 15% to 6%, which has already stirred significant market activity with imports doubling year-over-year. Despite price changes, the traditional festive and wedding seasons continue driving strong demand, with consumers adapting their purchasing patterns," says Vikas Singh, Managing Director &amp; CEO of MMTC-PAMP. "Looking ahead, multiple structural factors paint a positive long-term picture. There is an overall trend of increasing gold holdings providing sustained price support. While physical gold remains paramount, there's increasing interest in gold investments, particularly among urban consumers," he continues. <h2>How to check if your gold is pure </h2>First, always make sure to buy only hallmarked physical gold. "Hallmarking is the accurate determination and official recording of the proportionate content of precious metal in the precious metal article. Hallmarking provides consumers with third-party assurance and satisfaction that they get the right purity of gold (or silver), the government noted in a press release yesterday, urging customers to buy only <keyword id="23040621" type="General" weightage="20" keywordseo="hallmarked-gold" source="keywords">hallmarked gold</keyword> and silver. Hallmarked gold is characterized by a few specific marks, like the logo of BIS (Bureau of Indian Standards), the jeweler's mark, and that of the hallmarking center. During the process of hallmarking, each piece of gold or silver is assigned a 6-digit alphanumeric code or HUID (Hallmark Unique Identification). Download the BIS Care app on your phone and enter this code using the verify HUID icon on the app. This will help you test the veracity of your purchased gold.

Gold continues to shine bright on Dhanteras, but should you participate in the glitter?

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> is planning a <keyword id="22964001" type="General" weightage="100" keywordseo="repairability-index" source="keywords">repairability index</keyword> for <keyword id="20016418" type="General" weightage="20" keywordseo="mobile-phones" source="keywords">mobile phones</keyword> and electronic products to address the growing <keyword id="19932462" type="General" weightage="20" keywordseo="e-waste" source="keywords">e-waste</keyword> problem and encourage manufacturers to produce more easily repairable items, officials said on Thursday. The <keyword id="20026051" type="General" weightage="20" keywordseo="Consumer-Affairs-Ministry" source="keywords" meta.keywordsubtype="org" meta.entityname="Consumer Affairs Ministry" meta.hostid="261" meta.entityid="Consumer Affairs Ministry">Consumer Affairs Ministry</keyword> is spearheading the initiative, which will provide a score on key parameters to inform consumers about the ease with which a product can be repaired, the officials said at a national workshop on the issue. Addressing the workshop, <keyword id="20003684" type="General" weightage="20" keywordseo="consumer-affairs" source="keywords">Consumer Affairs</keyword> Secretary Nidhi Khare said: "As India emerges as the third largest economy in the world, we should have a vibrant and tech-savvy repair system." She also added, "India can become a repair hub for the world." The proposed index will be similar to initiatives in other countries, such as France's repairability index. It will rate products on criteria including availability of technical documents, ease of disassembly, spare parts availability and pricing. The workshop was aimed at establishing a consensus among industry stakeholders on "key parameters for accessing and evaluating repairability index" besides promoting longevity in product design, and democratizing repair information to enhance consumer experiences in reusing the mobile and <keyword id="19896834" type="General" weightage="20" keywordseo="electronics" source="keywords">electronics</keyword> products they own. Additional Secretary Bharat Khera emphasized the need for transparent and affordable repair solutions, increased consumer awareness, and support for local repairers. Joint Secretary Anupam Mishra highlighted concerns about the lack of genuine spare parts in local markets, compatibility issues with product components, and the absence of information for consumers to repair their own devices. He also mentioned that the Repairability Index of France rates products on five criteria, while the EU has additional parameters. <keyword id="20032279" type="General" weightage="20" keywordseo="HCL-Technologies" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Technologies" meta.hostid="261" meta.entityid="HCL Technologies">HCL Technologies</keyword> Founder Ajai Chowdhry called for legislation to drive change. "Today, most products are not repairable. We need to design products which can be repaired.... Unless we create a law, things will not change," he said. The government has already launched a <keyword id="22964002" type="General" weightage="20" keywordseo="Right-to-Repair-Portal" source="keywords">Right to Repair Portal</keyword>, with 63 companies onboard, including 23 from the mobile and electronics sector. India is the third largest electronic waste producer globally after China and the US. The initiative aims to reduce e-waste, promote <keyword id="20128078" type="General" weightage="20" keywordseo="sustainable-practices" source="keywords">sustainable practices</keyword>, and create opportunities for third-party repairers in India's growing electronics market.

India plans repairability index for mobile, electronics to tackle e-waste

Prime Minister Narendra Modi, on Wednesday, congratulated Reserve Bank of India's (RBI) Governor, Shaktikanta Das for bagging an A+ grade rating in the Global Finance Central Banker Report Cards 2024. Prime Minister in a post on social media "X" said, "Congratulations to RBI Governor Shri @DasShaktikanta for this feat, and that too for the second time. This is a recognition of his leadership at the RBI and his work towards ensuring <keyword id="19900794" type="General" weightage="20" keywordseo="economic-growth" source="keywords">economic growth</keyword> and stability." <keyword id="20850250" type="General" weightage="20" keywordseo="RBI-Governor-Das" source="keywords">RBI Governor Das</keyword> has been awarded the A+ grade rating for the second consecutive year. The Central Banker Report Cards, published annually by Global Finance since 1994, grade the central bank governors of nearly 100 key countries, territories, and districts, as well as the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States and the Central Bank of West African States. Grades are based on an "A+" to "F" scale for success in areas such as <keyword id="21364628" type="General" weightage="20" keywordseo="inflation-control" source="keywords">inflation control</keyword>, economic growth goals, currency stability and <keyword id="22859834" type="General" weightage="20" keywordseo="interest-rate-management" source="keywords">interest rate management</keyword>. "A" represents an excellent performance, down through "F" for outright failure. "Central bankers have waged war against <keyword id="19895000" type="General" weightage="20" keywordseo="inflation" source="keywords">inflation</keyword> over the past few years, wielding their primary weapon: higher interest rates. Now, countries around the world are witnessing the tangible results of these efforts, as inflation has dropped significantly," said Global Finance founder and editorial director Joseph Giarraputo. The RBI has been successful in controlling the larger macroeconomic situations in the country. The apex bank is actively working to push economic growth through its <keyword id="20900764" type="General" weightage="20" keywordseo="monetary-policies" source="keywords">monetary policies</keyword>. The RBI recently kept the the <keyword id="20094323" type="General" weightage="20" keywordseo="repo-rate" source="keywords">repo rate</keyword> unchanged at 6.5 per cent after the deliberations of the Monetary Policy Commitee meeting earlier this month. The move reflects the central bank's cautious approach amid ongoing economic uncertainties. Announcing the monetary policy decisions, Das had said that the decision to keep the repo rate steady comes amidst persistent concerns about inflation, which remains above the RBI's target range. RBI Governor Das said that the inflation will moderate from July onwards as the monsoon has improved and global food prices have shown signs of easing in July. The Q1 <keyword id="19999655" type="General" weightage="20" keywordseo="Consumer-Price-Index" source="keywords">Consumer Price Index</keyword> (CPI) inflation for the current financial year (2024-25) is projected at 4.5 per cent. CPI inflation for the first quarter of the next financial year (Q1 2025-26) is projected at 4.4 per cent, as announced by the RBI Governor. India's retail inflation, after breaching 5 per cent in June, softened drastically in July. In line with the moderation in retail inflation, wholesale inflation in India too witnessed a sharp decline in July. The annual rate of inflation based on all India Wholesale Price Index (WPI) numbers is 2.04 per cent (provisional) for July 2024 (over July 2023).

PM Modi congratulates RBI Governor Das on A+ rating in Global Finance Report

<keyword id="19936542" type="General" weightage="20" keywordseo="Vivo" source="keywords" meta.keywordsubtype="org" meta.entityname="Vivo" meta.hostid="261" meta.entityid="Vivo">Vivo</keyword>'s next flagship product, the <keyword id="22590722" type="General" weightage="100" keywordseo="Vivo-X200-Pro" source="keywords">Vivo X200 Pro</keyword> is expected to launch in India soon. The phone launched in China earlier this month and since then, rumours around its India launch have been doing rounds. Building on the popularity of last year’s Vivo X100, which launched in India in December, Vivo’s new flagship is likely to follow a similar release schedule. Speculations suggest the Vivo X200 Pro could hit the Indian market as early as November or December. While Vivo remains tight-lipped about the exact launch date, recent certification listings hint at a rollout soon. With its latest model, Vivo appears to be blending its signature camera expertise with updated design and robust performance, making it a contender for photography enthusiasts, power users, and tech-savvy individuals alike. Here’s a closer look at what the X200 Pro has to offer and why it’s attracting significant buzz even before its official India debut. <h2>Vivo X200 Pro expected specs </h2> Looking at the phone that was launched in China, the Vivo X200 Pro takes a different approach from its predecessors, trading the sleek curves and edge-to-edge feel for a flat display with a boxier frame. This change in design caters to those who prefer a more substantial feel in their hands, aligning with trends seen in some premium smartphones that prioritize aesthetics and functionality. The familiar circular rear camera module, a hallmark of the X-series, remains, giving the phone a touch of continuity. While subtle, these design updates offer a refreshed yet recognisable look. Vivo’s reputation as a camera-centric brand is further cemented in the X200 Pro, which boasts an impressive camera setup in collaboration with Zeiss. The triple-lens configuration includes a 50-megapixel LYT-818 main sensor and a 50-megapixel ultra-wide lens for sweeping landscape shots. However, the true showstopper here is the 200-megapixel Zeiss APO telephoto camera, designed to capture minute details and offer striking zoom quality. In the front, the X200 Pro sports a 32-megapixel front camera. With software tweaks and AI enhancements, it promises to provide exceptional results, both in low light and in everyday settings. Vivo’s use of Zeiss optics and processing technology underscores its dedication to high-quality imaging, catering to everyone from casual photographers to content creators. The phone features a 6.78-inch OLED display with a 1.5K resolution and a 120Hz refresh rate. It also comes with a peak brightness of 4500 nits. Under the hood, the X200 Pro runs on MediaTek’s Dimensity 9400 chipset, supported by up to 16GB of RAM and an impressive 1TB of internal storage. The X200 Pro’s 6,000mAh battery promises that the phone has the endurance to last through extended usage, and it supports 90-watt fast charging, providing a quick boost when needed. <h2>When is Vivo’s X200 Pro coming in India? </h2> Although Vivo hasn’t officially confirmed the India launch date, industry experts speculate that it could be unveiled within the next two months. The recent certification sightings on Taiwan’s NCC and Malaysia’s SIRIM sites suggest that Vivo is preparing for a broader release beyond China. Given the growing demand for high-quality smartphones that can double as professional cameras, the X200 Pro is positioned to capture a significant share of India’s premium smartphone market. The expected November-December timeline could align well with holiday season sales, giving Indian consumers a chance to upgrade their devices during a peak shopping period. While official pricing remains unannounced, Vivo’s competitive pricing strategies in the past suggest the X200 Pro could appeal to a wide range of users looking for flagship features without the flagship price tag.

Vivo X200 Pro expected to launch in India soon: Specifications, India price and all you can expect

In early Wednesday trading, the Indian rupee slid 14 paise to hit an all-time low of 84.23 per US dollar, weighed down by continued outflows of foreign funds and a robust US dollar in global markets. Forex analysts highlighted the volatility stemming from the ongoing US elections, suggesting that stability could return once results are clear in this close race. The US Federal Reserve is also on the radar, with an anticipated interest rate cut this week and a projected easing of up to 100 basis points by 2025. At the interbank forex market, the rupee opened at its historic low of 84.23 against the dollar, down from its previous close of 84.09. On Tuesday, the currency had ended slightly stronger, gaining 2 paise. Meanwhile, the dollar index, which tracks the strength of the US dollar against six major currencies, climbed 1.64% to 105.11. According to Anil Kumar Bhansali, Head of Treasury at Finrex Treasury Advisors, the index rose following initial election results showing former President Trump ahead, with the Republican party also leading in both the Senate and the House of Representatives. The global oil market saw movement as Brent crude prices dipped 0.98%, trading at USD 74.79 per barrel. Bhansali noted that the rupee’s trajectory will heavily depend on the Reserve Bank of India’s (RBI) response, particularly as the currency fluctuates with real-time election outcomes. He estimated an intra-day trading range between 84.00 and 84.35. On the domestic front, Indian stock markets showed positive trends. The Sensex climbed by 390.93 points (0.49%) to reach 79,867.56, while the Nifty rose by 135.60 points (0.56%) to 24,348.90. Despite these gains, foreign institutional investors (FIIs) were net sellers on Tuesday, pulling out Rs 2,569.41 crore from the capital markets, as per stock exchange data. This withdrawal underscores the challenges facing the Indian currency amid global financial uncertainties. (with PTI inputs)

Rupee hits record low of 84.23 against US dollar amidst US elections 2024

Indian companies across multiple sectors have reported disappointing results in the second quarter of fiscal year 2025, notes a new JM Financials report. Consequently, their poor performance has triggered stock price corrections for affected companies. The brunt of this weaker than expected earnings was largely borne by consumer centric sectors like FMCG (fast moving consumer goods), retail, and auto, which slacked largely due to dampened urban demand. For instance, India's largest automaker, Maruti Suzuki, reported a 5% YoY decline in its total domestic passenger vehicle wholesales, largely on the back of pent-up inventory. Similarly, Honda reported a staggering 23% YoY dip in its total sales during October 2024. A recent report by Bernstein noted that around 48% of the companies listed on the NSE100 index missed their earnings estimate for Q2FY25, the highest since March 2020. Most companies have mentioned deteriorated domestic demand, urban slowing, macroeconomic risk, and margin pressures as the main reasons behind the dip. "The quarter's earnings have made investors nervous," noted the JM Financials report. The challenging environment stems from multiple factors: softening consumer demand, rising input costs, and companies' limited ability to increase prices. Moreover, this is not limited to just one quarter. Companies have been reporting weak, single-digit earnings growth for the last six consecutive quarters. Data from India Data Hub also suggests that corporate profits of listed companies plunged by as much as 3.4% during the quarter ended September 30, 2024. This is in stark contrast to the year-ago period, where they had shot up by over 40% The oil and gas sector had a difficult quarter, with refiners hit by weak margins and city gas distributors struggling with higher input costs. Financial institutions showed mixed results. While government-owned banks reported strong numbers, microfinance institutions and some private lenders faced massive difficulties with their unsecured loans. Most notable amongst this was the case of IndusInd Bank, which saw its net profits dip by 40% amidst burgeoning provisions, which climbed 87% to Rs 1,820 crore in Q2, as against Rs 974 crore reported in the year-ago period. <h2>Markets head southwards</h2>The selling trend by FPIs has dragged down the major Indian indices, the Nifty 50 and Sensex, both of which have dropped by around 8% since the beginning of this selling spree in October. According to National Securities Depository Ltd. (NSDL) data, FPIs offloaded equities worth a significant Rs 19,994 crore in just the first five trading sessions of November last week. The impact is clearly visible on Indian stock markets. Data suggests that while every sector in October closed the month in red, auto, oil and gas, and consumer durables were the most badly hit, each declining by as much as 10% during the month. Another indicator underlining the inherent weakness of the market was that the month saw only 242 stocks hit their 52-week high, significantly below the usual monthly average of 310.

India Inc. stares at an earnings dearth in Q2, FMCG, auto, and consumer durables falter

<keyword id="19900795" type="General" weightage="20" keywordseo="foreign-investors" source="keywords">Foreign investors</keyword> are currently making a beeline for <keyword id="19894886" type="General" weightage="100" keywordseo="China" source="keywords">China</keyword>, enthused by the gush of <keyword id="23496485" type="General" weightage="20" keywordseo="financial-stimulus" source="keywords">financial stimulus</keyword> injected by the government into the Chinese economy. While this may have temporarily sent their stock markets soaring, a recent report by the <keyword id="19899824" type="General" weightage="20" keywordseo="World-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="World Bank" meta.hostid="261" meta.entityid="World Bank">World Bank</keyword> notes that this might not be enough to push back the <keyword id="19904090" type="General" weightage="20" keywordseo="economic-slowdown" source="keywords">economic slowdown</keyword> that has already set in. China's growth rate is projected to slack further to 4.3% in 2025, down from its present rate of 4.8%. The <keyword id="19916574" type="General" weightage="20" keywordseo="OECD" source="keywords" meta.keywordsubtype="org" meta.entityname="OECD" meta.hostid="261" meta.entityid="OECD">OECD</keyword> also expects the country's growth to slow down to 4.5% in 2025 Experts believe that the recent economic push by the government, which includes lowering reserve requirement ratio (RRR) by 0.5% to 6.6%, lowering mortgage rates, injecting $142 billion into banks, among others, are too little to sustain long-term recovery. Notably, lowering RRR frees up $140 billion for banks to lend, while reducing mortgages and minimum down payments for housing purchases are directed to spur up the Chinese real estate segment. Per <keyword id="19906485" type="General" weightage="20" keywordseo="Goldman-Sachs" source="keywords" meta.keywordsubtype="org" meta.entityname="Goldman Sachs" meta.hostid="261" meta.entityid="Goldman Sachs">Goldman Sachs</keyword>, weak domestic demand, dwindling consumer confidence and spending and an endless real-estate crisis are some of the main reasons for the slowdown.The average Chinese citizen still grapples with job insecurity, stagnant salaries, and depreciating real estate and equity values. For instance, China's last public holiday of the year, the Golden Week, which ended on October 7 and commemorates the nation's founding, saw 2% less spending per domestic trip, as compared to pre-pandemic levels. "Low tourism spending per head and subdued services prices highlight the still weak domestic demand and continued consumption downgrading in the country,” the analysts at GS noted. <h2>Its all temporary</h2>The <keyword id="21360606" type="General" weightage="20" keywordseo="Hang-Seng-index" source="keywords">Hang Seng index</keyword>, which is up by 4.22% today, has been seeing a meteoric rise over the past few weeks. Inching up by a little over 24% over the last month, the Chinese markets have been seeing an significant influx of foreign investment, largely at the expense of other emerging markets like India. Foreign investors had offloaded shares worth Rs 27,142 crore between the first and third of this month, after foreign investments reached a staggering record-high of Rs 93,538 crore in September, as per NSDL data. Over the last 10 days, FIIs have constantly been net sellers, while DIIs have been net buyers. As of October 10th, DII (Domestic Institutional Investors) have put in Rs 50,183 crores in Indian markets, almost balancing out Rs 49,305.29 crore withdrawn by foreign investors. But whether this trend of FII inflow in China continues will largely depend on the fundamentals their economy, an area where India has an edge, thanks to strong confidence of domestic investors. Viram Shah, CEO of Vested Finance highlights that while the Hang Seng index's recent 26% surge over the last month has caught investors' attention, and while this bullish trend is expected to continue, driven by low Chinese stock valuations and hopes for economic improvement from government stimulus, there lies a long road ahead. "Foreign Portfolio Investors (FPIs) pulled out $5.4 billion from Indian equities over five consecutive sessions, ending Monday, October 7. While this suggests a possible rotation of funds from India to China, how long this shift will last will depend on the Chinese government’s ability to resolve the structural economic issues. While the market rally is encouraging, more policy steps are needed to boost economic activity and confidence in China", he added.

All eyes on China: Rush of foreign investors can do little to stave off a slowdown, says World Bank

<ul class="summary-list"><li>Stocks were mostly higher Tuesday morning after closing lower in Monday's session. </li><li>Oil prices slid, while investors shrugged off sluggishness in China stocks. </li></ul>Stock markets opened higher on Tuesday as oil prices dipped, helping investors recover slightly after Monday's losing session. International crude prices fell 3%, with Brent down to $78.50 a barrel. US oil prices were also down 3% to $74.77 a barrel. Traders also appeared to shrug off the sluggishness in Chinese stocks. Though the country's soaring equities have recently stolen the spotlight, the <a target="_blank" href="https://www.businessinsider.com/china-stock-markets-csi300-golden-week-reopening-bazooka-stimulus-outlook-2024-10">rally stumbled</a> on Tuesday after Beijing failed to announce fresh stimulus as many observers had been expecting. Instead, Wall Street is largely focused on earnings and upcoming inflation data, scheduled for release on Thursday. September's consumer price index has regained the spotlight as a factor that could determine whether the Federal Reserve can continue to cut interest rates this year after last month's jobs report was <a target="_blank" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10?utm_medium=ingest&amp;utm_source=markets&amp;_gl=1*qs0pxj*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODM5MTI5Mi43MDAuMS4xNzI4Mzk0MTk5LjUyLjAuMA..">much stronger than expected</a>.Economists project consumer inflation for September to come in at 2.3% year-over-year, down from 2.5% in August.However, any upside surprise could trigger stock volatility this week, as it could indicate the Fed may have to keep <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-volatility-cpi-inflation-september-jobs-report-bofa-2024-10?utm_medium=ingest&amp;utm_source=markets">interest rates higher for longer</a>, says Bank of America.Meanwhile, Tuesday marked the of the earnings season, kicking with PepsiCo. Shares in the beverage firm fell as the company cut its full-year guidance. Major US financial firms including JPMorgan, Wells Fargo, and BlackRock report on Friday. Here's where US indexes stood shortly after the 9:30 a.m. opening bell on Tuesday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,716.40, up 0.36% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,915.00, down 0.1% (-42.74 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 18,016.89, up 0.51% </li></ul>Here's what else is going on:<ul><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/china-stock-market-rally-outlook-bullish-drivers-stimulus-goldman-sachs-2024-10?_gl=1*j3t12y*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODM5MTI5Mi43MDAuMS4xNzI4MzkyNzQxLjQyLjAuMA..">Goldman Sachs is betting that the Chinese equity rally could run up another 20%</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/interest-rate-cuts-fed-outlook-recession-economy-stocks-ed-yardeni-2024-10">The Fed won't cut any more this year as the 'phantom recession' is finally dead</a>, Ed Yardeni says.</li><li><a target="_blank" href="https://markets.businessinsider.com/news/stocks/tesla-stock-trader-lost-306-million-according-to-lawsuit-rbc-2024-10?_gl=1*8qe2uw*_ga*MTMxNDIwNDI1Ni4xNjc1Njg3OTU4*_ga_E21CV80ZCZ*MTcyODM5MTI5Mi43MDAuMS4xNzI4MzkyODQyLjYuMC4w">A Tesla trader turned $65,000 into $306 million before losing it all, according to a lawsuit.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate</a> crude slid 3% to $74.77 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, the international benchmark, fell 3% to $78.50 a barrel</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> was essentially flat at $2,665.5 an ounce.</li><li>The 10-year Treasury yield rose by two basis points at 4.053%.</li><li><a target="_blank" class="" href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> fell 1.44% to $62,384.53.</li></ul>

Stock market today: Indexes edge up as oil prices ease and traders look to key inflation data

<ul class="summary-list"><li>US stocks fell Monday as bond yields and oil prices moved higher.</li><li>The rise in oil prices and solid September jobs report has revived inflation concerns.</li></ul>US stocks retreated from near-record highs on Monday, with all three major moving averages declining by about 1%.A number of risk factors pushed stocks lower on Monday, including a jump in interest rates and oil prices, the <a target="_blank" class="" href="https://www.businessinsider.com/hurricane-milton-category-five-threatens-florida-fema-funding-2024-10">growing intensity of Hurricane Milton</a>, and negative news flow for a couple of mega-cap technology stocks.The 10-year US Treasury yield jumped back above 4% on Monday, representing its highest level in about two months. Friday's release of the September jobs report sparked the move higher in yields.The stronger-than-expected nonfarm payroll report showed <a target="_blank" class="" href="https://www.businessinsider.com/september-jobs-report-unemployment-rate-nonfarm-payroll-growth-federal-reserve-2024-10">employers added 254,000 jobs</a> last month, crushing estimates of about 150,000. The unemployment rate also declined slightly to 4.1%.Meanwhile, oil prices continued to surge on Monday, rising by about 4% as tensions in the Middle East continued to simmer on the first anniversary of the Hamas-led attack against Israel.The rise in oil prices and the stronger jobs report are fanning fears of a potential rebound in inflation, which would mean fewer rate cuts from the Federal Reserve."After Friday's strong employment report, the consensus might pivot to 'no rush to ease further' during the fall. We can't rule out 'higher for longer' making a comeback this winter. We are in the none-and-done camp for the rest of this year," Yardeni Research said in a note on Monday.Finally, a Wells Fargo analyst downgrade of Amazon sent that stock lower by about 3%, while Alphabet shares dropped 2% after a judge ordered <a target="_blank" class="" href="https://www.reuters.com/legal/us-judge-orders-google-open-up-app-store-competition-2024-10-07/">the company to open its app store to more competition,</a> handing a victory to Epic Games.Investors will <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-q3-earnings-preview-investors-themes-ai-interest-rates-2024-10">turn their attention to earnings season, which kicks off this week</a> with results from PepsiCo on Tuesday, followed by the first of the major banks on Friday.Finally, the September CPI report is also due out this Thursday. Economists expect the CPI index to rise 2.3% year-over-year in September, down from 2.5% in August. Bank of America analysts note that an upside surprise in last month's inflation reading has the potential <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-volatility-cpi-inflation-september-jobs-report-bofa-2024-10">to send stocks on a roller coaster this week</a>. Here's where US indexes stood shortly at the 4:00 p.m. closing bell on Monday:<ul><li><a target="_blank" href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 5,695.94, down 0.96% </li><li><a target="_blank" href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 41,954.24, down 0.94% (-398.51 points)</li><li><a target="_blank" href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq composite</a>: 17,923.90, down 1.18% </li></ul>Here's what else is going on:<ul><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/nvidia-stock-price-nvda-smci-super-micro-100000-gpu-chips-2024-10">Nvidia stock jumped 4% on Monday after Super Micro Computer said it was shipping more than 100,000 GPUs per quarter.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-september-jobs-report-growth-value-david-kelly-2024-10">JPMorgan's chief strategist told Business Insider why he is feeling "increasingly queasy" about the market.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/tesla-stock-trader-lost-306-million-according-to-lawsuit-rbc-2024-10">A Tesla trader turned $65,000 into $306 million before losing it all, according to a lawsuit.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/texas-housing-market-home-prices-falling-austin-dallas-moving-trends-2024-10">Falling home prices and fed-up residents show the Texas housing boom is slowing down.</a></li><li><a target="_blank" class="" href="https://www.businessinsider.com/inflation-outlook-fed-interest-rate-cuts-jobs-report-us-economy-2024-10">Consumer prices are still in focus for investors despite the Fed's recent pivot to the labor market.</a></li><li><a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-goldman-sachs-boosts-sp500-price-target-again-2024-10">Goldman Sachs increased its year-end S&amp;P 500 price target for the third time this year to 6,000.</a></li></ul>In commodities, bonds, and crypto:<ul><li><a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">West Texas Intermediate</a> crude jumped 3.93% to $77.30 a barrel. <a target="_blank" href="https://markets.businessinsider.com/commodities/oil-price">Brent crude</a>, the international benchmark, was higher by 3.89% to $81.09 a barrel.</li><li><a target="_blank" href="https://markets.businessinsider.com/commodities/gold-price">Gold</a> was down 0.18% to $2,663.00 an ounce.</li><li>The 10-year Treasury yield was higher by 7 basis points at 4.032%.</li><li><a target="_blank" href="https://markets.businessinsider.com/currencies/btc-usd">Bitcoin</a> was higher by 0.82% to $63,335.</li></ul>

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