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The price of cement is hardening across the country and since August this year, the rates have gone up by ₹16/per bag, said <keyword id="152070" type="General" weightage="20" keywordseo="Emkay-Global-Financial-Services-Ltd" source="Orion">Emkay Global Financial Services Ltd</keyword>. According to a report by the company, in November the prices went up by about ₹6-7/bag. While the prices remained flat in Western and Central parts of the country, the rates hardened in Northern, Eastern and Southern regions, Emkay Global said. According to the report, the cement companies are attempting further price hikes of ₹10-15/bag across the country this month. "Absorption of the price hikes will get revealed over the next few days. With the financial-year change (from December to March) by ACC and Ambuja, volume push by these companies is likely to be limited in December. This is positive for the pricing trend in the near term," Emkay Global said. "We expect the industry's profitability to increase by move r than ₹200/ton QoQ (even higher for Eastern region players) in Q3FY23, with improving cement prices along with peakout of operating cost in Q2FY23," it added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/only-half-of-indian-listed-companies-set-net-carbon-emissions-commitments-wtw/articleshow/96032489.cms" style="">Only half of Indian listed companies set net carbon emissions commitments: WTW</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/indian-beauty-brand-rene-cosmetics-raises-25-million-in-series-b-funding-led-by-evolvence-india-edelweiss-group/articleshow/96031563.cms" style="">Indian beauty brand RENÉE Cosmetics raises $25 million in Series B funding led by Evolvence India, Edelweiss Group</a>

Cement makers plan to hike price by ₹10-15 per bag

<keyword id="6378916" type="General" weightage="100" keywordseo="cement" source="Orion">Cement</keyword> companies are planning to hike the price between Rs 10 and Rs 30 per bag in November after a increase of about Rs 3-4/bag last month, said <keyword id="141615" type="General" weightage="80" keywordseo="emkay-global" source="Orion">Emkay Global</keyword> Financial Services Ltd. Emkay Global in a recent sectoral report said the average pan-India cement price increase was about Rs.3-4/bag in October 2022. On a month-on-month (MoM) basis, prices rose by 2-3 per cent in the East and South, and about one per cent in the West; while declining 1-2 per cent in the northern and central regions, the report said. "Cement companies are attempting price hikes of Rs10-30/bag across regions in November 22. Absorption of these price hikes will be uncovered over the next few days," said Emkay Global. Industry volumes likely to have declined by a high single-digit YoY and a low double-digit MoM, in October 22, owing to a high base, as the festive season was spread across October-November last year. According to the report, a delayed exit of monsoons and labour shortage owing to festive holidays impacted demand in October 22. The demand is expected to improve in upcoming weeks, with all major festivals ending and given the onset of a busy construction season. The cost pressure is expected to ease in coming quarters for the industry players and the industry margins are expected to bottom out in Q2, with peaking of costs, higher exit of cement prices and pick-up in construction activities in coming quarters, said Emkay Global. The international petcoke prices are down by about 30 per cent from the peak of $195/tonne. Further the dip in the fuel prices are expected to provide cost savings of at least Rs 150-200/tonne from Q3FY23, Emkay Global said. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/myositis-the-condition-affecting-actress-samantha-prabhu-is-more-common-among-adult-women-say-doctors/articleshow/95304784.cms">Myositis – the condition affecting actress Samantha Prabhu – is more common among adult women, say doctors</a> <a href="https://www.businessinsider.in/india/news/delhi-pollution-air-quality-severe-for-3rd-straight-day-noida-records-529-aqi-gurugram-at-478/articleshow/95313876.cms">Delhi pollution: Air quality 'severe' for 3rd straight day; Noida records 529 AQI, Gurugram at 478</a> <a href="https://www.businessinsider.in/business/corporates/news/kv-kamath-appointed-independent-director-of-reliance-industries-jio-financial-services/articleshow/95313728.cms">KV Kamath appointed independent director of Reliance Industries, Jio Financial Services</a>

Cement companies plan price hike of ₹10-30 per bag

Chinese steel prices are surging back from lows but it has little to do with construction demand for the real thing. Builders might not be buying steel, but traders are, according to analysts at Jefferies. This explains why the steel price has sprung back 20% from its low in December and cement prices have remained in the doldrums.Here's the chart from Jefferies that shows steel prices bouncing back:<div class="KonaFilter image-container display-table"><div><div class="image on-image">Jefferies</div></div></div>Jefferies puts this down to the cut in China's reserve requirement ratio - a benchmark figure that decides how much money banks can lend - leading to steel traders taking on debt to make bets on the price of the metal.Here's Jefferies (emphasis ours): After the Chinese New Year, cement demand has been recovering very slowly with some cities continuing to report a price fall. Underlying demand for construction steel must have been weak as well. What is causing steel price hike? We think this is mainly due to speculative demand.Steel is a much more financialized product than cement. We think recent RRR which allow the steel traders to lever up again, and the low traders' inventory back in January have been the main causes of the hike.But what goes up must come down. As steel mills pump out more metal to take advantage of the rise in prices, so the additional supply will drive them down again:However, we note that steel traders' inventories had spiked quickly in February and have reached 12.6mn tons now as steel mills resumed production on profitability improvement. According to MySteel, utilization rate of steel mills in China increased by 3pts to about 82% last week. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/internet-reacts-kanye-west-53-million-dollar-debt-2016-2">This is how the Internet feels about Kanye West's $53 million debt</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="JvanQxMTE6lCWw-z17578LeOH24q-ssu" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

JEFFERIES: Traders, not builders, are boosting the steel price

<ul><li>Fall in shares of Reliance, Shree Cements, SBI and others led to sudden drop in Sensex, Nifty 50 in the second half.</li><li>The fall may have been sharper if not for automobile stocks that rallied today on report of improvement in chip shortage.</li><li>Check out the latest news and updates on <a href="https://www.businessinsider.in/">Business Insider</a>.</li></ul>The Indian market slid sharply in the second half of trade on Tuesday (November 16). Nifty 50 broke below the 18,000 mark and Reliance Industries (RIL) contributed to nearly 30% of the fall, as at 2:40 p.m. 37 of the 50 stocks were in decline at the time. If not for the rally in automobile stocks like Tata Motors and Maruti Suzuki, the fall may have been sharper. The sell-off was the worst in pharmaceuticals, banks ⁠— particularly the state-owned ones like State Bank of India (SBI) ⁠— and the energy index fell over a percent largely due to the sell off in RIL shares. Top losers : Nifty 50 <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Shree Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">SBI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">NTPC </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Reliance </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cipla </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1.6% </td></tr></tbody><tbody></tbody></table>As of 3:30 PM on November 16 “Some correction is expected as investors are selling PSU and some other stocks to make way for LIC, which is expected to be launched around February. This can be one of the triggers for the fall. Another 5% correction could happen in the next 15-20 days due to global weak sentiment,” said Abhishek Jain, chief market strategist at BP Equities. Cements stocks like Shree Cements fell after a report indicated that cement companies have dropped plans to hike prices for the month of November. “Cement prices have seen some correction especially in eastern market and in western market there was a hike after Diwali, which has been reversed right now,” added Jain. The top five gainers on the Nifty 50 were all auto stocks after Morgan Stanley said that the chip shortage, which had stalled production for car makers around the world, may be easing finally. A similar commentary from Uttar Pradesh-based electronic products manufacturer Dixon Technologies took the shares higher. <div type="image" title="dixon" height="900" width="1200" msid="87736216" hostid="261"></div> Some of the most traded stocks on the National Stock Exchange ⁠— the largest by volume ⁠— were auto parts makers Mahindra CIE and Suprajit Engineering, and cloud solutions company Tanla Platforms. All three stocks saw nearly ten times the volume of shares traded on an average in the last five days, and all three of them gained over 5% today. Aegis Health and P&amp;G Health hit a 52-week low today. Investors continued to dump shares of IndusInd Bank and Hindalco and both shares are now among the biggest losers on the Nifty 100 index in the last one month. Indian Railway Catering and Tourism Corporation (IRCTC), the billion dollar company that has a near monopoly in railway ticket bookings and catering, jumped 1.8% today. Still, it’s shareholders have lost over 21% of the value in the last one month. Top losers on Nifty 100 in the last one month <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-15.45% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jindal Steel and Power </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13.4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hindalco </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Coal India </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-13.2% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PI Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.66% </td></tr></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/former-myntra-ceo-started-mensa-brand-in-may-and-its-already-worth-a-billion-dollars-with/articleshow/87735832.cms">Former Myntra CEO started Mensa Brand in May ⁠and it’s already worth a billion dollars with</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/analysts-say-subscribe-to-tarsons-ipo-a-supplier-for-dr-lal-path-labs-and-dr-reddys-from-bengal/articleshow/87730889.cms">The IPO from Tarsons, a Bengal-based supplier for Dr Lal Path Labs and Dr Reddy’s, gets a unanimous ‘subscribe’ call from the street</a>

Reliance Industries makes for nearly a third of Nifty’s fall today ⁠— Tata Motors and Maruti beat the trend

<ul class="summary-list"><li>The British pound jumped Wednesday after new data showed a flare-up in UK inflation last month.</li><li>The Consumer Price Index rose 10.4% in February, way clear of the figure expected by economists.</li></ul>The <a href="https://markets.businessinsider.com/currencies/gbp-usd">British pound</a> rallied against the dollar Wednesday after fresh data showed that the UK logged a surprise flare-up in inflation last month.The currency jumped around 0.6% to $1.2285 in morning trading in London after a report showed consumer prices rose 10.4% in February from a year earlier, accelerating from a 10.1% gain in January and coming in well above the 9.9% figure expected by economists in a Refinitiv poll.The rebound in inflation comes a day ahead of the Bank of England announcing its latest interest-rate decision.Before the data release, some traders had expected the central bank to pause its tightening campaign in a bid to soothe financial markets.But they're now convinced that the BoE will bring in another 25-basis-point hike following the reacceleration in consumer-price increases."There had been a 50/50 feeling about would they hike or would they not and that print today has cemented the fact that they do need to hike tomorrow," City Index analyst Fiona Cincotta said.When interest rates rise, currencies tend to rally because they become more attractive to foreign investors who are seeking higher yields.The <a href="https://markets.businessinsider.com/index/us-dollar-index">US Dollar Index</a> – which tracks the greenback against a basket of six other currencies, including the pound – slipped 0.2% Wednesday on the UK's latest inflation news.Read more: <a href="https://markets.businessinsider.com/news/currencies/inflation-100-percent-argentina-food-prices-beef-hyperinflation-economic-crisis-2023-3?_gl=1*1ya2xp6*_ga*MTgxNTI4ODA2Ni4xNjM0MDMzNTYz*_ga_E21CV80ZCZ*MTY3OTQ3NTQ2NC4zNzguMS4xNjc5NDgwNzc3LjI1LjAuMA">Inflation tops 100% in Argentina as the price of beef spikes</a>

Pound jumps as traders lock in an interest-rate hike after UK inflation's surprise rebound

<ul class="summary-list"><li><keyword id="243137" type="PERSON" weightage="60" keywordseo="David-Einhorn">David Einhorn</keyword> is betting on <keyword id="22195" type="COMPANY" weightage="60" keywordseo="Inflation">inflation</keyword> to remain elevated for years to come.</li><li>The <keyword id="243142" type="COMPANY" weightage="60" keywordseo="Greenlight-Capital">Greenlight Capital</keyword> boss anticipates higher prices for copper, paper, cement, and air cargo.</li><li>Not all suppliers can immediately ramp up production to meet demand, Einhorn said.</li></ul>Billionaire investor David Einhorn predicted inflation is here to stay, and explained why rising prices will benefit his stock portfolio, in his second-quarter letter to investors this week."There are too many dollars chasing too few goods and services," the Greenlight Capital founder and president said in the letter, <a href="https://valuewalkpremium.com/greenlight-capital-q2-einhorn-thinks-inflation-is-here-to-stay/?ck_subscriber_id=799483399&amp;utm_source=convertkit&amp;utm_medium=email&amp;utm_campaign=Greenlight+Capital+Full+Q2+2021+Letter%3A++Einhorn+Thinks+Inflation+Is+Here+To+Stay%20-%2062963010-%206296301">published by ValueWalk</a>. "We have reached a structural change in inflation."Einhorn drew a distinction between temporary bottlenecks that have <a href="https://www.businessinsider.com/why-supply-shortages-economy-inventory-chips-lumber-cars-toilet-paper-2021-5">spiked the prices</a> of <keyword id="1592301" type="PERSON" weightage="60" keywordseo="lumber">lumber</keyword> and other goods during the pandemic, and lasting shortages fueled by broader trends such as the electric-vehicle boom and years of insufficient house-building.The hedge-fund manager added that it's impossible to rapidly boost the supply of some products, so their prices will have to rise to dampen demand.Einhorn noted that investors have plowed their cash into high-flying technology companies, starving traditional businesses such as mills and miners of capital. As a result, the latter group have underinvested in their facilities for years, and now lack the money to ramp up production as the economy reopens. They will have to hike their prices to generate bigger profits and attract investors, Einhorn said.The Greenlight chief also argued that if bosses raise wages to lure back employees, and the <keyword id="6355253" type="UNKNOWN" weightage="60" keywordseo="federal-reserve">Federal Reserve</keyword> continues "tinkering" with its expansionary policies instead of aggressively addressing inflation, that would be a recipe for higher prices.Einhorn clearly expects the current surge in inflation to persist, but he assured his investors that Greenlight's stock portfolio will benefit if he's right. He pointed to Green Brick Partners, a homebuilder and his fund's largest investment, which is likely to benefit from rising house prices. His other holdings function as bets on higher prices for air cargo, copper, cement, paper, thermal coal, and natural gas, he added.

Billionaire investor David Einhorn says inflation isn't going away - and expects rising prices to boost his stock portfolio

<ul class="summary-list"><li>The drop in inflation is strengthening the case the US will avoid a recession, economist Paul McCulley said.</li><li>The former chief economist of PIMCO pointed to June CPI, which showed inflation eased to 3%. </li></ul>The June inflation report is making the case that the US economy can avoid a recession after all, according to PIMCO's former chief economist Paul McCulley.McCulley pointed to the <a href="https://www.businessinsider.com/how-is-inflation-looking-consumer-price-index-june-data-2023-7">Consumer Price Index report</a> on Wednesday, which showed prices slowing to just a 3% year-over-year increase last month. That's the lowest inflation reading in over two years, and it's well-below where prices were in July 2022, when headline inflation clocked in at 8.5%.The drop in inflation is strengthening the case that the US can avoid a recession after all, despite markets eyeing an imminent downturn for most of the past year."This is the stuff of a soft landing. This is what the Fed has been looking for. This is what the market wants to see," McCulley said in an interview with <a href="https://www.youtube.com/watch?v=zFuKcEXLlS8&amp;ab_channel=CNBCTelevision">CNBC</a> on Wednesday. The Fed is still likely to raise interest rates at its next policy meeting, with <a href="https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html?redirect=/trading/interest-rates/countdown-to-fomc.html">markets pricing in a 95% chance officials</a> will hike rates another 25 basis-points at the end of this month. Experts have warned high rates in the economy could push the US into a downturn, especially considering that the full impact of rate hikes takes months to be felt throughout the economy. But central bankers will need to hike rates to cement their credibility on inflation, McCulley said, and another rate hike is unlikely to be the factor that pushes the US into a recession. That's because the lagged effect of monetary tightening could be easily be combated with rapid rate cuts if economic growth appears to be stagnating.He predicted central bankers would begin to trim interest rates once they saw a cooler labor market and more disinflation in the economy."I think the Fed's got a lot of room to make it happen. They don't have to stay high as long as they think if it turns out that the lags are nastier than we think," McCulley said.Other commentators have turned more positive on the economy and markets as inflation continues to cool without sparking significant weakness in the labor market. Some say the <a href="https://markets.businessinsider.com/news/stocks/fundstrat-tom-lee-us-economy-expansion-recession-faang-bull-stock-2023-6">economy is showing signs of entering an expansion</a>, which could help <a href="https://markets.businessinsider.com/news/stocks/june-cpi-report-stock-market-inflation-moves-lower-fundstrat-fed-2023-7#:~:text=The%20June%20CPI%20report%20revealed,%2C%22%20Fundstrat's%20Tom%20Lee%20said.">stocks continue their rally</a>.

The drop in inflation in June paves the way for the US economy to avoid a recession, former PIMCO chief economist says

<ul class="summary-list"><li>US stocks finished higher Wednesday a day after the market's worst session in two years. </li><li>Producer price data Wednesday showed cooling wholesale inflation, but markets are still digesting Tuesday's CPI report. </li></ul>US stocks closed with modest gains Wednesday, slightly rebounding from the market's worst session in two years amid volatile trade.Indexes opened higher, then turned negative before swinging back to positive territory in the final minutes of the session. Early Wednesday, the producer price index fell 0.1% in August from the prior month, matching expectations. But markets were still digesting Tuesday's consumer price index report, which showed a surprise monthly increase that cemented views for another big rate hike at next week's Federal Reserve meeting.While investors are still mostly betting on a third consecutive increase of 75 basis points, the odds of a 100-basis-point hike have climbed since Tuesday.Here's where US indexes stood as the market closed at 4:30 p.m. on Wednesday: <ul><li><a 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&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 3,946.01, up 0.34%</li></ul><ul><li><a 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&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 31,135.09, up 0.10% (30.12 points)</li></ul><ul><li><a 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&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 11,719.68, up 0.74%</li></ul><a href="https://markets.businessinsider.com/news/stocks/inflation-market-recession-prediction-fed-rate-hike-hard-landing-nomura-2022-9">Nomura strategist Charlie McElligott</a> says the market is starting to acknowledge that a hard landing is likely, as the latest consumer price index report Tuesday showed that inflation remains a persistent issue that the Fed will need to stay aggressive on. <a href="https://markets.businessinsider.com/news/stocks/mark-mobius-interest-rates-could-hit-9-percent-borrowing-fed-2022-9">And acclaimed investor Mark Mobius</a> thinks the Federal Reserve could hike interest rates as much as 9% if consumer inflation remains around 8%. Elsewhere, <a href="https://markets.businessinsider.com/news/commodities/europe-energy-crisis-windfall-taxes-gas-electricity-eu-markets-2022-9">the European Union</a> is seeking $140 billion worth of windfall taxes from low-cost energy companies to shield consumers from the continent's surging energy prices. Oil climbed, with <a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">West</a><a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets"> Texas Intermediate</a> gaining 0.74% to $87.94 per barrel. International benchmark <a href="https://markets.businessinsider.com/commodities/oil-price?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a> gained 0.71% to $93.82. <a href="https://markets.businessinsider.com/commodities/gold-price?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&amp;utm_medium=ingest&amp;utm_source=markets">Gold</a> fell 0.42% to $1,694.43 an ounce. The <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">10-year yield</a> fell 1.7 basis points to 3.406%. <a href="https://markets.businessinsider.com/currencies/btc-usd?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets">Bitcoin</a> gained o.o3% to $19,848.02.

US stocks close higher after worst rout in 2 years as investors assess impact of August inflation on Fed's next move

<ul class="summary-list"><li>Investors pushed up expectations that the Federal Reserve at its December meeting will deliver another rate hike of 75 basis points. </li><li>The odds for another three-quarter point increase jumped to 61.8% from 32.5% a day ago. </li></ul>US core inflation in September rose by more than economists had anticipated, spurring investors on Thursday to bump up their expectations that the Federal Reserve at its December meeting will deliver yet another big rate hike. The <a href="https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html">CME FedWatch tool</a> showed a 61.8% probability of a rate increase of 75 basis points at the central bank's December 13-14 meeting, up from 32.5% a day earlier. At the same time, the odds of a rate increase of 50 basis points fell to 36.9% from 58% a day prior. The probability of a 100-basis-point rate hike edged up to 1.4% from 0% over the past month. The inflation report also cemented expectations for the Fed to raise its benchmark rate by 75 basis points at its November 1-2 meeting. If predictions for the next two Fed meetings hold, they would extend the streak of jumbo-sized increases. The Fed last month delivered its fifth rate hike of 2022 and a third straight rate increase of 75 basis points. The moves came after the Bureau of Labor Statistics said the core Consumer Price Index — which measures inflation excluding volatile food and energy prices — <a href="https://www.businessinsider.com/inflation-report-cpi-september-prices-rent-fed-rates-recession-outlook-2022-10">rose 6.6% in the year through September</a>, the fastest price growth since 1982.The reading outstripped expectations of 6.5% among economists polled by Bloomberg. Shelter prices fronted the gain by rising 0.7% through the month. The headline inflation rate dipped to an annual pace of 8.2% from 8.3% in August as gas and food prices have been easing. But the acceleration in core inflation pointed to a worrying trend."This is the Fed's nightmare scenario: the risk that inflation stays entrenched because services inflation is far harder to bring down than energy inflation," wrote Jan Szilagyi, CEO of investment research firm Toggle AI. "The Fed will see this as a license to stay aggressive while the labor markets remain strong and the public tolerates rate hikes. More than that, they will maintain a hawkish message to avoid perception that they are tip-toeing around the issue." US stocks initially dropped after the inflation report but finished higher in a turnaround rally. The <a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">S&amp;P 500</a> climbed 2.6% and the <a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">Nasdaq Composite</a> gained 2.3%. Meanwhile, the <a href="https://markets.businessinsider.com/index/us-dollar-index">US Dollar Index</a> turned lower, down by 0.7%. "The CPI report was a stark reminder that the Fed has a lot of work to do still. For every category that seemed to improve, two worsened," said Yung-Yu Ma, chief investment strategist at BMO Wealth Management, in a note. "The coming earnings season would have to be doubly strong to offset the strong headwinds of will be an ever-aggressive Fed."

Investors think the odds of a 75-basis-point rate hike at the December Fed meeting have nearly doubled after the September inflation report

<ul><li>Indian benchmark indices slipped sharply in the last few trading hours on Tuesday mirroring weak cues from the global markets.</li><li>Investors are worried that the <keyword id="117388" type="General" weightage="20" keywordseo="us-fed" source="Orion">US Fed</keyword> may hike interest rates aggressively while pulling back economic stimulus measures.</li><li>As a result, the 10-year US Treasury yield jumped to its highest point in two years at 1.83%.</li></ul>Indian markets witnessed a sharp sell-off today (January 18) mirroring the fall in Asian markets on expectations that the US Fed may hike interest rates aggressively while pulling back economic stimulus measures. Last week, US Fed Chairman Jerome Powell told the US senate that he expected to see a series of interest rate hikes this year, along with a pull back in other pandemic economic support measures. This means that the US Fed will reduce its holdings of treasury bonds, which triggered the 10-year US Treasury yield that jumped to its highest point in two years at 1.83%. <a href="https://www.cnbc.com/2022/01/10/goldman-predicts-the-fed-while-hike-rates-four-times-this-year-more-than-previously-expected.html">Reports </a>say that the US Fed may hike interest rates four times this year, more than previous forecast of three times. The estimate comes amid rising inflation and a tightening job market in the US. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Global markets </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change as of January 18 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TSEC 50 Index (Taiwan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.79% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sensex (India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hang Seng (Hong Kong) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.43% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Nikkei 225 (Japan) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.27% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ASX All Ordinaries (Australia) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-0.05% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Amid the volatility in the Indian markets, shares of automobile companies, IT companies, metal, FMCG, pharma companies were under pressure. Surge in crude oil prices along with sell off by foreign institutional investors (FIIs) added to the volatility. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Companies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">% change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Maruti Suzuki </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-4% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consumer Products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.94% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Ultratech Cements </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.81% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Eicher Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.67% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Grasim Industries </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.62% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.48% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL Technologies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.07% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">JSW Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">UPL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.76% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.68% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Steel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.67% </td></tr></tbody><tbody></tbody><tbody></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/automakers-are-rising-car-prices-amid-weak-sales-and-rising-input-costs/articleshow/88971438.cms">After Maruti, now Tata Motors raises car prices marginally</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/smartphone-under-30000-rs-segment-has-nearly-doubled-in-the-last-one-year-as-per-xiaomi-cbo/articleshow/88969336.cms">INTERVIEW: The sub-₹30,000 smartphone segment has nearly doubled in the last one year, says Xiaomi India’s chief business officer</a>

You Searched For "cement prices hike" and got 10 results

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