Indian equity benchmarks set for muted open ahead of Fed policy decision
The Gift Nifty futures were trading at 24,825 points as of 7:50 a.m. IST, indicating that the Nifty 50 will open near Tuesday's close of 24,821.1.
While the Fed is expected to keep rates unchanged later in the day as it sifts through mixed economic data, comments from Chair Jerome Powell will be closely watched for economic and inflation outlook.
Higher U.S. interest rates make emerging market equities like India less attractive for foreign investors, who have been on a selling spree in India this month.
Foreign investors sold shares worth 46.37 billion rupees ($532.49 million) on Tuesday, as per provisional data. They have sold Indian shares worth $1.61 billion so far this month.
Uncertainty over India's interim trade deal with the U.S. ahead of President Donald Trump's August 1 deadline has been weighing on investor sentiment.
India is preparing to face higher U.S. tariffs — likely between 20% and 25% — on some of its exports as a temporary measure, as it holds off on fresh trade concessions ahead of Washington's August 1 deadline, two Indian government sources said.
Among stocks, Larsen & Toubro will be in focus after it beat quarterly profit estimates on Tuesday, boosted by rising overseas contracts.
STOCKS TO WATCH
** Power generator NTPC posts higher profit, but its revenue falls in the first quarter. State-owned company says it has identified potential sites for nuclear power projects
** Star Health and Allied Insurance posts lower profit along with a drop in its operating income for the first quarter
($1 = 87.0810 Indian rupees)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
22 minutes ago
- Yahoo
Trump's ‘Buy 3, Not 30' Comment Is Actually Smart Budgeting Advice — Here's Why
In May of this year, as President Donald Trump was rolling out his controversial tariff policies against America's trade partners, he received a great deal of criticism from economists and consumers alike over fears his tariffs would drastically increase prices of goods (especially those imported from China). Critics of Trump's trade policy even noted that children's toys and dolls would increase in price. The president's response was, to put it fairly, typically blunt. Check Out: For You: 'I don't think that a beautiful baby girl needs — that's 11 years old — needs to have 30 dolls,' Trump declared on the May 4 episode of NBC's Meet the Press, noting that if dolls become more expensive, simply buy less dolls. 'I think they can have three dolls or four dolls because what we were doing with China was just unbelievable. We had a trade deficit of hundreds of billions of dollars with China…I'm just saying they don't need to have 30 dolls. They can have three. They don't need to have 250 pencils. They can have five.' While there is an irony to a billionaire — one famous for his lavish wealth and a penchant for 24-carat gold decor — suggesting working-class Americans should refrain from buying multiple toys for their children, and should instead purchase such things in moderation, there is a sound objective truth to Trump's statement. Americans Spend Nearly $6,000 on Children's Toys Over a Lifetime Per The Guardian, the average American family spends $600 yearly on toys; that's approximately $6,000 over the course of a decade of childhood. That's $6,000 not being spent on medical care, college savings or family bills. That's a staggering amount of money for toys, and likely far too many for a child to focus upon and totally enjoy. That isn't a political stance, either — whether one loves or hates President Trump, the assertion that a child can enjoy three dolls rather than 30 is not only likely true, it's sound financial advice. I Asked ChatGPT To Explain TRUMP Crypto to Me Like I'm 12: As self-made millionaire and CEO of Crush Your Money Goals Bernadette Joy wrote for CNBC, when she was previously $300,000 in debt, her problem was not that she didn't make enough money — it was that she overspent on things that were not needed. She specifically called out children's toys as one of the six things she spent far too much on. 'I've seen parents spend hundreds, sometimes thousands, on toys that their kids lose interest in within weeks,' she noted. 'Less is more. Rotate toys instead of buying new ones, and prioritize experiences over stuff.' While, yes, Trump is a deeply divisive figure, and his advice for moderation with regards to spending should be taken with a grain of salt, his advice in this case actually does align with the recommendations of money experts such as Joy. Further, at a time when inflation is high, and America's economic stability is uncertain, spending in moderation is always good advice. More From GOBankingRates Mark Cuban Says Trump's Executive Order To Lower Medication Costs Has a 'Real Shot' -- Here's Why This article originally appeared on Trump's 'Buy 3, Not 30' Comment Is Actually Smart Budgeting Advice — Here's Why
Bloomberg
24 minutes ago
- Bloomberg
Why Mortgage Lenders Aren't Embracing This DEI Rollback From Trump
At one midsized US mortgage lender, almost a quarter of customers who dispute property appraisals find that the value of their home had been miscalculated. It's an industrywide issue that has historically penalized minority groups, and now President Donald Trump has offered lenders the chance to ignore his predecessor's attempts to make it easier for homeowners to question the valuations assigned by property appraisers. Trump has scrapped some of the guidelines, part of his team's vow to stamp out what it sees as initiatives that support diversity, equity and inclusion.
Forbes
24 minutes ago
- Forbes
The Federal Reserve Isn't What Pundits Want It To Be, And Never Was
The Fed's mandates are rooted in endless fallacy, most prominently the discredited Phillips Curve which says economic growth causes prices to rise. Please keep this in mind as monetary policy grandees pen high-toned pieces musing about what the next Fed Chairman should think about, and do. All it takes to see the foolishness of everything central-bank related is to contemplate the Fed's 'price stability' mandate. While thinking about it, perhaps Google 'I, Pencil' to see the myriad global inputs that go into the making of something so prosaic. Having done that, stop and think about other market goods like Boeing planes, GM cars, and Apple iPhones. Considering planes alone, the recently mothballed 747 was a consequence of six million different parts manufactured around the world. Rest assured that GM cars aren't much different, after which iPhones can claim inputs from six different continents. Think seriously about all this as economists spend endless time musing about who should take over for Jerome Powell. Oh, the conceit! They desire a focus on 'price stability,' and they think deeply about whether 'the Fed should modify its 2% inflation interpretation' (John Cochrane) without acknowledging what's true: price stability is not only undesirable, it's a mandate that the Fed could never fulfill in the first place. Starting with the undesirable part, it is prices that organize the market economy. That they bounce all around is a feature of the organization as price movements tell producers what to produce more or less of. The movements up and down are evidence of neither inflation nor deflation when it's remembered that a rising price signals fewer dollars for other purchases, and a falling price signals more. Price movements by their very name balance each other. As for the Fed's role in prices, whether stable or unstable, the mere discussion isn't serious. Exactly because market goods are an effect of remarkably sophisticated global cooperation among billions of hands and machines, the idea that Jerome Powell, his lieutenants, and hundreds of egghead economists under them could engineer 'price' anything is too silly for words. To which some will say that the Fed isn't fiddling with prices when it attempts to meddle in the workings of the economy, rather the Fed is trying to manage credit flows through interest rates lest the U.S. economy become too strong and 'overheat,' thus leading to rising prices. Yes, the discredited Phillips Curve. Back to reality, economies aren't machines, rather they're individuals. And individuals don't overheat as much as their innovations attract copious amounts of capital without regard to what the Fed does. Matched with the capital, the innovators find all manner of ways to produce more for less, on the way to falling prices. Yes, the surest sign of economic growth is falling prices. Which is just a comment that 'price stability' is just a variation of Phillips Curve orthodoxy. And it's bogus. As for 'price stability' from the Fed having to do with dollar price stability, that's not part of the Fed's policy portfolio and it never has been. Cochrane observes that 'The Financial and monetary system have evolved past the current Fed,' which is true, but it's 112 years true, not a 2025 thing. Cochrane thinks 'a wise Fed chair will need answers' to his many questions, but the happier truth is that the Fed isn't what Cochrane wants it to be, and thankfully never was. Evidence? The booming U.S. economy.
