Fri, Feb 2, 2024 10:01 AM
Hot stocks: Double-digit gains likely in BSE, Container Corporation!
A Flip by Avya Verma
Wall Street's main indexes closed lower on Thursday after Federal Reserve Chair Jerome Powell dampened investors' hopes for another interest rate cut this year by saying the U.S. central bank need not rush to ease monetary policy. Powell said at a Dallas Fed event that with the economy still growing, the job market solid and inflation still above the 2% target.
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As Indian markets experienced corrections in October amid weak earnings, sustained foreign investor outflows and heightened geopolitical tensions in the Middle East; domestic mutual funds (MFs) took an aggressive stance, accumulating blue-chip stocks. Foreign institutional investors (FIIs) sold over Rs 94,000 cr in October, while MFs made net purchases exceeding Rs 92,000 crore in local equities.
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India has expanded its mandatory hallmarking of gold jewellery and artifacts to 18 additional districts, bringing the total to 361 districts, with over 40 crore items hallmarked since its launch in 2021, ensuring greater trust and transparency for consumers and increasing registered jewellers and assaying centers.
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