Tue, Jan 9, 2024 12:53 PM
Mid-day Mood | Upbeat global cues drive Nifty above 21,700
A Flip by Shubhangi Gupta
Over the last few years, a global destocking crisis has been weighing hard on the chemical sector, especially specialty chemicals, a segment that had most analysts and experts bearish. But that seems to be changing even as recovery is not expected in the near term and hints of recovery in the second half of CY2025 are making some analysts optimistic.
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Federal Reserve Governor Christopher Waller said he needs to see “several more” months of good inflation figures to begin interest-rate cuts, though recent data suggest progress has likely resumed. Waller said April consumer price figures, which showed a key gauge of underlying inflation slowed for the first time in six months, were a sign price pressures are not accelerating.
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Shares in India’s Paytm are among the worst performing globally ahead of an earnings report that’s expected to show widening losses at the troubled payments platform. The stock is down about 61% over the past six months, the second-worst drop over that period in Bloomberg’s World Index, which tracks large and mid-cap firms globally.
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