ET Analysis: Leave the food inflation target index well alone
Governor Shaktikanta Das stressed not to modify the existing inflation targeting framework, which aims for a 4% inflation rate. He pointed out food inflation’s significant role in the consumption basket and cautioned that ignoring it may risk the hard-won stability in price levels. The existing framework ensures the credibility of economic stability.
Trent and BEL likely to enter Nifty; LTIM and Divi’s Labs may exit
In September, Trent and Bharat Electronics (BEL) were expected to be added to the Nifty index, replacing LTIMindtree and Divi’s Labs, said Nuvama Alternative & Quantitative Research. This reshuffling could bring in substantial capital. An official announcement was anticipated in August, and Zomato and Jio Financial might also be included if approved by Sebi.
Ola Electric could make muted debut, predict analysts
Ola Electric Mobility’s market debut was subdued, with its grey market price indicating a lower opening than its IPO range. The significant IPO was subscribed 4.27 times, yet analysts pointed to limited HNI interest. Experts recommend selling the stock upon listing due to uncertainty over the company’s near-term prospects.
Stocks in news: Grasim, Info Edge, LIC, Eicher Motors, SAIL
Thursday’s market closed in red due to the RBI’s cautious policy. Key events included LIC’s 9% profit rise, Eicher Motors’ 20% increase, and Cochin Shipyard’s 76.6% growth. Additionally, Trent, Grasim, and Info Edge announced their Q1 results, among other notable financial updates from various firms.
Asian stocks rebound as jobs data calms market jitters: Markets wrap
Asian equities saw gains on Friday as resilient US labor market data lifted investor confidence. Markets in Japan, South Korea, and Australia were bolstered, and US stocks had a significant rally. Jobless claims in the US were lower than anticipated, easing recession fears and encouraging investment in riskier assets, including cryptocurrencies.