Equity exuberance is obscuring currency weakness and rising external risks, as policy complacency risks amplifying shocks in an already fragile global setting.
R. Gurumurthy
iStock.com
Here’s your quick read to start the day: a chatty, no-fuss look at overnight moves, the big story, what’s on the docket, and the tickers you need to watch.
Richard Fargose
An end-of-day recap of all that transpired in the Indian markets, highlighting the major price movements and the factors driving them
Dehuti Jani
Kremlin
Istock.com
White House
Xi invoked Thucydides in Beijing. India, meanwhile, is discovering that the real trap isn’t geopolitical. It’s structural, and it’s already sprung.
Phynix
The import-duty increase from 6% to 15% is being sold as a balance-of-payments measure. It is also a transfer instrument, from jewellers to gold-loan lenders.
Dev Chandrasekhar
istock.com
Elevated crude prices and delayed fuel price revisions may push OMCs into aggressive bond and CP borrowings, tightening liquidity conditions.
Venkatakrishnan Srinivasan
White House/Via WikiCommons
Michael Patra is an economist and former RBI Deputy Governor.
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Abheek is an Independent Economist and the Former Chief Economist at HDFC Bank.
Ajay Srivastava is the founder of the Global Trade Research Initiative.
Vijay Singh Chauhan, a former IRS official, is a Senior Visiting Fellow at ICPP, Ashoka University
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Gurumurthy is an ex-central banker who handled markets, and later, financial stability for RBI.
Arvind Mayaram, former Finance Secretary, is Chairman of the Institute of Development Studies, Jaipur.