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India's emerging markets weightage tops 2007 bull run
The relative outperformance of Indian share markets has helped the country improve its weightage in the MSCI emerging markets (EM) index. According to data compiled from the MSCI website, India now has 8.72 per cent of the MSCI EM index, 50 basis points (bps) higher than the country's weight during the 2007 bull market. Even on a year-on-year basis, the weight has gone up by 47 bps. This will help attract more of foreign flows, since at least $1.5 trillion of funds are estimated to track this index.

OMCs will underperform markets going forward
Oil marketing companies (OMCs) have relished a joyride in the form of an assured market and healthy returns for long. They have struck oil, to borrow a fitting phrase, particularly in the past three years, thanks to a host of condusive factors, including low-slung crude oil prices, steady refining margins and healthier corporate balance sheets.

What's behind record Asian stock rally?
Asian stocks headed for a record close for the second time this month as the regional benchmark gauge surpassed its 2007 peak, led by energy and industrial stocks after U.S. equities continued their bounce from a two-week slide.

Bull market's big supporters ask what may tip it to the bears
Some of the biggest proponents of the bull market in equities are starting to ask the question: when should you get out? While the answer from some of the world’s largest money managers is that it’s not quite time yet, they’re identifying some triggers to watch for.

Most FIIs waiting for a correction to buy
Foreign investors are waiting for a correction to buy into Indian equities given the structurally sound story of the country’s economy, said Pratik Gupta , head of Deutsche Equities India . In an interview with Sanam Mirchandani, Gupta said a win of the Bharatiya Janata Party in the Gujarat state elections will have a marginal positive impact on the markets.

Why Gujarat poll matters more to markets than earnings, bond yield
As Gujarat election looms, Moody's sovereign rating upgrade is seen as a shot in arm for the ruling BJP, as it demonstrates that the reforms its government has ushered in over the past three years are beginning to bear fruit. In a recent survey by Pew, nearly 83 per cent of the respondents voiced satisfaction with the current state of the economy, while 88 per cent held a favourable view of Prime Minister Narendra Modi.

Bond market euphoria over rating upgrade likely to fizzle out
Bond market euphoria over an unexpected India sovereign rating upgrade is expected to fizzle out next week, as concern over rising inflation, hawkish central bank rhetoric and fiscal discipline resurfaces.

FY18 earnings estimates may need to be cut further, say brokerages
Indian stocks have set record after record this year even as earnings growth remained lacklustre, prompting some analysts to warn that consensus earnings estimates of Indian companies are still too optimistic about growth prospects and may need to be slashed further. Sensex and Nifty’s fiscal year 2018 consensus earnings per share (EPS) estimates have already been pared by 11.1% and 9.45%, respectively since the start of the fiscal year and are now at Rs1,528.89 and Rs494.46, according to data compiled by Bloomberg.

Goldman Sachs sees four 2018 Fed rate hikes as US growth gains
The US economy is heading into 2018 with strong momentum that’s likely to boost wages and inflation more broadly, requiring the Federal Reserve to raise interest rates four times next year, Goldman Sachs Group economists said in a research note.

India Inc faces commodity rally challenge to manage costs
The rally in commodity prices is about to complete two years and there are indications that prices will either consolidate or reach higher levels. However, the rising commodity prices have posed a challenge for companies, especially consumer firms, which have to manage raw material costs. In the past two years, prices of most commodities are up between 30 and 100 per cent, and many companies are now working on active price management and hedging raw materials to protect both costs and margins.

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