The Bureau of Civil Aviation Security instructed airlines to make sure that passengers receive all their baggage within 30 minutes of their flight landing at the airport. The announcement from the regulator comes against recent delays faced by passengers in receiving their baggage at airports. The body issued the mandate to seven scheduled airlines, namely Air India, IndiGo, Akasa Air, SpiceJet, Vistara, AIX Connect, and Air India Express, reported PTI.
The overall market valuation of 6 out of the top-10 most valued firms degraded by Rs 71,414 crore last week. Out of the top-10 firms, LIC emerged as the biggest laggard, while SBI, Infosys, HDFC Bank, ICICI Bank were among the gainers.
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The stock market last week managed to recover the losses from the earlier week and jumped over 1 per cent to inch closer to the record high, amidst uncertainty regarding the beginning of the rate cut cycle. The key equity benchmarks, Sensex and Nifty, ended higher in the week. The BSE Sensex climbed 1.16 per cent to 72,427, and the NSE Nifty50 gained 1.19 per cent to 22,041.
The positive trajectory in the market is anticipated to continue in the week, with investors keenly observing the major takeaways from the Fed and RBI’s meeting minutes, along with macroeconomic indicators scheduled to be released ahead.
Commenting on the market movements, Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services, said, “We expect market sentiment to strengthen further as the prospect of a pre-election rally is quite strong. Two important pre-poll surveys by India Today and Times Now predict a more than a comfortable majority (272+ seats) for the incumbent BJP-led NDA.”
On the global front, the Federal Open Market Committee (FOMC) January policy meeting’s minutes are scheduled to be released on Thursday and are estimated to provide experts an insight into the interest rate trajectory going forward.
Amongst other economic data, several Fed officials are scheduled to deliver speeches in the week, such as Bostic, Jefferson, Harker, Cook, and Waller, among others, reported Moneycontrol. These addresses will provide insight into the US regulator’s next decision on interest rate cuts.
Europe’s January inflation numbers, in addition to manufacturing and services PMI flash data are scheduled towards the end of the week. The US will see jobless claims, and existing home sales, along with prominent PMI numbers released on Thursday.
Domestically, the Reserve Bank of India will also release its monetary policy meeting minutes in the latter half of the week. The details are anticipated to provide clues about policy changes to investors and experts. Further, the HSBC PMI Flash numbers for the manufacturing and services sector are set to be released on Thursday, while the foreign exchange reserve data for the week will also be updated soon.
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