Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
Markets edged higher with India’s benchmark indexes hitting fresh lifetime highs, although the marginal underperformance of mid-cap and small-cap indexes continued. Lingering trade war worries kept the mood cautious globally while SBI’s June-quarter results dampened sentiments. For the week, the Nifty ended up 0.6 percent to settle at 11,429.
Markets extended gains for the fifth consecutive week even as tepid global cues played spoilsport. In its policy review, the Reserve Bank of India raised repo rates by 25 bps as the fallout of rising inflationary pressure in the near future prompted the central bank to front-load its action.
Markets gained on optimism over GST rate cuts and the simplification of filing returns after the latest GST council meet. Investor sentiments were boosted after the Narendra Modi government defeated the no-trust motion in parliament.
Markets moved in a narrow band in a week dominated by news of the no-confidence motion against the Modi government. Investors opted for a cautious approach after the Lok Sabha speaker accepted a no-confidence motion by the Telugu Desam Party against the ruling NDA coalition, although the risk of toppling the government was low.
Indian markets logged their best weekly gains in nearly six months as earnings season began on a strong note. The Sensex hit an all-time peak. Investors shrugged off trade tensions after China did not retaliate immediately to the latest U.S. tariff on Chinese goods. A weakness in crude oil prices rejuvenated buying interest in equities.
The Nifty remained volatile during the week in the 10,600-10,800 range. Global markets were under pressure after the United States imposed a 25 percent tariff on $34 billion worth of Chinese imports. China fired back, accusing the United States of violating WTO rules and setting off "the largest trade war in economic history to date”. Markets shrugged off the U.S.-China trade war and bounced back. Back home, an increase in minimum support prices (MSP) for key crops took the market higher on hopes of a buoyant rural economy.
Markets remained on edge through the week on increasing trade tensions between the United States and its key trade partners, including China. Rising oil prices stoked fears that inflation will accelerate back home and the trade deficit could widen. The rupee falling to lifetime lows also played havoc.
Markets remained volatile throughout the week and ended with small gains as upsides were capped due to the United States and China indulging in tit-for-tat tariffs on imports, denting investors’ risk appetite. A plunge in crude oil prices ahead of a key OPEC meeting continued to influence investors.
Markets logged modest gains in a volatile and eventful trading week in which the Reserve Bank of India (RBI) raised rates for the first time in four years while maintaining a neutral stance.
Indian stock markets were optimistic during the week as crude oil prices dropped and the rupee recovered. Investors’ mood also tracked positive global cues as U.S. President Donald Trump revived a summit with North Korean leader Kim Jong Un.