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Inflows into India’s equity mutual funds at 10-month low as markets stumble

March 12 (Reuters) – Inflows into India’s equity mutual funds shrank to a 10-month low in February as the benchmark index posting its longest falling streak in nearly three decades pushed away investors, data released on Wednesday showed. Inflows fell 26% month-on-month, the steepest drop since April 2023, to 293.03 billion rupees (about $3.4 billion), according to data by the Association of Mutual Funds in India. Flows into largecap funds fell 6% month-on-month while those into smallcap and midcap funds fell 34% and 36%, respectively. India’s smallcap and midcap indexes fell 13% and nearly 11% in February, their worst month

Gold holds steady as markets eye inflation data

March 12 (Reuters) – Gold held steady on Wednesday ahead of a key U.S. inflation data that could help gauge the Federal Reserve’s interest rate path amid trade tensions and economic slowdown fears, while attention was also on a potential ceasefire deal in Ukraine. Spot gold was flat at $2,915.65 an ounce as of 0455 GMT, while U.S. gold futures were steady at $2,921.00. “Gold is operating in ‘consolidation mode’ ahead of the next batch of U.S. inflation data,” KCM Trade chief market analyst Tim Waterer said. Investors await U.S. Consumer Price Index (CPI) data due later in the day

Indian equity benchmarks inches lower as IT weakness overpowers broader gains

March 12 (Reuters) – India’s equity benchmarks inched lower on Wednesday, as a drop in information technology stocks on concerns over U.S. growth weighed on broader gains. The Nifty 50 was down 0.27% to 22,438.25 as of 10:12 a.m. IST while the Sensex fell 0.22% to 73,943.99. They rose 0.3% each in early trade. U.S. President Donald Trump pledged to double tariffs on Canadian steel and aluminum but reversed course in just hours later, in rapid-fire moves that added to worries over the U.S. economy and spooked investors. Fears of a looming recession in the U.S. have sent ripples of

Rupee trades almost flat with 1 paisa lower at 87.22 against US dollar

Mumbai, Mar 12 (PTI) The rupee turned almost flat and traded with a marginal loss of 1 paisa at 87.22 against the US dollar in early trade on Wednesday amid volatile sentiment due to uncertainties over trade tariff. According to forex analysts, a strengthening American currency index and a recovery in crude oil prices also added pressure on the local unit, which was already weighed down due to selling in domestic equity and the continuous outflow of foreign capital. They said, market participants were also trading cautiously awaiting cues from macroeconomic data to be released in India and the US

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