Wholesale price inflation (WPI) fell to (-) 1 .21 per cent in October, driven by a decline in prices of food articles like pulses and vegetables, as well as lower fuel and manufactured items' prices, government data showed on Friday.
'The primary market's rhythm mirrors investor confidence. While sentiment may appear cautious, it reflects maturity, not weakness.'
Tata Steel was the biggest loser in the Sensex pack, sliding 8.59 per cent, followed by Tata Motors, Larsen & Toubro, Adani Ports, IndusInd Bank, Tech Mahindra, Reliance Industries, Sun Pharmaceutical, HCL Technologies, Tata Consultancy Services, Infosys, and NTPC, were the major laggards. On the other hand, Bajaj Finance, HDFC Bank, Nestle India, ICICI Bank, ITC, Asian Paints and Axis Bank were among the gainers.
From the Sensex pack, Asian Paints, ICICI Bank, PowerGrid, Larsen & Toubro, Bajaj Finserv, Bharti Airtel, Sun Pharmaceuticals, Maruti Suzuki India, Axis Bank, UltraTech Cement and HCL Technologies were the only gainers. On the other hand, Eternal, Tata Motors' commercial vehicles arm, Mahindra & Mahindra, Tata Steel, Bharat Electronics Ltd, Tata Motors Passenger Vehicles, Trent, Tata Consultancy Services, Hindustan Unilever, and Infosys were among the laggards.
From the Sensex firms, Adani Ports, NTPC, Power Grid, HCL Tech, Tata Steel, Sun Pharma, Trent and Asian Paints were among the major gainers. However, Bharat Electronics, Eternal, Mahindra & Mahindra and Maruti were among the laggards.
From the Sensex pack, Asian Paints, Tech Mahindra, Tata Consultancy Services, Bajaj Finserv, Adani Ports, HCL Technologies, Bharti Airtel, Infosys, Trent, Reliance Industries, UltraTech Cement, Sun Pharmaceuticals, Eternal, Titan and Bajaj Finance were the gainers. On the other hand, Tata Steel, Tata Motors Passenger Vehicles, Tata Motors Commercial Vehicles, Bharat Electronics, Kotak Mahindra Bank and PowerGrid were the laggards.
From labelling India the 'Tariff King' to slapping sweeping import duties, US President Donald Trump has steadily hardened his trade stance on India. These announcements are being seen as a pressure tactic to get New Delhi to agree to demands made by the US in the proposed Bilateral Trade Agreement (BTA).
US Ambassador-designate Sergio Gor emphasizes the importance of the India-US relationship after meeting with Prime Minister Narendra Modi, focusing on cooperation in defence, trade, and critical minerals.
The Congress party has criticized Prime Minister Narendra Modi's description of India and the US as 'natural partners,' citing President Trump's claims of using trade as leverage in India-Pakistan relations. The remarks come amid ongoing trade negotiations and fluctuating relations between the two countries.
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
From the Sensex pack, Asian Paints, NTPC, Reliance Industries, Tata Steel, Bajaj Finserv, Hindustan Unilever, Sun Pharmaceuticals, Adani Ports & SEZ, Axis Bank, Tata Consultancy Services, Titan and Bajaj Finance were the major gainers. Tech Mahindra, Kotak Mahindra Bank, Zomato, Tata Motors, and IndusInd Bank were the laggards.
So far this year, the rupee has fallen by 4.2 per cent, the worst among its Asian peers.
From the Sensex firms, Reliance Industries climbed 3.52 per cent after the firm on Friday reported a 9.6 per cent year-on-year rise in net profit for the September quarter, driven by strong performance in its consumer-facing retail and telecom businesses and a recovery in its core oil-to-chemicals segment. Bajaj Finserv, Axis Bank, State Bank of India, Tata Consultancy Services, Titan and Bharti Airtel were also among the gainers. However, ICICI Bank, Mahindra & Mahindra, Eternal, Adani Ports and Power Grid were among the laggards.
Among Sensex firms, Bharti Airtel, Reliance Industries, Eternal, State Bank of India, Tata Steel and HDFC Bank were the major gainers. However, Kotak Mahindra Bank, Bharat Electronics, Infosys and Bajaj Finance were among the laggards.
Equity markets this week would keenly track the upcoming GST Council meeting, macroeconomic data announcements and trading activity of foreign investors for further movement, analysts said. Moreover, developments related to tariff negotiations, global market trends and auto sales data would also drive investors' sentiment.
Savings for Indian refiners from purchasing Russian oil have decreased to a third of what they were in the years following Russia's invasion of Ukraine, which triggered global crises, sanctions, and discounted Russian oil seeking buyers. Despite this, savings from importing cheap Russian oil were significant enough to help Indian refiners tide over frozen petrol and diesel pump prices.
"I understood tariffs better than any human being in the world. And now with my tariffs, they were all dropping them. India was the most highly tariffed nation... And you know what, they've offered me no tariffs in India anymore. No tariffs," Trump said.
India's exports rose 9.03 per cent to $38.49 billion in April, the highest in six months, driven by healthy growth in sectors such as electronics and engineering goods, while the trade deficit widened to a five-month high of $26.42 billion. According to the commerce ministry data released on Thursday, imports increased by 19.12 per cent year-on-year to $64.91 billion in April due to a rise in shipments of crude oil and fertiliser.
'Geopolitically and diplomatically it's a very difficult situation for India.'
Among the Sensex firms, Bharat Electronics Ltd, Mahindra & Mahindra, Adani Ports, HCL Technologies, Eternal, Infosys, Bharti Airtel, Sun Pharmaceuticals, Larsen & Toubro, Hindustan Unilever and UltraTech Cement were the gainers. Bajaj Finance, Tata Motors Passenger Vehicles, Kotak Mahindra Bank, PowerGrid and Tata Steel were among the laggards.
From the Sensex firms, Bharti Airtel, Power Grid, Tech Mahindra, Infosys, Bajaj Finance and Reliance Industries were among the major laggards. However, Larsen & Toubro, Bharat Electronics, UltraTech Cement and Maruti were among the gainers.
Among Sensex firms, Bharti Airtel, HCL Tech, UltraTech Cement, Power Grid, HDFC Bank, Bajaj Finance, Tata Steel and ICICI Bank were among the major gainers. However, Axis Bank, Tata Motors, Trent and Infosys were among the laggards.
Indian manufacturing sector witnessed the fastest improvement in operating conditions in over 17 years in August, driven by an increased production efficiency and healthy demand conditions, a monthly report said on Monday. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI) rose from 59.1 in July to 59.3 in August, indicating the fastest improvement in operating conditions for 17-and-a-half years.
The deal fell through over unresolved disagreements over contentious issues, mainly on agriculture and automotive sector tariffs.
Among Sensex firms, Hindustan Unilever dropped the most by 3.20 per cent. UltraTech Cement, Kotak Mahindra Bank, Adani Ports, Titan, HDFC Bank and Axis Bank were also among the laggards. However, Bharti Airtel, ICICI Bank, Bharat Electronics and Sun Pharma were among the gainers.
The government has brought back the windfall profit tax on domestically produced crude oil after international prices firmed up while the levy on export of diesel has been cut to nil, according to an official order. The levy on crude oil produced by companies such as Oil and Natural Gas Corporation (ONGC) is now Rs 6,400 per tonne with effect from Wednesday, the order dated April 18 said. At the last revision on April 4, windfall tax on domestically produced crude oil was cut to nil as international oil prices dipped below $75 per barrel.
ONGC and Oil India might be hit because of this additional burden which they might have to take because of crude going to $100 per barrel.
India's leading agriculture commodity exchange, the National Commodity & Derivatives Exchange (NCDEX), has decided to acquire around a 20 per cent stake in a new commodities and financial derivatives exchange being set up in Sri Lanka, subject to regulatory and governmental approvals. The move aims to deepen NCDEX's footprint in the financial ecosystem of its neighbouring country.
Among Sensex firms, Bajaj Finance and Bajaj Finserv were the biggest gainers. Asian Paints, Larsen & Toubro, Trent, UltraTech Cement, Eternal and Adani Ports were also among the winners. However, Tata Motors, Infosys, Tech Mahindra and Axis Bank were among the laggards.
The Indian government is studying the implications of US President Trump's announcement to impose tariffs on Indian goods and remains hopeful of concluding a bilateral trade agreement.
Bajaj Finance, Bharat Electronics, Tata Steel, Tata Consultancy Services, NTPC, Trent, Asian Paints and Axis Bank were the major laggards among Sensex stocks. However, Tech Mahindra, ICICI Bank, Power Grid, Hindustan Unilever and Reliance Industries were among the gainers.
A resurgence in Saudi Arabian supplies of crude oil to India coupled with an attack on an Iraqi tanker in August carrying crude to Europe may result in improved bargaining power for India with West Asian and Russian suppliers for winter supplies. Shipments of Saudi oil rebounded in September from August, surging to the highest since March while Russian oil shipments rose marginally as Saudi Arabia tried to claw back market share in Asia, according to industry sources and ship tracking data.
India's brittle energy security is inextricably linked to two opposing paradigms - fossil fuels, and the transition to green energy. The first powers the present; the second paves the way for Viksit Bharat in 2047.
The government on Friday cut the windfall profit tax on locally produced crude oil in line with a fall in international rates, and reduced the levy on export of diesel and jet fuel (ATF). At the fifth fortnightly review, the government reduced tax on domestically-produced crude oil to Rs 10,500 per tonne from Rs 13,300 per tonne. The levy on the export of diesel was reduced to Rs 10 per litre from Rs 13.5. Also, the tax on Aviation Turbine Fuel (ATF) exports was cut to Rs 5 a litre from Rs 9 with effect from September 17, according to a finance ministry notification issued late Friday night.
The growth in production of eight key infrastructure sectors slowed down to 6.1 per cent in July this year due to a decline in the output of crude oil and natural gas, according to official data released on Friday. The growth rate, however, is up from 5.1 per cent in June.
'The US values its relationship with India and under the strong leadership of President Donald J Trump and Prime Minister Modi, I am optimistic about the days ahead for both of our nations.'
Among Sensex firms, Tata Motors, Mahindra & Mahindra, Bharat Electronics, UltraTech Cement, Trent, Sun Pharma, Power Grid and Reliance Industries were the major laggards. However, Titan, Infosys, Tata Consultancy Services, HCL Tech and Tech Mahindra were among the biggest gainers.
Prime Minister Narendra Modi conveyed to Ukrainian President Volodymyr Zelenskyy that India remains committed to making every possible contribution for an early and peaceful solution to the conflict. Zelenskyy sought India's support in limiting Russian energy exports.
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