Index heavyweights Reliance Industries and ITC were the top losers along with ICICI Bank and SBI
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
The time frame for this is difficult to specify and much depends on stability in the foreign exchange markets, Prime Minister's key economic advisor C Rangarajan said.
The rising COVID-19 infections across the country are a matter of concern, but it may not impact the ongoing economic revival as one does not foresee lockdowns, Reserve Bank Governor Shaktikanta Das said on Thursday. The economic revival will continue "unabated", Das said, asserting that there is no need for a downward revision of RBI's 10.5 per cent GDP growth forecast for FY22. Speaking at Times Network's India Economic Conclave, Das said, "We have 'insurance' to protect economic revival like a fast-paced vaccination drive, greater ability among people to follow COVID protocols", and one does not see lockdowns as well.
She said there was no bigger global challenge than "state-sponsored" and "state-protected terrorism, asserting those supporting terror networks must be made to pay the cost.
'We spent considerable time re-skilling all the employees, and then we created a new focus called the 'One Infosys'.'
It will be my top pick when I graduate to a half-marathon, says Veer Arjun Singh.
The Reserve Bank of India unexpectedly raised its policy interest rate on Tuesday by 25 basis points (bps) but said that if consumer price inflation eases as projected, it does not foresee further near-term tightening.
One in four people surveyed by Knight Frank said they were more likely to move in the next 12 months as a result of the Covid-19 pandemic.
United States National Security Advisor Susan Rice in her phonecall to her Indian counterpart said the White House expects Pakistan to take "effective action to combat and delegitimise" United Nations-designated terrorist groups.
Experts say foreign investor sentiment was bolstered by the US Federal Reserve's decision to go slow with interest rate hikes and hopes of political stability.
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
Do you have parents who have turned 60? You may want to forward Sarbajeet K Sen's suggestions to them.
'Indian macro conditions have never been better, and many businesses will safely compound earnings over the next five years.'
Your sibling will thank you for these, says Ashish Narsale.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
Pragmatism and flexibility is a virtue. An untethered and short-term approach to policymaking is a flaw, argues Mihir S Sharma.
Bank of America (BofA) Securities expects India to be the third-largest economy in the world by 2031. The economic rise could become a reality by 2028, but the Covid pandemic delayed the pace, BofA Securities economists Indranil Sen Gupta and Aastha Gudwani wrote in a report.
SBI said the crisis in Grece would have little impact on the bank.
A new user-friendly app to control the beast. Automatic transmission with petrol engine. Electronic sunroof. Plus, of course, the safety elements. Rajesh Karkera/Rediff.com on what makes the new XUV300 special.
"Throughout our history we've learned this lesson -- when dictators do not pay a price for their aggression, they cause more chaos. They keep moving. And, the costs and threats to America and the world keep rising," Biden said addressing the joint session of the Congress in his first State of the Union.
'IPOs not clicking is cause for worry,' says Sebi chairman.
Billionaire Mukesh Ambani on Friday backed the proposed data privacy and cryptocurrency bills, saying India is putting in place the most forward-looking policies and regulations. Ambani, who has been a votary of Indians owning and controlling their own data and the nation drafting strict rules around how digital information is stored and shared, said nations have the right to build and protect strategic digital infrastructure. Stating that data is the 'new oil', he said every citizen's right to privacy has to be safeguarded. "India is putting in place the most forward-looking policies and regulations," he said at the Infinity Forum, hosted by International Financial Services Centres Authority (IFSCA).
The watershed 2014 Indian election has thrown a decisive mandate after 30 years of coalition-based governments.
'When you have surplus cash flow and markets correct sharply, what options do you have other than buying good stocks?'
We asked you, dear readers to share your best tips on saving money. Rajarshi Pathak, 34, from Bengaluru shared these tips.
'The kind of tax which will be generated from the second pillar may far outweigh what we may be losing in the first pillar.'
The central bank dashed hopes of any steep interest rate reduction.
'We still need a certain number of large public sector banks for financial inclusion and stability purposes.'
P Chidambaram said that the fiscal deficit target for 2013-14 will be met and the current account deficit will be contained below $40 billion.
In all, 37 central banks around the world have eased monetary policy so far this year to boost growth, fight deflation or both
Experts said the 20 per cent drop in the market poses a challenge for companies that have set the ball rolling on their IPO plans as valuations will now have to realign. This could entail more dilution or lowering of the issue size.
The Shiromani Akali Dal chief said the passage of the Bills marks a 'sad day' for the 'country's millions and for democracy'.
'Any entrepreneur who wants to create companies on blockchain will have to move outside India.' 'A ban will also wipe out the entire asset investing class that has built up in India.'
'The Biden administration will not send any diplomatic or official representation to the Beijing 2022 Winter Olympics and Paralympic Games given the PRC's ongoing genocide and crimes against humanity in Xinjiang and other human rights abuses.'
Is the worst over for Indian banks? The past two years saw them ride on treasury trades as deposits soared and credit growth dipped sharply. Gross and net non-performing assets (NPAs) moved south, and the provision coverage ratio (PCR), capital buffers, and profitability indicators are back at pre-pandemic levels. So, what's the plot ahead?
In his second year at the helm, Infosys CEO & MD Salil Parekh looks optimistic about the company's growth prospects. With stability back in the industry, Parekh, in an interview with Bibhu Ranjan Mishra and Debasis Mohapatra, says turbulence is over and Infosys is on its way to regaining its old glory.
Blockchain's promise: Dramatically speeding up transactions, explains Ajit Balakrishnan.
Economists polled in a recent survey by Ficci unanimously felt that the rupee will continue to be under pressure in 2018-19
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
