Analysts remain bullish on the road ahead for the equity markets, but warn against volatility on account of domestic and global cues. The upcoming Lok Sabha elections back home and the interest rate trajectory of the US Federal Reserve, they said, will be the two most important factors that the markets will keep a tab on. That apart, the valuation of the Indian markets, they feel, will also be eyed in context of how global peers are performing.
French president Emmanuel Macron arrived on Thursday in a decked-up Jaipur city, where he will spend several hours savouring the sites -- and perhaps some roadside chai -- before engaging in talks with Prime Minister Narendra Modi on strengthening India France ties.
The case dates back to August 2017 when the Income Tax department had carried out searches at multiple premises in Delhi as part of its alleged tax evasion probe against Shivakumar, his alleged business associate and liquor trader Sachin Narayan, another associate Sunil Kumar Sharma who operated a fleet of luxury buses, Karnataka Bhawan (Delhi) employee A Hanumanthaiah and former state government employee and caretaker posted at the Karnataka Bhawan Rajendra N.
On Monday, Kejriwal, 55, skipped the seventh summons issued to him in the case, saying he would appear before the agency if a court ordered him to do so.
ED officials said that Subhash was produced before a special PMLA court on Sunday morning and was sent to judicial custody.
Among the Sensex firms, IndusInd Bank was the biggest loser and fell 6.13 per cent, followed by SBI (3.99 pc), Hindustan Unilever (3.82 pc), Axis Bank (3.41 pc) and HDFC Bank (3.23 pc). In contrast, Sun Pharma, Bharti Airtel, ICICI Bank and PowerGrid defied the trend and closed with gains of up to 3.67 per cent. TCS and Bajaj Finserve were the other gainers.
He said their business was getting affected as the protesters had blocked the road leading to Nithari due to which no vehicles could ply on that stretch.
The Enforcement Directorate has issued two summons to Delhi Chief Minister Arvind Kejriwal to appear for questioning on March 18 and 21, official sources said Sunday.
Top government officials in New Delhi have started discussions with stakeholders ranging from shipping and container companies to export promotion councils to understand the impact of the Iran-Israel tensions and plan ahead. Inter-ministerial talks are also being lined up amid the crisis situation in West Asia, sources confirmed. While the crude flows are not directly under any threat, elevated oil prices remain a concern, according to officials.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
It bought Rs 410 crore of electoral bonds between financial years 2021-22 and 2023-24, but Reliance said the company is not a subsidiary of any Reliance entity.
Jeera July futures in NCDEX touched a record high of Rs. 58,085 per quintal on Monday, before coming down to around Rs. 55,500 on Tuesday. This was due to profit booking and extension of additional surveillance margin of 2.5 per cent till July 18, including on all contracts to be launched in the future. The softening, according to some reports, is also because of fears of regulatory action on jeera traders over allegations of excessive speculation.
The Indian equity market clocked record average daily turnover (ADTV) in both the cash and derivatives segments in February amid a spike in volatility. The ADTV for the cash segment for both the exchanges combined came at Rs 1.27 trillion, while the same for the derivatives or the futures and options (F&O) segment stood at Rs 483 trillion in the previous month. The volumes for both cash and derivatives have almost doubled from a year ago on the back of rising retail participation in the world's fourth largest equity market.
Chana is majorly imported from Australia and Tanzania and it attracts an import duty of 60 per cent. A section of the traders is demanding a reduction in import duty to around 35-40 per cent to tide over any shortage of the commodity as the new crop will start hitting the market only around mid-February.
Retailers claim online firms' predatory pricing strategy disrupting business
Qwik Supply, the third largest donor to political parities using electoral bonds, bought Rs 410 crore bonds between 2021-22 and 2023-24, and gave all but Rs 25 crore to the BJP.
The Enforcement Directorate (ED) has issued a fresh and the fifth summons to Delhi Chief Minister Arvind Kejriwal for his questioning in the Delhi excise policy linked money laundering case, official sources said Wednesday.
'I have nostalgia for Ladakhi culture, which is common to both Muslims and Buddhists.' 'It is kind of a Buddhist way of life. You are compassionate and nice to each other.' 'You are good human beings.'
'Somebody was using somebody to make statements that will stir the stock market and lead to a surge.' 'A sudden surge and a sudden crash is always an ideal situation for people to make illicit gains and then siphoning off the money.'
Traders' body CAIT has filed a complaint with the Ministry of Consumer Affairs against a Flipkart advertisement featuring Bollywood star Amitabh Bachchan on the upcoming Big Billion Days sale, terming the advertisement as "misleading". The Confederation of All India Traders (CAIT) in its complaint to the Central Consumer Protection Authority (CCPA) termed the advertisement "misleading" and against the country's small retailers. It has also sought withdrawal of the advertisement, according to a statement. CAIT demanded that a penalty be imposed on Flipkart as per relevant provisions of the Consumer Protection Act for "false or misleading advertisement" and imposition of a Rs 10 lakh fine on Bachchan.
Among the Sensex firms, Larsen & Toubro, Bharti Airtel, HCL Tech, Tata Motors, Sun Pharma and Tata Steel were the major gainers. On the other hand, Nestle, Asian Paints, Bajaj Finserv, HDFC Bank and Axis Bank were among the laggards.
The case under the Gangsters Act was registered against Ansari at the Karanda police station in 2010 following the murder of Kapildev Singh, a teacher, and an attempt on the life of Meer Hasan, a trader, both in 2009.
The Enforcement Directorate has issued fresh summons to Delhi Chief Minister Arvind Kejriwal, asking him to appear before it on February 26 for questioning in the excise policy linked money laundering case, official sources said Thursday.
Chief Minister Basavaraj Bommai appealed to people to celebrate Hindu new year Ugadi and 'Hosa Tadaku' festivals peacefully without disturbing law and order.
The Bharatiya Janata Party also slammed Kejriwal's continuation as the chief minister of Delhi despite being under arrest, saying it is the most unfortunate moment in the country's political journey and the worst kind of politics.
Three terrorists were gunned down in an encounter with security forces in Anantnag.
However, in recent times, the clout that trader bodies such as CAIT and other organisations like Swadeshi Jagran Manch and Laghu Udyog Bharati has is steadily increasing. Earlier this year, trader bodies were able to convince the government not to extend the deadline for implementation of the new norms in FDI policy on e-commerce.
The traders said that the recent SC order would cause huge losses to them.
Usually, turmeric is grown over 290,000-330,000 hectares of land. But in 2022-2023, according to official estimates, there has been a drop of about 10,000 hectares.
The AAP said that the ED should wait for the court's decision instead of repeatedly sending summonses to Kejriwal.
While the Confederation of All India Traders is organising nationwide protests tomorrow, others like Bhartiya Udyog Vyapar Mandal plan similar movements next month.
Bansuri Swaraj, the daughter of former Union minister Sushma Swaraj, will contest the upcoming Lok Sabha polls from the New Delhi seat and incumbent MP Manoj Tiwari from Northeast Delhi as the Bharatiya Janata Party on Saturday announced the names of five candidates from the national capital, dropping four MPs -- Meenakshi Lekhi, Harsh Vardhan, Parvesh Verma and Ramesh Bidhuri.
After a brief hiatus, traders in Delhi on Monday resumed their anti-sealing agitation with some of their leaders courting arrest in West Delhi.
The gangster-politician was booked in 65 criminal cases ranging from murder to extortion and was elected an MLA five times on the tickets of different political parties.
Tracking losses in the broader market that has seen the Nifty Smallcap 250 index and the Nifty Midcap 100 indices slip 9 per cent 6.1 per cent in the last three sessions, the frontline Nifty 50 index has remained resilient and registered a fall of 2.2 per cent during this period. Going ahead, can the nervousness in the mid- and small-cap universe spread to the large-cap peers? Most analysts do not think so. They expect a minor dip and a sharp recovery as investors flock to the large-caps in search of safety and value buying as the mid-and small-caps falter.
Among the Sensex firms, NTPC, Mahindra & Mahindra, Power Grid, Nestle, Tata Motors, ITC, Bharti Airtel and Kotak Mahindra Bank were the major gainers. In contrast, Larsen & Toubro, Wipro, JSW Steel, UltraTech Cement, and Asian Paints were among the laggards.
Prime Minister Narendra Modi made a pitch for electing a strong and stable government in an uncertain world beset by geopolitical tensions as the Bharatiya Janata Party on Sunday released its manifesto, prioritising development and welfare while shunning populist measures and contentious issues like the National Register of Citizens (NRC).
Information technology (IT) companies have been on the road to revival in the past one year. From being the worst-hit sector in 2022 with a loss of 26 per cent, the Nifty IT index closed 2023 with gains of 24 per cent. So far in 2024, the index is up around 7 per cent against the nearly flat Nifty 50 benchmark index. The IT index has been on a continuous decline in the last three sessions.
Bond market participants expect an open market operation (OMO) auction in the first week of November as the banking system liquidity is expected to ease on the back of government spending and maturity of bonds. According to market participants, the Reserve Bank of India (RBI) will issue a notification on OMO sales by October 31. They speculate that the central bank might conduct the auctions in multiple tranches of Rs 10,000 crore.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.