From the markets' perspective, a greater predictability of the RBI's intervention will give them a space to operate in.
Tomato prices are likely to touch Rs 300 per kilogram in the coming days and the prices of vegetables are also on the rise, according to wholesale traders. Kaushik, a member of Agricultural Produce Marketing Committee (APMC), said that vegetable wholesalers are facing losses as the sale of tomato, capsicum, and other seasonal vegetables has fallen drastically. He said that the prices of tomatoes have shot up to Rs 220 per kilo from Rs 160 per kilo in the wholesale market, owing to which retail prices can also go up.
Close on the heels of truckers' strike, tea traders and producers across the country on Monday began their two-day nationwide agitation in protest against the proposed 12.5 per cent tax slab on tea under the value-added tax regime.
Though the markets falling under the posh A and B categories, which face a sure axe, remained closed, some of the major markets of the city like Sarojini Nagar, Cannaught Place and Janpath reopened, bringing back normalcy.
Jewellery traders said the exemption of branded jewellery from excise duty will have a marginal effect on the traders as only few customers buy\nbranded jewellery.
The decision to allow 51 per cent foreign direct investments in multi-brand retail has been put on hold by the government following strong objections from the Opposition and key United Progressive Alliance allies Trinamool Congress and Dravida Munnetra Kazhagam.
Vegetable traders further pointed out with Pakistan remaining rigid on not lifting ban despite requests made by Pakistani traders, all the orders for the import of onion now stand cancelled.
The market could consistently undervalue a certain kind of business.
The CBI had on Sunday deferred his questioning after he sought time from the agency citing the Delhi government's ongoing budget exercise.
A section of traders and hawkers today staged protests in various parts of the country against the government's decision on FDI policy in multi-brand retail, the Confederation of All India Traders (CAIT) said.
External Affairs Minister S M Krishna on Wednesday assured two Indian traders, trapped in a financial dispute with local businessmen in the commodity hub of Yiwu, that he would take up their case with his Chinese counterpart on Thursday.
Samajwadi Party president Akhilesh Yadav on Friday attacked the Uttar Pradesh government over the death of a Kanpur businessman in a police raid, claiming that the case is linked to an extortion racket and "someone" is trying to save himself.
The rupee fell on Monday on fears of foreign outflows after stronger-than-expected US jobs growth data cemented expectations of an early end to US stimulus measures.
Turning out in huge numbers, traders and Bharatiya Janata Party activists staged a huge demonstration at Noida Mode intersection in East Delhi, creating a massive traffic jam.
If at all it was some great strategy, the delay has only helped the person they eventually arrested.
The decision to go on strike comes as the Supreme Court-ordered sealing drive against trading activities in residential areas is set to resume from November 1.
In 50 days, 60% of the work force was let off in retail, agri, textile and other sectors.
India has imposed several restrictions on imports of gold, the biggest non-essential import item, to curb a record trade deficit.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
The government on Friday proposed hiking the securities transaction tax on Futures & Options (F&O) contracts, a move that will increase the trading costs in the derivatives segment as well as help in curbing excessive trades. In the Finance Bill 2023, passed by the Lok Sabha on Friday, the Securities Transaction Tax (STT) on options is proposed to be increased to 0.0625 per cent from 0.05 per cent and on futures contracts to 0.0125 from 0.01 per cent. Analysts opined that higher STT will shore up the government's revenues to some extent and also discourage excessive trading since a large number of retail traders are losing money in the segment.
To restrict onion exports and help cut prices in the domestic market, the government had gradually raised the MEP to $1,150 a tonne from $650 a tonne a few months earlier.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
The banking system liquidity bounced back to surplus mode after three weeks, the Reserve Bank of India (RBI) data showed. This was due to government spending, according to dealers. The liquidity situation could further ease with the disbursement of the last tranche of incremental cash reserve ratio (I-CRR) worth Rs 50,000 crore on Saturday.
Considered one of the most prolific traders in London's financial circles, Rajesh Gill, 37, studied at Harvard and the London School of Economics and used to make over 100 transactions a day, The Daily Telegraph reported on Thursday.
A Pakistani court has directed three men to drop the Indian high commission from the list of respondents in their petition seeking protection from authorities after reports in the Indian media described them as operatives of the banned Lashkar e Tayiba. The Lahore high court directed the three men -- traders Mehtab Butt and Atif Butt and security guard Babar Shabbir -- to file an amended petition after deleting the name of the Indian mission from the list of respondents
Wouldn't it be better to join the celebrations with the vast Hindu majority while at the same time criticising Mr Modi/BJP/RSS for politicising it? notes Shekhar Gupta.
The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
Kweku Adoboli, a 31-year-old trader at UBS based in London makes Nick Leeson, once-legendary rogue trader at Barings Securities look like an amateur.
The Supreme Court on Friday ordered the transfer of trial in the death case of a Kanpur-based businessman in which six policemen have been charged with murder to a CBI court in Delhi after the Uttar Pradesh government said that it has no objection to it.
With the Income Tax department recovering over Rs 225 crore cash during a series of raids on an Odisha-based distillery group on charges of tax evasion, Prime Minister Narendra Modi on Friday assured the people that the money looted from the public will be returned.
Life Insurance Corporation of India (LIC) reported weak growth through H1FY24 but it witnessed a boost in embedded value (EV) due to equity-market performance. But concerns regarding its stock include loss of market share as it is outpaced by private sector rivals, sticky operating expenses (reduced slightly year-on-year but up in Q2FY24 versus Q1FY24), and high sensitivity of embedded value to equity volatility. Traders may also factor in the likelihood of another stake sale by the Government of India.
Addressing an election meeting on what once was the home turf of slain gangster-politician Atiq Ahmed, Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday appeared to invoke nature as a great leveller -- a force that delivers justice.
The police seized a huge quantity of explosives and banned firecrackers during raids in different locations in rural West Bengal and arrested at least 100 people for their alleged involvement in running illegal manufacturing factories, a senior state police official said on Tuesday.
The National Stock Exchange (NSE) of India is going to indefinitely defer the internal deadline set for extending trading hours, according to sources in the know. The exchange aimed to introduce a three-hour evening session exclusively for index derivatives by March 2024, contingent upon regulatory clearance from the Securities and Exchange Board of India (Sebi). Sources indicate that the market regulator has not provided a favourable indication, dimming optimism surrounding the proposal.
Only the top 5 per cent profit makers account for 75 per cent of profits.
Finance Minister Arun Jaitley in the Budget for 2016-17 had proposed 1 per cent excise duty on jewellery without input credit or 12.5 per cent with input tax credit on jewellery.
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