'India's fundamentals are a lot better (than those of other emerging market economies).' 'India will suffer (witness a fall in its stock market) what I call the second order effect.' 'And the second order will happen when these funds (belonging to macro and hedge fund investors and which have leveraged Japanese yen-carry trades), because they lose money elsewhere as lot of their positions were financed by borrowing Japanese yen, will have to book profits in investment destinations where they are making money, including in markets like India.' 'They (these investors) will have to effectively sell in countries like India and which is the consequence (the crash in equity markets) that Indian markets might see.'
This is apart from the requirement to stock hydroxychloroquine (200 mg) and Azithromycin (500 mg) tablets for patients requiring ICU management, asymptomatic healthcare workers and asymptomatic household contacts of positive cases.
India is all set to train a large number of cotton traders from African countries from Tuesday.
The Enforcement Directorate on Wednesday said it has attached fresh assets worth Rs 29.75 crore of fugitive diamond trader Nirav Modi under the anti-money laundering law. A provisional order has been issued under the Prevention of Money Laundering Act (PMLA) to attach these assets that are in the form of bank deposits, land, and buildings, it said in a statement.
Demonetisation and GST are the main reasons for the job losses.
From the 30 Sensex firms, Tata Steel, JSW Steel, Power Grid, HDFC Bank, Tata Motors and Larsen & Toubro were the biggest gainers. Hindustan Unilever, Infosys, Bajaj Finance, Axis Bank, Kotak Mahindra Bank and UltraTech Cement were among the laggards.
Gold prices tumbled by Rs 3,350 to Rs 72,300 per 10 grams in the local market in New Delhi on Tuesday amid subdued demand by jewellers after the government announced the customs duty cut on the yellow metal and silver to 6 per cent.
The market could consistently undervalue a certain kind of business.
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.
The government on Friday scrapped a minimum price threshold that it had set previously for exports of onion as it looked to pass on the benefit of international glut to Indian farmers. The government had previously fixed a $550 per tonne as the minimum export price (MEP), which essentially meant farmers could not sell their produce overseas at lower than this rate.
In 50 days, 60% of the work force was let off in retail, agri, textile and other sectors.
The Reserve Bank of India's (RBI's) record surplus transfer to the government has raised hopes among bond traders that the government might reduce its gross borrowing for the current financial year (2024-25/FY25) by up to Rs 1 trillion. The RBI approved a dividend of Rs 2.11 trillion for the central government for 2023-24, marking an increase of roughly 141 per cent from 2022-23 (FY23). In addition, the contingency risk buffer has been raised to 6.5 per cent from the previous 6 per cent.
The Centre on Thursday began the first phase of retail sales of onion at a subsidised rate of Rs 35 per kg to provide relief to Delhi-NCR and Mumbai consumers from rising prices of the kitchen staple. NCCF and NAFED, which are maintaining a buffer stock of 4.7 lakh tonne onion on behalf of the government, will undertake the retail sale through their own stores and mobile vans. Onion will be sold at 38 retail points in Delhi-NCR and Parel and Malad in Mumbai.
American online major Amazon seems to be almost doubling its India investment going by the company's recent announcement during Prime Minister Narendra Modi's state visit to the US. From the time the Seattle-headquartered company started its India journey in 2013, its investment into the country is pegged at $11 billion or roughly $1.1 billion a year. By committing a fresh round of $15 billion by 2030, the Jeff Bezos-founded company's investment would go up to more than $2 billion a year over the next seven years.
Tasting success with the relaunch of Sensex derivatives in the onshore market, BSE is preparing for the 'offshore' debut of its 30-share index, which has become synonymous with the domestic markets. Sources in the know said that the India International Exchange (India INX), a subsidiary of BSE, received approval in July from the International Financial Services Centres Authority (IFSCA) to launch Sensex 30 derivatives contracts.
Many are attracted by the potential for large gains, but don't necessarily seem to understand that a single trade gone wrong can wipe out their accumulated profits.
The Securities and Exchange Board of India (Sebi) is likely to notify soon stricter derivatives trading norms aimed at curbing speculative trading activity and curtailing losses of over Rs 50,000 crore incurred by retail investors every year. Based on the feedback received from industry participants, seven measures proposed by the market regulator in a consultation paper in July may be implemented with minor tweaks ahead of its forthcoming board meeting, said sources.
The volume of shares traded in the stock market had fallen 28 per cent in April. Turnover, or the value of securities changing hands, fell 12.6 per cent. This trend of falling volumes seems to have stabilised in May.
The Kerala government announced on Wednesday that the Argentina national football team, led by legendary player Lionel Messi, will visit the state next year for an international friendly match, which Chief Minister Pinarayi Vijayan hailed as a tribute to state people's passion for soccer.
Among the Sensex firms, Titan, Asian Paints, ITC, Hindustan Unilever, Nestle India, Bajaj Finserv and Bharti Airtel were among the gainers. In contrast, UltraTech Cement, Tech Mahindra, Tata Steel, Power Grid, HDFC Bank, HCL Technology, State Bank of India and ICICI Bank were the laggards.
'Every year, the marble industry is shrinking due to tiles. It has already decreased by 20-25 per cent in recent years.'
Gold imports more than doubled in August to a record high of $10.06 billion, mainly on account of a drastic cut in customs duty and ongoing festive demand, according to the Commerce Ministry data. Gold imports stood at $4.93 billion in August 2023. On record high imports, Commerce Secretary Sunil Barthwal said that the tariff rates on gold have been reduced drastically so that smuggling and other activities can come down.
Traders are 'chowkidar' (watchman) of Indian economy, CAIT secretary general said.
Thousands of small brands are ruling the consumer market despite the predatory pricing and deep discounting by foreign e-commerce companies and efforts of certain FMCG companies to sideline the distributor network, said the Confederation of All India Traders (CAIT), which represents about 70 million traders in the country. "If the government gives support policies to non-corporate sector and tighten the e-commerce companies to obey the policy and the law both in letter and spirit, the retail trade of the country is bound to blossom in pursuance of the vision of PM Narendra Modi for Make in India and Atmnirbhar Bharat," said CAIT national president BC Bhartia and secretary general Praveen Khandelwal.
Dhanatrayodashi is called Dhanteras and its twinkling lights set the mood of India's greatest and most popular festival -- Diwali, the festival of lights.
Only investors with knowledge of cryptocurrencies, long-term conviction, and a long horizon should invest in this asset class.
As a panel of senior ministers deliberates on the need to review curbs on exports of some rice varieties, data shows that since outbound shipments saw restrictions in July-August last year, the non-basmati segment has suffered more than basmati exports. Sources said the panel is expected to soon deliberate on a few suggestions to ease the export curbs on some rice varieties due to higher-than-required stocks in the central pool. The panel, some observers feel, may also postpone the decision to ease the export curbs till a firm picture emerges on the latest kharif paddy sowing.
With the earnings season drawing to a close, stock markets will take cues from global trends and foreign investors' trading activity this week, analysts said. The US FOMC (Federal Open Market Committee) minutes will be the major highlight this week, experts said. "This week, there are fewer cues on the macro and micro fronts, as the Q1 earnings season has concluded.
Urals and Sokol accounted for every 4 out of 5 barrels of Russian supplies to India last year.
'Sebi had no problem with derivatives until trading exploded after Covid.' 'But now, having built a dangerous road, from which different entities, mainly governments, are extracting a heavy toll, Sebi is concerned that people are driving on it in much greater numbers,' explains Debashis Basu.
It said Naisar Kothari, a resident of Bhavnagar in Gujarat, was arrested under sections of the Prevention of Money Laundering Act (PMLA) and he has been sent to the ED custody till December 22 by a court.
Exchange-traded currency derivatives volumes are likely to drop in view of new Reserve Bank of India (RBI) rules, casting a cloud over further participation of retail investors and proprietary traders. There are concerns that existing positions without any underlying exposure will need to be liquidated. Also, weighed down by dollar demand from local oil companies and weakness in its Asian peers, the rupee on Wednesday (April 3) ended at a new closing low of 83.44 versus the US currency.
A new murder case has been filed against Bangladesh's deposed prime minister Sheikh Hasina and 62 others, including ex-ministers of her cabinet, over the death of a fish trader during the quota reform protests in the country, a media report said on Monday.
Market chatter suggests that the BJP could win fewer than 300.
Invest with a 5 to 7 year horizon so that you are able to ride out price volatility and benefit from the long-term trends of demand and macroeconomic shifts.
The Confederation of All India Traders (CAIT) also expects that consumers may spend about Rs 2 lakh crore during the Diwali festival sale period. "Like previous year, this year too CAIT has given a call of 'boycott Chinese goods' and it is certain that China is going to suffer a business loss of about Rs 50,000 crore in terms of stoppage of import of chinese goods by Indian traders," CAIT stated.
BSE (formerly Bombay Stock Exchange) has seen its market share go past the critical 20 per cent mark in the derivatives segment, intensifying its battle with bigger rival - the National Stock Exchange (NSE) - which, less than a year ago, had a monopoly in this space. In April, the average daily trading volume (ADTV) for BSE stood at Rs 89 trillion, accounting for 20.6 per cent of the overall ADTV of Rs 432 trillion (based on notional volumes for options).
No form or requisition slip is required for exchange of Rs 2,000 notes up to a limit of Rs 20,000 at a time as part of exercise to withdraw high-value currency notes from circulation. RBI on Friday in a surprise move announced withdrawal of Rs 2,000 currency notes from circulation but gave public time till September 30 to either deposit such notes in accounts or exchange them at banks. Unlike the November 2016 shock of demonetisation, when old Rs 500 and Rs 1,000 notes were invalidated overnight, the Rs 2,000 notes will continue to be a legal tender.
ITC, State Bank of India, HCL Technologies and IndusInd Bank were the other big laggards. NTPC, UltraTech Cement, HDFC Bank and Mahindra & Mahindra were among the gainers.
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.
