Sales of gold coins and bars should be curbed after reaching around 300 tonnes
Equity benchmarks declined on Tuesday after a three-day rally, with the Sensex falling 359.33 points amid selling in index majors HDFC, Reliance Industries and Infosys. Investors were cautious ahead of release of GDP data, while a jump in crude oil prices also weighed on market sentiment, traders said. The 30-share BSE Sensex went lower by 359.33 points or 0.64 per cent to settle at 55,566.41.
Such campaigns would badly affect players in the traditional retail market.
The prime minister thanked the people but said it was the start of a long battle, as he urged them to follow social distancing to stop the chain of transmission of Coronavirus which has infected 360 people and claimed seven lives in India.
A closer look at the data reveals that a lot of the items are not part of this calculation. The notable ones include buffalo meat, marine exports, raw cotton, and plantation crops such as tea, coffee, rubber, etc.
Markets regulator Sebi's proposal of treating all orders emanating from application programming interface (API) as algorithmic or algo order can restrict the growth of such trading in India, brokerage houses said on Monday. In market parlance, algo trading refers to any order that is generated using automated execution logic. The algo trading system automatically monitors the live stock prices and initiates an order when the given criteria are met.
Smaller Singapore- and US-based venture capital funds, retail associations and trader bodies such as the CAIT and SJM are all planning to approach the government to put pressure on the commerce ministry.
The probe is being conducted under various sections of the Foreign Exchange Management Act (FEMA) after the central probe agency recently received a communication from the commerce ministry seeking "necessary action" against e-commerce players like Amazon and Flipkart pertaining to certain multi-brand retail businesses and an observation made by the Delhi High Court in relation to Amazon.
He also announced unemployment allowance for the youth, as the party's fourth poll guarantee, on coming to power.
After the Covid-19 pandemic that derailed the economy since 2019, the Durga Puja festival in West Bengal is back with an estimated 20-30 per cent jump in festive spending. Retail sector is the key contributor to the state's Durga Puja economy which was Rs 32,377 crore in 2019, according to a British Council study conducted for the state government. Retail accounts for 85 per cent of the total puja economy and the rest is shared among pandal making, decoration, illumination, entertainment, advertisement, food & beverage and others.
Stock market investments are always said to involve risks and people who made big fortunes often made headlines as scamsters, leading to Dalal Street always being looked at with suspicion, but Rakesh Jhunjhunwala was broadly an exception. Jhunjhunwala, a partner at RARE Enterprises, who rose to amass a $5.8 billion fortune and earn the tag of the country's biggest individual investor, leaves behind a relatively cleaner slate, as was seen in the most common description for him -- 'India's own Warren Buffett'. Unlike names like Harshad Mehta and Ketan Parekh, whose rise in fortunes in post-liberalised India was tainted with scam links, the newest 'Big Bull' in the more-regulated market had lesser baggage on this front.
Investors' wealth eroded by over Rs 4.90 lakh crore on Friday amid a sharp fall in equities. The 30-share BSE Sensex tanked 1,020.80 points or 1.73 per cent to settle at 58,098.92. During the day, it tumbled 1,137.77 points or 1.92 per cent to 57,981.95. The market capitalisation of the BSE-listed firms plummeted by Rs 4,90,162.55 crore to Rs 2,76,64,566.79 crore on Friday.
The warning by the anti-trust watchdog has come days ahead of Amazon founder Jeff Bezos' India visit, about which the Seattle-headquartered company has been tight-lipped. Sources in the know indicated that Bezos, coming on a short trip, has sought a meeting with Prime Minister Narendra Modi.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
If the current situation prevails, exports to China could fall by 10-15 per cent. Meanwhile, even the prices of cotton, of which Gujarat is one of the leading producers, have taken a hit.
Top losers in the Sensex pack included SBI, Tata Steel, Hero MotoCorp, Bajaj Auto, ONGC and IndusInd bank.
From the rollback of customs duty on key electronic components to fast tracking delivery of goods imported from China, players are looking for incentives on several counts.
Regaining the lost sheen, sales of gold jewellery and coins are set to touch pre-COVID levels in volume terms on the auspicious Dhanteras as easing pandemic concerns and pent up demand saw consumers flocking to stores to buy the precious metal. Increased footfall at stores and brisk sales online as well as relatively softer gold prices compared to record Rs 57,000 per 10 grams level in August spurred increased buying, especially light weight offerings, on Tuesday. Dhanteras is considered to be auspicious for buying precious metals and other valuable items.
The Congress leader said he has traversed across the country, "but I have not seen violence, hatred anywhere. But I see it on television all the time."
Equity indices chalked up losses for the second straight session on Monday, in tandem with a bearish trend overseas as ratcheting up of hostilities in Ukraine and prospects of further rate hikes by the US Fed soured global risk sentiment. The rupee slipping to another all-time low against the US dollar amid foreign fund outflows added to the gloom, traders said. After tumbling over 800 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 200.18 points or 0.34 per cent lower at 57,991.11.
'Wage earners are shrinking. In both, the organised and unorganised sectors. And, entrepreneurs are growing.' 'But the increase in entrepreneurship is of a kind that does not create salaried employment or daily wage employment,' says Mahesh Vyas.
In this round, the market has won. But it is still for Gautam Adani to decide whether he has lost or not, argues Shekhar Gupta.
It has the potential to burnish his image as a strong leader, bring down inflation and could turn out to be common man-friendly.
IndusInd Bank was the top gainer in the Sensex pack, spurting over 5 per cent, followed by Bajaj Finserv, HCL Tech, Bajaj Finance, Kotak Bank and Axis Bank. NSE Nifty jumped 203.15 points to 17,780.00.
Nirmala Sitharaman's messaging was clear when she presented a well-balanced Budget with an eye on state elections in nine states followed by a general election next year, observes Ramesh Menon.
The turmoil, if you read the headlines, is about the so-called funding winter. Deep down, though, the question is one of the common direction in which founders and investors need to pull, points out Suveen Sinha.
A lesson we have not learnt from China is the urgent need to knit the vast country together to keep it from falling apart at the seams. While there is considerable dent in poverty, sadly, the North East remains as distant today as it always was, points out Shreekant Sambrani.
The Delhi Hotels and Restaurant Owners Association, which has more than 3,000 budget hotels and restaurants as members in the national capital, has written to the Confederation of All India Traders (CAIT) informing about the decision and the grouping's full support to CAIT's boycott Chinese goods campaign.
Mixed earnings and not so encouraging macroeconomic data dented sentiment, Ajit Mishra, VP - Research, Religare Broking Ltd said. In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent, while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. In the broader market, BSE Midcap declined 0.73 per cent while smallcap dropped 0.45 per cent.
"We have seen enough of strikes and curfews for the past four months and now we want to feed our families. We cannot go on forever like this," a vendor, who identified himself only as Khalid, told PTI
The Lipulekh pass is a far western point near Kalapani, a disputed border area between Nepal and India.
A magistrate court in Dominica on Thursday sent businessman Mehul Choksi to a state prison, his lawyer in India said, but added that he would continue to remain in hospital as his medical condition "deteriorated".
On May 6, the fund house had issued a statement where it had stated that it had launched a suo motu investigation two months ago to probe potential irregularities.
'If Walmart is a physical retailer, why is it striking a deal with Flipkart for the online space?'
Sellers, especially the smaller ones, are planning to go to court as well as move CCI as they fear that Walmart could bring multiple private labels in India and flood the e-commerce platform with its own products.
With a record 1,45,384 fresh cases, India's COVID-19 tally has climbed to 1,32,05,926, the health ministry said.
Surat is home to more than 3,000 large and small polishing companies.
A senior official of India Post at Kolkata General Post Office told PTI that since e-commerce is a sunrise industry, it is trying to earn higher revenue in the region by involving local traders and business houses.
Five years after demonetisation, which sought to curb black money and reduce cash circulation in the economy, 70 per cent of respondents said they paid a large component of the total payment towards a real estate transaction in cash. About 16 per cent said they paid over half the amount in cash, observes Shyamal Majumdar.
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