Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
Billionaire Mukesh Ambani's Reliance Industries Ltd climbed two spots to No. 53 on Forbes' latest Global 2000 list of public companies worldwide. Forbes Global 2000 ranks the largest companies in the world using four metrics: sales, profits, assets and market value, Forbes said releasing the 2022 ranking of the world's top 2,000 companies. Reliance is the top-ranked Indian firm on the list, followed by State Bank of India at No. 105, HDFC Bank at No. 153 and ICICI Bank at No. 204.
From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. Nifty tumbled 314.95 points to 17,160.70.
ADB's calculations imply almost half of India's population (47.7 per cent) was below the line in 2010. Both these estimates are based on the year 2005's purchasing power parity rates.
These include Goldman Sachs, HSBC, UBS, Deutsche Bank, Barclays, RBS, Citigroup and JP Morgan and they have said in their respective regulatory filings that they are cooperating with the relevant authorities in the investigations.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
IndusInd Bank was the top loser in the Sensex pack, shedding around 3 per cent, followed by Dr Reddy's, NTPC, Maruti, Axis Bank, Bajaj Auto, Bharti Airtel and HDFC. NSE Nifty declined 76.15 points to 15,691.40.
'We continue to believe that the global economy will narrowly avoid a recession, despite expecting the US, Canada, and most of Europe to fall into recession at some point over the next year or so.'
'We actually have a problem because there may be too much activity in India.' 'Markets don't like too much concentration. But we are very happy with our collaborations in India.'
TCS was the top gainer in the Sensex pack, rising around 2 per cent, followed by ONGC, SBI, L&T, Infosys, HCL Tech, ICICI Bank and Axis Bank. The broader NSE Nifty surged hit a record high of 14,109.40.
India's foreign reserves continue to march to record highs, touching USD 393 billion early this month backed by strong foreign portfolio and investment flows, according to Development Bank of Singapore.
But it scores high on firm dynamics - which is partly accidental, as it benefits from high labour turnover.
The world's biggest lockdown that shut a majority of the factories and businesses, suspended flights, stopped trains and restricted movement of vehicles and people, may have cost the Indian economy Rs 7-8 lakh crore during the 21-day period, analysts and industry bodies said.
The BJP has not really put up any defence for Rijiju who is mostly defending himself.
Reliance Industries was the top gainer in the Sensex pack, rising over 1 per cent, followed by M&M, HCL Tech, Axis Bank, ICICI Bank and HUL. On the other hand, Bharti Airtel, Maruti, SBI, PowerGrid, NTPC and Tata Steel were among the laggards.
New inventions allow Tencent Holdings' WeChat users to book taxis, top up phone credit, while Clone Algo's YAY App users are able to talk and chat free besides being able to apply for online for micro loans and use Clone Algo trading algorithms.
Sensex catapults 1,241 points and Nifty vaults 382 points in two sessions in a row.
The 2800 kilometer rail route could be a critical component for the Bangladesh-China-India-Myanmar corridor that seeks cross border trade and flow of people
India is likely to be the fastest-growing Asian economy in 2022-23, according to analysts at Morgan Stanley. They expect India's gross domestic product growth to average 7 per cent during this period - the strongest among the largest economies - and contributing 28 per cent and 22 per cent to Asian and global growth, respectively. The Indian economy, they said, is set for its best run in over a decade as pent-up demand is unleashed.
Markets end in green with auto, banks on a steady climb.
.jpg)
President Pranab Mukherjee has sought to counter criticism against the economic stimulus provided when he was the Finance Minister in 2009 and maintained that economy under him registered high growth rates.
HDFC was the leading gainer among Sensex stocks on Thursday, rising by 1.65 per cent, followed by Sun Pharma, ICICI Bank, Asian Paints, Titan and Infosys. TCS was the biggest loser, shedding 1.33 per cent. Ultratech Cement, Bharti Airtel, Kotak Bank and Tech Mahindra were among the other major laggards.
Indian economist Kalpana Kochhar, who heads the Human Resources Department of the International Monetary Fund, is leaving the organisation to join the Bill and Melinda Gates Foundation, the IMF announced on Wednesday. Kochhar, who served in various senior positions during her three decades at the IMF, will retire on July 30, it said.
The zones, says Panagariya, would have to be set up near deep-draft ports, capable of accommodating very large and heavily loaded ships
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
Panagariya has advocated a more liberalised spending, arguing that greater capital expenditure could relax some of the infrastructure bottlenecks facing the country.
Chinese President Xi Jinping has suggested five thrust areas to improve relations with India. It is likely all these issues, in addition to the points raised by Xi at Fortaleza, will be part of the joint declaration at the end of his visit to India, says Srikanth Kondapalli.
PowerGrid was the top gainer in the Sensex pack, rallying over 6 per cent, followed by Maruti, ICICI Bank, HDFC, Kotak Bank, Axis Bank, and Reliance Industries.
The Congress hit back saying the PM could not mislead the people by 'lying' as he had been 'exposed'.
Among major Sensex movers, Ultratech Cement rose over 4 per cent, Bajaj Finance by 2.63 per cent and Maruti by 2 per cent. BSE Sensex closed up by 133.14 points at a record high of 47,746.22. NSE Nifty rose by 49.35 points at its lifetime high of 13,981.95.
These figures are based on purchasing power parity of 2005.
US rate hike fear keeps Asian firms in check; India most upbeat.
Exporters are readying back-up routes to send their shipments to the nations belonging to the Commonwealth of Independent States (CIS), including Russia, as the war in Ukraine continues to intensify. Three routes are being explored. The first is the China route using Qingdao port. The second is the International North-South Transport Corridor (INSTC) route that connects Mumbai to Moscow via Iran and Azerbaijan.
New Delhi has reached out to neighbours like seldom before while singling Islamabad for criticism at international forums.
A global failure to respond to climate changes could result in about 8.7 per cent economic loss in India's Gross Domestic Product (GDP) by 2100, Asian Development Bank said.
Uttar Pradesh chief minister Akhilesh Yadav has written as many as 80 letter to the PM since he took as the reins of the state three years ago.
No one in Bihar will deny Nitish Kumar's contribution to governance, notes Aditi Phadnis.
Oil Minister M Veerappa Moily reviewed the progress on the ambitious 1,680-km project with Turkmenistan Minister for Oil and Gas Mukhammetnur Khalylov, who is in New Delhi to attend the eighth Asia Gas Partnership Summit.
Nearly 150 companies visited the campus this year.
Rate-sensitive sectors like banks, realty and auto witnessed heavy selling pressure ahead of the RBI Monetary policy which is scheduled on September 29.
