RBI may also be open to injecting liquidity through open market purchases of bonds but is resisting relaxing capital buffers for banks.
Equity indices slipped in the negative territory on Wednesday after a two-day breather, with the BSE Sensex tumbling 709.54 points following weak trends in global markets. Unabated foreign fund outflows also played spoilsport for the bourses. The 30-share BSE Sensex tanked 709.54 points or 1.35 per cent to settle at 51,822.53. During the day, it declined 792.09 points or 1.50 per cent to 51,739.98.
India is facing no risk of recession or stagflation as macroeconomic fundamentals of the economy are strong, Finance Minister Nirmala Sitharaman said on Monday. Replying to a debate on price rise in the Lok Sabha, she said the GST collection and Purchasing Managers' Index (PMI) are indicating that the Indian economy is getting more robust. The GST collection rose 28 per cent to touch the second-highest level of Rs 1.49 lakh crore in July. GST, introduced in July 2017, touched a record high of Rs 1.68 lakh crore in April 2022.
India's GDP expanded 13.5 per cent in the April-June quarter, the quickest pace in a year, to retain the world's fastest growing economy tag but rising interest costs and the looming threat of a recession in major world economies could slow the momentum in the coming quarters.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
September 13 is the last date to apply for the Common Admission Test 2023. I always recommend to do the registration early on.
Go through the form carefully and be sure about all the data that you are intending to fill in, advises Aashish Sood.
Sensex eneded 374 points higher on rate cut expectation from the RBI.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
Markets extended losses to end 1.5% down on Tuesday, amid weak global cues, after investors turned cautious ahead of key economic data and booked profits in rate sensitive shares while the further fall in the rupee continued to weigh on investor sent.
Get Ahead reader Sangeeta didn't realise how she spent an entire day on the banks of the Narmada at Maheshwar, Madhya Pradesh.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
Continuing with its uptrend, the Sensex opened with a positive gap of 147 points at 13,782. Profit-taking in early trades saw the index pare gains and slip into red to a low of 13,581.
Multi-core loan default accused and promoter of Rotomac Group 73-year-old Vikram Kothari died in a freak accident at his Kanpur residence on Tuesday morning. According to reports, the erstwhile stationery czar sustained grievous head injuries after slipping in his bathroom and later succumbed to his injuries. He was reportedly alone at his Tilak Nagar residence at the time of the incident. Vikram, also known as 'India's Pen King', was accused in a bank loan scam worth thousands of crores pertaining to Rotomac Global, which exported writing instruments overseas.
Major losers include Lupin 1.96 per cent, along with Tata Motors, Coal India and Sun Pharma.
Dunlop & Jessop head for closure & new ventures abroad yet to inspire but tycoon says he's still going strong.
Markets ended weak tracking the expiry of April derivative contracts.
The Sensex opened with a negative gap of 75 points at 15,513, and slipped to a low of 15,465 in early deals. But the Sensex finally ended with a gain of 203 points at 15,791. The NSE Nifty settled with a gain of 37 points at 4,747. HDFC Bank, BHEL, Tata Steel, ICICI Bank, Cipla and Reliance Energy, L&T, Ambuja Cements, Reliance, Hindalco and Infosys were major gainers. Maruti and Hindustan Unilever, Bharti Airtel and TCS were major losers. Orchid Chemical topped value charts.
The country's biggest bank SBI on Wednesday posted a 55 per cent rise in standalone net profit at Rs 6,504 crore for the first quarter of the current financial year, helped by decline in bad loans. The lender had reported a net profit of Rs 4,189.34 crore in the April-June quarter of 2020-21. State Bank of India's (SBI) standalone total income increased to Rs 77,347.17 crore in the first quarter of 2021-22 as against Rs 74,457.86 crore in the same period a year ago, according to regulatory filing.
Beside manufacturing, deceleration was also witnessed in sectors like agriculture, construction and electricity, gas and water supply.
The dollar index was down 0.01 per cent at 95.86 against a basket of six currencies in early trade
'These companies hired in high numbers last year and are balancing that out this year by recruiting fewer freshers.'
The overall breadth of the market was extremely negative, 1870 stocks declined, while 922 stocks advance.
IndusInd Bank was the top gainer in the Sensex pack, rallying over 4 per cent, followed by Bharti Airtel, Axis Bank, ICICI Bank, Bajaj Finance, Sun Pharma, HDFC and Kotak Bank. On the other hand, Titan, Maruti, ITC, Asian Paints, HCL Tech and Bajaj Auto were among the laggards.
The 'Impact Player' rule will be used differently by different outfits but truth be told, DC do not have enough players with X-factor in its ranks.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
Titan was the top laggard in the Sensex pack, shedding 1.39 per cent, followed by HDFC, Axis Bank, Kotak Bank, HCL Tech and Tech Mahindra. On the other hand, Asian Paints, SBI, M&M, TCS, Bajaj Finserv and ICICI Bank were among the winners, spurting as much as 3.25 per cent.
The 30-share barometer started higher, but lost its way soon after the railway budget.
The operating income of the bank fell by 5.17 per cent to Rs 25,612 crore during April-June quarter of 2017-18
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Economy still faces many challenges and 'relatively big' downward pressures such as increasing difficulties for businesses and the emergence of economic risks, the Central Economic Work Conference said.
Fear factors weights on markets, Sensex, Nifty struggle to keep pace.
The country's foreign exchange reserves declined by $2.47 billion to reach $616.895 billion in the week ended August 20, RBI data showed on Friday. In the previous week ended August 13, 2021, the reserves had declined by $2.099 billion to $619.365 billion. The forex kitty had touched a lifetime high of $621.464 billion in the week ended August 6, 2021.
With the assembly polls only two years away, in 2026, any demoralising defeat in 2024, would challenge not only the party's continued relevance but also EPS's leadership, asserts N Sathiya Moorthy.
The foreign exchange reserves fell by $502.4 million to $293.97 billion due to fall in the currency assets, according to Reserve Bank data released on Friday.
Infosys has emerged as the fastest growing IT services brand following 52 per cent brand value growth since last year and 80 per cent since 2020 to $12.8 billion, earning it third spot, the brand valuation consultancy said in its latest Global 500 IT Services Ranking report. TCS and Infosys have pushed IBM to fourth spot from second. IBM's brand value now stands at $10.6 billion, a decline of 34 per cent from last year and 50 per cent since 2020.
PowerGrid was the top loser in the Sensex pack, shedding over 1 per cent, followed by Bajaj Finserv, ICICI Bank, HDFC, NTPC, HUL and L&T. On the other hand, Infosys, Reliance Industries, Nestle India and Martui were among the gainers.
The World Bank warns that the world will see a slower growth that will require tighter and better supervision of the financial system.
An Indian family, the Pandays, spend a few days on the Nepo river.
Security forces took out flag marches at several places including Ferozepur, Bathinda, Rupnagar, Faridkot, Batala, Fazilka, Hoshiarpur, Gurdaspur, Moga and Jalandhar in a show of strength.
On October 31, Chaudhuri was arrested from his Delhi home by the Jaisalmer police for his alleged role in crippled Rs 200 crore Garh Rajwada hotel project in the city which was sold for Rs 25 crore to Alchemist ARC in March 2014. The project was financed by the bank in 2007.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
