Among the Sensex constituents, as many as 16 stocks closed with losses with Nestle India, Kotak Mahindra Bank, IndusInd Bank, Bajaj Finserve, Titan and JSW Steel being the major laggards. Index major Reliance, Hindustan Unilever, Maruti and Tata Steel also declined due to selling pressure. In contrast, NTPC, TCS, Tech Mahindra, Bajaj Finance bucked the trend and ended the day in green. Axis Bank, Bharti Airtel, Mahindra & Mahindra and Tata Motors also defied the trend.
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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.
The Survey is authored by Chief Economic Advisor V Anantha Nageswaran and his team.
With the absence of any major immediate domestic trigger in sight, investors would focus on global trends and trading activity of foreign investors for further cues in a holiday-shortened week ahead, analysts said. Movement of global oil benchmark Brent crude and rupee-dollar trend would also guide the market. "This week is a truncated one with no major triggers expected. However, we anticipate sector-specific movements amid budget-related buzz.
Gold prices have been on an uptrend in the last few months, rising nearly 28 per cent to $2387 per ounce now. This rise in gold price, according to Christopher Wood, global head of equity strategy at Jefferies, is attributed to the demand from China amid lack of investor euphoria as regards the yellow metal. "Recent developments show a distinct lack of investor euphoria as regards gold, the question remains what is driving the current rally.
Jaishankar said the last few years have been a "period of serious challenge", both for the relationship and for the prospects of Asia, noting that continuation of the current impasse will not benefit either India or China.
India SME Forum, an organisation for small and medium businesses, has called for creating a dedicated fund of Rs 5000 crore for the export capacity development, promotion, and marketing of Micro, Small & Medium Enterprises (MSMEs) in its Budget recommendation. The forum for MSMEs with over 98,000 members said that to enhance India's global competitiveness and increase its market share in global exports, it was "crucial to increase the number of active exporters and enable at least 3-4 lakh first-time micro, small, and medium exporters while supporting them in promoting Indian products globally."
'India represents one of the top opportunities with robust growth, solid fundamentals, and openness to foreign investment.'
Premier Li, replying to a question on China's refusal to criticise Russia's military action against Ukraine, said that utmost efforts should be made to support Russia and Ukraine in carrying forward ceasefire negotiations.
'India and China are already in a warlike situation.'
China plans to build a new highway along the Line of Actual Control (LAC) with India as part of Beijing's efforts to strengthen its strategic position and project its power, a media report said on Wednesday.
A delegation of high-level executives from US public pension funds (non-profit and government sectors) is visiting India next week to assess and familiarise themselves with the investment opportunities in the country. These executives belong to various American states and cumulatively represent $1.8 trillion in assets under management (AUM) invested across the US and global markets. The United States (US) mission to India, which includes its embassy and consulates and the Department of Treasury, along with India's Ministry of Finance and the National Investment and Infrastructure Fund (NIIF), is hosting the delegation.
India will catch up with China's growth at 7 per cent during 2016-17, the World Bank has forecast, saying India's economy has recovered in the wake of the economic reform measures taken by the new Indian government, falling oil prices and lower interest rates.
The government on Tuesday announced setting up of hubs to promote exports through e-commerce medium in public-private-partnership (PPP) mode and initially 10-15 hubs will be established. Finance Minister Nirmala Sitharaman said that these hubs, under a seamless regulatory and logistic framework, will facilitate trade and export-related services under one roof. "To enable MSMEs (micro, small and medium enterprises) and traditional artisans to sell their products in international markets, e-commerce export hubs will be set up in PPP mode," she said.
India and China failed to make any breakthrough, but agreed to maintain dialogue to arrive at a mutually acceptable resolution at the earliest.
Silver, which is currently trading at Rs 68,453 per kilogram, has appreciated 21.7 per cent over the past three months. Investors, however, shouldn't get carried away by its recent performance and put their money in it. Instead, they should evaluate its pros and cons and then take a considered decision based on their risk appetite.
A report prepared by World Bank in coordination with Chinese experts said China has reached a 'turning point' in development but it could still emerge as the world's largest economy before 2030 if it carried structural reforms.
Aiming at about Rs 1,60,000 crore business this fiscal, Canara Bank will soon upgrade its Hong Kong subsidiary into a branch and open representative offices in China and Dubai.
Gen Pande also said that Indian troops are adequately deployed along the Line of Actual Control to deal with any situation and that guidance has been given to them to "remain firm and resolute" in their tasks.
'This was Indian land the PLA advanced on and occupied.' 'The Chinese then 'negotiated' a pullback of their troops a small distance on Indian territory even as Indian jawans draw back further into India from the forward position.' 'An apparently satisfied Indian government says this is a great move for peace! How great is that for China!'
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
Chief of Army Staff Gen Manoj Pande has carried out a comprehensive review of India's military preparedness along the Line of Actual Control (LAC) in Arunachal Pradesh in his first visit to the border state after last month's clash between Indian and Chinese forces in the Tawang sector.
An interview with Zhan Xiangyang, director general of the world's third largest bank, with a market capitalisation of $183.85 billion.
State Bank of India was the biggest gainer in the Sensex pack, rising 4.24 per cent, followed by Tata Steel, Axis Bank, Maruti, NTPC, PowerGrid, ITC and Nestle India. Reliance jumped 1.15 per cent to end at Rs 2,962.60 apiece on BSE.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
Military experts said the aim of constructing the bridge in the Khurnak area could be to ensure that the Chinese People's Liberation Army is able to quickly mobilise its troops in the region.
At least five Chinese nationals were among the six persons killed on Tuesday when an explosive-packed vehicle rammed into their bus in Pakistan's troubled northwestern province of Khyber-Pakhtunkhwa, officials said.
The syndicate used "stooge" bank accounts and shell companies to transfer the largest amount linked to a single case recorded in the city, the Customs and Excise Department of Hong Kong said.
'The two sides should support rather than undermine each other, strengthen cooperation rather than guard against each other, and enhance mutual trust rather than be suspicious of each other'
On Monday China said it has "effectively managed and controlled" frictions in certain border areas.
Stock markets would take cues from the biggest event of the week -- the US Fed interest rate decision, besides tracking the trends in global markets and trading activity of foreign investors, analysts said. Last week, a heavy decline in smallcap, midcap firms, foreign fund outflows and elevated crude oil prices in the international market dented investors' sentiments. Experts said equity markets may remain volatile in the near-term amid a host of global central bank's monetary policy decisions lined up during the week.
China said on Tuesday that the current situation on the border areas with India was "stable" as it confirmed that the 14th round of Corps Commander-level talks to discuss the disengagement process in the remaining friction points in eastern Ladakh will be held on Wednesday.
The Tamil Nadu government is set to unveil a housing initiative for 18,720 women employed by Taiwanese tech giant Foxconn, a key supplier to iPhone-maker Apple, this Saturday. The project, located at Vallam Vadagal near Chennai, marks the first time an Indian state government has constructed a hostel of this scale for a private firm - a model that's been successful in China and Vietnam.
Over the years, India has enjoyed bipartisan support in the US and this asset must be kept intact and nurtured through across the board political and civil society engagement, suggests former foreign secretary Shyam Saran.
The sources said the soldier was handed back to China at the Chushul-Moldo border point in eastern Ladakh at 10.10 am.
India and China on Friday held 'in-depth' discussions on addressing the remaining issues along the Line of Actual Control (LAC) in eastern Ladakh, holding that disengagement in the North and South banks of Pangong lake provided a good basis to work towards their early resolution.
The United States won a 67-66 thriller over France in the women's basketball final on Sunday, claiming an historic eighth consecutive Olympic crown while denying the hosts the golden finish to the Paris Games that had seemed within their grasp.
China said it has suspended the project due to security concerns from a third party.
The army shared pictures of tanks and convoys of light armored vehicles moving with soldiers and equipment towards the rear areas as part of the disengagement process. Large number of Chinese tanks can be seen moving away from the south bank of the Pangong Tso.
