Among the Sensex firms, ICICI Bank and SBI led the index with the maximum gains of 4.68 per cent and 3.99 per cent, respectively. Other major gainers were Larsen & Toubro, Kotak Mahindra Bank and HDFC Bank. On the other hand, Wipro and Tata Motors defied the trend and traded in negative.
From the landing of Chandrayaan 3 to the bombardment of Palestine by Israel, a look at some events that shaped the world in the second half of 2023.
The dedication of Indian soldiers and veterans towards the country is an 'exemplary example', Defence Minister Rajnath Singh said on Sunday soon after arriving in Ladakh on a three-day visit aimed at taking stock of India's military preparedness in the region in the face of a prolonged border row with China.
A new era of Indian equity market outperformance compared to China "appears to be dawning", according to Morgan Stanley. The firm has upgraded India to overweight in its Asia Pacific-excluding Japan (APxJ) list, making it their most preferred market not only in the region but also in the global emerging market (GEM) pack. India now holds the top position in this category, with an overweight of 75 basis points, a significant increase from nil previously.
India must break out of this strategic triangulation between China and Pakistan. We need to settle our issues with one of the two, notes Shekhar Gupta.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
Capital expenditure by Indian companies is likely to see an uptick in the upcoming quarters as capacity utilisation has surpassed the critical threshold of 75 per cent, and numerous companies have deleveraged their balance sheets, according to analysts. The first quarter of the current financial year has shown improved profitability, driven by a decrease in input prices. This, according to analysts at Care Ratings, should stimulate a revival in the private capex cycle.
Foreign portfolio investors' (FPIs') net investments in the domestic debt market surged in December, marking a 77-month high, that is, since July 2017. According to market participants, this significant uptick in FPI inflows can be attributed to the post-domestic policy outcome and the US Federal Reserve's dovish stance at the December policy. FPI inflows into debt stood at Rs 18,393 crore in December against Rs 14,106 crore in November, according to data on the National Securities Depository Limited.
The government on Friday approved an electric-vehicle policy, under which duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of $500 million, a move aimed at attracting major global players like US-based Tesla. According to an official statement, the companies setting up manufacturing facilities for e-vehicles will be allowed to import a limited number of cars at lower customs duty. The policy seeks to promote India as a manufacturing destination for EVs and attract investment from reputed global EV manufacturers, it added.
The economy may grow by around 7 per cent this financial year as estimated by the Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI), say economists with various organisations. The first advance estimates for 2023-24 will be released on Friday by the National Statistical Organisation (NSO), an exercise done for calculating ratios such as the fiscal deficit. The interim Budget will be presented on February 1.
'From where I started, I was pretty proud of myself to be able to give myself another chance to be here, to qualify and play a second round. It's a good feeling.'
'COVID-19 will not stop the expansion of China's 'infrastructure power'.'
Singh, in his address to the Indian-American community in San Francisco, also sent a subtle message to the United States that New Delhi does not believe in a diplomacy of 'zero-sum game' and its relationship with one country cannot be at the expense of the other.
According to sources, the post at which the Chinese army has put up loudspeakers is under 24x7 constant watch by Indian soldiers and it is possible that the Chinese might be indulging in such drama to distract our troops or perhaps just relieve the pressure.
This is the first time that the defence ministry has admitted officially about the transgressions by the Chinese troops.
India has told China not to "shift goalposts" and "confuse" managing the border affairs and restoring peace at the frontiers with the larger issue of the resolution of the boundary question, which is dealt with by different designated mechanisms.
The US president, who has expressed disappointment over China's handling of the COVID-19 pandemic, claimed that it was the "incompetence" of Beijing that led to the mass killing across the globe.
Allahabad Bank on Monday opened its first overseas office in Shenzhen, a Chinese city near Hong Kong, hoping to tap trade and commercial linkages between the two Asian giants.
Top losers in the Sensex pack included IndusInd Bank, Bharti Airtel, Tata Motors, Axis Bank, Kotak Bank, Bajaj Auto, Yes Bank, HCL Tech, HUL and Hero MotoCorp, falling up to 4.36 per cent.
Singh also said that India will give a befitting reply to anyone threatening its unity, sovereignty and territorial integrity as it no longer remained a "weak" country.
The decisions were mentioned in a joint statement issued by the two armies late Tuesday, a day after the sixth round of Sino-India Corps commander-level talks that lasted for 14-hours.
Among the Sensex firms, Adani Enterprises and Adani Ports sustained their gaining momentum and traded higher by 4.40 per cent and 4.37 per cent, respectively. BPCL, Axis Bank, Mahindra & Mahindra and SBI were the other major gainers. On the other hand, HCL Tech, Infosys and Bajaj Auto traded in the negative zone with a loss of up to 1.54 per cent.
India and China on Friday are holding another round of high-level military dialogue to resolve the 22-month-long standoff in some friction points in eastern Ladakh, two months after the last round of such talks failed to yield any significant outcome.
We understand the electoral compulsions, the desperate need for the BJP to have at least 50 per cent of the Hindus vote for them in Uttar Pradesh in a few months. For that, you need polarisation, put your own Muslim compatriots on the 'other' side. This is how your domestic politics runs contrary to your national, strategic interest, warns Shekhar Gupta.
The border standoff between the Indian and Chinese militaries erupted on May 5 last year following a violent clash in the Pangong lake area and both sides gradually enhanced their deployment by rushing in tens of thousands of soldiers as well as heavy weaponry.
As the border standoff entered the sixth month, an early resolution to the row appeared dim with close to 100,000 Indian and Chinese troops remaining deployed in the high-altitude region and showing readiness for a long-haul. There is no official word on the talks yet but sources said the agenda was to finalise a roadmap for disengagement of troops from all the friction points.
'Many countries believe that if they join BRICS, they will be seen as emerging countries and their stature will be enhanced.' 'G-20 still has common action plans while BRICS does not do that much.'
The army made the comments as part of a statement trashing a media report that said the Chinese military has again crossed the Line of Actual Control in eastern Ladakh at several places and that there has been at least one incident of clash between the two sides.
Defence Minister Rajnath Singh on Sunday claimed that Prime Minister Narendra Modi has been receiving invitations for functions scheduled much after the Lok Sabha polls, which showed the 'entire world believes his return to power is inevitable'.
A feature of this year's BRICS summit was economic cooperation.
'China is unwilling to restore the status quo ante of April 2020.' 'India will have to weigh its options based on this premise.'
Russia proceeds "from the postulate, a negotiated solution to the Palestinian-Israeli conflict has no alternatives," said Putin while speaking at the Commonwealth of Independent States summit in Bishkek, Kyrgystan on Friday.
There is a sense of relief in Beijing that Modi will be at the helm of affairs in Delhi at a critical juncture in the geopolitics of the region, says Ambassador M K Bhadrakumar.
'We have to up our vigil everywhere, all along the LAC -- winter, summer or spring.'
'Significantly, Foreign Secretary Gokhale was received at very high level in Beijing.' 'It only shows China's keenness to move forward and put the relationship on a 'win-win' footing,' says Ambassador M K Bhadrakumar.
After a gap of over two-and-half months, India and China on Sunday held the ninth round of military talks specifically focusing on ways to move forward on the long-negotiated disengagement process in eastern Ladakh as thousands of their troops remained deployed at friction points under freezing conditions.
The 11th round of the Corps Commander-level talks began at around 10.30 am at the Chushul border point on the Indian side of the Line of Actual Control (LAC) in eastern Ladakh, they said.
The US Federal Reserve's interest rate decision, global cues, macroeconomic data announcements and the ongoing quarterly earnings are the major triggers that will dictate trends in stock markets this week, analysts said. Besides, the trading activity of foreign investors and the movement of global oil benchmark Brent crude will also be tracked. "All eyes are on the outcome of the US Federal Reserve meeting scheduled for November 1, particularly due to the multi-year high levels of the US bond yields.
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
