'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
The IL&FS management is also talking to its second-largest shareholder, Orix Corporation of Japan, to infuse more funds into the company - in case any shareholder backs out during the rights issue.
HDFC, HDFC Bank, Reliance Industries and Infosys fell up to 2.20 per cent, dragging the indices deep into the red.
Yoga guru Baba Ramdev's Patanjali Ayurved on Wednesday made its first big acquisition when it paid Rs 4,350 crore to take over soya food brand Nutrela-maker Ruchi Soya through an insolvency process. The acquisition will help Patanjali acquire edible oil plants as also soyabean oil brands such as Mahakosh and Ruchi Gold.
However, survey by Japanese firm shows India as most preferred Asian market for Japanese investors.
Addressing a G20 Summit session, Modi also presented his '5-I' vision to maximise digital technology for social benefit.
Takao replaced Haruhiko Kuroda, who had, in March, quit ADB to take charge as Japan's central bank governor.
While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, observes T N Ninan.
India lost around 38.5 thousand hectares of tropical forest in the last decade. Nearly 14 per cent of the country's tree cover! It is one thing for Modi to announce that India will reach a net-zero level of emissions in 2070. But if it is serious, it needs to start today, points out Ramesh Menon.
Tata Steel was the biggest gainer in the Sensex pack, rising 3.36 per cent, followed by Vedanta, Bajaj Finance, TCS, IndusInd Bank, Infosys, ONGC, Kotak Bank, HDFC Bank, HDFC, M&M and ITC.
The pitch comes close on the heels of China launching its multi-billion dollar OBOR initiative
The official told the reporters during a conference call on Friday, ahead of the next week's 2+2 India-US Ministerial in New Delhi, that the Trump administration was providing support to India through defence sales, joint military exercises and information sharing.
IndusInd Bank was down nearly 1% even after it reported a 21% rise in its fourth-quarter profit
Top gainers of the session included Bajaj Auto, Kotak Bank, M&M, Vedanta, IndusInd Bank, Asian Paints, HDFC Bank, Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, rallying up to 5 per cent.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent. Sun Pharma was the biggest loser, cracking 5.78 per cent.
External Affairs Minister S Jaishankar said on Friday that India and China are going through a 'particularly bad patch' in their ties because Beijing has taken a set of actions in violation of agreements for which it still doesn't have a 'credible explanation' and it is for the Chinese leadership to answer where they want to take the bilateral relationship.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
The dollar gained strength with the emergence of the US as the only developed economy showing signs of recovery.
Sectorally, metal and banking stocks rallied the most, while FMCG and realty stocks came under selling pressure.
There were more than three losers against every gainer on BSE
According to the data available on the Reserve Bank of India's website, net workers' remittances in April-June 2018 were $11.5 billion
All sectoral indices on the BSE and NSE ended in the red, led by realty, banking, metal, pharma, pharma and financial stocks.
According to a new report by international management consulting firm Arthur D Little, the worst of COVID-19's impact will be felt by India's most vulnerable in terms of job loss, poverty increase and reduced per-capita income, which in turn will result in a steep decline in the Gross Domestic Product (GDP). "Given the continued rise of COVID-19 cases, we believe that a W-shaped recovery is the most likely scenario for India. This implies a GDP contraction of 10.8 per cent in FY 2020-21 and GDP growth of 0.8 per cent in FY 2021-22," the report said.
Takahide Kiuchi, Senior Economist, Nomura Securities believes that Bank of Japan is likely to take a 'wait and watch' stance on rates.
Hydrography (underwater geography) prevents the Indian Navy for opting for an all-conventional, or all-nuclear submarine fleet.
At 12:25 PM, the barometer index, the S&P BSE Sensex was down 358 points or 1.3% at 26,368.
The index widened its loss towards the fag-end on emergence of intense selling in heavyweights like ITC, RIL and ICICI Bank. In percentage terms, however, Sun Pharma was the biggest loser with 9.39 per cent drop. Intra-day, the pharma major's shares tanked over 20 per cent.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
Sectors such as Auto, Banks, Capital Goods, FMCG, Metal, Oil & Gas and Power are trading marginally lower.
BSE IT index was the biggest sectoral loser, down 1.5% dragged by TCS
The rupee has lost ground since pre-Budget, against three major hard currencies (yen, dollar and euro). The European Central Bank and the Bank of Japan maintained status quo in recent policy meetings
On the BSE, 1,650 shares declined and 1,188 shares rose
'The Indian economy is in slowdown and growth may stay slow,' notes Devangshu Datta.
In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each
Top gainers in the Sensex pack included Tata Motors, Bajaj Auto, HDFC twins, IndusInd Bank and RIL, rallying up to 3.23 per cent.
A common factor that binds all these men is greed.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
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