Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
The RBI on Friday retained inflation forecast for FY23 at 6.7 per cent amid uncertain price trajectory on "geopolitical shocks" and on hope that inflationary pressures would ease with pick-up in kharif sowing and supply chain improvements. In its previous monetary policy review in June, it had projected retail inflation for 2022-23 at 6.7 per cent, higher from 5.7 per cent forecast in April. The six-member Monetary Policy Committee (MPC) unanimously decided to raise the benchmark repo rate by a steep 50 basis points to 5.40 per cent with immediate effect to tame inflation while supporting growth.
It is also likely to assume a deflator of around 4 per cent. That could take the nominal GDP outlook for FY21 to around 10 per cent. It is this nominal GDP forecast on the basis of which the finance ministry is calculating key Budget targets like the fiscal deficit as a percentage of GDP and tax revenue growth for the coming year.
It has mostly been a one-way street for markets that have moved up sharply since July. The front-line indices - the S&P BSE Sensex and the Nifty50 - have gained 6.7 per cent and 7.3 per cent, respectively, in the past three months. The rally in mid- and small-caps has been sharper, with both indices surging 14 per cent and 9 per cent, respectively, during this period. This sharp run has made analysts at Jefferies cautious.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
Wimbledon debutant Eubanks ends Tsitsipas's challenge in fourth round.
Gautam Adani was the world's third and Asia's richest man a month back but a damning report by a US firm triggered a massive sell-off in shares of his apples-to-airport group, plunging his own wealth by $80 billion and the tycoon slipping to No.30 on the world billionaire index. Adani's sprawling conglomerate, which spans from sea ports to airports, edible oil and commodities, energy, cement and data centres, is under attack by US short-seller Hindenburg Research, which successfully deflated electric-vehicle maker Nikola Motors in 2020. Hindenburg, which held short positions in unidentified shares of Adani Group firms through its US-traded debt and offshore derivatives, on January 24 accused the conglomerate of "brazen stock manipulation and accounting fraud" and using a number of offshore shell companies to inflate stock prices.
The employment situation remains dire. Whatever can be done to promote greater low-skill employment should be pursued aggressively, advises former chief economic adviser Shankar Acharya.
Inflation in food articles was at 0.87 per cent in April 2018, as against a deflation of 0.29 per cent in the preceding month.
'England will be a challenging side for us. I am sure these (boys) who have been here for a while, played a handful of games against Ireland and a few practice games as well, will be looking forward to this T20 series.'
Four persons, including a forest guard, were killed in violence at the Assam-Meghalaya border in West Karbi Anglong district in the early hours of Tuesday after a truck transporting illegal timber was intercepted, officials said.
IMAGES from Day 1 of all the action from the Wimbledon Championships played at the All England Lawn Tennis and Croquet Club, London, on Monday.
Who do you think should be part of India's playing XI for the final ODI against South Africa?
Cristiano Ronaldo continued his record-breaking form for Portugal as he grabbed two more goals in his country's 6-0 thrashing of Luxembourg in a Euro 2024 qualifier on Sunday.
Their play-off hopes dashed, both Sunrisers Hyderabad and Punjab Kings will be keen to end IPL 2022 on a winning note when the two teams clash in a dead rubber in Mumbai on Sunday.
An Air India spokesperson said the plane landed at an "uncommissioned runway" and that all passengers are safe.
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
Inflation in the 'fuel and power' basket in December slumped to 8.38 per cent, nearly half of 16.28 per cent.
Despite the US government having low interest rates and printing a lot of money in the hope that people will spend it and revive the economy, that is clearly not happening.
Delhi Capitals showed remarkable resilience to overcome the COVID-19 crisis in their camp and hand Punjab Kings a nine-wicket thrashing in the Indian Premier League match at the Brabourne Stadium in Mumbai on Wednesday.
Reserve Bank Governor Raghuram Rajan on Monday slammed International Monetary Fund for staying on the sidelines and applauding accommodative policies of developed nations.
Ashish Narsale/Rediff.com looks at some of the most interesting heath products presented at the latest edition of the Consumer Electronics Show.
The untimely Mumbai monsoon threatens to play spoilsport as there is a fair chance of first day's play being affected by rain during the second Test between India and New Zealand, starting on Friday.
A summary of Thursday's action in the Ranji Trophy group stage matches.
As per commerce and industry ministry data, food inflation fell to 4.91 per cent in March from 7.79 per cent in the previous month.
Manchester City needed a second-half penalty from striker Erling Haaland to break the resistance of a dogged Crystal Palace.
The four-wicket defeat against Kolkata Knight Riders in the IPL Eliminator match on Monday ended Virat Kohli's tenure as the Royal Challengers Bangalore's skipper but he said he will continue to play for the franchise till the end of his career.
The Consumer Price Index (CPI)-based inflation is now projected to be at 5.3 per cent for 2021-22 with risks evenly balanced. In its August policy, the central bank had estimated inflation to be at 5.7 per cent due to supply side constraints, high crude oil and raw materials cost.
'It's been ultimately a really great race between two different teams and it ends with a bit of a ... negative. It does kind of feel like a deflated win'
Rajasthan Royals all-rounder Shivam Dube, who hit a match-winning unbeaten 64 against Chennai Super Kings in his first match of the Indian Premier League's UAE leg, said Saturday's knock in Abu Dhabi was "much-needed" not only for him but also for his team.
It is for the investigating agencies to probe all aspects of the assassination, including a possible Chinese hand, or if the killer was just a disgruntled element who acted on his own and wanted to earn some dark space in history like Nathuram Godse or Lee Harvey Oswald, notes Japan expert Rajaram Panda.
Joe Root and Jonny Bairstow slammed majestic centuries as England pulled off their highest-ever successful run chase in the longest format for a convincing seven-wicket win over India in the rescheduled fifth Test in Birmingham on Tuesday.
Arsenal's inability to kill off the contest will be a frustration as that has been a hallmark of their recent form. They had won their previous 18 Premier League matches in which they scored first.
Openers Shikhar Dhawan and Prithvi Shaw hit quickfire fifties as they put on a decisive opening stand of 138 runs from just 81 balls, completely exposing the lack of depth in the CSK bowling.
India endured a second successive disappointing result at the Australian Open with Rohan Bopanna and Ben McLachlan bowing out after a first-round defeat to Ji Sung Nam and Min-Kyu Song in the men's doubles event, in Melbourne.
IMAGES from the IPL 2022 game between Lucknow Super Giants and Kolkata Knight Riders in Pune on Saturday.
'We know what we need to focus on and we take a collective decision as a group. Everyone is happy with the win. It gives us more motivation to win the next Test. We have the belief, we are just looking forward to the opportunities. The fans have been amazing as well'
Retail inflation during the first month of the current fiscal stood at 2.9 per cent, down from 4.6 per cent a year ago. Food inflation based on Consumer Food Price Index declined to a low of 0.1 per cent during the financial year 2018-19, the survey said.
But lower growth numbers in the quarters to come may not mean renewed weakness in the economy at the ground level, says Pranjul Bhandari.
