United States President Joe Biden and his family received tens of thousands of dollars worth of gifts from foreign leaders in 2023, with the most expensive gift going to First Lady Jill Biden from Prime Minister Narendra D Modi.
'The market's sharp decline recently has shaken the confidence of retail investors, leading to increased selling.'
Trumponomics, poor growth, and high valuation certainly don't make a bullish recipe for Indian markets, warns Debashis Basu.
'Stay disciplined, and remain invested.' 'Volatile times are the best to invest in structural opportunities at the right price.'
India's forex reserves dropped by $1.99 billion to $652.87 billion for the week ended December 13, the RBI said on Friday. In the previous reporting week, the overall reserves had dropped by $3.235 billion to $654.857 billion.
US President Donald Trump signed an executive order directing the Department of Justice to pause enforcing a nearly half-century-old law that was used to launch a bribery investigation against the Adani Group. Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
Trump signed an order to pause enforcing of the 1977 Foreign Corrupt Practices Act (FCPA) that prohibits American companies and foreign firms from bribing officials of foreign governments to obtain or retain business.
The Budget should undertake further reductions in import tariffs and seriously consider an announcement of India's intention to join one or both of the two Asian mega-regional free trade agreements, suggests Shankar Acharya, former chief economic adviser to the Government of India.
India's forex reserves dropped by $3.23 billion to $654.86 billion for the week ended December 6, the RBI said on Friday. In the previous reporting week, the reserves had increased by $1.51 billion to $658.09 billion, ending a multi-week decline in the overall kitty.
India's foreign exchange reserves fell for the fourth consecutive week after reaching an all-time high last month. In the week ending October 25, the forex reserves declined by $3.46 billion to $684.80 billion, according to data released by the Reserve Bank of India (RBI) on Friday. In the three preceding weeks, reserves dropped by $3.7 billion, $10.7 billion, and $2.16 billion, respectively, the data showed.
The last time these two indexes recorded a negative performance on a calendar year basis was in CY19.
India is among the three least-favoured Asian stock markets, according to BofA Securities whose survey found that 10 per cent of fund managers are underweight on Indian equities from a 12-month perspective.
After a brutal selloff since October, foreign portfolio investor (FPI) flows for the year-to-date (YTD) in 2024 have turned negative. In early September, YTD FPI investments peaked at a record Rs 22,000 crore ($2.6 billion). This wave of selling has also pulled down benchmark indices, with the Nifty's YTD returns declining to 11 per cent from their high of 21 per cent in September.
The Budget has given signals that India is sensitive to the US needs and willing to walk the extra mile, but if need be, we should respond in equal measure as a sovereign nation, notes Ajay Srivastava.
'The choice is clear: We either embrace this transformation and cement our global leadership, or hesitate, lose ground, and fade into irrelevance.'
With the US filing civil and criminal charges against billionaire Gautam Adani and seven others over a multi-million-dollar bribery scheme, a prominent attorney here has said that the case could escalate significantly, potentially leading to arrest warrants and even extradition attempts. Adani, India's second-richest man, and seven others, including his nephew Sagar Adani, have been charged by the US Department of Justice with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion in profit over 20 years.
The extension aims to facilitate negotiations for a solution that safeguards national security and allows the app to continue operating in the United States. Trump proposed a joint venture granting the US a 50 per cent ownership stake in TikTok.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
US President Donald Trump on Thursday addressed the World Economic Forum where he offered business leaders low taxes if they manufacture their products in the US, while threatening them with tariffs if they don't. Addressing the forum's Annual Meeting in Davos through video conferencing, Trump also said he is going to ask Saudi Arabia and OPEC to bring down oil prices and asserted that if prices come down Russia-Ukraine war will end immediately.
TikTok's app effectively shut down in the US, just hours before a law banning the popular video-sharing platform was set to go into effect. The app was shut down on Saturday, displaying a message that the app "isn't available right now," but expects resolution under President-elect Trump. The Supreme Court on Friday unanimously upheld the divest-or-ban law, which gave TikTok's China-based parent company ByteDance until Sunday to divest from the app. President Trump said Saturday that he would most likely give TikTok a 90-day extension. Following Friday's Supreme Court decision, TikTok CEO Shou Zi Chew thanked the president-elect for his commitment to finding a solution to keep the app accessible in the US.
South Korean consumer electronics major Samsung, which on Wednesday launched its latest smartphone Galaxy S25 in San Jose, US, will also be manufacturing it at its Noida plant in India, J B Park, president & CEO of Samsung Southwest Asia, said. Moreover, the Bengaluru-based R&D centre of Samsung, the biggest outside South Korea, has "contributed significantly" for developing the S25 series of Galaxy AI.
Russian shipments averaged 1.67 million barrels per day in January compared to 1.48 million bpd in December and 1.53 million bpd a year earlier.
The all-time attendance record at the Melbourne Cricket Ground was smashed on Monday when the total attendance for the fourth Test touched an unprecedented 350,700.
The rupee has depreciated by 0.6 per cent so far in the current financial year.
India's forex reserves increased by $1.51 billion to $658.09 billion for the week ended November 29, the RBI said on Friday. The overall reserves had dropped by $1.31 billion to $656.58 billion in the previous reporting week.
Analysts are warning of growing risks to the market's sustained momentum, and even to the possibility of consolidation at current levels. Domestically, markets are grappling with several challenges, including a slowing economy, as indicated by the latest GDP data for the July-September (Q2) quarter of 2024-25 (FY25), sticky inflation, fluctuations in the rupee, waning consumption, and high interest rates.
Widespread use of crypto assets, including stablecoins, can have a negative impact on the macroeconomic and financial stability of a country, the Reserve Bank of India (RBI) said on Monday. In its Financial Stability Report (FSR), the banking regulator highlighted that excessive use of crypto assets can reduce effectiveness of monetary policy, worsen fiscal risks, circumvent capital flow management measures, divert resources available for financing the real economy and threaten global financial stability.
Gold price outlook 2025: Gold prices that have climbed over 30 per cent so far in 2024 to Rs 7,300 per gram in the Indian markets (up 28 per cent in dollar terms till November-end), are set for their best calendar year performance in 10 years, suggests a recent report by World Gold Council (WGC). However, this stellar run, analysts believe, may not carry through till the end of 2025 in the backdrop of economic and geopolitical headwinds.
The uncontrollable fire has so far burned over 70 sq km in three areas: Palisades, west of Los Angeles; Eaton, north of Pasadena and San Fernando Valley.
Small and midcaps are leading the charge in the latest market rebound. Since November 21, when the benchmark S&P BSE Sensex and the National Stock Exchange Nifty hit their recent lows and slipped into correction territory, the Nifty Smallcap 100 index has risen by 8 per cent, while the Nifty Midcap 100 has gained 5.7 per cent. Meanwhile, the Nifty 50 index has risen by 4.7 per cent during this period.
From the outcome of the general elections and then Union Budget to tepid corporate earnings in the September 2024 quarter (Q2-FY25), sticky inflation and Reserve Bank of India's stance on interest rates, extreme weather conditions, Indian stock markets have braved it all in calendar year 2024.
After depreciating 0.32 per cent against the dollar in October so far, the rupee is expected to hold ground against the greenback in the current quarter on the back of robust inflows. According to the median of a Business Standard poll of 10 respondents, the rupee is seen trading around 84 per dollar till the end of December. "In India's case, at least the bond and cash related inflows will continue.
Adani group stocks faced heavy drubbing during the early trade on Thursday, with Adani Energy and Adani Enterprises tumbling 20 per cent, as billionaire Gautam Adani has been charged by US prosecutors over his role in an alleged years-long scheme to pay $250 million bribe to Indian officials in exchange for favourable terms for solar power contracts. The stock of the group's flagship firm Adani Enterprises plunged 20 per cent, Adani Energy Solutions tanked 20 per cent, Adani Green Energy plummeted 19.17 per cent, Adani Total Gas tumbled 18.14 per cent, Adani Power slumped 17.79 per cent, and Adani Ports dived 15 per cent on the BSE.
India's forex reserves dropped $1.31 billion to $656.58 billion for the week ended November 22, the Reserve Bank of India (RBI) said. The kitty had dropped a record $17.76 billion to $657.89 billion in the previous reporting week ending November 15.
The Reserve Bank of India (RBI) was a net seller of the US dollar in August, reversing its net buying position from July. During the current financial year up to August, the central bank had sold a net $1.11 billion. The RBI sold a net total of $6.49 billion worth of the foreign currency in August, according to the central bank's monthly bulletin.
Travel is about making memories, experiencing the unknown, and engaging in new experiences -- not worrying about fluctuating exchange rates or hidden expenditures. With a little planning and a proactive approach to handling your foreign exchange, you can reduce financial stress and enjoy your trip, suggests Pavan Kavad.
'Modi's intention was to create goodwill that will allow India to be seen by Trump as more than just a bad tariff problem.' 'He succeeded brilliantly on that count but none of these wins are unfortunately permanent.' 'Modi will have to do this again and again if Trump's grievances are to be durably assuaged.'
From the 30 blue-chip pack, Mahindra & Mahindra, IndusInd Bank, Bajaj Finance, Tata Motors, Bajaj Finserv, Nestle and ICICI Bank were the biggest gainers. State Bank of India, Tata Steel, Adani Ports, Zomato, UltraTech Cement and HCL Tech were among the laggards.
'The President-elect firmly believes we can avoid conflict with the Chinese Communist party because they need our markets.'
Global factors and FII activity will dictate trends in domestic equity markets this week while assembly poll results of Maharashtra and Jharkhand may impact stocks on Monday, say analysts. Stock markets witnessed a spirited recovery on Friday with benchmark Sensex and Nifty notching the best single-day gains in more than five months and offering relief after weeks of correction.
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