Indirect tax revenues rose marginally by 5.6 per cent in the April-October period to over Rs 2.85 lakh crore, mainly on account of increase in service tax and customs collections.
Sentiment took a dramatic change particularly in the last one hour of trading with the lower opening of the European markets and investors booking profits in broader markets at record levels
The headline seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) fell to a two-year low of 50.6 in October from 51.4 in September.
Mutual funds (MFs) are investing in more stocks despite the recent volatility. The industry invested in 824 companies across the listed universe as of October, according to primemfdatabase.com. The S&P BSE Sensex hit its all-time high of 62,245 that month. The index has since corrected to 57,864, around 7 per cent below the peak.
A government panel examined the records of employees surveyed by Labour Bureau's quarterly enterprises surveys and mapped it with the EPFO's subscribers and found "unexplained variations" between the two.
The breadth, indicating the overall health of the market, was slightly positive
Top losers include Hero MotoCorp, HDFC, SBI, Infosys, HCL Tech, ICICI Bank, Bajaj Finance, ONGC, Bajaj Auto and IndusInd Bank, falling up to 2.63 per cent.
Loans, cash credits, and overdrafts at the end of December 22, 2017, stood at Rs 81,287.32 billion, against Rs 73,340 billion in the year-ago period.
It is difficult to reconcile the GDP numbers with other economic indicators.
According to a commerce and industry ministry statement, the growth rate for these eight key sectors for April 2019 has been revised upward to 6.3 per cent from 2.6 per cent reported earlier mainly due to upward revisions in production of coal, crude oil, steel, cement and electricity.
India's factory output climbed 22.4 per cent in March, benefiting from the base effect of the lockdown-marred month a year back as well as a turnaround in the manufacturing sector, while retail inflation slipped to a three-month low of 4.29 per cent in April. The high positive annual growth in the index of industrial production (IIP) in March 2021 came on back of a contraction of (-)0.9 per cent and (-)3.4 per cent in January and February 2021 respectively, according to the data released by the National Statistical Office (NSO) on Wednesday. This turnaround was led by recovery in the mining, manufacturing and electricity sectors.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
Reflecting a loss of "growth momentum", manufacturing activities in the country slowed down to a six-month low in March amid softer increases in new orders, production and employment, according to a survey.
The NCEAR has indicated some improvement in the fourth quarter of the current financial year.
According to the Indian Fireworks' Manufacturers' Association, the ban would wipe out sales of around Rs 600 crore during the upcoming Deepavali season.
Onion prices, however, continued to rule high with 79.78 per cent increase in September.
The global semiconductor shortage is turning into a headache for automotive (auto) and appliance manufacturers. But it is proving to be a boon for equity investors. Semiconductor stocks are among the best performers this year. The PHLX Semiconductor Index has gained more than 35 per cent year-to-date.
NTPC was the top gainer in the Sensex pack, jumping over 7 per cent, followed by Bharti Airtel, Titan, HCL Tech, SBI, PowerGrid, TCS and IndusInd Bank. NSE Nifty climbed 139.45 points to its new closing high of 17,519.45.
As India looks to mend its Covid-battered economy, one thing that will grab the attention of all concerned is the path that both wholesale and retail inflation will follow. Even the Reserve Bank of India in its latest policy statement said, "Going forward, the inflation trajectory is likely to be shaped by uncertainties impinging on the upside and the downside.
The wholesale price-based inflation accelerated to a record high of 12.94 per cent in May, on rising prices of crude oil and manufactured goods. Low base effect also contributed to the spike in WPI inflation in May 2021. In May 2020, WPI inflation was at (-) 3.37 per cent. This is the fifth straight month of uptick seen in the wholesale price index (WPI)-based inflation. In April, 2021, WPI inflation hit double digit at 10.49 per cent. "The annual rate of inflation, based on monthly WPI, was 12.94 per cent for the month of May, 2021 (over May, 2020) as compared to (-) 3.37 per cent in May 2020.
For manufactured products, the wholesale inflation was at (-)0.84 per cent in October 2019.
The broader NSE Nifty struggled before ending well above the 10,500-mark.
In February last year, it was (-)2.17 per cent.
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The marginal improvement in the index of industrial production was mainly on account of higher power generation and mining sector output, while manufacturing declined.
Eight infrastructure industries have posted a growth rate of 8 per cent for September on account of good performance by crude oil, steel and electricity sectors.
Asian markets were trading mixed with shares in China witnessing profit taking after sharp gains in the previous session.
Raghuram Rajan, who was Chief Economic Advisor in the Finance Ministry before taking over as RBI Governor on September 4, is scheduled to announce the next mid-quarter policy review on December 18.
Bombay Stock Exchange Sensex closed 30 points lower at 21,140 levels.
IndusInd Bank was the top gainer in the Sensex pack, zooming over 12 per cent, followed by Bajaj Finance, Axis Bank, ICICI Bank, Tech Mahindra, Bajaj Finserv and Kotak Bank. On the other hand, ITC, NTPC, Titan, Reliance Industries and ONGC were the laggards.
The market players are expected to react to the better than expected factory output data for the month of August, which revealed that the industrial production grew by 6.4%.
Such a high level of WPI was last recorded in October 2012, when inflation was 7.4 per cent.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Subramanian's paper comes at a time when concerns have been raised in various quarters about the official economic growth numbers. The Economic Advisory Council-PM said the Base Year of India's income calculations were shifted to 2011-12 on the basis of recommendations of several committees with experts in national income accounting.
Only power generation grew faster in 2014 than in earlier years.
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.
Oil, banks eneded the day in green while few in auto sector lost heavily.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
What has hit sentiment further is a draft proposal by the government to increase vehicle insurance premiums for financial year 2022-23 (FY23). Third-party motor insurance premiums have not been increased over the last two years and if this is approved, insurance costs for specific segments could rise by a fifth. The worst impacted is the 350cc and above two-wheeler segment, where premiums are up 21 per cent. Royal Enfield (Eicher Motor) is the market leader in the segment. The premiums in the 150-350cc two-wheeler category are also being inc
'When growth drops precipitously from 7% to 4.5% in four quarters, it is for all practical purposes a recession' notes T N Ninan.
India Inc said policymakers should take doable steps to revive fixed investments and production of capital goods
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