Foreign investors offloaded Indian equities worth nearly Rs 21,000 crore in the first half of August, pressured by US-India trade tensions, lacklustre first-quarter corporate earnings, and a weakening rupee.
The Meeting of BRICS and BRICS Plus High-Level Security Officials is scheduled to be held in St Petersburg from September 10-12.
Prime Minister Narendra Modi was offered a lift by Russian President Vladimir Putin in his AURUS limousine to reach the venue of their bilateral talks on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Tianjin on Monday.
India and Russia have decided to explore signing a Comprehensive Economic Partnership Agreement that will include not only features of a foreign trade agreement but also trade in services and investment.
India's National Security Advisor Ajit Doval is expected to attend a major security meeting in Moscow next week, organized by Russia's Security Council. Doval is invited for the 13th international meeting of high representatives for security issues, taking place from May 27-29. The meeting, chaired by Sergei Shoigu, Secretary of the Security Council of the Russian Federation, will see participation from over 150 countries and international organizations. Pakistan's NSA, Lt Gen Asim Malik, is also expected to attend the meeting, leading to speculation of a possible face-to-face meeting between the two NSAs amidst heightened tensions between India and Pakistan following the Pahalgam attack and subsequent retaliatory actions.
India and Russia have flagged the urgent need to squarely meet the challenges posed by proliferation of nuclear weapons and its possible link to terrorism. The two countries warned how the possibility of atomic weapons falling into the hands of rogue elements posed a threat to international peace and security and undermined security of states.
The Congress party has criticized the Modi government's approach to China following Prime Minister Narendra Modi's meeting with Chinese President Xi Jinping, questioning whether the government is legitimizing Chinese aggression.
Doval briefed his counterparts in the United States, United Kingdom, Saudi Arabia and Japan about India's missile strikes against terror infrastructure in Pakistan and Pakistan-occupied Jammu and Kashmir. He also established contact with Russia and France, officials said.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
'If the near-term economic pain is absorbed more by those who have the ability and the financial strength to do so, then small and medium enterprises in downstream industries will emerge stronger from the trade imbroglio.'
Glimpses from India and around the world that will make you smile and cry.
Reliance Industries' refining earnings will remain steady, supported by its position as India's largest importer of Russian crude and favourable global supplies, according to analysts at JM Financial and Goldman Sachs. Reliance imported more Russian barrels than any other Indian refiner in the past eight months, according to data from Bloomberg/Kpler.
'As one former Indian diplomat put it to me, Delhi has access to the White House, but Islamabad has access to Mar-a-Lago.'
China's foreign ministry on Monday parried questions on a possible meeting between Prime Minister Narendra Modi and President Xi Jinping on the sidelines of the BRICS summit in Russia this week.
Gold prices on Tuesday surged Rs 723 to touch an all-time high of Rs 110,312 per 10 grams in the domestic futures market, tracking strong global cues amid growing expectations of a US Federal Reserve interest rate cut next week. Traders said weak US labour market data has strengthened the case for monetary policy easing, putting pressure on the dollar and boosting demand for the safe-haven asset.
'The two countries are committed to maintaining and consolidating bilateral strategic partnership,' he said.
Twenty-six foreign leaders, including Vladimir Putin and Kim Jong Un, will attend China's V-Day commemorations on September 3. Japan has expressed concerns about the event's anti-Japanese overtones.
'We should watch -- in the near term -- for signs that the two have totally fallen out at a personal, political level.' 'Trump and Modi know how to be dealmakers, but they also know how to hold a grudge.'
'But that was not our aim. Our objective was already achieved.'
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
Both Putin and Zelenskyy have invited the prime minister to visit Russia and Ukraine respectively after the Lok Sabha elections, sources said, adding they see Modi as a "peacemaker".
'What the US appears to be doing is to force India to be "the buyer of last resort", on whom their products can be dumped, 1.4 billion people have to eat something, so why not eat American corn?' 'What is exercising the Trump lot is the fact that most of the farms are in solidly Republican Midwestern states: Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin,' points out Rajeev Srinivasan.
Indian and Russian troops will carry out counter-terrorism drills during joint wargames 'INDRA-2012' close to Russia's boundary with China and Mongolia in August.
Speaking at a joint press conference with Belarus President Alexander Lukashenko on Thursday, Putin said that Russia agrees with the proposals to cease hostilities but "proceeds from the assumption that this cessation should lead to long-term peace and eliminate the root causes of the crisis."
Benchmark BSE Sensex rallied 746 points to close above the 80,000 mark on Monday following buying in oil, auto and banking shares amid fresh foreign fund inflows. The 30-share Sensex jumped 746.29 points or 0.93 per cent to settle at 80,604.08 with 26 of its constituents ending higher.
The RBI added roughly 3 tonnes in 2025, taking its gold reserves to 879 tonnes as of January 31, 2025.
Fijian Prime Minister Sitiveni Rabuka discussed US tariffs on Indian goods with Prime Minister Narendra Modi, noting that "somebody is not very happy with you." The discussion occurred during Rabuka's visit to India to strengthen ties.
'...to build a consensus, not conflict or struggle.'
Among Sensex firms, Tata Motors rose the most by 3.5 per cent while Adani Ports gained 3.16 per cent. Reliance Industries rose by 2.82 per cent. Eternal, Tech Mahindra, Kotak Mahindra Bank, Hindustan Unilever and Maruti were also among the gainers. However, Bajaj Finserv, Power Grid, Mahindra & Mahindra and HCL Tech were among the laggards.
India described as "inaccurate" a media report that said artillery shells sold by Indian arms manufacturers have been diverted by European customers to Ukraine and New Delhi has not intervened to stop it.
GST 2.0 may cushion consumers against US tariffs, but like the 2019 corporate tax cut, it risks being another tactical fix rather than a structural growth strategy, expects Debashis Basu.
According to the original timeline, the ships were to be delivered by 2022, they said, attributing the delays in the delivery to Russia's war in Ukraine.
Microsoft Corp has restored all services -- including email access -- to Russian oil giant Rosneft-backed Nayara Energy, just before a scheduled hearing in the Delhi high court over the service suspension.
'Personalities are temporary, policies provide for stability.' 'With the former, when personalities change so does the nature of the relationship.' 'Policies and structures, on the other hand, are idiot-proof, as well as maverick-resistant,' explains Saisuresh Sivaswamy.
'America holds about 16% of IMF voting rights, giving it crucial influence over Pakistan's desperately needed bailout loans.'
Equity benchmark indices Sensex and Nifty ended lower on Thursday after US President Donald Trump announced the imposition of a 25 per cent tariff on all goods coming from India starting August 1 and an unspecified penalty for buying Russian crude oil and military equipment.
Commerce Minister Piyush Goyal assures Parliament that India will take necessary steps to protect its national interests following the US announcement of tariffs on Indian goods. The government is assessing the implications and engaging with stakeholders.
India is the second country with which Russia is holding a joint military exercise, following the one with China.
Defence experts discuss the objectives and strategic pause of Operation Sindoor, emphasizing the avoidance of a prolonged conflict and its potential impact on the Indian economy.
