Foreign investors continue to pull back money from the Indian equity market, withdrawing Rs 24,753 crore (about $2.8 billion) in the first week of March amid escalating global trade tensions and lacklustre corporate earnings.
More than 300 flights have been cancelled and at least 25 airports, including Srinagar, have been temporarily shut for operations amid restrictions in the wake of the armed forces launching missile attacks on terror targets in Pakistan on Wednesday morning.
From the Sensex pack, HDFC Bank, Maruti, Tech Mahindra, HCL Tech, ITC, ICICI Bank, Kotak Mahindra Bank and Bajaj Finance were among the biggest laggards. NTPC, Adani Ports, Mahindra & Mahindra, Tata Steel and IndusInd Bank were among the gainers.
Maruti, IndusInd Bank, Bajaj Finserv, Eternal, Mahindra & Mahindra, Tata Steel, Kotak Mahindra Bank, Titan, HDFC Bank, and NTPC were among the other major gainers. Bharti Airtel and Sun Pharma were the laggards.
Amid rising tensions between India and Pakistan, the US has called on both countries "not to escalate" the conflict. Secretary of State Marco Rubio is expected to speak with the foreign ministers of Pakistan and India as early as today or tomorrow. The US State Department said Washington is reaching out to both India and Pakistan "regarding the Kashmir situation" and telling them "not to escalate the situation."
Pakistan's intelligence agency, the ISI, is reportedly using individuals under the influence of drugs or posing as mentally disturbed to infiltrate India and deliver messages to terrorists in prisons. Officials have reported over 10 such cases since July, with individuals entering from Pakistan and Pakistan-occupied Kashmir and being sent to prisons in Jammu, Punjab, and Rajasthan. Security agencies suspect these individuals are couriers tasked with relaying communication to jailed terrorists. The ISI's tactic is believed to be a response to the increased use of technology in communication, which leaves behind electronic footprints. This method of infiltration has also been linked to drug smuggling operations. The ISI's current tactic is reminiscent of its past use of "sawari operators" on the Samjhauta Express for covert operations, which were effectively curtailed by authorities.
'Make-in-India played a key role in India's effective action against terrorism during Operation Sindoor.'
The return filed could be treated as defective, invalid, or even be considered as not filed at all.
Foreign investors have pulled out Rs 44,396 crore from Indian equities this month, driven by strength of the dollar, rising bond yields in the US, and expectations of a weak earnings season. This came following an investment of Rs 15,446 crore in the month of December, data with the depositories showed.
Two 'very smart' leaders of India and Pakistan decided to end last month's conflict that could have turned into a nuclear war, United States President Donald Trump said after holding a rare luncheon meeting with Pakistan army chief Field Marshal Asim Munir at the White House.
Vikram Doraiswami, an Indian Foreign Service officer of the 1992 batch, is the youngest Indian diplomat ever to be assigned to the Court of St James.
From the Sensex pack, Asian Paints, NTPC, Reliance Industries, Tata Steel, Bajaj Finserv, Hindustan Unilever, Sun Pharmaceuticals, Adani Ports & SEZ, Axis Bank, Tata Consultancy Services, Titan and Bajaj Finance were the major gainers. Tech Mahindra, Kotak Mahindra Bank, Zomato, Tata Motors, and IndusInd Bank were the laggards.
The US Trade Representative noted that India's average applied tariff rate stood at 17% per cent, the highest of any major world economy.
The possibilities of this serviceable thriller are immense but the makers prefer to play it safe and hold back the daredevil in the diplomat's clothing, observes Sukanya Verma.
Indian economy is in a sweet spot, with a mix of solid growth and moderating inflation, Moody's Ratings said, forecasting a 7.2 per cent GDP growth in the 2024 calendar year and 6.6 per cent in the next. In its Global Macro Outlook 2025-26, the rating agency said the global economy has shown remarkable resilience in bouncing back from supply chain disruptions during the pandemic, an energy and food crisis after the Russia-Ukraine war began, high inflation and consequent monetary policy tightening.
'Unsurprisingly, Trump shared Modi's podcast with Fridman on his Truth account.' 'The intentions of Trump, a transactional president, are never easy to tell.' 'We will know in the next fortnight if and when he unfolds reciprocal tariffs on Indian goods, whether Modi's flattering words made any significant difference to Trump's compass,' notes Ambassador M K Bhadrakumar.
A 1966-batch Indian Foreign Service officer, Shashank succeeds Kanwal Sibal, who retired on Sunday after an 18-month stint.
Among the Sensex firms, Hindustan Unilever, Tech Mahindra, Infosys, Reliance Industries, Bajaj Finance, Tata Consultancy Services, Titan and UltraTech Cement were the major laggards. Mahindra & Mahindra, Power Grid, IndusInd Bank, Tata Motors, Larsen & Toubro and Maruti were among the gainers.
Kanwal Sibal retires on November 30 this year.
According to Jaishankar, the problem is that the Russian authorities maintain that these Indian nationals entered into contracts for services with the Russian army.
The IMA feels that there is a dire need for a drastic change in health administration which can be realised by raising a new cadre of administrators, it said in a statement.
Foreigners cannot rent a womb in India, the central government told the Supreme Court on Wednesday.
Global trends, trading activity of foreign investors and news flow on tariffs are expected to influence movement in the equity market in a holiday-shortened week ahead, analysts said. Equity markets would remain closed on Wednesday for 'Mahashivratri'.
Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.
The US Fed interest rate decision, global trends, tariff-related developments and trading activity of foreign investors will drive the equity market movement this week, analysts said. Among macroeconomic data announcement, WPI inflation for February is scheduled to be announced on Monday.
Following a deadly terror attack in Pahalgam, India has ordered all Pakistani nationals to leave the country within 48 hours. This has led to a mass exodus of Pakistani citizens from India, while several women married to Pakistani nationals and holding Indian passports are facing difficulties returning to their families in Pakistan.
Sujata Singh, currently envoy to Germany, will be India's next foreign secretary following an approval of her appointment by Prime Minister Manmohan Singh, sending months of speculation on who will head the foreign services.
The exodus of FPIs from the Indian equity markets continues unabated, as they withdrew Rs 64,156 crore ($7.44 billion) this month so far on depreciation of the rupee, rise in the US bond yields and expectation of a tepid earning season. This came after an investment of Rs 15,446 crore in the entire December, data with the depositories showed.
'Skilled labour is different from immigration.' 'While any adverse immigration ruling will impact Indians, it may not necessarily affect the IT services industry.'
Khedkar, a 2023 batch Indian Administrative Service officer, was accused of misusing power and privileges during her training in Pune recently.
India and the United States will finalize the contours, schedule of negotiations, and terms of reference for a proposed bilateral trade agreement (BTA) during a three-day meeting beginning Tuesday. The agreement is expected to be finalized in two tranches, with the first phase focusing on goods trade. The US team, led by Assistant US Trade Representative for South and Central Asia Brendan Lynch, will be in India from March 25-29 to discuss the agreement. Both countries are aiming to conclude the first phase of the agreement by fall 2025.
In Geneva, Bagchi would succeed Indra Mani Pandey who is set to return to New Delhi.
India's National Security Advisor Ajit Doval held bilateral talks with US Director of National Intelligence Tulsi Gabbard, and chaired a conclave of top global intelligence chiefs focusing on strengthening cooperation in confronting various security challenges including terrorism and threats posed by emerging technologies. The meeting also focused on security in the Indo-Pacific region, cooperation to counter terror funding and money laundering, and issues relating to extradition and immigration.
It was not immediately known how Arya, a 2008-batch Indian Foreign Service officer, died.
President Mohamed Muizzu on Wednesday said by bolstering the defence capabilities of the Maldives, the country will soon reach a point where there is no 'foreign' military presence, weeks after he sought the withdrawal of Indian defence personnel from the archipelago nation.
Investors will take cues from the December quarter corporate earnings, with blue-chips like Infosys, Reliance Industries scheduled to report their results this week, in addition, inflation data and trading activity of foreign investors will also be crucial in dictating market trends, analysts said.
Russia on Wednesday said it is hoping for quick resolution of the issue relating to India's call for return of Indians recruited into the Russian Army as support staff and asserted their recruitment was purely a commercial matter.
The casualties were reported hours before India and Pakistan agreed to end hostilities, which soared after the Indian Armed Forces hit terror launchpads in Pakistan and Pakistan-occupied Kashmir earlier this week in response to the Pahalgam attack.
The BSP leader won the Bijnor Lok Sabha seat in 1989, her first electoral triumph.
'The market's nervousness ahead of anticipated US tariffs has led to a significant downturn in Indian equities.'
