RustOrange co-founders Samik Sarkar, Shashank Agnihotri and Kuvalaya Singh share their story and learnings.
Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Since the 1984 national elections, no party has won a clear majority in the lower house of Parliament, a US intelligence report has observed. Vicky Nanjappa reports.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
'The uneducated think of their rights as a gift. This is deeply troubling.' 'If they were educated they could claim what is rightfully theirs.'
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
Market experts attributed the huge sell-off to weakness in Indian currency.
'He is seeking to harness the power of Indian Diasporas to national (support for India in global capitals) and political (enhance the Bharatiya Janata Party's support base) ends.'
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
Cautious optimism over US-China trade talks after US President Trump said his trade negotiators had received two "very good calls" from Beijing also influenced the local currency, dealers said.
At close, the Sensex was up seven points at 24,556 and the Nifty gained 11 points to end the session at 7,330.
Covid-19, US yields, dollar to weigh on equity flows in the near term.
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
Experts say the recent Rs 14,000-crore PNB fraud could have been avoided had there been an integration of PNB's CBS with its SWIFT system
Ajay Banga is one of the nine members of the Commission on Enhancing National Cyber Security.
Since October, FPIs have sold over $26 billion worth of stocks, which is the largest selling ever seen in India, observes Akash Prakash.
Will the next generation possess an even more internationalist outlook, and lose their Indian identities entirely? Will they continue to believe in a larger role for business in society and go beyond the boardroom to truly understand the Indian consumer, ask Geoffrey Jones & Vinay Sridhar of Harvard Business School.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
Whatever be India's course of action, it will have an impact on India-Iran ties, notes Aveek Sen.
'Pleasure to meet FM Sergey Lavrov, this time in person. Excellent talks that reflect our Special and Privileged Strategic Partnership. Value our exchanges on the international situation,' Jaishankar tweeted after talks with his Russian counterpart on the sidelines of the SCO meeting.
Illustration: Uttam Ghosh/Rediff.com After a brief respite at the year's start, FPIs have dumped shares worth more than $5.7 billion (Rs 42,596 crore), taking the cumulative net outflows since October to $10.5 billion (Rs 78,466 crore), and adding to the volatility on the bourses. The figure would have been a lot worse had it not been for net purchases to the tune of $5.7 billion in the primary market from October to date.
Johnson was to spend a few days in India starting April 26 as part of a planned itinerary, which is expected to include finalising a UK-India Enhanced Trade Partnership.
'With more and more young people relocating outside their home states for work, an all-India MLDA of 21 would be a good way to ensure that more Indians can go with the flow,' recommends Kanika Datta.
Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.
Lakhs of jobs are at stake.
While a coordinated aggressive monetary easing from the central banks is most likely to offer some respite in the near-term, it is unlikely to improve the sentiments.
Through anchor allotment, a firm can demonstrate the demand for shares by getting marquee investors on board.
Technically speaking, US equities have seen net losses since January. India is strongly influenced by US trends.
Macroeconomic data announcement, Omicron situation and global trends will be the major driving factors for the equity market in the first week of the new year 2022, according to analysts. In what turned out to be a historic year, the Indian stock indices went past multiple milestones and the 30-share Sensex made an annual gain of 10,502.49 points or 21.99 per cent in 2021. Religare Broking Vice-President (Research) Ajit Mishra said, "This week marks the beginning of a new month and participants will be closely eyeing some crucial high-frequency data like monthly auto sales, India manufacturing PMI and India services PMI. "Besides, updates on the COVID-19 situation and performance of global markets will also be critical."
India said it is committed to building up Indian Ocean Rim Association in line with its own expanding bilateral ties with the members of the grouping.
Undeterred by the stock market volatility, uncertainty due to the Ukraine-Russia war and high inflation, equity mutual funds continue to remain attractive choice for investors for the 15th straight month, registering a net inflow of Rs 18,529 crore in May on robust SIP numbers. This was higher than Rs 15,890 crore net inflow in April, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors.
The USS John Paul Jones acted like a dog marking the lamp post, observes Ambassador M K Bhadrakumar.
Senior Executive Director & Co Head (Strategy) of Kotak Institutional Equities Sanjiv Prasad tells Prasanna D Zore/Rediff.com that even if there are a number of challenges facing the Indian equity markets, there are certain sectors that offer a ray of hope.
After his wide-ranging talks with Modi on the second and final day of his India visit, Johnson said the new defence and security partnership will enable India to strengthen its domestic defence industry as well as help the two countries protect vital shared interests in the Indo-Pacific.
As regards India, FIIs have pumped in over Rs 34,400 crore in the Indian stocks in calendar year 2021.
Investment bankers said retail investors were pulling back, while institutions were being pickier
The derivatives expiry on Thursday is also expected to add to the volatility.
The faster-than-expected rise in interest rates by the US Federal Reserve (US Fed) shook global financial markets in early 2022. And now the ongoing war between Russia and Ukraine has lifted commodity prices, with Brent crude oil hitting a 14-year high of $139 a barrel in intraday trade. All these developments have sent the equity markets across the world into a tailspin.
