A full-blown recovery remained elusive for India Inc in the July-September quarter, even as it overcame the challenge of achieving profitable growth.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
RBI Governor flayed easy monetary policy of central banks in advanced economies saying it is "more cause than medicine".
The biggest losers of the session include Reliance, Infosys, TCS, ICICI Bank, HDFC twins, ITC, Maruti, L&T, HUL, Axis Bank, Wipro and IndusInd Bank, cracking up to 4 per cent.
S&P Global Ratings on Wednesday said Indian banks face a systemic risk as the second COVID wave will impair the performance of financial institutions in the April-September period. Stating that economic recovery remains highly vulnerable to setbacks due to COVID, particularly if fresh outbreaks trigger new lockdowns, S&P said the banking sector's weak loans will likely remain elevated at 11-12 per cent of gross loans in the next 12 to 18 months. "The second wave has front-ended weakness in asset quality," said S&P Global Ratings Credit Analyst Deepali Seth Chhabria. "Financial institutions face a strained first half amid weak collections and poor disbursements."
It is a trend that economists and researchers say might continue. The data shows the share of this age group in the net EPF accounts created - a proxy for net new formal jobs created - fell from 37.9 per cent in 2018-19 to 24.1 per cent in 2021-22.
The speed at which he led the central bank in different areas -- ranging from internal reorganisation to inflation fighting, stabilising the currency, taking on rogue corporations, cleaning up bank balance sheets, and opening the sector -- makes one believe that Rajan knew he had only three years to do his job. A fascinating excerpt from Tamal Bandyopadhyay's MUST-READ Roller Coaster: An Affair with Banking.
Piyush Goyal's comments about Amazon founder Jeff Bezos's investment in India reveals an inability to understand how businesses function, says Kanika Datta.
Rajan encouraged the Indian-American business community to get involved in the 'nitty gritty of the implementation process,' saying such involvement was not difficult especially since the Indian government has the political will to reform.
The coming elections seem a tough battleground for the BJP in the wake of anti-incumbency, Patidar and Dalit agitations and implementation of the GST.
A report by the Azim Premji University showed that during the pandemic 270 million Indians were pushed into poverty. Meaning that they were not poor according to the government poverty line before, but have become now. Aakar Patel mulls on the state of the nation as the Modi government enters its eighth year.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
'The markets have corrected almost 8-9 per cent from their highs, so one can accumulate quality stocks at reasonable prices.'
'Unemployment barely figures in the Budget except as a derived demand from the industry and infrastructure.' 'There is no effort at direct attack on unemployment.'
They believe that the key reason behind such a high growth rate could be "a steep downward revision" of the year-ago base period.
The central bank has been intervening in the foreign exchange market by buying dollars, and this is capping the rupee's gains.
These consistent performers are expected to maintain momentum.
'Unlike on the western and eastern borders where there is an enemy at the gate, here there is an invisible enemy which is building its own capability and can come into play at a time and place of his choosing.'
Modi is keen to get more investments into Gujarat.
This was even as the country's economy grew by 7.3%.
He reaffirmed India's resolve to fight terrorism in all its forms and manifestations and said peace and prosperity cannot coexist with terrorism, in remarks seen as directed at Pakistan.
'A buoyant market economy is one which is led by the innovation and imagination of private persons,' notes Ajay Shah.
'The Budget has maintained fiscal prudence while announcing a number of steps to boost growth, particularly in infrastructure and rural sectors.'
Modi praised Tamil Nadu as a special place and lauded the Tamil language as eternal and its culture as global.
Despite the 3 per cent gain in September 2019, the FPI sell-off during the quarter has seen the benchmark indices - the S&P BSE Sensex and the Nifty 50 register negative returns in Q3CY19.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances