A survey by industry body Ficci has lowered the country's economic growth forecast for 2013-14 fiscal to 5 per cent, from 6 per cent projected in July, indicating tough times ahead.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
Delhi's inability to open up a new canvas with Pakistan and Sharif is symptomatic of its sluggish thinking. Jyoti Malhotra analyses
Top gainers from the Sensex pack are ONGC, HDFC, HUL, RIL and Cipla.
Premium valuations and lack of big triggers will weigh on Indian equity markets in the near term, believes Mahesh Nandurkar, India Strategist, CLSA.
Experts say the BSE Sensex could rise to around 32,000 in a year.
Globally, jewellery buying fell 14%, investment slid 11%.
A delayed monsoon and abundant cotton in the international market could spell trouble in the state's suicide zone.
The convertibility is RBI Governor's 'next big ambitious goal'.
India has undertaken a number of structural reforms.
Calling India an indispensable partner for the 21st century, United States Secretary of State John Kerry said on Monday the dynamism and entrepreneurial spirit of this bilateral relationship is needed to solve some of world's greatest challenges.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
In January 2008, the Sensex hit then all-time high of 21,207 (closing high of 21,004 was achieved in November 2010).
The market breadth ended weak on the BSE with 2,086 shares declining and 893 shares advancing.
Market breadth on the BSE ended firm as 1,908 shares advanced and 1,156 shares declined
When there is panic, you get an opportunity to get your hands on some of the good stocks.
The derivatives expiry on Thursday is also expected to add to the volatility.
Rajan said investments should return after initial investor worries over Brexit.
There will very little direct impact from the US Fed's rate hike this time, as we are well prepared both to handle liquidity, outflow of FII funds and managing our currency. But that doesn't mean India will be out of the woods anytime soon, says M V Subramanian.
Managing expectations is a challenge for policymakers.
The choking of natural drainage brings monsoonal Mumbai to its knees year after year.
In our special series re-visiting great Hindi film classics, Sukanya Verma looks back at Raj Kapoor's Boot Polish (1954), starring Baby Naaz and Ratan Kumar.
Go for high quality and low-to-medium-duration funds in your debt portfolio
Debt fund managers think the Reserve Bank governor might at best go for one rate cut in April.
The sun is out. The flood waters have receded. Keralites have spent crores in quickly cleaning up the state and making it visitor ready. Go to Kerala folks!
The challenges authorities face in cleaning Ganga and other holy rivers in Varanasi.
'People are angry.' 'First notebandi, then GST, now losses on the farm have ruined us.'
The Economic Survey was tabled in the Parliament on Friday.
Cracks are widening within Bihar BJP with more party legislators coming in the open and alleging lack of inner democracy with one MLA openly vouching for Chief Minister Nitish Kumar saying he would serve as a better prime minister.
Although the current long-term bullish trend is intact, markets are awaiting clarity on the taper and the Assembly election results.
The new series claims GDP grew at seven per cent between April and June 2015, while gross value added (GVA) grew at 7.1 per cent.
This is the joint statement issued by the ministry of external affairs on the visit of US President Barack Obama to India.
Benchmark indices failed to sustain gains and retreated from day's high dragged primarily by the losses in metals, information technology and bank shares as investors started to book profits in late noon deals. Earlier, markets had scaled fresh all-time highs on the surprise post-budget rate cut by Reserve Bank of India (RBI). The 30-share Sensex ended down 213 points at 29,380 and the 50-share Nifty closed down 74 points at 8,922. Intra-day, Sensex reached the all-time high mark of 30,024.74 while Nifty touched the life-time high level of 9,119.20. In the broader market, both the BSE Midcap index and Smallcap indices, down 1% and 1.2% each underperformed the front-liners. Market breadth in BSE ended negative with 1,882 declines against 1,010 advances. A day after signing an agreement with Finance Ministry on inflation targeting, RBI surprised the markets with an early post-budget repo rate cut of 25 bps (basis points) to 7.5% from 7.75% which was again outside of central bank's scheduled policy review meetings as the earlier rate cut effected on January 15. "RBI's latest rate cut of 25 basis points, while a surprise in its timing is in-line with our expectations of a sharp rate-cutting cycle over the coming quarters. With inflation sustainably lower by 500bps, the RBI has in recent months acknowledged the scope for rate cuts and was only waiting for additional comfort that the government's fiscal policy would not play spoil-sport," said Dinesh Thakkar, chairman and managing director at Angel Broking in a note. Analysts at Karvy believe that further monetary policy action will depend on number of factors including easing of supply constraints, improved availability of power, land, minerals and infrastructure, fiscal consolidation, the pass through of rate cuts by banks and the expected monsoon. Citing weakness in some sectors of the economy and the overall global trend towards monetary easing as rationale for the rate cut the central bank also exuded confidence in the road map for fiscal consolidation as laid out in the Union Budget, 2015. Commenting on how the markets reacted to RBI's surprise move, K Subramanyam assistant vice-president (institutional research), Asit C. Mehta Securities said, "The unexpected cut did take the market by surprise .However, credit off-take is not dependant only on interest rates. A gradual revival in the economy would be of more help which would trigger credit off-take. Hopefully this will follow and RBI's action would prove helpful. From market point of view this is bullish as equity becomes more attractive vis-a-vis falling interest rates." On the macro-economic front, the HSBC services PMI rose to an eight-month high of 53.9 in February up from 52.4 in January indicating strong expansion in output across the sector. Respondents cited robust growth of new business as the principle factor for the increase in activity. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 773 crore on Tuesday, as per provisional data. Buzzing Stocks 9 out of the 12 sectoral indices of BSE ended in red. BSE Metal index, down 2.4% was the top loser followed by BSE Oil & Gas and Power indices, down 1.3% each. BSE Healthcare index, up 1.2% and BSE FMCG index, up 0.9% were the top losers. Bank stocks came under during late noon trades as traders booked profits at higher levels. However, RBI rate cut may encourage large lenders to cut their lending rates boosting demand for home and auto loans and provide funds for various stalled and new projects. Many stalled projects across the country are waiting for cash to restart work. The stock of stalled projects at the end of December 2014 stood at Rs 8.8 lakh crore or 7% of GDP. ICICI Bank ended down 0.1%, Axis Bank and SBI declined over 3% and HDFC Bank shed 1.5%. Sun Pharma gained over 6% on approval granted to Sun Pharma Advanced Research Company (SPARC) by US FDA for an antiepileptic drug. The product will be manufactured by Sun Pharmaceutical Industries at its Halol (Gujarat) facility in India. SPARC was formed in 2007 when Sun Pharma separated out its active projects in drug discovery and innovation into a new company. Dr Reddys Lab and Cipla have gained over 1% each. ITC gained over 1% after consecutive sessions of losses on the proposed larger-than-expected hike in excise duty on cigarettes in the Union Budget. The biggest ever auction of spectrum by the Department of Telecommunications (DoT) started on Wednesday in the morning where government expects to garner Rs 80,000-1lakh crore from the sale of spectrum. Idea Cellular gained over 2%, Reliance Communication gained around 1% and Bharti Airtel closed 0.5% higher. Metal stocks were under pressure in today's session. Hindalco declined over 3%, Sesa Sterliteended down over 4% and Tata Steel closed down 2%. Profit-taking in IT stocks led to Wipro losing around 1.8%, Infosys declining 0.7% and TCS losing 1.5%.
Policymakers have been grappling with high prices for food staples such as onions and potatoes even after the central bank raised interest rates by a quarter percentage point in each of its previous two reviews.
Mark Tully on the India he loves.
This is the lowest investment grade rating.
'On the tax front, most of the Budget proposals are sensible'.
Low consumer demand, a slide in investments and troubles in the banking sector should prompt the government to recalibrate taxes and expenditure. It is also important to ramp up spending on health care and education, says CII president Sumit Mazumder.
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It also painted a grim possibility of any major gains in the rupee during the current fiscal saying that the continuing global volatility, and domestic political uncertainty ahead of the 2014 hustings will limit chances of any significant appreciation apart from further impact growth.
The IMG meeting will be convened shortly.
