Devangshu Datta predicts the good, the bad and the ugly of currency trends for the coming year.
The S&P BSE Sensex ended up 129 points at 26,843 and the Nifty50 ended up 39 points at 8,220.
The free trade agreement (FTA) talks with India are no longer working towards a Diwali deadline though negotiations are progressing well, UK Trade Secretary Kemi Badenoch has said as New Delhi expressed confidence on Friday of an "early date" for a mutually beneficial deal. "There are ongoing negotiations as we know on the FTA. There is interest on both sides to see if we can work towards a deal, an FTA, that is beneficial to both the countries at an early date," external affairs ministry spokesperson Arindam Bagchi told reporters in New Delhi. It came as External Affairs Minister S Jaishankar spoke to his UK counterpart, James Cleverly, and referenced the Roadmap 2030 bilateral agreement signed between Prime Minister Narendra Modi and former UK PM Boris Johnson in May last year, with no specific reference to the FTA.
Govt unlikely to cut excise duties to compensate for higher global prices, say analysts.
Russia on Thursday said it was not bothered at a possible price cap on its crude oil proposed by the West, saying Moscow will negotiate directly with its partners like India and China as the price should be decided between the producers and consumers, and "not someone who just decided to punish someone." Members of the G7 have agreed to impose a price cap on Russian oil in a bid to hit Moscow's ability to finance the war in Ukraine. Countries want to reach an agreement ahead of December 5, when Europe's embargo on Russian crude travelling by sea takes effect.
The world, he said, needs to move towards a transparent and flexible market for both oil and gas.
While good news from several quarters has been trickling in, El Nino might be a dampener, says T N Ninan.
The Union Cabinet on Wednesday approved the signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce
Finance Minister Nirmala Sitharaman on Thursday said inflation management cannot be "singularly" left to the monetary policy as a majority of activities are outside its purview in the current context. Speaking at a seminar organised by economic think-tank Icrier, the finance minister said that both the fiscal policy and the monetary policy have to work together to contain inflation. Consumer price index (CPI) based inflation or retail inflation is ruling above the Reserve Bank's comfort level of 6 per cent since January.
The ongoing oil price decline is mainly a result of oversupply in the global market
The revised projection comes after a 17% rise in the April-June.
Sri Lanka is facing its worst economic crisis since gaining independence from the UK in 1948.
Low fuel prices to help oil marketing and refining sectors but upstream players will stay under pressure.
The President said he made the decision in consultation with European allies but added they may not be in a position to join the US in banning Russian energy imports.
Investors indulged in profit booking at attractive and higher valuations
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
Officials from State-run refiners contend that savings from purchase of Russian oil are used to offset a part of the losses in revenues from selling transport fuels and LPG at State-set rates.
Oil marketing cos rightly passed on the burden to buyers.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
The uptick in prices ranging from steel to wheat could benefit lots of commodity-based companies -- from State-owned SAIL to the agro exporters.
India remains North Korea's 2nd-largest import source after China, according to several estimates by multilateral bodies, says Subhayan Chakraborty.
International oil prices have hit a six-month low, helping Indian fuel retailers breakeven on petrol but they continue to lose money on diesel - the most used fuel in the country, officials said. The world's best-known crude benchmark, Brent was trading at $94.91 per barrel on Thursday after concerns of a global recession led to it slipping to a six-month low of $91.51 on the previous day. The current rates are a relief to India, which is 85 per cent dependent on imports for meeting its oil needs.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a 46 per cent jump in net profit for the three months ended June on the back of bumper earnings from oil and telecom businesses. The oil-to-retail-to-telecom conglomerate's consolidated net profit rose to Rs 17,955 crore during April-June period -- the first quarter of 2022-23 fiscal year -- from Rs 12,273 crore in the year-ago period, it said a stock exchange filing.
Qatar is the world's richest country in terms of per capita income.
'A 2018 murder may lead to shifts in the geopolitical order and impact at least one monarchy,' says Devangshu Datta.
This is the highest any Indian company has been ranked on the Fortune Global 500 list.
OPEC agrees to keep pumping as oil glut fears persist.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
The deficit increased to $ 57.2 billion or 2.1 per cent of gross domestic product (GDP) in 2018-19 as against 1.8 per cent in the previous year.
Saudi Arabia's deep pockets and a strong financial system could help the country to ride out a low-price environment in order to protect its market share.
Aggressive rate hikes by the US Federal Reserve could result in a flight of capital from emerging markets like India, says B Gopkumar, chief executive officer, Reliance Securities.
There is the problem of regions in the North East being theatre for power-play by nations with borders and influences converging in those parts, which in turn requires a sizable presence of the armed forces, notes Shyam G Menon.
Demonetisation impact, earnings growth, central bank policies will get attention.
In 2013, the fall in international gold prices was 28 per cent.
'And Joshimath has already shown the dangers ahead.' 'We have to acknowledge that our mountains are still young babies.' 'You don't put an extra load on the back of a growing child!'
Top gainers among the S&P BSE Sensex include GAIL, Dr Reddy's Laboratories and Bharti Airtel, all edging up by 1% in late morning deals
Domestic passenger vehicle retail sales declined eight per cent in February as the companies continued to suffer production loss due to chip shortage, automobile dealers' body FADA said on Friday. The passenger vehicle (PV) sales dropped to 2,38,096 units last month, down 7.84 per cent from 2,58,337 units in February 2021. "Even though the passenger vehicle (PV) segment saw some launches and slight respite in supply due to better production, it was not enough to meet customer demand. "Vehicle waiting period thus remains similar to what it was in the past few months," FADA president Vinkesh Gulati stated.
India's export basket for Pakistan has a limited portfolio as Pakistan has not given 'most favoured nation' status to New Delhi and such goods have ready market in South Asia and the Middle East.
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
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