Prime Minister Modi urged the people of the country to take pride in selling and buying indigenous goods.
RBI recently cut repo by 0.25 percentage point, taking the rate to 7.25 per cent in three reductions since January.
Jewellery stores remained deserted as buyers deferred their non-essential purchases awaiting softness in gold prices.
With gains of over 28 per cent, Hero MotoCorp has emerged as the best-performing largecap automotive stock over the past three months. The rally has been driven by an improved outlook for the rural segment, higher demand during the ongoing festival season, and rising affordability following cuts in goods and services tax (GST) rates.
Given the stronger rural activity, and potential goods and services tax (GST) impact, investors are bullish on the two-wheeler (2W) segment. In August, dealers in the domestic market picked up 11 per cent more 2Ws year-on-year (Y-o-Y), despite only 2 per cent growth in retail registrations. This indicates inventory stocking ahead of the festival season. Export trends were good. TVS Motor and Royal Enfield may have gained domestic market share.
Gold prices surged Rs 2,200 to hit a fresh peak of Rs 116,200 per 10 grams in the national capital on Monday buoyed by strong global cues as investors awaited key commentary from US Fed officials for policy direction. According to the All India Sarafa Association, the precious metal of 99.9 per cent purity had closed at Rs 1,14,000 per 10 grams on Friday.
Despite corporate bond yields hardening by 20-25 basis points, Indian corporates are not warming up to bank funding for their capital expenditure needs as bank lending rates remain elevated due to the higher cost of liabilities, compared to current rates in the debt capital market.
The Reserve Bank of India (RBI) does not target any price level on the rupee, Governor Sanjay Malhotra reiterated at an International Monetary Fund and World Bank event on Wednesday.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
El Nino, which refers to warmer-than-average sea surface temperatures in the central and eastern tropical Pacific Ocean, will likely to keep CPI inflation up at 8-10 per cent in the second half of 2014 and will pose a 50-70 basis point risk to this fiscal's growth expectation, the report by financial services major Bank of America Merrill Lynch said.
From appointment letters becoming mandatory to gig workers receiving social security to enhanced rights for women and contract labour, the changes reflect India's attempt to balance ease of doing business with stronger worker welfare.
The study said the fund cuts could reverse decades of progress and that for many low and middle-income countries, the resulting shock would be comparable in scale to a "global pandemic" or a "major armed conflict".
This meeting assumes importance pursuant to the fiscal stimulus package announced last Sunday mentioning package for housing loans below Rs 20 lakhs (Rs 2 million). The government had earlier said that public sector banks would soon announce a package for borrowers of home loans up to Rs 500,000 and between Rs 500,000 and Rs 20 lakhs (Rs 2 million).
In its monetary and macroeconomic development report, RBI has raised hopes of a rate cut but also flagged some challenges.
If providing a stimulus to growth is the objective now, that would be best served by moving rates as quickly as possible to the bottom.
Among Sensex firms, NTPC, Axis Bank, Power Grid, Bharti Airtel, Eternal and Sun Pharma were the major gainers. However, Infosys, Titan, UltraTech Cement and Hindustan Unilever were among the laggards.
Among Sensex firms, Bharat Electronics rose the most by 4.26 per cent. HCL Tech gained 2.57 per cent, Bajaj Finance by 2.19 per cent, TCS by 1.99 per cent, Tech Mahindra by 1.88 per cent and Infosys by 1.85 per cent. Gains in Axis Bank and State Bank of India also supported the rally. However, Mahindra & Mahindra emerged as the biggest loser, falling by 2.47 per cent. Maruti dropped 1.53 per cent and Tata Motors by nearly 1 per cent due to profit-taking. UltraTech, Eternal and Power Grid were also among the laggards.
A day after Federal Reserve Chairman Ben Bernanke announced the rate cut, FIIs bought shares worth over Rs 2,400 crore (Rs 24 billion), lifting the index up by 650 points, one of its biggest intra-day gains.
The RBI said there is an upward bias on inflation projection.
At 37, the numbers behind his all-format dominance reveal not just longevity but an unmatched hunger for excellence.
The chances of a rate cut in September have risen.
Those who have binged on credit must spend less, cut discretionary expenses, and focus on repayment.
IMAGES from Day 2 of the 1st Ashes Test in Perth on Saturday.
Rupee edges higher against dollar at close.
Retail inflation eased to a nearly six-year low of 3.16 per cent in April mainly due to subdued prices of vegetables, fruits, pulses, and other protein-rich items, creating enough room for the Reserve Bank to go for another round of rate cut in the June monetary policy review. The Consumer Price Index (CPI) based inflation was 3.34 per cent in March and 4.83 per cent in April 2024. It was 3.15 per cent in July 2019.
More steps are necessary to accelerate speed.
Reserve Bank of India (RBI) is unlikely to cut the benchmark interest rate at its upcoming monetary policy review meeting, taking place soon after the announcement of the Lok Sabha election results, amid inflation challenges, said experts. The Monetary Policy Committee (MPC) may also refrain from rate cut as economic growth is picking up, notwithstanding the elevated interest rate of 6.5 per cent (repo) prevailing since February 2023. The meeting of the Reserve Bank Governor Shaktikanta Das headed MPC is scheduled for June 5 to 7.
Wholesale price inflation (WPI) softened to 0.13 per cent in September on easing in prices of food articles and manufactured items, government data showed on Tuesday. WPI-based inflation was 0.52 per cent in August and 1.91 per cent in September last year.
Stock markets snapped the four-day falling streak on Tuesday with the benchmark Sensex rebounding by 317 points on buying in auto and pharma shares amid a decline in retail inflation to a more than six-year low, nearing the RBI's comfort zone. The 30-share BSE Sensex climbed 317.45 points or 0.39 per cent to settle at 82,570.91. During the day, it jumped 490.16 points or 0.59 per cent to 82,743.62. The 50-share NSE Nifty edged higher by 113.50 points or 0.45 per cent to 25,195.80.
According to bankers and economists, there is room for further rate cut by the RBI as retail and wholesale inflation rates have remained benign.
Leading FMCG companies have announced a price cut on their products, including soaps, shampoo, baby diapers, toothpaste, razors, and after-shave lotions, effective from September 22 to extend the GST rate cut benefits to consumers. Firms such as Procter & Gamble, Emami and HUL have come up with new price lists which have been communicated to their respective distributors and consumers through their respective websites.
Automobile retail sales across the domestic market witnessed a 21 per cent year-on-year increase in the 42-day festive season led by record registrations of passenger vehicles and two-wheelers aided by GST rejig enabled drop in prices across segments, dealer' body FADA said on Friday.
Rajan's deputy Khan cautions against early celebration of falling inflation, unhedged forex exposure.
Rajan has ignored pressure to loosen policy.
More interest rate cuts by the US Federal Reserve to protect its slowing economy are likely to strengthen gold prices further with the metal being a safe haven for investors having offered handsome returns in the last year-and-a-half.
India imports 80 percent of its oil, which adds to inflationary pressure.
Understanding severance pay isn't just for those who are losing their jobs
ICICI Bank delivered satisfactory results in the second quarter of 2025-26 (Q2FY26), sustaining return on assets (RoA) of around 2.3-2.4 per cent and improving asset quality. Provisions declined 26 per cent year-on-year (Y-o-Y) and 50 per cent quarter-on-quarter (Q-o-Q).
October infrastructure output, which contributes nearly 38 per cent to the industrial output index, was up 3.2 per cent annually.
"We currently manage collections for over 98 million retail and small-business loan accounts, covering a loan book of about $250 billion," says Rishabh Goel, cofounder and chief executive officer (CEO) of Credgenics, a software-as-a-service platform for debt collection. With more than 700 million smartphone users and over 450 million UPI users, digital access is everywhere.
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