Gold extended its record-breaking run to breach the Rs 1.5 lakh per 10-gram mark in futures trade on Tuesday, while silver surged to a lifetime high of Rs 3.27 lakh per kg as investors rushed to safe-haven assets amid mounting global tensions. On the Multi Commodity Exchange (MCX), gold futures for February delivery climbed Rs 6,861, or 4.7 per cent, to record Rs 1,52,500 per 10 grams after settling at Rs 1,45,639 per 10 grams in the previous session.
In an event-heavy week ahead, stock markets are expected to track Q3 corporate earnings from several blue-chip firms, including TCS and Infosys, while inflation data and global trends would also dictate investors' sentiment, analysts said.
Commerce Minister Piyush Goyal assures Parliament that India will take necessary steps to protect its national interests following the US announcement of tariffs on Indian goods. The government is assessing the implications and engaging with stakeholders.
Replacing over a third of India's oil imports at competitive rates is going to be a challenge, said traders from State refiners, even though some progress was made in the last two months.
From the 30-Sensex firms, HDFC Bank, Infosys, HCL Tech, Bajaj Finance, Tata Consultancy Services and Reliance Industries were among the biggest laggards. In contrast, Bharat Electronics, Hindustan Unilever, Tata Steel and UltraTech Cement were among the gainers.
Russian President Vladimir Putin announced his upcoming visit to India in December and expressed his intention to address the trade imbalance between the two countries, particularly concerning India's crude oil imports from Russia. He also lauded India's independent stance on international issues and highlighted the strong relationship between the two nations.
From the 30-Sensex firms, Bharat Electronics surged nearly 9 per cent post its December quarter earnings. Eternal, Bajaj Finance, Power Grid, Trent, Mahindra & Mahindra and UltraTech Cement were the other major gainers. Maruti, Sun Pharma, Infosys and Bharti Airtel were among the other laggards.
A trade deal makes sense only if it is fair and reciprocal. If the cost is strategic dependence or loss of policy space, waiting is the wiser option, asserts Ajay Srivastava.
New investors should enter gradually and with a long horizon. 'Staggered investment through systematic purchase plans is advisable rather than lump-sum buying.'
'No, India and China were not about to go to all-out war over a few rocks of Galwan.' 'The full picture of what went on at the highest level between two heads of State will not be known for a very, very long time and rightly so,' points out Colonel Anil A Athale, former head of the history division, ministry of defence.
Despite a strong 7.8 per cent growth in the first quarter, the Indian economy is expected to grow at 6.5 per cent in the current financial year as the impact of US tariffs on Indian exports will reduce prospects, particularly in the second half, ADB said on Tuesday.
'The longer India hangs out to dry, the worse the New Delhi-Washington relationship gets.'
United States representative Sydney Kamlager-Dove while talking about the famous car selfie of Prime Minister Narendra Modi with Russian President Vladimir Putin said that it spoke a thousand words.
India has a comparative edge over key competitors in a majority of products it exports to the US and stands to gain market share as the US raises tariffs on its major trade partners, NITI Aayog said on Monday. In its quarterly trade report, it recommended that the government fast-track the India-US free trade agreement with time-bound goals to resolve non-tariff barriers and finalise digital trade rules on data flows and e-signatures to support services exports.
The US Representative criticised the administration's new USD 100,000 fee on H-1B visas, observing that Indians hold 70 per cent of these visas and saying the change directly harms workers who have long supported US innovation across technology, science and medicine.
Putin said that the Greenland issues doesn't concern him.
China defended the BRICS economic alliance, stating it is not a bloc for confrontation, after former US President Donald Trump threatened tariffs on countries aligning with its 'anti-American policies'.
Vance also hinted that the US may drop additional tariffs on countries if the US make a deal with Russia, and also apply more tariffs on the countries to bring this war to a close.
'We believe the truth is in the middle, and that India is at an important crossroads.'
The "huge mountain of debt" in developed economies and the risk of a possible unravelling is a matter of concern for India, Union Minister for Railways, Information & Broadcasting, Electronics & Information Technology Ashwini Vaishnaw said on Wednesday, pointing to the recent spike in Japanese bond yields.
From the 30-Sensex firms, Tata Consultancy Services, Asian Paints, Maruti, Sun Pharma, Hindustan Unilever, ICICI Bank, Kotak Mahindra Bank, Tech Mahindra, HDFC Bank and Larsen & Toubro were among the biggest laggards. On the other hand, Tata Steel, NTPC, Axis Bank and UltraTech Cement were among the gainers.
The Kremlin has stated that India is free to purchase oil from any country, dismissing claims that India agreed to reduce Russian oil imports. Russia maintains that energy trade with India benefits both nations and contributes to international energy market stability.
National Security Advisor Ajit Doval has travelled to Russia to hold crucial talks on bilateral energy and defence ties and to prepare ground for Russian President Vladimir Putin's visit to India later this year.
US Ambassador to India Sergio Gor presented his credentials to President Droupadi Murmu. The ceremony took place at the Rashtrapati Bhavan. Gor's appointment was confirmed last year, and he previously served as the White House personnel director. He emphasized the importance of India-US relations and ongoing efforts to finalize a trade deal.
Trump later boarded another aircraft and continued on with his trip to the World Economic Forum in Davos.
Very sensitive items -- such as apples, which carry political weight and are closely tied to farmer interests in states like Himachal Pradesh and Uttarakhand -- may face restricted concessions.
United States President Donald Trump announced a 50 per cent tariff on imports from Brazil, starting August 1, and called the trial of former Brazilian President Jair Bolsonaro a 'witch hunt', adding that the 'trial should not take place'.
Finance Minister Nirmala Sitharaman launched a strong attack on Rahul Gandhi and the Congress party, accusing them of compromising India's interests on the world stage and selling out farmers and the poor during their time in power.
'That way you're not hostage just to US sort of exports to India.'
India's pharmaceuticals and medical devices industries are still hopeful that trade negotiations with the US could cut a fairer deal for both sides, after President Donald Trump announced a 25 per cent tariff rate on India on a social networking platform without divulging the finer details.
New Zealand Prime Minister Christopher Luxon on Monday said the negotiations for a free trade agreement with India have been concluded.
8 Member of Parliaments were suspended from Lok Sabha for tearing & throwing papers at the Chair till April 2. Uproar started when Rahul Gandhi was barred from citing former Army Chief, General M M Naravane's memoir on 2020 India-China clash. Rediff.com brings you the details of these MPs who were suspended.
It is learnt that India was mulling various options relating to the project after Trump administration threatened a 25 per cent additional tariff on countries doing business with Tehran.
Worries about global politics and trade are pulling the Nifty 50 down. Experts say the market could drop further low.
Victory wrested from regime that only listens when forced, the TMC said on GST exemption on insurance.
Reliance Industries cracked 4.42 per cent, while ITC, Kotak Mahindra Bank, InterGlobe Aviation, and HDFC Bank were also among the laggards. However, ICICI Bank, Sun Pharma, Hindustan Unilever, and State Bank of India were among the gainers.
The collective West has always opposed strong leaders and economic development in India, asserts Colonel Anil A Athale (retd).
Chinese envoy Xu Feihong stated that China opposes the US imposing tariffs on India, amidst a thaw in Sino-India relations and concerns over global trade disruptions.
The value of the rupee, which has slipped to the 92 per dollar mark, does not accurately reflect India's stellar economic fundamentals, the Economic Survey said on Thursday.
The Indian rupee, swaying through multiple headwinds, tiding over global trade disruptions and massive foreign fund outlfows, is unlikely to arrest its descent until tariff impact overhangs, notwithstanding robust domestic macroeconomic tailwinds. The Reserve Bank of India (RBI), which sees the rupee's depreciation as a silver bullet to offset the tariff shock, expects the currency to find its stable course once India reaches a trade deal with its largest trading partner, the US.
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