Gold prices advanced Rs 700 to reach a new lifetime high of Rs 91,950 per 10 grams in the national capital on Wednesday on the back of continued buying by jewellers ahead of wedding season, according to the All India Sarafa Association. Besides, increased tensions in the Middle East and concerns about the US economic slowdown have kept the demand for safe-haven assets intact.
RS Chairman Dhankhar called Kharge making the claim a "very sad moment" and asked him to withdraw his statement, the Leader of Opposition insisted the government give the correct figures and continued with his speech.
Bihar Chief Minister Nitish Kumar engaged in a heated exchange with Leader of the Opposition Rabri Devi in the Legislative Council, dismissing her as "inconsequential" without her husband, RJD president Lalu Prasad. The spat stemmed from RJD MLCs wearing badges promoting quota hikes passed during Tejashwi Yadav's tenure as Deputy CM, which Nitish Kumar perceived as an attempt to claim credit for the populist move. Kumar also remarked that Rabri Devi was only propped up by her husband when he was in trouble, referring to her becoming Chief Minister in 1997 while Lalu Prasad faced corruption charges. The war of words between the two rivals has intensified, with the RJD accusing Kumar of losing his mental balance and being unfit to rule.
Both Houses of Parliament were adjourned for the day after repeated disruptions amid uproarious scenes as members of treasury and opposition benches traded charges on the Soros and Adani issues.
The Punjab Assembly on Monday unanimously passed a resolution to not release any water from its share to Haryana, citing the state's water scarcity. The resolution also demanded the reorganization of the Bhakra Beas Management Board (BBMB) and the repeal of the Dam Safety Act of 2021. The decision comes amid a stand-off between the two states over the distribution of water from the Bhakra dam. The resolution was moved by Punjab's Water Resources Minister Barinder Kumar Goyal, who accused the BJP of trying to take away Punjab's water rights. The resolution was supported by all parties, including the opposition, which termed the Dam Safety Act of 2021 as an "attack" on the rights of Punjab. The resolution also criticized the BBMB, calling it a "puppet" of the BJP-led central government. The Punjab government maintains that the state does not have surplus water to spare and needs it for the upcoming paddy sowing season. The resolution has triggered strong reactions from the BJP, which has accused the Punjab government of politicising the issue.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Rajya Sabha proceedings were adjourned for the day on Wednesday afternoon without transacting any business amid uproar by treasury and opposition benches over the no-trust notice against the House Chairman and the George Soros issue.
Gold prices could hit the $3500 an ounce (oz) mark in the next 18 months - up around 13 per cent from the current levels - given the global uncertainties and aided by investment demand, said analysts at BofA Securities in a recent note. Uncertainty around Trump Administration trade policies, BofA said, could continue to push the US dollar (USD) lower, further supporting gold prices near-term.
The Rajya Sabha witnessed an uproar on Tuesday over an unparliamentary remark by Leader of Opposition Mallikarjun Kharge, who apologized to the Chair while clarifying that it was meant for the government that was "trying to create a regional divide" in the country. The controversy stemmed from a statement by Education Minister Dharmendra Pradhan, who slammed the Tamil Nadu government for its stand on the three-language policy under the National Education Policy (NEP). Kharge's use of a Hindi expression, deemed unparliamentary, sparked outrage from the treasury benches. He subsequently apologized for the remark, stating it was directed at the government's policies and not the Chair.
The United States Department of Government Efficiency (DOGE), led by Elon Musk has announced cancelling a $22 million funding intended for 'voter turnout in India' on Saturday (Local Time).
Yellen, 74, was confirmed by the Senate in a broad bipartisan support of 84-15 votes on Monday. Both the Democratic and the Republican parties have 50 members in the 100-seat Senate.
The United States has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia's military-industrial base.
A students' organization in Madhya Pradesh has demanded an inquiry after a woman, recently selected in the government service in the disabled quota, was seen dancing in a viral social media video. The woman, however, denied any irregularity in her appointment, claiming that she suffers from 45 percent disability due to bone-related problems. She stated that she is able to walk and even dance for short periods due to implants from surgery following a serious hip injury.
Lok Sabha Speaker Om Birla on Thursday said that Trinamool Congress MP Kalyan Banerjee has submitted a written apology for his remarks against Union Minister Jyotiraditya Scindia besides apologising in the House.
Parliament's approval of the Waqf (Amendment) Bill, a contentious piece of legislation aimed at reforming Waqf bodies, has sparked strong reactions from the opposition, who allege that the bill was "bulldozed" through Parliament. The bill, considered the government's most consequential legislation in its third term, was passed with comfortable majorities in both the Lok Sabha and Rajya Sabha despite opposition claims of a lack of consultation and an intrusion into religious affairs. Other notable bills approved during the session included the Finance Bill, Appropriation Bill, Immigration and Foreigners Bill, and Tribhuvan Sahkari University Bill. The session, which saw high productivity, also witnessed debates on issues such as economic distress, delimitation, and the three-language policy. While the government touted its achievements, the opposition criticized the government's approach and vowed to challenge the Waqf bill in court.
Tamil Nadu Chief Minister and DMK president M K Stalin announced that his party will file a case in the Supreme Court against the Waqf Bill passed in the Lok Sabha. The opposition AIADMK expressed solidarity with the DMK's stance, while the BJP members staged a walkout from the Assembly in protest. The CM argued that the amendment was passed at the behest of a few allies despite opposition from majority parties and that it is an attack on the Constitution and religious harmony. The DMK claims the bill threatens the autonomy of the Waqf Board and the Muslim minority population.
'The bull market cycle ran for five years. It's the end of that cycle.' 'The next cycle is a down cycle, and in that down cycle, you will see the Sensex falling from their highs of around 68,000 to maybe 40,000-50,000 at the bottom of the cycle.'
IndusInd Bank on Tuesday fire fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses. IndusInd Bank CEO and managing director Sumant Kathpalia said that the accounting lapse was noted around September-October last year and the bank gave a preliminary update to the RBI about this last week.
IndusInd Bank on Tuesday fire-fought the fallout of a Rs 2,100 crore discrepancy in accounting, saying it has enough reserves and capital to cover for it, but the management's assurance failed to arrest the free fall of shares which tanked over 27 per cent on the bourses.
In response to the panic triggered by Trump's trade policies, the RBI net sold approximately $43 billion in the second half of FY25 to curb volatility, as the rupee plunged to a low of 87.95 per dollar in February this year.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
Indo-Canadian Anita Anand and Delhi-born Kamal Khera are part of new Canadian Prime Minister Mark Carney's cabinet. Anand is the Minister of Innovation, Science and Industry while Khera is Minister of Health. Carney's cabinet with 13 men and 11 women is smaller than Trudeau's 37-member team.
Prime Minister Narendra Modi took a jibe at Leader of Opposition Mallikarjun Kharge in Rajya Sabha on Wednesday, saying the poem that Kharge recited to criticize the BJP government was written during the reign of Congress. Modi also read out a poem written by renowned Hindi poet Gopaldas Neeraj to attack the Congress.
The deportation of Indians from the United States, deaths in the Maha Kumbh stampede and the joint Parliamentary committee report on the Waqf bill were among the issues that led to heated exchanges and some disruptions in an otherwise smooth first part of the Budget session that ended on Thursday.
The reopening of the Ratna Bhandar became a major political issue during the recently held assembly elections in the state.
Geithner had told President Barack Obama that he would leave his cabinet by this summer as his family has moved to New York.
A BJP MP from Nagaland has alleged that Congress leader Rahul Gandhi came "very close" to her and "shouted" at her during a protest outside the Parliament, making her feel "uncomfortable." The incident has led to a war of words between the ruling BJP and the opposition Congress, with both sides accusing each other of misconduct. The BJP has demanded an apology from Rahul Gandhi, while the Congress has denied the allegations.
Let us travel to Kerala with the Ishq Vishk girl.
The liquidity deficit in the banking system crossed Rs 2 trillion again on Monday, despite the second instalment of cash reserve ratio (CRR) reduction coming into effect from December 28.
If Beijing succeeds in this multipronged effort to challenge the current dominant power, it will have not just economic but political and security consequences. There is no let-up in the South China Sea nor any de-escalation moves on the India-China border. This portends to ominous signalling from Beijing, observes China expert Srikanth Kondapalli.
On Wednesday, protests erupted across the United States in response to President Donald Trump's recent actions.
From the 30-share Sensex blue-chip pack, Tata Steel, Zomato, Larsen & Toubro, Tata Motors, Adani Ports, Tata Consultancy Services, HDFC Bank and NTPC were the major laggards. Nestle, Hindustan Unilever, Mahindra & Mahindra, Kotak Mahindra Bank, Asian Paints and Bharti Airtel were among the gainers.
The Lok Sabha, India's lower house of Parliament, will debate the contentious Waqf (Amendment) Bill on Wednesday. The bill has been met with strong opposition from several parties who claim it is unconstitutional. The government, however, insists the bill aims to improve the management of Waqf properties in India by bringing transparency and efficiency.
Co-location attracts institutional investors, which drives volumes for long-dated options, with higher realisations at lower costs.
Foreign investors have pulled out Rs 22,420 crore from the Indian equity market so far this month, owing to high domestic stock valuations, increasing allocations to China, and the rising US dollar as well as Treasury yields. With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of Rs 15,827 crore in 2024 so far. As liquidity tightens, FPI inflows are expected to remain subdued in the short term.
'Expect FPIs to continue selling for several months until the rupee stabilises.'
After a brutal selloff since October, foreign portfolio investor (FPI) flows for the year-to-date (YTD) in 2024 have turned negative. In early September, YTD FPI investments peaked at a record Rs 22,000 crore ($2.6 billion). This wave of selling has also pulled down benchmark indices, with the Nifty's YTD returns declining to 11 per cent from their high of 21 per cent in September.
The former chief minister said the BJP government is getting excavation done at various places to hide its failure and to divert attention from the issues related to the public.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
China sits on a mountain of United States treasury debt, reinforcing its position as the world's number one holder of US treasury securities with a total of $895.2 billion. China's foreign exchange reserves too stood at a mammoth $2.45 trillion at the end of March 2010.
