'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.'
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.
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).
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.
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.
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.
Pakistan's Interior Minister Rana Sanaullah on Tuesday said that former prime minister Imran Khan was arrested for causing loss to the national treasury in a corruption case.
The former Bihar Chief Minister was sentenced to five years in prison and slapped a fine of Rs 60 lakh by a special CBI court in Ranchi in connection with the fifth fodder scam case involving embezzlement of over Rs 139 crore by Doranda treasury.
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.
On Wednesday, protests erupted across the United States in response to President Donald Trump's recent actions.
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.
The 18 companies sanctioned include Marshall Islands-registered Changtai Shipping and Motionavigations Limited and UAE-based Indo Gulf Ship Management.
Samajwadi Party MLA Abu Asim Azmi, suspended from the Maharashtra assembly over his remarks praising Mughal emperor Aurangzeb, will be '100 per cent' put in jail, Chief Minister Minister Devendra Fadnavis said in the legislative council.
'Expect FPIs to continue selling for several months until the rupee stabilises.'
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.
Co-location attracts institutional investors, which drives volumes for long-dated options, with higher realisations at lower costs.
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.
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.
Samajwadi Party MLA Abu Asim Azmi was on Wednesday suspended from the Maharashtra legislative assembly till the ongoing budget session ends on March 26, over his remarks eulogizing Mughal emperor Aurangzeb.
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.
The United States has imposed sanctions on 275 individuals and entities, including 15 from India, for allegedly supporting Russia's military-industrial base.
Amid slogan shouting by Congress members, the House witnessed three adjournments.
Trump on February 1 had announced tariffs on major US trading partners Canada, Mexico and China. He imposed a 25 per cent tariff on Canadian and Mexican imports and a 10 per cent on goods from China.
The Real Effective Exchange Rate (REER) of the rupee moderated in December to 107.20 after hitting a peak of 108.14 in November, latest data released by the Reserve Bank of India (RBI) showed. The REER was 103.66 in January 2024. The rupee depreciated around 3 per cent against the dollar in 2024.
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.
BJP MP Nishikant Dubey has written to Lok Sabha Speaker Om Birla seeking initiation of breach of privilege proceedings against Congress leader Rahul Gandhi for making "blatant lies and vilification campaign" during his speech in the House. Dubey alleged that Gandhi used his parliamentary privilege to spread canards without authenticating his charges and distorted historical facts during his speech. Gandhi had claimed that mobile phones were not made in India but only assembled here, China has captured the Indian territory, and India had sent Foreign Minister S Jaishankar to the US to get an invite for Prime Minister Narendra Modi for US President Donald Trump's swearing-in ceremony. He also made allegations related to the electoral rolls for the Maharashtra Assembly polls and the law for the appointment of the elections commissioner. Dubey accused Gandhi of misusing the Constitution's Article 105, which accords privileges to parliamentarians for their comments made inside the Lok Sabha and the Rajya Sabha. He urged the Speaker to initiate proceedings against Gandhi, alleging that Parliament's records and proceedings are a testimony to his irresponsible attitude.
Raising overseas debt has become prohibitively expensive due to the depreciating rupee.
Prime Minister Narendra Modi has lauded the Union Budget as a "people's budget" that fulfills the dreams of every Indian and said that it is a "force-multiplier" that will boost consumption, investment and growth. He highlighted a host of measures for different sectors, including welfare initiatives for gig workers, tax relief for the middle class, and support for the manufacturing sector.
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.
The most striking features of this Budget was its focus on simplification and improving the ease of doing business in India, asserts Kaku Nakhate.
'They want to snatch the land and give it to their friends'
'With a very stable technology with limited functionalities, a large network has spanned out.'
The week's losses wiped out investor wealth worth Rs 18.43 trillion, with the total market capitalisation of BSE-listed firms now at Rs 441 trillion.
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.
US President Donald Trump has imposed tariffs and a travel ban on Colombia after the South American nation refused to accept two American military planes deporting undocumented Colombians. The move comes after President Trump announced mass deportations of illegal immigrants and warned countries of consequences if they refuse to accept them. Colombian President Gustavo Petro, in a post on X, said that the US cannot treat Colombian migrants as criminals and denied the entry of American planes carrying Colombian migrants into Colombian territory. Trump responded by imposing a 25% tariff on all goods coming into the US, a travel ban and immediate visa revocations on Colombian government officials, and visa sanctions on all party members, family members and supporters of the Colombian government. The US also announced enhanced customs and border protection inspections of all Colombian nationals and cargo on national security grounds. In retaliation, Colombia announced a 25% import tariff on American products.
Net NPAs increased to Rs 36,260 crore in the December quarter from Rs 34,843 crore in September and Rs 33,116 crore in December 2023, observes Tamal Bandyopadhyay.
'Of the 20 trading days of January till January 28, FIIs have been selling for 19 trading days'. 'When did FIIs withdraw money with this kind of intensity?' 'It never happened. It's the first. It did not happen even during the 2008-2009 financial crisis when Lehman went under.' 'Even then you did not have like a 19-day selling spree from the FIIs.'
In a first, the Reserve Bank of India (RBI) has announced that it will conduct daily variable rate repo (VRR) auctions on all working days in Mumbai, until further notice. The daily auctions, aimed at easing the current liquidity tightness in the banking system, will begin on Friday, with a notified amount of Rs 50,000 crore.
Foreign investors were net sellers of domestic debt in October for the first time since the official inclusion of Indian government bonds in the JP Morgan bond indices, with net outflow worth Rs 4,697 crore. This marked the second instance in the current calendar year where foreign portfolio investors (FPIs) were net sellers in a month.
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