All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC. According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.
Despite no change in interest rates, India's largest lender, State Bank of India, last week became among the latest to lower deposit rates, often a precursor to lower lending rates, something some banks have already done for certain consumer loans.
In other debt-oriented funds, retail assets jumped from about Rs 45,000 crore to Rs 64,000 crore.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Prime Minister Narendra Modi on Friday urged bureaucrats to make national interest the sole basis of their every decision, saying the country has put its faith in them and they must uphold that trust.
Jaitley slammed lack of ethics in certain sections of businesses and said multiple layers of auditing system chose to either look the other way or did a casual job.
Sectors throw up a wishlist for the Finance Minister.
Investors' wealth has jumped Rs 9,57,201.52 crore in the last three days of rally in equity market as stocks continued to march higher amid the Budget-led euphoria. The 30-share BSE benchmark on Wednesday zoomed 695.76 points or 1.18 per cent to settle at 59,558.33 as the post-Budget rally continued. This is the third day of rally in equities and helped by the optimism, the market capitalisation of BSE-listed companies jumped Rs 9,57,201.52 crore to Rs 2,70,64,905.75 crore in three days.
The next round of bad news could come from Europe, where banks in a number of economies such as Italy, Portugal and Greece are sitting on mountains of bad loans.
The demand for minerals, boulders and sand is so great that it has fueled a black market and the goons who control this trade do not hesitate to kill law enforcement officers and reporters who have tried to expose them.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Bond issuances dipped 31.4% during January-June
While PNB did not name the other lenders, Union Bank of India, Allahabad Bank and Axis Bank are said to have offered credit based on letters of undertaking (LOUs) issued by PNB. Foreign bank branches too are under investigation.
Leaders of several opposition parties were stopped by the police at Vijay Chowk in New Delhi as they took out a protest march from Parliament House to hand over a complaint to the Enforcement Directorate on the Adani issue.
The agency said in a statement that a provisional order has been issued under the Prevention of Money Laundering Act "attaching bank accounts of Amnesty International India Pvt Ltd (AIIPL) and Indians for Amnesty International Trust (IAIT)".
Probably in August. We can argue whether RBI is dovishly neutral or neutrally dovish but the telltale signs of at least one more rate cut are strewn all over the policy statement, points out Tamal Bandyopadhyay.
Voting began on Thursday in the by-election to seven assembly constituencies in six states -- a contest symbolic of the fierce turf war between the Bharatiya Janata Party and regional parties.
If foreigners need reasonable taxes, why offer citizens something else? If foreign businessmen look for assurance on the rule of law, so do citizens, argues T N Ninan.
Mihir S Sharma outlines why this year's Union Budget does not respond to the needs of India's economy, or attempt to frame the economy's future.
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
Industry players believe the new DFI model will be initially risk capital, which will then be used to mobilise additional resources from development agencies such as World Bank.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries:
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans.
Hygiene and cleanliness of trains and stations a must
Mahindra MF, which began operations in July 2016, is currently a bit-player and placed 31 among 42 fund houses, with assets under management of about Rs 4000 crore
The Centre has no objection to a proposal for setting up a panel of domain experts to look into strengthening the regulatory mechanisms for the stock market, the Supreme Court was told on Monday while it was hearing pleas relating to the Adani stocks rout after the Hindenburg report.
Altogether 20,000 Indian nationals have been evacuated from quake-torn Nepal and arrangements were being made to take them to their homes by trains from Raxaul, Petroleum Minister Dharmendra Pradhan said on Tuesday.
Further stimulus measures are expected in the upcoming Budget where the focus is likely to be on reforms, including some structural measures such as reducing red tape and boosting foreign direct investment. The meeting with industrialists is in the series of discussions that Modi has had during the last couple of weeks to seek suggestions to revive growth.
Investors have become poorer by over Rs 10.36 lakh crore in the last four trading sessions as the domestic equity benchmarks extended their losses amid weak global trends. The Sensex and Nifty closed in the red for the fourth straight session on Friday amid continued selling by foreign institutional investors. The BSE Sensex ended 427.44 points or 0.72 per cent lower at 59,037.18.
The rupee depreciated further by 13 paise to hit a new life-time closing low of 82.30 against the US dollar on Friday as a firm American currency and risk-averse sentiment among investors weighed on the local unit. Moreover, a negative trend in domestic equities and elevated crude oil prices sapped investor appetite, forex traders said. At the interbank foreign exchange market, the local currency opened at 82.19, then fell further to 82.43. It finally settled at an all-time low of 82.30 against the American currency, registering a decline of 13 paise over its previous close.
Use of Aadhaar on Skype Lite and LinkedIn will allow Microsoft to bring on board millions in small towns and rural areas lacking e-mail IDs, reports Sheetal Agarwal.
As per the 2011 census, 31 per cent population in the country lives in urban areas.
The final hearing in the case at the London magistrate's court to extradite Mallya to India is scheduled later this month.
Sun Pharma was the top gainer after SPARC received Sebi nod to raise up to Rs.250 crore through a rights issue
One smells a rat when cases are settled for too small a price offered either by the highest bidder or the promoter -- within and outside the legal ambit of insolvency process, observes Tamal Bandyopadhyay.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
On BSE, 1,826 shares declined and 982 shares rose, while a total of 194 shares were unchanged
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Overall, small savings have amassed Rs 1.17 trillion from April-September - 26 per cent more than the previous year. But in those six months, the economy lost 24 per cent in the first three months, and is slated to lose 10 per cent in the second quarter.
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