Foreign investors continue to pull back money from the Indian equity market withdrawing a little over Rs 30,000 crore in the first fortnight of the month amid escalation in global trade tensions. This came following an outflow of Rs 34,574 crore from equities in February and Rs 78,027 crore in January.
From the 30-share pack, Bajaj Finserv, Mahindra & Mahindra, Eternal, Power Grid, ITC, Tata Motors, Asian Paints and Hindustan Unilever were among the gainers. Among the laggards, Kotak Mahindra Bank tanked 4.57 per cent
India's forex reserves jumped $10.87 billion to $676.27 billion during the week ended April 4, the Reserve Bank of India (RBI) said on Friday. The overall kitty had jumped $6.6 billion to $665.4 billion in the previous reporting week.
In the sharpest jump in over two years, the country's foreign exchange reserves increased by $15.27 billion to $653.97 billion during the week ended March 7, the RBI has said. The overall reserves had dropped by $1.78 billion to $638.7 billion in the previous week.
These super-rich Indians intend to reside in their chosen host country permanently while retaining their Indian citizenship.
Mayank Yadav is set to walk into the IPL 'Million Dollar Club' after making his international debut in the first T20 International against Bangladesh.
Global trends, macroeconomic announcements and US tariff developments are expected to drive stock markets in a holiday-shortened week, analysts said. Market participants will also closely track foreign investor activity, geopolitical tensions, and their impact on the US dollar and crude oil prices, they added.
Global trends, tariff-related updates and trading activity of foreign investors would be the key drivers for the equity market movement this week, analysts said. Markets witnessed a strong rebound last week, with the benchmark indices surging over 4 per cent.
The Trump administration has revoked Harvard University's eligibility to enrol foreign students, raising concerns over the legal status of thousands of students, including nearly 800 from India, currently enrolled at the varsity.
618 companies were part of the billion dollar club when the markets reached all-time highs on September 26, 2024. That number has fallen to 500 following a $1 trillion wipeout in India's market capitalisation amid relentless selling by FPIs.
The controversy followed after another Madhya Pradesh minister, Vijay Shah, came under fire for remarks about Col Sofiya Qureshi who conducted media briefings on Operation Sindoor along with Wing Commander Vyomika Singh.
India on Friday called on the International Monetary Fund (IMF) to reconsider its $1 billion assistance to Pakistan, suggesting that Islamabad could use it for terror funding.
India's forex kitty jumped $6.596 billion to $665.396 billion during the week ended March 28, the RBI said on Friday. In the previous reporting week, the overall reserves rose by $4.53 billion to $658.8 billion, the RBI said on Friday.
Drawing comparisons with other professional sports, Moses said track and field athletes have missed out on the financial boom due to the lack of a players' union.
Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by the Reserve Bank of India (RBI), is not intended to replace any international currency.
Sun Pharma, Tata Steel, State Bank of India, Axis Bank, Tata Motors, Larsen & Toubro and ICICI Bank were also among the Sensex gainers. HCL Tech, UltraTech Cement, Nestle and Hindustan Unilever were among the laggards.
India's strikes on Pakistan damaged runways and structures across at least six airfields, according to a visual analysis by The Washington Post, which experts said were the most significant attacks of their kind in decades of simmering conflict between the two nations.
Reserve Bank Governor Sanjay Malhotra on Saturday said that the market forces decide the value of rupee with respect to the US dollar and the central bank is not worried about day-to-day movement of the currency value.
Commerce Minister Piyush Goyal's scathing remarks on Indian startup ecosystem and its innovation priorities have drawn sharp reaction from the industry, with Zepto CEO Aadit Palicha putting up a strong defence citing the company's contribution to jobs, FDI and terming it a "miracle in Indian innovation".
United States President Donald Trump has once again held out the threat of tariffs to BRICS (Brazil, Russia, India, China, South Africa) nations if they try to replace the US Dollar with any other currency.
Gold prices rose by Rs 70 to hit yet another record high of Rs 98,170 per 10 grams in the national capital on Thursday amid firm global demand, according to the All India Sarafa Association. On Wednesday, the precious metal of 99.9 per cent purity soared by Rs 1,650 to hit an all-time high of Rs 98,100 per 10 grams.
Global fund managers witnessed one of their largest-ever declines in assets under custody (AUC) during the ongoing correction in the Indian markets, as stocks came under pressure from foreign outflows and the weakening rupee.
The country's forex reserves jumped by $4.53 billion to $658.8 billion during the week ended March 21, the RBI said on Friday. In the previous reporting week, the overall reserves had increased by $305 million to $654.27 billion.
'Every decision India makes along the LoC, it must also consider implications along the LAC.'
The US involvement in Ukraine and the Middle East is a distraction which has to end quickly so that the main business of China can be focussed on. China is America's only peer competitor, not Russia and not anybody else. Therefore it makes little sense to be diverted from the overall mission, explains Aakar Patel.
India registered its protest at the board of IMF, which met on Friday to review the EFF lending programme for Pakistan.
'When one air force (India's) hits the other's airbases with impunity and that air force (Pakistan's) is not able to respond, then the air force, which has put the other's airbases out of commission, has won.'
Reserve Bank Governor Sanjay Malhotra on Friday said the exchange rate policy has remained consistent over the years and the central bank does not target any 'specific level or band' of the rupee, which slipped to an all-time low of 87.59 to a US dollar. On Thursday, the rupee plunged 16 paise to close at a record low of 87.59 against the American currency. "I would like to mention here that the Reserve Bank's exchange rate policy has remained consistent over the years.
'The lesson Beijing would have learned is that there is, cost-benefit wise, no better option than to keep the Pakistan military supplied with its most advanced armaments, certain that in hostilities with India these would be used for maximum effect.'
In all, seven countries have expressed interest in hosting future Commonwealth Games with five of those focused on staging the centenary edition.
Thousands of protesters are out on the streets of Istanbul after the arrest of the city's mayor Ekrem Imamoglu.
India is working closely with Belgium to extradite fugitive diamantaire Mehul Choksi, who was arrested in Antwerp on Saturday based on a formal request from the Indian government. Choksi is wanted by Indian probe agencies in connection with a Rs 13,500-crore bank loan fraud case involving the Punjab National Bank (PNB). His nephew, Nirav Modi, is also facing extradition proceedings in the UK.
While growth in India is largely domestic and hence the overall GDP effect may not be more than 0.15-0.2%, but overall trade will be impacted due to every country going back to the drawing board, points out Madan Sabnavis.
'He has been one of the clearest thinkers in the history of business.'
Stock markets will be driven by further developments on the US-China tariff war front along with quarterly earnings announcements from IT majors Wipro and Infosys in a holiday-shortened week, analysts said. Global market trends and trading activity of foreign investors would also dictate market movement this week, experts noted.
The country's forex reserves increased by $305 million to $654.27 billion during the week ended March 14, the RBI said on Friday. In the previous reporting week, the overall reserves rose by $15.27 billion to $653.97 billion and registered the sharpest weekly rise in two years.
'India won't take anything from Pakistan lying down.'
In a significant policy announcement from the Oval Office, President Donald Trump has declared a 25 per cent tariff on all imported vehicles entering the United States, a move he described as "very exciting" for domestic manufacturing. The tariffs, set to take effect on April 2, will impact nearly half of all vehicles sold in the United States, including American brands assembled overseas.
The government, in the forthcoming Budget, could consider levying higher tariffs on imports to check the significant decline in rupee value witnessed in the past few months, said EY Chief Policy Advisor DK Srivastava. The noted economist argued that higher import duties would curb the demand for dollars from importers and help arrest the sliding value of the rupee, which touched a historic low of 86.70 to a dollar on January 13.
India's forex reserves dropped by $1.78 billion to $638.7 billion in the week ended February 28, the RBI said on Friday.
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