China had been trying hard to enter the Indian market, without opening its own to Indian products. There is an economic crisis in India-China relations that the Chennai Connect barely scratched the surface, points out Srikanth Kondapalli.
ONGC was the top performer while private banking major ICICI Bank extended gains
Markets closed the day in green on favourable domestic factors,
'The question is, how soon we can expect to re-attain the pre-lockdown levels of output and income.'
The GST rate for the sector has not yet been finalised by the government.
'The real lifting of the economy will happen only if this momentum sustains in the coming months.'
The 30-share S&P BSE Sensex ended up 130 points at 25,400 and the Nifty50 rose 46 points to close at 7,759.
The improvement in business conditions promoted job creation, while confidence towards the year-ahead outlook for activity was at a four-month high during March.
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
Indications of a revival in domestic demand emerged on Monday, with the monthly ABN Amro Purchasing Managers' Index crossing 50 for the first time since October 2008.
It is the rupee's biggest single-day gain this year.
The department for promotion of industry and internal trade has asked the telecom department and State-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up the 4G network.
Banking stocks felt the heat due to worries that the lending rate cuts will hit their bottom line
Services growth at 5-month low in Nov as confidence slumps.
UN economists announced a likely USD 50 billion drop in the worldwide manufacturing exports in February alone as the extent of the damage to the global economy caused by the novel coronavirus (COVID-19) moved further into focus. Citing the China Manufacturing Purchasing Manager's Index (PMI), Pamela Coke-Hamilton, who heads UNCTAD's Division on International Trade and Commodities, said that it had fallen to 37.5 -- a drop of about 20 points -- the lowest reading since 2004. "This also correlates directly to exports and also implies a two per cent drop in overall exports," she said, with a resulting "ripple effect" worldwide "to the tune of a USD 50 billion fall in exports."
Risk sentiment is likely to be favourable if oil prices stay benign, global growth sentiment remains robust and the dollar index does not break out, says B Prasanna.
The Chinese economy is not collapsing, it is shifting to different growth drivers which the old metrics used to judge China do not pick up.
A reading below 50 means contraction in the sector.
Standard Chartered on Friday lowered India's growth forecast for the current financial year to 4.7 per cent from earlier 5.5 per cent, citing "upside risks" to inflation and fiscal deficit.
A reading above 50 represents expansion while one below means contraction.
The NSE Nifty, however, ended a shade higher by 6.65 points or 0.06 per cent at 10,442.20
A reading below 50 means contraction in the sector.
Financials emerged as the top gainers while auto shares rallied on robust September sales
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
The 30-share Sensex closed down 115 points at 28,444 and the 50-share Nifty ended down 31 points at 8,524.
In the offshore non-deliverable forwards, the one-month contract was at 62.26/36, while the three-month was at 62.83/93.
Bank of America Merrill Lynch believes this would ease pressures on CAD as $10 a bbl fall in oil price reduces CAD by $8 billion or 0.4 per cent of GDP.
Growth in the eight core sectors jumped to 8.5% in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation.
One of India's main export destinations, the euro zone, is struggling to revive its economy and battling disinflation.
Large investors track high-frequency data that is immediately available today. That data has been bullish, points out Debashis Basu.
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
Indian Prime Minister Narendra Modi who envisioned Make In India last September was at his eloquent best as he made a fervent plea to global businesses to come Make In India.
.jpg)
Likely to set the ball rolling for Rs 1.72-lakh-cr projects today
The index went below the crucial 50 mark.
Traders are waiting for the earnings season to kick off.
The NITI Aayog's vice-chairman's charge holds ground.
The HSBC Emerging Markets Index, a monthly indicator derived from the PMI surveys, inched up to 50.4 in April, from 50.3 in March, signalling only a marginal increase in output across global emerging markets in April.
IDS-2 and raids to uncover black money stash keep receipts flowing
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
The S&P BSE Sensex ended 46 points lower at 24,824 and Nifty50 settled at 7,555, down by 8 points after hitting intra-day high of 7,600.45.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances