Indian imports of Russian crude oil may stabilise or even decline in 2024 from record 2023 levels amid shrinking discounts, lower output, and a rebound in West Asian supplies, according to the ship-tracking data and industry executives. This may impact the billions of dollars in annual savings that India made last year. Imports of Russian oil jumped by a record 140 per cent in calendar 2023 to 1.79 million barrels a day (b/d) from 740,400 b/d in 2022, when Russia marched into Ukraine in February, and from just 102,000 b/d in 2021, according to the data from Paris-based market intelligence agency Kpler.
In 50 days, 60% of the work force was let off in retail, agri, textile and other sectors.
India has imposed several restrictions on imports of gold, the biggest non-essential import item, to curb a record trade deficit.
He was first called by the federal agency to appear on November 2, but he did not depose alleging that the notice was "vague, motivated and unsustainable in law".
Samajwadi Party president Akhilesh Yadav on Friday attacked the Uttar Pradesh government over the death of a Kanpur businessman in a police raid, claiming that the case is linked to an extortion racket and "someone" is trying to save himself.
To restrict onion exports and help cut prices in the domestic market, the government had gradually raised the MEP to $1,150 a tonne from $650 a tonne a few months earlier.
Two traders - Jindal Steel and Power Ltd and GMR Energy Ltd - have already surrendered their licences.
Ahsan Ullah Khan, the additional district and session judge of the MP-MLA court in Sonbhadra, also imposed a fine of Rs 10 lakh on Gond which would be used in the rape survivor's rehabilitation.
The BSE has decided to move the expiry day of Bankex derivatives contracts from Friday to Monday, effective October 16, the bourse said on Wednesday. "New contracts of S&P BSE Bankex with Monday expiry will be generated on October 13, 2023, and will be available for trading with effect from October 16, 2023," the BSE said, citing the decision was based on the market feedback. The expiry of Sensex derivatives contracts will continue to be on Friday.
Considered one of the most prolific traders in London's financial circles, Rajesh Gill, 37, studied at Harvard and the London School of Economics and used to make over 100 transactions a day, The Daily Telegraph reported on Thursday.
Nearly 90 per cent of the stocks comprising the National Stock Exchange Nifty 500 Index and 49 of the 50 stocks that make up the Nifty50 are trading above their respective 200-day moving averages (DMAs). The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally, while those trading below this level are viewed as bearish, with the stock/index expected to see a selloff.
Bootstrapping has put Nithin Kamath of Zerodha in a position where he can trifle with talk about valuation, points out Suveen Sinha.
A Pakistani court has directed three men to drop the Indian high commission from the list of respondents in their petition seeking protection from authorities after reports in the Indian media described them as operatives of the banned Lashkar e Tayiba. The Lahore high court directed the three men -- traders Mehtab Butt and Atif Butt and security guard Babar Shabbir -- to file an amended petition after deleting the name of the Indian mission from the list of respondents
The CBI had on Sunday deferred his questioning after he sought time from the agency citing the Delhi government's ongoing budget exercise.
Tomato prices are likely to touch Rs 300 per kilogram in the coming days and the prices of vegetables are also on the rise, according to wholesale traders. Kaushik, a member of Agricultural Produce Marketing Committee (APMC), said that vegetable wholesalers are facing losses as the sale of tomato, capsicum, and other seasonal vegetables has fallen drastically. He said that the prices of tomatoes have shot up to Rs 220 per kilo from Rs 160 per kilo in the wholesale market, owing to which retail prices can also go up.
Kweku Adoboli, a 31-year-old trader at UBS based in London makes Nick Leeson, once-legendary rogue trader at Barings Securities look like an amateur.
Geopolitical headwinds leading to lower demand from export markets, coupled with lower domestic buying, have dragged the auction average of Darjeeling tea to its lowest level since 2015. Data from Calcutta Tea Traders Association (CTTA) shows that the average price of Darjeeling tea at Kolkata auctions for January-December 2023 was Rs 319.74 per kg. The last time it dipped below this level was in 2015 at Rs 285.71 per kg.
If states have to fall in line with MSPs declared by political parties, they will have to do so in violation of central order or bear the full expense of the surplus procured at above MSP rates.
The government on Friday proposed hiking the securities transaction tax on Futures & Options (F&O) contracts, a move that will increase the trading costs in the derivatives segment as well as help in curbing excessive trades. In the Finance Bill 2023, passed by the Lok Sabha on Friday, the Securities Transaction Tax (STT) on options is proposed to be increased to 0.0625 per cent from 0.05 per cent and on futures contracts to 0.0125 from 0.01 per cent. Analysts opined that higher STT will shore up the government's revenues to some extent and also discourage excessive trading since a large number of retail traders are losing money in the segment.
The Supreme Court on Friday ordered the transfer of trial in the death case of a Kanpur-based businessman in which six policemen have been charged with murder to a CBI court in Delhi after the Uttar Pradesh government said that it has no objection to it.
Finance Minister Arun Jaitley in the Budget for 2016-17 had proposed 1 per cent excise duty on jewellery without input credit or 12.5 per cent with input tax credit on jewellery.
'In case the El Nino pattern plays out negatively and/or the political situation becomes messy, we may see markets correcting and waiting for the situation to become clear by early/mid-2024.'
According to data released by the Sikkim commerce and industries department in Gangtok, utensils including copper bowls fetched a revenue of Rs 900,000 for Indian traders during four months of trade at the Renquinggang mart. Other products like black tea, textiles, woollen shawls, canned food, vegetable oils and cigarettes were in demand from importers.
The traders' community in Thiruvananthapuram district has stepped up fight against the entry of big retail players into the state.
Diamond traders here are floating a company to facilitate direct procurement of rough diamonds from the mining countries.
The banking system liquidity bounced back to surplus mode after three weeks, the Reserve Bank of India (RBI) data showed. This was due to government spending, according to dealers. The liquidity situation could further ease with the disbursement of the last tranche of incremental cash reserve ratio (I-CRR) worth Rs 50,000 crore on Saturday.
A 31-year-old staffer was arrested in the early hours of Thursday for causing a $2-billion loss to Swiss investment banking giant UBS on account of unauthorised trading at the bank's London office.
The strike call is against the imposition of local body tax and local panchayat tax that the Maharashtra government had imposed in lieu of Octroi.
Bharti Airtel was the biggest gainer in the Sensex pack, rising 2.37 per cent, followed by Mahindra & Mahindra, HCL Tech, Tata Motors, Tech Mahindra, HDFC Bank, Wipro, Tata Consultancy Services, Axis Bank and Nestle. Asian Paints, Hindustan Unilever, Bajaj Finserv and NTPC were among the laggards.
Day trading in stocks is a dangerous affair. Here are 10 rules that a first time stock market day trader must follow to avoid making losses.
Addressing an election meeting on what once was the home turf of slain gangster-politician Atiq Ahmed, Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday appeared to invoke nature as a great leveller -- a force that delivers justice.
India is all set to train a large number of cotton traders from African countries from Tuesday.
The police seized a huge quantity of explosives and banned firecrackers during raids in different locations in rural West Bengal and arrested at least 100 people for their alleged involvement in running illegal manufacturing factories, a senior state police official said on Tuesday.
Two Indian traders, who were held-up in China for several months over allegations of non-payment of dues to Chinese businessmen, have been sent back to India after intense diplomatic efforts.
Traders in India, the world's largest gold consumer, were stocking up on the precious metal on Monday amid fears that a US-led war with Iraq was imminent and could push bullion prices higher, dealers said.\n\n\n\n
The BJP is the preferred choice because it offers what the Mughals and later British offered in their time: A stable polity and an environment in which business could function, explains T N Ninan.
Wouldn't it be better to join the celebrations with the vast Hindu majority while at the same time criticising Mr Modi/BJP/RSS for politicising it? notes Shekhar Gupta.
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