Prime Minister Narendra Modi launched a strong attack on the Congress party, accusing them of being unable to accept their repeated electoral defeats and highlighting the achievements of his government.
The rupee appreciated 53 paise to close at 89.67 against the US dollar on Friday, supported by corporate dollar inflows and easing crude oil prices. Forex traders said a positive trend in domestic equities and Brent crude oil prices hovering near $59 per barrel supported the domestic unit at lower levels.
As the rupee remains under pressure due to several headwinds and the uncertainty around the India-US trade deal, the Reserve Bank of India (RBI) has been stepping in only to calm volatility, not to stop the fall.
India has raised concerns with the United States regarding the cancellation of scheduled H1B visa interviews for Indian applicants due to enhanced vetting measures. Both countries are engaged in discussions to address the disruptions caused by the delays.
The Budget reflects a clear focus on strengthening India's long-term prospects by leaning on nation-building sectors such as infrastructure, manufacturing, and technology while maintaining fiscal responsibility.
From the Sensex firms, Infosys climbed 3.86 per cent. HCL Tech, Tata Consultancy Services, Axis Bank, Kotak Mahindra Bank, Titan and Tech Mahindra were also among the gainers. However, Eternal, UltraTech Cement, Bharti Airtel and Adani Ports were among the laggards.
Deloitte India on Thursday projected India's economy to grow 6.7-6.9 per cent in the current fiscal amid buoyant demand and policy reforms. Indian economy grew 7.8 per cent in the April-June quarter of current fiscal.
The Reserve Bank of India (RBI) on Friday delivered a 25 basis point (bps) repo rate cut analysts expected, driven by the strong 8.2 per cent GDP growth in the September quarter. However, analysts do not expect a runaway market rally as the impact of US tariffs continues.
India's major imports from the US include crude oil and petroleum products, gold and jewellery, plastics, aircraft, and electrical machinery and components. The key exports to the US comprise pharmaceuticals and biologicals, telecom equipment, precious and semi-precious stones, petroleum products, gold and precious metal jewellery, and ready-made garments.
'The bigger unknown remains global geopolitics, which is inherently unpredictable, including developments in our neighbourhood.' 'Another concern is the increasing tilt of government finances towards welfare subsidies, especially at the state level.' 'This could constrain capital expenditure, which is critical for long-term growth.'
Punjab Chief Minister Bhagwant Mann has accused the central government of providing special treatment to gangster Lawrence Bishnoi, who is accused in the Sidhu Moosewala murder case. Mann's criticism comes after Union Minister Amit Shah spoke about gang activities in Punjab.
Indian markets on Dalal Street rallied sharply as easing tensions in the US-Iran conflict and stable oil prices boosted sentiment. Track Nifty 50 and BSE Sensex performance and key global triggers.
'I suspect that Bangladesh being given permission stuck in India's official craw, and this story was an attempt to balance the scales by giving the impression that a similar waiver had been given to India as well.'
Finance Minister Nirmala Sitharaman on Thursday said the government cannot restrain retailers from trading in Futures and Options (F&O) but will definitely create awareness regarding the risks involved in putting money in such instruments.
So far this year, the rupee has fallen by 4.2 per cent, the worst among its Asian peers.
Indian equity markets experienced a significant downturn, with the Sensex and Nifty plummeting due to rising crude oil prices, geopolitical tensions in West Asia, and continuous foreign fund outflows.
Ahead of the visit, officials from key government departments held intense discussions to identify key trade-related proposals.
Gor underlined that President Trump has a "deep friendship" with Prime Minister Narendra Modi, and that is something that is unique.
An Indian commerce ministry team will soon visit Washington for another round of talks on the proposed trade agreement with the US to iron out differences in sectors, like agriculture and automobiles, a government official said on Thursday.
The Reserve Bank on Tuesday proposed greater flexibility to authorised persons to undertake foreign exchange transactions for hedging their exposures, balance sheet management and market-making, as well as to ease reporting obligations, after a review of the current regulations.
'This Budget has a one-year agenda, which you can call the sprint, and the marathon is towards Viksit Bharat.'
Stock markets will be driven by RBI's interest rate decision, tariff-related developments, global trends and trading activity of foreign investors in this holiday-shortened week, analysts said.
Domestic PMI data, US Federal Reserve meeting minutes and the progress on India-US trade deal negotiations are likely to influence movement in the equity market in the week ahead, according to analysts. Moreover, the trading activity of foreign investors would also influence the equity market trends.
'We kept this Budget on a larger plank, rather than on one incident, however serious.'
The ceasefire is still technically holding, to the extent that no overt hostilities have been reported yet, but the rhetoric has hardened dangerously. The week ahead will also clarify whether the Islamabad failure was a negotiating tactic or whether Washington has genuinely locked itself into a position from which the only exits are climb-down, escalation, or the slow bleed of a new status quo that nobody chose and nobody controls. Prem Panicker continues his must read blog on the Iran War.
Satyan Gajwani, chairman of Times Internet Limited and RCB's new co-owner, discusses the significance of American companies investing in IPL franchises like RCB and Rajasthan Royals, highlighting the league's immense growth potential and global appeal.
This is the first case involving India and the US at the WTO after both sides decided to withdraw all seven pending cases at the WTO during the Biden administration.
Very sensitive items -- such as apples, which carry political weight and are closely tied to farmer interests in states like Himachal Pradesh and Uttarakhand -- may face restricted concessions.
Police in Uttar Pradesh have detained another person in connection with a kidney transplant racket, revealing possible international links and involving unqualified practitioners across multiple towns. The investigation has led to several arrests and the shutdown of a hospital.
The big question is whether Trump is any longer in command of the situation. For all practical purposes, the war seems set to cascade as the US is preparing for a potential ground operation in Iran and threatens to destroy 'bridges next, then electric power plants', points out Ambassador M K Bhadrakumar.
'The people of Bangladesh have voted for a party that represents political interest.'
'It is a pro-Liberation party and it believes in the spirit of 1971, as opposed to the Jamaat-e-Islami, which was opposed to the Liberation struggle of Bangladesh in 1971.'
In an event-heavy week, stock investors will track ongoing quarterly earnings, the US Federal Reserve's interest rate decision, and macroeconomic data for market direction, analysts said. Moreover, progress in India-US trade negotiations will remain a key focus for investors, an expert said.
Prime Minister Narendra Modi emphasized the strong partnership between India and the UK, highlighting its importance for global stability and economic progress amidst global uncertainty. Discussions covered trade, defense cooperation, and geopolitical issues.
Gandhi read out Gen Naravane's social media post on X (then Twitter), which said, 'Hello friends. My book is available now. Just follow the link. Happy reading. Jai Hind.'
US President Donald Trump has said that India should not be "dumping" rice into the United States market and he will "take care" of it, while stressing that tariffs will solve the "problem" easily.
The European Union's (EU's) offer to slash tariffs on 97.5 per cent of Indian chemical exports to zero is set to give India's pharmaceutical and medical device firms preferential access to the European markets.
India was being evaluated for a potential weight of around 1 per cent in the index, an allocation that could have translated into $25 billion of inflows, spread over roughly 10 months.
Trump also repeated his claim that seven fighter jets or more were shot down during the hostilities.
Macroeconomic data announcements, global trends and trading activity of foreign investors would be major driving factors for market movement this week, analysts said. Unabated capital infusion by domestic institutional investors have supported the positive trend in the stock market last week, traders said.
The Supreme Court on Tuesday dismissed an appeal of Reliance Industries Limited and two of its officials against a decision of the Securities Appellate Tribunal, which had upheld a penalty imposed by markets regulator Sebi for not making prompt clarification to stock exchange about the Jio-Facebook deal.
