Category: Market

As the Unified Payments Interface (UPI) goes global, the US private banks might explore connecting with India’s unique digital payments solution, Federal Reserve Governor Christopher Waller said here on Wednesday, adding that cross-border payment interlinking is one of the key areas outlined in the G20 roadmap.

Weakness was seen in the midcap and smallcap stocks compared to largecap stocks. Nifty midcap 100 index was up 42 points or 0.07 per cent at 59,263 and Nifty smallcap 100 index was up 56 points or 0.29 per cent at 19,389.

At closing, Sensex was at 81,711 with a slight gain of 13.65 points and Nifty closed at 25,017 with a gain of 7 points. It is the second consecutive day when the National Stock Exchange (NSE) benchmark closed above 25,000.

Indian equity indices opened strong on Friday following positive global cues, including optimism around a potential rate cut by the US Federal Reserve next month.

The growth outlook across sectors remains robust in India, especially in the industrials and capex segments, where government spending remains strong, a report showed on Tuesday.

The country is emerging as a top destination for foreign investment in the manufacturing sector and in the last decade, foreign direct investment (FDI) inflows in the sector surged almost 69 per cent to reach $165.1 billion, according to the government.

Buying was also seen in the smallcap and midcap. The Nifty midcap 100 index rose 493 points or 0.87 per cent to 57,174 and the Nifty smallcap 100 index rose 102 points or 0.56 per cent to 18,410.

India is projected to surpass China this year to become the world’s largest two-wheeler (2W) market, a report said on Friday. The robust economic growth, consumer preference for 2Ws for short-distance commutes, and increasing 2W demand in the shared mobility space will help India overtake China, according to Counterpoint Research.

The National Stock Exchange (NSE) on Thursday said the unique registered investor base on the exchange has crossed the ten-crore mark for the first time.

All 30 stocks in the Sensex pack opened in the green. Infosys, M&M, Maruti Suzuki, Wipro, Tech Mahindra, JSW Steel, Tata Steel and UltraTech Cement are the top gainers.

The Indian benchmark indices roared back on Tuesday after a dismal Monday, as Sensex surged more than 900 points and Nifty traded nearly 300 points up in the early morning trade.

Adani Energy Solutions Ltd (AESL) on Monday announced it has successfully raised Rs 8,373 crore ($1 billion) via the qualified institutional placement (QIP) route, the largest in the country's power sector. 

India, the world’s third-largest importer of crude oil, stands to gain as oil prices have fallen to an eitht-month low at $75.8 a barrel in the international market, with a more than $4 a barrel decline since Friday as the slowdown in the US and Chinese economies have raised fears of dampening demand.

Heavy selling pressure was seen in all major Asian markets. Japan crashed by 10 per cent, Seoul tumbled over 8 per cent, Taipei fell by 4.43 per cent, Jakarta was down nearly 2 per cent, Hong Kong and Shanghai were down 1.43 per cent and 0.83 per cent) respectively.

At closing, Sensex ended at 81,867, up 126 points or 0.15 per cent and Nifty was up 59 points or 0.24 per cent at 25,010. It was the first time in the Indian stock market history that the Nifty closed above 25,000.

Adani Enterprises Ltd (AEL) on Thursday reported a robust net profit of Rs 1,458 crore in the April-June quarter, an impressive 116 per cent growth from the same quarter last fiscal.

Adani Ports and Special Economic Zone (APSEZ) on Thursday posted the highest-ever net profit at Rs 3,107 crore (up 47 per cent year-on-year) along with record EBITDA at Rs 4,848 crore for the quarter that ended June 30.

Buying is also seen in the midcap and smallcap stocks. The Nifty midcap 100 index is up 213 points or 0.36 per cent at 59,222 and the Nifty smallcap 100 index was at 19,227, up 90 points or 0.47 per cent.

Adani Wilmar Limited on Monday posted strong profits with the highest-ever PAT of Rs 313 crore in the April-June quarter (Q1 FY25), as revenue reached Rs 14,169 crore, a 12 per cent volume growth (year-on-year).

The money from Indians working overseas that come into NRI deposits of banks surged more than 4-fold to $2.7 billion in April-May this year compared to $0.6 billion in the same period last year, strengthening the country’s foreign exchange reserves, the latest data compiled by the RBI showed.

The Indian benchmark indices on Thursday saw a sharp rally over renewed buying in IT stocks, ending up for the fourth straight session while touching a new all-time high. 

More than 77 per cent of Indian startups now invest in advanced technologies such as artificial intelligence (AI), machine learning (ML), internet of things (IoT) and blockchain, a report showed on Thursday.

India’s automobile exports clocked a robust 15.5 per cent growth in the April-June quarter of the current financial year compared to the same period in the previous year, according to data compiled by the Society of Indian Automobile Manufacturers (SIAM).

India’s defence exports have recorded a 30-fold quantum leap over the last 10 years from a mere Rs 686 crore in the financial year 2013-14 to a record Rs 21,083 crore in FY 2023-24, reflecting the global acceptability of Indian defence products and technologies.

The Indian equity market experienced one of the best weeks of 2024, with the Nifty and Sensex reaching all-time highs of 24,592.20 and 80,893.51, respectively, before closing at 24,502.15 and 80,519.34.