Category: market

Indian equity benchmarks opened at an all-time high on Monday due to Exit Polls predicting a Modi government comeback.

The Goods and Services Tax (GST) collections for May came in at Rs 1.73 lakh crore, a 10 per cent growth (year-on-year), driven by a strong increase in domestic transactions and slowing of imports, the Centre said on Saturday. 

Oil prices declined for a third day in a row in the international market on Wednesday, despite geopolitical tensions, as the US Federal Reserve is not expected to reduce interest rates any time because of the high inflation rate.

The report which has increased the forecast of India’s GDP growth by 0.7 percentage points to 6.9 per cent identifies increased foreign investments as an important factor that is propelling the country’s GDP growth.

Addressing the 'CII Annual Business Summit 2024' in the capital, EAM Jaishankar said the embassies will continue to extend their fullest support to the economic and employment interests abroad.

India has surpassed major countries like Australia, Hong Kong SAR, Japan, Singapore, and Korea becoming the country with the highest data centre capacity of 950 MW in the Asia-Pacific region (excluding China), according to a private report released on Wednesday.

Financial markets play a crucial role in capital mobilisation and allocation, and the stability of government is the first criterion for the Indian stock indices to make a difference to the growing economy, Finance Minister Nirmala Sitharaman said here on Tuesday.

India’s consumer price inflation eased to an 11-month low of 4.83 per cent in April, bringing more relief to household budgets, figures released by the Ministry of Statistics showed on Monday.

India Inc saw robust deal-making activity in April, with three major domestic consolidations by the Adani Group valued at $2 billion, representing 38 per cent of the total deal values, a new report showed on Monday.

As India's digital and less-cash journey gains steam, more and more people are not only purchasing their daily essentials via unified payments interface (UPI) mode of digital transactions but also costly home appliances, high-end gadgets and designer apparels, among other things.

It was former Prime Minister Atal Bihari Vajpayee who announced May 11 as National Technology Day, to commemorate the Pokhran nuclear tests conducted by the Indian Army in Rajasthan in 1998.

Stock exchanges informed their trading members that a special live trading session is scheduled on Saturday, 18th May 2024 together with participating MIIs -- BSE, NSE, ICCL, NCL, CDSL, NSDL, and MSEI. During this special live trading session, mentioned MIIs will perform intra-day switch-over to their respective Disaster recovery site.

India's services sector continued to register robust growth in April on the back of strong domestic and foreign demand, which lifted business confidence to a three-month high, according to an HSBC survey published on Monday.

The Government has cut the windfall tax on crude oil to Rs 8,400 a metric ton from Rs 9,600 with effect from Wednesday as part of its fortnightly revision.

India's gold demand rose to 136.6 tons in the January-March quarter which represents an 8 per cent increase over the same quarter of the previous year, according to figures released by the World Gold Council (WGC) on Tuesday.

While India’s recent growth performance has surprised many, triggering a flurry of upgrades from financial institutions such as the IMF, the RBI bulletin released on Tuesday cites six factors that will propel the country to become the world’s third-largest economy.

BSE Sensex gained more than 300 points on Monday as geopolitical tensions eased and crude oil prices declined.

Intraday, the benchmarks declined nearly 1 per cent amid investor concerns that the West Asia turmoil might escalate to a war. During the day, the Nifty slipped as much as 0.99 per cent to 21,777.65, while the Sensex fell 0.93 per cent to 71,816.46 before bouncing back.

The BSE Sensex is up 42 points and trading at 72,986 points on Thursday. However, tensions in the Middle East and a hawkish stance by the US Fed are likely to weigh on the stock markets, say analysts.

Stepped-up allocations for agriculture, rural employment schemes such as MNREGA and special programmes for women self-help groups have helped to bolster rural demand and create a larger market for industrial products.

The fundamentals of stock exchanges are very strong and the ongoing geo-political situation in the Middle East is not going to have any significant impact on the Indian economy, National Stock Exchange (NSE) MD and CEO Ashish Kumar Chauhan said on Monday.

While the Centre and Opposition may spar over the country’s growth trajectory in the past few decades, there is no denying the fact that the economy logged a significant uptrend during the Modi government, starting from 2014 to 2024.

In order to help meet the high electricity demand in the country during the summer season, the government has decided to operationalise gas-based power plants, the Ministry of Power said on Saturday.

India's foreign exchange reserves went up by $2.98 billion during the week ended April 5 to scale a new all-time high of $648.562 billion, data released by the RBI showed on Friday.

India's foreign exchange reserves rose for a sixth consecutive week to hit a historic high of $645.58 billion for the week ended March 29, according to RBI data released on Friday.