DailyWorld News - The First International Newspaper From India https://dailyworld.in/ Fri, 19 Sep 2025 06:47:50 +0530 en https://dailyworld.in/market/stock-market-rises-for-3rd-consecutive-day-on-us-fed-rate-cut-buying-in-it-sector-639255.html Mumbai Sep 18 The Indian equity indices extended the gaining momentum for the third consecutive session on Thursday amid buying in IT stocks after the US Fed announced a rate cutSensex closed at 8301396 up 32025 points or 039 per cent The 30share index opened with a decent gapup at 8310892 against the last sessions closing of 8269371 after the US Fed announced a rate cut However the index remained rangebound throughout the session amid a mixed approach across sectors except IT Nifty ended the session at 2542360 up 9335 points or 037 per centGlobal equities traded in the green after the US Federal Reserve cut rates by 25 bps to 4425 per cent and signalled two more reductions this year to cushion rising job market risks Mirroring the upbeat global sentiment Indian markets opened with a positive gapup and maintained a sideways trajectory through the first half of the session Ashika Institutional Equities said in a note Eternal Sun Pharma Infosys HDFC Bank PowerGrid HCL Tech ITC Hindustan Unilever Tata Steel Axis Bank and Bajaj FinServ settled high amid the Sensex stocks Bajaj Finance Tata Motors Trent Ultratech Cement and Asian Paints ended the session in negative territoryThe majority of sectoral indices remained in green amid value buying Nifty Fin Services jumped 135 points or 051 per cent Nifty Bank rose 234 points or 042 per cent Nifty Auto moved up 34 points or 013 per cent Nifty FMCG jumped up 201 points or 036 per cent and Nifty IT surged 303 points or 083 per cent Broader indices continued their bullish run amid buying in midcap and smallcap stocks Nifty Small Cap 100 jumped 53 points or 029 per cent Nifty Midcap 100 increased 224 points or 038 per cent and Nifty 100 ended the session 91 points or 035 per cent highRupee closed weaker by 026 at 8809 despite the dollar index staying soft postFed policy where a rate cut was announced but forward guidance remained mixed as the roadmap for further cuts was unclear and datadependent on jobs said Jateen Trivedi of LKP SecuritiesnbspThe rupee failed to gain as FII sentiment remained cautious while ongoing IndiaUS trade talks will be the next key trigger Support for the rupee lies near 8775 while resistance is seen at 8825 he added IANS https://dailyworld.in/market/stock-market-rises-for-3rd-consecutive-day-on-us-fed-rate-cut-buying-in-it-sector-639255.html Thu, 18 Sep 2025 17:19:00 +0530 https://dailyworld.in/market/gst-rate-cuts-to-result-in-rs-2-lakh-crore-saving-for-consumers-sitharaman-639022.html Visakhapatnam Sep 17 IANS Finance Minister Nirmala Sitharaman on Wednesday said that the reduction in tax rates on goods and services as part of the GST 20 reforms would result in a saving of Rs 2 lakh crore for consumers leaving more money in the hands of the common people for savings or discretionary spendingnbspIn her address at the Outreach and Interaction Programme on Next Gen GST Reforms the Finance Minister said the GST Councils decision is aimed at easing the tax burden on consumers and improving liquidity in the economyShe said that 99 per cent of the goods have now come under the 5 per cent GST slab which will be very beneficial for the middle class and the poor The latest reforms mark a major simplification of the GST structure The shift to a twoslab system of 5 per cent and 18 per cent removing the earlier 12 per cent and 28 per cent rates has resulted in lower taxes and made the structure more transparent and easier to follownbspShe further highlighted that the reforms will boost farmers incomes as well by lowering taxes on agriculturalrelated goods promoting farm modernisationThe Finance Minister said MSME and jobcreating sectors will also benefit through reduced costs providing enhanced opportunities She added that the GST reforms will enhance the purchasing power and contribute to the savings of the common man across the countrynbspSitharaman also highlighted that GST revenues have shot up from Rs 719 lakh crore in 2018 to Rs 2208 lakh crore in 2025 while the number of entities that pay tax has more than doubled to 151 crore from 65 lakh earlierShe said farreaching changes reinforce Prime Minister Narendra Modis vision and dream of achieving Viksit Bharat and Atmanirbhar Bharat Effective from September 22 the GST reforms simplify the tax structure and support economic growth The Finance Minister expressed confidence that the historic tax overhaul will empower every citizen and strengthen Indias economy https://dailyworld.in/market/gst-rate-cuts-to-result-in-rs-2-lakh-crore-saving-for-consumers-sitharaman-639022.html Wed, 17 Sep 2025 17:08:00 +0530 https://dailyworld.in/market/sensex-nifty-open-higher-as-india-us-trade-talks-set-to-resume-638731.html Mumbai Sep 16 The Indian benchmark indices opened higher on Tuesday amid mixed global cues as US Chief Negotiator Brendan Lynch arrived in India to resume trade negotiations between the two nations As of 925 am the Sensex was up 184 points or 023 per cent at 81970 and the Nifty was up 47 points or 019 per cent at 25117The broadcap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 026 per cent and the Nifty Small cap 100 moved up 070 per centKotak Mahindra Axis Bank and Hero Motocorp were the top gainers on NSE Nifty 50 index Titan Company SBI Life Insurance Asian Paints and Tata Consumer Products weighed on the Nifty 50 indexAmong sectoral indices Nifty Media the top gainer jumped 108 per cent Nifty Auto up 065 per cent and Nifty Oil and gas up 057 per cent were the other major gainers Except Nifty FMCG and Nifty PSU Bank which were marginally down all other indices were in the greenAnalysts said that from a technical standpoint a sustained move above the 25160 level could pave the way for a rally toward 25250 and 25500 zones The immediate support lies at 25000 and 24900 zonesThe bold reforms both fiscal and monetary implemented this year have started yielding results and is likely to gather momentum in near future An IndiaUS trade agreement without the penal tariffs can be a shot in the arm for markets said VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedMajor US indices ended firmly in the green zone overnight as the Nasdaq rose 094 per cent the SampP 500 gained 047 per cent and the Dow advanced 011 per centMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index dipped 01 per cent and Shenzhen inched down 026 per cent Japans Nikkei rose 054 per cent while Hong Kongs Hang Seng Index inched up 007 per cent South Koreas Kospi inched up 12 per centThe US markets are pricing in a 964 per cent probability of a 25basispoint rate cut on September 17 with additional cuts expected through yearendOn Monday foreign institutional investors FIIs sold equities worth Rs 1268 crore while domestic institutional investors DIIs were net buyers of equities worth Rs 1933 crore IANS https://dailyworld.in/market/sensex-nifty-open-higher-as-india-us-trade-talks-set-to-resume-638731.html Tue, 16 Sep 2025 10:03:00 +0530 https://dailyworld.in/market/nifty-sensex-open-flat-as-investors-wait-for-fresh-cues-us-fed-meet-outcome-638567.html Mumbai Sep 15 The Indian benchmark indices opened on the flat note with a positive bias on Monday on the back of positive domestic inflation data and growing expectations of a US Federal Reserve rate cut As of 930 am the Sensex was up 45 points or 0005 per cent at 81909 and the Nifty was up 415 points or 0017 per cent at 25118The broadcap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 026 per cent and the Nifty Small cap 100 moved up 053 per centBajaj Finance Tata Motors Hero Motocorp and Bajaj Finserv were the top gainers on NSE Nifty 50 index Infosys Ltd Tata Consultancy Services Sun Pharmaceutical Industries Dr Reddys Laboratories Ltd and Shriram Finance Ltd weighed on the Nifty 50 indexAmong sectoral indices Nifty Realty the top gainer jumped 119 per cent Nifty PSU bank up 039 per cent and Nifty Auto up 038 per cent were the other major gainers Nifty Pharma was the top loser down 078 per centInflation had cooled to 207 per cent well below the RBIs projection of 31 per cent in August latest government data saidAnalysts said that Indian equities which have recently underperformed compared to global peers now appear attractively valued Positive factors such as ongoing GST reforms anticipation of a Fed rate cut and improving USIndia trade ties are expected to further support the marketLast week Nifty 50 notched its eighth consecutive advance closing above the symbolic 25100 mark for the first time since Julyits longest winning streak in a year and the biggest weekly gain in nearly three monthsNifty has been gradually taking out the crucial resistances and on the weekly chart the Nifty has confirmed a pattern of higher tops and higher bottoms which is an encouraging sign for a sustained positional bullish trend said Devarsh Vakil Head of Prime Research at HDFC SecuritiesNifty seems to be heading towards the next resistance of 25250 while the 24900 level could offer support he addedMajor US indices posted strong weekly gains and closed near all time highs The Nasdaq rose 20 per cent the SampP 500 gained 16 per cent and the Dow advanced 10 per cent marking the best week since early AugustMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index advanced 022 per cent and Shenzhen added 107 per cent Japans Nikkei rose 089 per cent while Hong Kongs Hang Seng Index jumped 032 per cent South Koreas Kospi inched up 052 per centThe US markets are pricing in a 964 per cent probability of a 25basispoint rate cut on September 17 with additional cuts expected through yearend Softer labour data and persistent inflation support the dovish shift boosting demand for equities and cryptocurrencies said analysts IANS https://dailyworld.in/market/nifty-sensex-open-flat-as-investors-wait-for-fresh-cues-us-fed-meet-outcome-638567.html Mon, 15 Sep 2025 10:04:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-with-mild-gains-amid-strong-global-cues-637981.html Mumbai Sep 12 The Indian benchmark indices opened with mild gains on Friday on the back of strong global cues driven by growing expectations of a US Federal Reserve rate cut next week As of 925 am Sensex was up 114 points or 014 per cent at 81663 and Nifty was up 39 points or 016 per cent at 25045The broadcap indices outperformed benchmark indices as Nifty Midcap 100 inched up by 043 per cent and the Nifty Small cap 100 moved up 036 per centAdani Enterprises Infosys TCS NTPC and Axis Bank were among major gainers on Nifty while losers were Bajaj Finserv Titan Company and Tata Consumer ProductsAmong sectoral indices Nifty Auto the top gainer jumped 101 per cent Nifty IT up 074 per cent and Nifty Metal up 059 per cent were the other major gainers Nifty FMCG was the top loser down 062 per centAdding to the investor optimism US President Donald Trump has reportedly invited Union Commerce Minister Piyush Goyal for a meeting with the US Trade Representative to discuss a potential trade deal a development that could ease tensions between the two countriesNifty on Thursday managed to surpass the 25000 hurdle and continued its upward journey for the seventh day in a row to close at its highest levels since 21 August Nifty finally managed to close above the downward sloping trend line resistance on the daily chartAnalysts said that the shortterm trend of the Nifty remains bullish as it has been holding above 5 20 and 50 DMAs Immediate resistance for Nifty is seen at 25153 derived from the previous swing highUS markets surged to fresh records overnight as jobless claims spiked to a fouryear high of 263000 cementing expectations for Federal Reserve rate cuts despite August inflation accelerating to 29 per centThe Dow Jones Industrial Average jumped 136 per cent while the Nasdaq advanced by 072 per cent and the SampP 500 gained 085 per centMarkets now price in a 948 per cent probability of a quarterpoint Fed cut next week with only 52 per cent odds of a halfpoint reductionMost of the Asian markets made strong gains during the morning session While Chinas Shanghai index advanced 024 per cent and Shenzhen added 015 per cent Japans Nikkei rose 091 per cent while Hong Kongs Hang Seng Index jumped 142 per cent South Koreas Kospi inched up 115 per centOn Thursday foreign institutional investors FIIs net sold equities worth Rs 3472 crore while domestic institutional investors DIIs net bought shares worth Rs 4046 crore IANS https://dailyworld.in/market/indian-stock-market-opens-with-mild-gains-amid-strong-global-cues-637981.html Fri, 12 Sep 2025 09:59:00 +0530 https://dailyworld.in/market/gujarat-fate-of-24-candidates-to-be-decided-in-amul-dairy-board-polls-637989.html Anand Sep 12 The highstakes Amul Dairy elections in Anand enter their final stage on Friday with the counting of votes that began at 9 am The process spread across eight rounds at four counting centres will decide the fate of 24 candidates contesting for nine seats on the Board of Directors Results are expected to be announced by 3 pmVoting for the elections was held on September 10 recording an impressive 9748 per cent turnout Later ballot boxes were transported from the District Treasurys strongroom to Amul Dairys counting centre under tight security Counting will take place simultaneously at four centres with four tables assigned to handle the ballotsOfficials will open the boxes extract the ballot papers and tally votes candidatewise Cancelled ballots will be displayed before candidates and agents before being set aside for final verification The process will begin with counting for the Anand Borsad Petlad and Khambhat seats followed by Nadiad Matar Kathlal and Kapadvanj Finally votes of individual members will be talliedThe elections have generated excitement among cattle farmers of Anand and Kheda districts with large gatherings of supporters and candidate families expected at the dairy premises to witness the results Amul Dairy headquartered in Anand Gujarat is the flagship cooperative under the Gujarat Cooperative Milk Marketing Federation GCMMF and a central pillar of Indias dairy sector With an annual group turnover crossing Rs 55000 crore over USD 65 billion it is not just Indias largest dairy brand but also among the worlds biggest milk cooperativesFounded in 1946 and often credited with ushering in Indias White Revolution under the leadership of Dr Verghese Kurien Amul transformed India from a milkdeficient country into the worlds largest milk producer Its cooperative model which links over 36 lakh milk producers across 18000 villages in Gujarat has become a global case study in farmer empowerment and rural development Beyond being a household brand with products ranging from milk and butter to ice cream and cheese Amuls relevance lies in its role as a socioeconomic backbone ensuring stable incomes for farmers driving rural employment and positioning India as a dairy powerhouse in global markets IANS https://dailyworld.in/market/gujarat-fate-of-24-candidates-to-be-decided-in-amul-dairy-board-polls-637989.html Fri, 12 Sep 2025 10:30:00 +0530 https://dailyworld.in/market/stock-market-ends-week-on-positive-note-clock-8-consecutive-session-gains-despite-uncertainties-638069.html Mumbai Sep 12 The Indian equity indices ended the week on a positive note on Friday maintaining the winning streak for the eight consecutive trading sessions despite geopolitical uncertainties Optimism over a potential rate cut by the US Fed positive developments in IndiaUS trade talks and buying in defence stocks fueled the market sentimentSensex settled the session at 8190470 up 35597 points or 044 per cent The 30share index started trading with a decent gapup at 8175895 against last days closing of 8154873 The index extended the momentum further amid positive global cues to hit an intraday high at 8199285Nifty closed at 251140 up 10850 points or 043 per centThe national market closed at a threeweek high supported by renewed global optimism over a potential Fed rate cut Sentiments improved further on reports that the EU may reject US tariff proposals on India for buying Russian oil analysts saidProgress in the USIndia trade talks is also expected to keep the positive momentum intact in the near term The defence sector outperformed aided by the Indian procurement authorities beginning negotiations for six nextgeneration conventional submarines analysts addedBEL Bajaj Finance Bajaj FinServ Axis Bank Maruti Tata Motors ICICI Bank LampT Infosys and PowerGrid were the top gainers from the Sensex basket Eternal Hindustan Unilever Trent Asian Paint Bharati Airtel and ITC settled lowerThe majority of sectoral indices settled higher Nifty Fin Services jumped 184 points or 070 per cent Nifty Bank escalated 139 points or 026 per cent Nifty Auto increased 122 points or 046 per cent and Nifty IT settled the session 107 points or 03 per cent Nifty FMCG fellBroader indices followed suit as well Nifty Smallcap 100 moved 114 points or 064 per cent Nifty Midcap 100 jumped 183 points or 032 per cent and Nifty 100 closed 106 points or 041 per centRupee traded positively with gains of 018 per cent at 8827 as mixed FII inflows supported sentimentThe dollar index remained weak below 98 providing additional strength to the rupee while ongoing trade deal talks with the US also added optimism Weakness in crude prices offered further minor support said Jateen Trivedi f LKP SecuritiesOverall the rupee looks set to gain some lost ground with scope to test 8775 in the coming days while 8850 is seen as a reversal resistance zone he added IANS https://dailyworld.in/market/stock-market-ends-week-on-positive-note-clock-8-consecutive-session-gains-despite-uncertainties-638069.html Fri, 12 Sep 2025 16:48:00 +0530 https://dailyworld.in/market/tn-transport-dept-seeks-bids-for-vehicle-tracking-device-installation-637761.html Chennai Sep 10 The Commissionerate of Transport and Road Safety has invited Expressions of Interest EOI from Vehicle Location Tracking Device VLTD manufacturers for the installation of devices in a wide range of commercial and passenger vehicles across Tamil Nadu The initiative issued on September 4 is aligned with the Automotive Industry Standard AIS140 which mandates realtime tracking and emergency response features to ensure passenger safety According to the notification interested manufacturers must submit applications by October 22 The bids will be opened on the same day at the Transport Commissionerate in Guindy The process will be governed by the Tamil Nadu Transparency in Tenders Act 1998 and the corresponding Tender Rules of 2000 Under the scheme VLTDs will be mandatory in buses school buses stage carriages All India Tourist Permit vehicles private service vehicles maxi cabs taxis and goods carriers including petroleum and water tankers Vehicles not covered under permit regulations will remain exempt though the Transport Department has reserved the right to expand coverage in the future The AIS140 devices are equipped with panic buttons to raise instant alerts in case of emergencies They will transmit live data to the States Command and Control Centre allowing authorities to monitor movement and ensure swift response during accidents or untoward incidentsOfficials said the move will also improve traffic management and bring greater accountability among transport operators To participate manufacturers must hold valid type approval and conformity of production certificates issued by agencies accredited with the Ministry of Road Transport and Highways MoRTH They are also required to establish retrofitment centres in all 38 districts and set up service and support centres in all 12 transport zonesAdditionally fitment centres must be operational across all 91 Regional Transport Office jurisdictions within 30 days of empanelment Each empanelled manufacturer must submit a performance guarantee of Rs 25 lakh along with a bank guarantee of Rs 5 lakh for every service centre A registration fee of Rs 25000 has been fixed for the first device model while subsequent models will attract a fee of Rs 10000 The initiative comes in the wake of the Union governments mandate on VLTDs introduced as a nationwide safety measure following the Nirbhaya incident The Tamil Nadu government has stressed that this is part of its broader effort to strengthen road safety through education enforcement engineering and emergency response IANS https://dailyworld.in/market/tn-transport-dept-seeks-bids-for-vehicle-tracking-device-installation-637761.html Thu, 11 Sep 2025 00:45:00 +0530 https://dailyworld.in/market/expansion-of-trusted-traveller-programme-to-five-airports-to-boost-tourism-hm-amit-shah-637867.html New Delhi Sep 11 IANS Union Home Minister Amit Shah on Thursday expanded the Trusted Traveller Programme to five more airports making immigration simpler faster and hasslefree and promoting tourism with speed scale and scope as envisioned by Prime Minister Narendra ModinbspSpeaking at the inauguration of the programme at Lucknow Thiruvananthapuram Trichy Calicut and Amritsar airports via video conferencing HM Shah said The scheme offers a great opportunity to apprise visitors about the sweeping changes taking place in the countryHe said it was a happy coincidence that the facility is being expanded to the five airports on the historic day on which 132 years ago Swami Vivekanand through his brilliant address at the Parliament of the Worlds Religions in Chicago presented the radiant vision of Indian culture and Sanatan Dharma to the entire worldnbspIn a way that moment marked the resurgence of Indian culture and that phase has continued till today he saidnbspHM Shah said the Trusted Traveller Programme is a step to realise PM Modis dream of Speed Scale and Scope as the latter has repeatedly stressed that we need to work on a trust multiplier while employing technological toolsnbspBut more than just putting a system in place we need to ensure that the maximum number of people avail the service he saidThe Fast Track Immigration Trusted Traveller Programme FTITTP is a governmentled initiative designed to expedite immigration clearance for eligible travellers The government targets to provide the facility to nearly two dozen airportsnbspInitially available for Indian nationals and OCI cardholders this programme ensures a faster smoother and more secure travel experience for preverified passengersnbspThe easy quick process using biometric egates reduces waiting time at airports from around 30 minutes to secondsnbspInitially launched as a complimentary facility for OCI cardholders and Indian nationals the programme has now been extended to several major airportsnbspThe system requires online registration and provides biometric data including fingerprints and facial images to avail troublefree immigration at participating airportsnbspThe biometric data can be directly provided to airports or the Foreigners Regional Registration Offices FRROs under the Ministry of Home Affairs https://dailyworld.in/market/expansion-of-trusted-traveller-programme-to-five-airports-to-boost-tourism-hm-amit-shah-637867.html Thu, 11 Sep 2025 17:34:00 +0530 https://dailyworld.in/market/indian-indices-continue-winning-streak-for-fourth-straight-trading-session-637871.html Mumbai Sep 11 The Indian stock market settled with gains on Thursday after a slow start in the morning trade continuing the winning streak for the fourth consecutive day this week Sensex ended the session at 8154873 up 12358 points or 015 per cent The 30share index started the session a bit lower at 8121730 against last sessions closing of 8142515 However the index bounced back into green amid a mixed approach The index hit an intraday high at 81642 up over 400 points as compared to the days lowNifty closed at 2500550 up 3240 points or 013 per centThe Nifty50 index has closed above the critical threshold of 25000 The unexpected imposition of a 50 per cent tariff on India by the US initially dragged the main index down to 24400 However the index has been steadily recovering from this decline said Vinod Nair Head of Research Geojit Investments LimitedThis resurgence can be attributed to several factors like expectation of limited impact on the domestic economy the Indian governments robust strategic response to US longterm policies and the announcement of significant domestic reforms such as the GST to mitigate traderelated repercussions he addedNTPC Axis Bank Eternal PowerGrid Bharti Airtel Sun Pharma SBI Asian Paints and TCS were the top gainers from the Sensex basket Infosys Titan Ultratech Cement Hindustan Unilever BEL Trent Tata Motors and Tech Mahindra settled lowerThe majority of sectoral indices edged higher amid a mixed approach Nifty Fin Services jumped 54 points or 021 per cent Nifty Bank escalated 133 points or 024 per cent and Nifty FMCG ended the session 103 points or 018 per cent higher While Nifty Auto and Nifty IT declinedBroader indices remained rangebound amid timid investors sentiment Nifty Small Cap 100 and Nifty Midcap 100 ended flat while Nifty Next 50 and Nifty 100 settled in positive territoryRupee traded weakly by 035 per cent at 8840 amid mixed FII flows and a firmer dollar indexFocus remains on the US CPI data which could drive volatility in the dollar and in turn the rupee Crude prices stayed volatile but hovered in lower zones offering partial support said Jateen Trivedi of LKP SecuritiesMarket sentiment remains tied to updates on the USIndia trade deal which could trigger sharper moves For now the rupee can be seen trading within 87858810 as support and 88558870 as resistance analysts added IANS https://dailyworld.in/market/indian-indices-continue-winning-streak-for-fourth-straight-trading-session-637871.html Thu, 11 Sep 2025 17:38:00 +0530 https://dailyworld.in/market/indias-authentication-and-traceability-industry-projected-to-reach-rs-16-575-cr-by-fy29-report-637907.html New Delhi Sep 11 The Indian authentication and traceability AampT industry is projected to reach Rs 10612 crore in FY 202425 and Rs 16575 crore by FY 202829 reflecting a strong upward trajectory with a forecasted compound annual growth rate CAGR of 113 per cent a report said on Thursday The sector was at Rs 9705 crore in FY 202324 growing at a CAGR of 74 per cent since FY 201920 according to a joint report of the Authentication Solution Providers Association ASPA and AccentureGlobally the AampT market stood at 147 billion in 2023 and is projected to grow to 382 billion by 2032The AsiaPacific region is expected to lead this growth with a CAGR of 142 per cent driven by increasing regulatory mandates and rising consumer demand for transparency and authenticityAccording to the report key sectors driving demand in India include pharmaceuticals 17 per cent consumer products 14 per cent cosmetics 13 per cent and automotive components 13 per centFactors such as the rise in counterfeiting growing ecommerce penetration consumer awareness and regulatory requirements are contributing to the sectors growthThis report is a milestone for Indias fight against counterfeiting Authentication and traceability are no longer optional they are essential to protect consumers safeguard brands and build trust in the marketplace With Indias AampT industry set to grow at doubledigit rates this study will guide policymakers businesses and stakeholders in shaping a safer more transparent future said Manoj Kochar President ASPA addressing the eventWhile traditional technologies like holograms and QR codes continue to dominate growing interest in nextgeneration technologies such as blockchain internet of things IoT and AI the report highlightedThe report was prepared based on survey responses from ASPA member companies along with indepth interviews with government authorities industry stakeholders and global bodies IANS https://dailyworld.in/market/indias-authentication-and-traceability-industry-projected-to-reach-rs-16-575-cr-by-fy29-report-637907.html Thu, 11 Sep 2025 19:16:00 +0530 https://dailyworld.in/market/indias-life-insurance-sector-expected-to-clock-145-pc-cagr-over-fy23-35-report-637931.html New Delhi Sep 11 Indias life insurance industry is expected to clock a compound annual growth rate CAGR of 145 per cent over FY2335 making it one of the most promising segments in Indias financial services space a report said on Thursday The Indian life insurance industry has grown at a CAGR of 11 per cent over the past two decades FY0525 to Rs 1203bn in FY25 PL Capital a financial services organisation said in a reportThe recently announced GST exemption will improve affordability enhance persistency and deepen penetration driving stronger longterm growthHowever it may create shortterm profitability challenges as insurers lose access to input tax creditsDespite steady expansion in recent decades Indias life insurance penetration remains significantly below global benchmarksAt 28 per cent of GDP in FY24 it trails the developed market average of 56 per cent Similarly insurance density in India stood at just 70 per capita compared with 3182 in advanced economiesThis gap highlights a multidecade opportunity for the industry particularly as households increasingly allocate savings towards financial instrumentsWith nominal GDP projected to grow at 105 per cent annually coupled with rising financial awareness life insurance is set to emerge as a critical pillar of Indias household balance sheets the report highlightedAccording to the report the structural factorssuch as the absence of social security nets a growing middle class and increasing life expectancywill fuel demand for protection and annuity productsThese segments currently underpenetrated are expected to contribute significantly to the sectors longterm growthThe report highlighted that historically Unit Linked Insurance Plans ULIPs have dominated the product mix aided by buoyant equity markets and attractive tax benefitsHowever the report anticipates ULIP shares to moderate as customers gravitate towards nonlinked offeringsListed insurers have seen an increase in the share of ULIP 3565 per cent in FY25 against 1655 per cent in FY23 according to the reportThe sector has navigated several regulatory changes over the past few years including new surrender value guidelines for expenseofmanagement EoM IANS https://dailyworld.in/market/indias-life-insurance-sector-expected-to-clock-145-pc-cagr-over-fy23-35-report-637931.html Thu, 11 Sep 2025 20:21:00 +0530 https://dailyworld.in/market/gst-rationalisation-to-benefit-both-coal-producers-and-consumers-coal-ministry-637933.html New Delhi Sep 11 The Goods and Services Tax GST council has brought significant changes to the taxation structure of the Coal sector by removing the compensation cess the Ministry of Coal said on Thursday Earlier Coal attracted a 5 per cent GST along with a compensation cess of Rs 400 per ton The Council has now recommended the removal of the GST Compensation cess and an increase in the GST rate on coal from 5 per cent to 18 per centThe new reforms reduce the overall tax on coal grades G6 to G17 which is in the range of Rs 1340 per ton to Rs 32961 per ton The average reduction for the power sector is Rs 260 per ton which will reduce the cost of generation by 17 to 18 paise kWh the ministry saidThe reforms will also help in the rationalisation of the tax burden on coal as compared to its pricingPreviously a flat rate of Rs 400 per tonne was imposed as GST compensation cess without considering coal quality This disproportionately affected lowquality and lowpriced coalFor example G11 noncoking coal which is the majority of coal produced by Coal India Limited had a tax incidence of around 6585 per cent compared to G2 coal where the incidence was 3564 per centWith the cess removed tax incidence across all categories of coal has now been rationalised to a uniform rate of 3981 per centDespite an increase in GST Rates from 5 per cent to 18 per cent the reforms will have a lower overall tax incidence on the final consumer due to the removal of GST compensation CessSimilarly the removal of cess rationalisation of duty and correction of the inverted structure release liquidity eliminate distortions and prevent large accounting losses for coal producers the ministry saidThe decisions of the GST council represent a balanced reform that benefits both coal producers and consumers alike IANS https://dailyworld.in/market/gst-rationalisation-to-benefit-both-coal-producers-and-consumers-coal-ministry-637933.html Thu, 11 Sep 2025 20:22:00 +0530 https://dailyworld.in/market/meghalaya-basin-received-rs-224-crore-in-three-years-cm-sangma-637935.html Shillong Sep 11 The Meghalaya Basin Development Authority MBDA has secured funding of Rs 224 crore over the past three years with the largest share of Rs 18230 crore allocated in the current financial year 202425 for implementing innovative and crosssectoral projects across the state Chief Minister Conrad Sangma said on Thursday Sangma while replying to a question raised by North Shillong VPP legislator Adelbert Nongrum in the Assembly said MBDA received Rs 24 crore in 202324 and Rs 1770 crore in 202223He stressed that the authoritys accounts are regularly audited by the Comptroller and Auditor General CAG ensuring transparency in its functioningSangma informed the House that MBDA established in 2012 under the Societies Registration Act of 1860 operates as a Special Purpose Vehicle SPV and functions as a registered societyHe further clarified that the Meghalaya Basin Management Agency MBMA is a separate notforprofit entity under Section 8 of the Companies Act created primarily to meet the requirements of international funding agencies such as IFADExplaining the mandate of MBDA the Chief Minister said the agency is tasked with coordinating crosssectoral and innovative development projectsIt is not restricted in implementing initiatives whether they are externally aided projects EAPs or centrally sponsored schemes CSSOn recruitment Sangma said MBDA follows a structured and transparent process involving examinations and qualification checks All 729 employees currently serving under the authority are locals he emphasised adding that the selection process is guided by a professional human resource policyResponding to Nongrums concern about whether the creation of MBDA suggests a lack of capacity among government departments Sangma dismissed the notion outrightHe underlined that departmental budgets have grown significantly from Rs 9000 crore earlier to nearly Rs 30000 crore now which is proof of their efficiencyDepartments continue to implement their specific projects MBDA exists mainly to ensure coordination where multiple departments are involved he explainedIn reply to a separate query by VPP legislator Heavingstone Kharpran from Mawryngkneng the chief minister informed that projects aimed at protecting catchment areas for Shillong and Tura water supply are currently in progress IANS https://dailyworld.in/market/meghalaya-basin-received-rs-224-crore-in-three-years-cm-sangma-637935.html Thu, 11 Sep 2025 21:13:00 +0530 https://dailyworld.in/market/eacc-to-make-tn-hub-for-global-trade-and-ev-exports-says-rohit-gupta-637756.html Chennai Sep 10 In a significant step toward boosting international trade and investment the Eurasia Afro Chamber of Commerce EACC announced plans to transform South India especially Tamil Nadu into a strategic trade hub focusing on exports of medical equipment and electric vehicles EVs The announcement came during an investor press meet held at a private hotel in Egmore Chennai with Dr Rohit Gupta Global President of EACC addressing the mediaHighlighting the organisations vision Dr Gupta said The main objective of this is to build trade relations between Africa and South India and strengthen the crossborder trade and investment framework based on the African economy and tradeHe revealed that EACC has signed an agreement in South India positioning Tamil Nadu as its operational headquarters to spearhead trade initiatives across Asia Africa and EuropeWe are going to turn South India into a trade market with Tamil Nadu as our headquarters said Dr Gupta emphasising the states potential in manufacturing and exportsHe further added that the African market has a high demand for EVs and medical equipment and with robust infrastructure already in place in Tamil Nadu the exports would be routed from hereWe have sent our business amp purpose to the Tamil Nadu government the Central government and all embassies he stated confirming that dialogues are underway with relevant authoritiesDr Gupta announced that the Global Investment Market will be launched between November and December pending approval from the Tamil Nadu governmentCountries including Ghana Liberia and Morocco have asked for EVs and medical equipment Since the infrastructure is here we are going to export from here he notedThe EACC is targeting an investment inflow of Rs 2000 crores with export mechanisms being set up on a guaranteebased modelBy connecting Asia Africa and Europe we want to strengthen the economic diplomacy create equitable investment opportunities and accelerate sustainable global progress Dr Gupta remarked IANS https://dailyworld.in/market/eacc-to-make-tn-hub-for-global-trade-and-ev-exports-says-rohit-gupta-637756.html Wed, 10 Sep 2025 23:48:00 +0530 https://dailyworld.in/market/stock-market-ends-higher-over-us-india-trade-deal-optimism-637642.html Mumbai Sep 10 IANS The Indian equity indices settled the session in positive territory on Wednesday continuing the positive momentum buoyed by optimism around the IndiaUS trade deal and GST rationalisationnbspSensex ended the session at 8142515 up 323 points or 043 per cent The 30share index opened with a decent gapup at 8150436 against the last sessions closing price of 8110132 amid buying in IT and FMCG stocks The index hit an intraday high at 8164388Nifty closed at 2497310 up 10450 points or 042 per centnbspRenewed optimism around ongoing trade negotiations between India and the US lifted market sentiment Anticipation of stronger H2 FY26 earnings driven by GST rationalisation and the benefits of monetary easing is providing resilience to valuations said analystsnbspThe IT index extended its outperformance on hopes of a potential Fed rate cut next week and a revival in technology spending Investors remain focused on the progress of IndiaUS trade talks for signals of a constructive resolution to tariffrelated issues he addedBEL HCL Tech Bajaj Finance Axis Bank TCS Tech Mahindra Infosys SBIN LampampT Adani Ports ITC Bajaj FinServ and Kotak Bank were the top gainers from the Sensex basket While Mahindra and Mahindra Maruti Suzuki Tata Motors Ultratech Cement Eternal and PowerGrid settled in negative territorynbspThe majority of sectoral indices ended the session on a positive note Nifty Fin Services jumped 16180 points or 062 per cent Nifty Bank escalated 319 points or 059 per cent Nifty FMCG surged 359 points or 064 per cent and Nifty IT soared 927 points or 263 per cent Nifty Auto fell 34855 points or 128 per cent amid profit bookingnbspThe broader market followed suit as well Nifty smallcap 100 moved 130 points or 073 per cent Nifty midcap100 jumped 535 points or 093 per cent and Nifty 100 ended the session 319 points or 059 per cent higher https://dailyworld.in/market/stock-market-ends-higher-over-us-india-trade-deal-optimism-637642.html Wed, 10 Sep 2025 16:16:00 +0530 https://dailyworld.in/market/sensex-up-350-points-nifty-above-24-850-it-stocks-lead-rally-637271.html Mumbai Sep 9 The Indian benchmark indices opened higher on Tuesday with Nifty IT index leading the rally with 17 per cent surge in the early trade At 923 am Sensex was up 355 points or 044 per cent at 81142 and Nifty was up 99 points or 040 per cent at 24873The broadcap indices stayed flat as Nifty Midcap 100 inched up by 005 per cent and the Nifty Small cap 100 dipped 001 per centNifty IT advanced on the back of strong gains by Infosys up 335 per cent as the company had announced that it will consider a buyback of shares along with its results next month IT company Wipro also advanced 236 per centTech Mahindra TCS Bajaj Finserv were other major gainers in the Nifty pack Major losers were Titan Company Shriram Finance ICICI Bank Tata Consumer and Tata MotorsAmong sectoral indices apart from Nifty IT the top gainer Nifty pharma up 047 per cent and Nifty Auto up 021 per cent were in green Many other indices made marginal lossesAnalysts said that Nifty index had formed a small red candle with a long upper shadow on the daily chart highlighting consolidation and volatilityWhile buying interest is visible at lower levels the 2490025000 zones remains a stiff hurdle Support is placed at 24620 and as long as Nifty trades below 25000 some consolidation or mild weakness may persist they notedUpside momentum vanished on test of 24870 which we had pencilled in as a critical pivot yesterday Though the turn lower thereof was abrupt and steep oscillators remain accommodative towards further upsides We will look for a close beyond the 24730870 for further clarity said Anand James Chief Market Strategist Geojit Investments LimitedThe US markets ended in the green zone overnight as the Dow Jones Industrial Average inched up 025 per cent while the Nasdaq advanced by 045 per cent and the SampP 500 gained 021 per centIn the US investors are now awaiting two key inflation reports that could determine what Federal Reserve policymakers will do at their meeting next weekThe Asian markets traded mixed in the morning session Chinas Shanghai index declined 035 per cent and Shenzhen lost 1 per cent Japans Nikkei was up 02 per cent while Hong Kongs Hang Seng Index added 082 per cent South Koreas Kospi inched up 106 per centOn Friday foreign investors FIIsFPIs turned net sellers with outflows worth Rs 2170 crore of Indian equities while domestic institutional investors DIIs net bought shares worth Rs 3014 crore IANS https://dailyworld.in/market/sensex-up-350-points-nifty-above-24-850-it-stocks-lead-rally-637271.html Tue, 09 Sep 2025 09:55:00 +0530 https://dailyworld.in/market/bihar-mushroom-farming-becomes-popular-profession-in-saharsa-govt-giving-upto-90-pc-subsidy-637424.html Patna Sep 9 Mushroom farming having emerged as a popular profession in Saharsa district of Bihar is bringing drastic changes to the lives of women With the government providing up to 90 per cent subsidy villagers including women are opting for new employment opportunities under the scheme Women like Shashikala Reena and Priyanka are earning extra income inspiring others and also boosting rural employment under the ambitious scheme Many household women are moving towards selfemployment by joining Digital Sakhi and Jeevika DidiShashikala Devi associated with the Jeevika Didi program said that she learnt that additional income can be earned by working parttime along with the jobA woman associated with Digital Sakhi yojana said The purpose of taking mushroom training is that when we go doortodoor to promote digital and financial literacy among women we also inform them about mushroom training This way they can start their own businesses separately and run their livelihoods successfully in the futurePriyanka Kumari another Digital Sakhi associate said Earlier I used to work only at home as a housewife and did nothing else My husband was also unemployed But one of my friends was working with Digital Sakhi I told her that I also wanted to do something so she guided me I went took the exam and joined as a Digital Sakhi Through this I started working my children also got to study and later I began doing parttime jobs as wellSunita Paswan Agricultural Scientist at the Krishi Vigyan Kendra shedding light on the scheme said This training is a fourday certificate course focused on mushroom production techniques and processing It is being provided so that women can disseminate this technology at the grassroots levelshowing how to cultivate mushrooms which are highly valuable both for health and in the international marketThis mushroom farming scheme is providing selfemployment opportunities to women and unemployed youth Also the income of farmers is increasing due to the growing market and enhanced demand IANS https://dailyworld.in/market/bihar-mushroom-farming-becomes-popular-profession-in-saharsa-govt-giving-upto-90-pc-subsidy-637424.html Tue, 09 Sep 2025 19:22:00 +0530 https://dailyworld.in/market/foundation-laid-for-project-to-bring-more-godavari-water-to-hyderabad-637224.html Hyderabad Sep 8 Telangana Chief Minister A Revanth Reddy on Monday laid the foundation stone for the second and third phases of a project aimed at bringing water from the Godavari River to Hyderabad to cater to the drinking water needs of the state capital and also for the rejuvenation of the Musi River which flows through the city The second and third phase of the Godavari Drinking Water Scheme is estimated to cost Rs 7360 crore and are scheduled to be completed in two yearsSpeaking on the occasion the Chief Minister announced the government will bring 20 Thousand Million Cubic feet TMC of Godavari water to Hyderabad of which 16 TMC will be utilised for drinking water needs of the city while the remaining 4 TMC will be released into the Musi to cleanse it and to replenish lakes along its courseHe claimed that Musi rejuvenation was being taken up for the people of Nalgonda district who have been suffering due to pollutionHe recalled that he had promised to purify the toxic Musi during a padyatra in Nalgonda districtDrawing a parallel with the cleaning of rivers like the Ganga Yamuna and Sabarmati the Chief Minister questioned why the Musi should be denied such an initiative He criticised Bharat Rashtra Samithi BRS for failing to take up cleaning of Musi during its 10year ruleAssuring that the government is committed to transforming Hyderabad into a worldclass city the Chief Minister urged all sections of society to come together for developmentHe recalled the historical efforts made to safeguard and serve the people of Hyderabad He said that in 1908 the Nizam Government had constructed Osman Sagar and Himayat Sagar to protect Hyderabad from devastating Musi floods and for more than a century those reservoirs have continued to supply drinking water to the city a true reflection of the Nizams foresightOsman Sagar and Himayat Sagar will be filled with the water being brought from the Godavari Seven intermediate lakes will also be filled along the routeThe Chief Minister stated that successive governments have made relentless efforts to meet the drinking water requirements of Hyderabad a city with a population of over one croreIn 1965 drinking water from the Manjeera River was brought to the city by the Congress government In 2002 Krishna River water was brought in three phases quenching the thirst of the citys growing populationThe Chief Minister clarified that water is being drawn from the Sreepada Yellampalli project and not from Mallanna Sagar as falsely claimed by someMallanna Sagar is part of the Kaleshwaram Project constructed during the BRS rule and the investigation into the alleged corruption in the project has been dominating the state politics for more than a yearHe alleged that the BRS government dismantled the PranahitaChevella project initiated by the late YS Rajasekhara Reddy due to financial greed thereby depriving farmers in Chevella Tandur and Parigi of irrigation water He reiterated that the Government would revive the project near Tummidihatti and ensure irrigation for farmers of Adilabad and Rangareddy districtsRevanth Reddy declared that he would visit Maharashtra to meet his counterpart and discuss the construction of the project at Tummidihatti across the GodavariThe Chief Minister also inaugurated the Phase II drinking water supply project for the Greater Hyderabad Municipal Corporation GHMC limits surrounding municipalities municipal corporations and gram panchayats along the Outer Ring RoadAccording to officials the project cost is Rs 1200 crore A total of 71 reservoirs were constructed of which 15 newly built ones were inaugurated by CM Revanth ReddyOfficials said drinking water will be supplied to 25 lakh people across 14 mandals IANS https://dailyworld.in/market/foundation-laid-for-project-to-bring-more-godavari-water-to-hyderabad-637224.html Mon, 08 Sep 2025 22:07:00 +0530 https://dailyworld.in/market/aatmanirbhar-bharat-in-action-ruby-bhatnagar-empowers-over-3-000-women-in-uttarakhand-under-pmegp-637238.html Haldwani Sep 8 Ruby Bhatnagar a resident of Haldwani in Uttarakhand is not just a successful entrepreneur she is a true inspiration in the spirit of Aatmanirbhar Bharat SelfReliant India She has built a thriving model of selfemployment rooted in Indias rich tradition of handlooms and handicrafts And for this she has got help under the Prime Ministers Employment Generation Programme PMEGPShe started with a loan of Rs 10 lakhs under the PMEGP scheme Promoting selfreliance among aspiring entrepreneurs was the aim With this financial support Ruby started a cottage industry focused on handcrafted products like jute bags designer clothing toys home decor items and handicrafts Her venture wasnt just about starting a businessit was about reviving and modernising Swadeshi indigenous handloom products making them relevant in todays marketTo develop her skills and leadership capabilities Ruby actively participated in numerous SelfHelp Group SHG training programmes where she learned new handicraft techniques and best practices in managing group enterprises These experiences equipped her to expand her vision beyond individual successShe gradually built a strong network of women artisans Ruby has currently extended her operations across three districts of UttarakhandNainital Udham Singh Nagar and Champawat She has created livelihood opportunities for over 3000 women Bhatnagar told IANS These women are now part of a growing network of selfreliant artisans contributing to both their households and the local economyRuby believes that schemes like PMEGP are lifelines for women looking to break free from economic dependency Every woman should take advantage of the Prime Ministers selfemployment schemes They are not just financial aidsthey are a gateway to confidence independence and empowerment she said in conversation with IANSThrough her commitment to selfreliance and community empowerment Ruby Bhatnagar has become a living example of how government schemes when combined with skill determination and purpose can transform lives She continues to inspire thousands to dream bigger and build stronger selfreliant communities one handcrafted product at a timeHema Bisht is one of the many women whose lives have taken a positive turn after joining Ruby Bhatnagars women empowerment initiative After receiving handson training in handicrafts Hema became an active member of Rubys selfhelp group She began working in the jute production unit where she honed her skills in creating a variety of ecofriendly products such as jute bags and intricately designed jute jewellery Through this opportunity Hema not only developed new skills but also found a stable source of income allowing her to support her family and become financially independentAnother inspiring story comes from Kiran a fellow worker at the unit Kiran shared that before joining the group she had never been employed and had limited means to contribute to her household However becoming a part of Ruby Bhatnagars initiative gave her a new sense of purpose I had no job earlier and no way to earn but after joining this group Ive learned so much and now Im able to earn for myself Its a big step towards becoming selfreliant she said with gratitude IANS https://dailyworld.in/market/aatmanirbhar-bharat-in-action-ruby-bhatnagar-empowers-over-3-000-women-in-uttarakhand-under-pmegp-637238.html Mon, 08 Sep 2025 23:06:00 +0530 https://dailyworld.in/market/indias-unemployment-rate-at-2-pc-is-lowest-among-g20-nations-mandaviya-637153.html New Delhi Sept 8 IANS Minister for Labour ampamp Employment Mansukh Mandaviya on Monday cited the World Economic Forums The Future of Jobs Report 2025 to highlight that Indias unemployment rate is 2 per cent which is the lowest among G20 nationsnbspHe said that employment generation has taken place across sectors in tandem with Indias rapid economic growth and underlined the enabling government schemes that have contributed towards the samenbspThe minister was speaking at an event here organised for the signing of an MoU between the Ministry of Labour ampamp Employment and Mentor Together and Quikr for enhancing employment opportunities as well as youth employability on the National Career Service NCS PortalIn his address Mandaviya said The National Career Service NCS platform with nearly 52 lakh registered employers 579 crore job seekers and over 722 crore vacancies mobilised is now evolving to offer not just job listings but as a onestop solution for all employmentrelated services Currently there are over 44 lakh active vacancies on the portalnbspOver the past year the Ministry has signed MoUs with ten key organisations including Amazon and Swiggy These partnerships have already mobilised nearly five lakh vacancies the minister addednbspHighlighting the Governments renewed focus on youth Mandaviya recalled that at the very start of its third term Prime Minister Narendra Modi had announced a package of five flagship schemes with a total budget of Rs 2 lakh crore to support employment skilling and opportunities for 41 crore youthnbspA key highlight of this package is the Pradhan Mantri Viksit Bharat Rozgar Yojana PMVBRY with an allocation of Rs 99446 crore aimed at incentivising the creation of over 35 crore jobs in two years of which 192 crore will benefit firsttime entrants to the workforcenbspWelcoming the collaboration between the Ministry and the two organisations Mandaviya said that these partnerships would make suitable employment opportunities as well as structured mentoring available to jobseekers particularly in light of the Pradhan Mantri Viksit Bharat Rozgar Yojana coming into effect in August this year These collaborations in turn will benefit not only the youth but the nation at large he addedThe partnership with Mentor Together is expected to reach two lakh youth in its first year including one lakh from NCS and one lakh Pradhan Mantri Viksit Bharat Rozgar Yojana entrants delivering personalised career mentoring with city and districtlevel outreach so that no jobseeker is left behindnbspnbspIt will also enable firsttime job seekers particularly those from underserved backgrounds to access personalised guidance from over 24000 trained professionalsnbspThe MoU renewal with Quikr aims to further strengthen the employment ecosystem by integrating over 1200 daily job listings across 1200 plus cities from Quikr Jobs into the NCS portal This collaboration will expand realtime access to job opportunities for millions of seekers especially from rural and underserved regions the minister added https://dailyworld.in/market/indias-unemployment-rate-at-2-pc-is-lowest-among-g20-nations-mandaviya-637153.html Mon, 08 Sep 2025 17:19:00 +0530 https://dailyworld.in/market/indian-indices-end-marginally-up-as-profit-booking-it-stocks-erase-early-gains-636438.html Mumbai Sep 4 The domestic equity indices ended the session slightly up on Thursday amid volatility The Sensex surged over 900 points in opening trade driven by optimism over GST reforms However it lost most of the gains due to profit booking and selling in IT stocks Sensex ended the session at 8071801 up 15030 points or 019 per cent The 30share index started the session with a massive gapup at 8145667 against the last sessions closing of 8056771 on the GST reform announcementNifty closed at 2473430 up 1925 points 008 per centMarkets witnessed a volatile session and ended marginally higher supported by sweeping GST reforms that signalled a structural tax overhaul The Nifty opened on a strong note led by sharp gains in auto and consumer staples but profittaking and weakness in select heavyweights dragged the index lower as the day progressed said Ajit Mishra SVP Research Religare BrokingEventually it closed with modest gains at 2473430 Sectorwise auto financials and FMCG led the advance while IT energy and realty were the notable laggards The broader indices however underperformed after the recent upmove losing over half a per cent eachThe GST 20 reforms strengthen the case for a consumptionled recovery with auto and consumer staples expected to benefit the most Select metals and infrastructure names linked to rural stimulus also remain in focus said analystsMahindra and Mahindra Trent ITC HDFC Bank ICICI Bank and Asian Paint were the top gainers from the Sensex basket While Maruti BEL HCL Tech PowerGrid Infosys NTPC Kotak Bank Tech Mahindra Tata Motors Tata Steel and UltraTech Cement settled in negative territorySectoral indices showed a mixed reaction amid profit booking Nifty Fin Services jumped 120 points or 047 per cent Nifty Auto escalated 21940 per cent and Nifty FMCG increased 13485 or 024 per cent while Nifty Bank closed flat Nifty IT fell 33185 per cent or 094 per centBroader Indices experienced selling pressure despite positive developments in the form of GST rationalisation Nifty Small Cap 100 fell 126 points or 071 per cent Nifty Midcap 100 slipped 28635 points while Nifty 100 settled the session flatRupee traded weak at 8811 down by 007 as FII remained sellers while GST reform expectations provided limited support IANS https://dailyworld.in/market/indian-indices-end-marginally-up-as-profit-booking-it-stocks-erase-early-gains-636438.html Thu, 04 Sep 2025 17:17:00 +0530 https://dailyworld.in/market/gst-reforms-to-boost-national-growth-spur-delhis-economy-cm-rekha-gupta-636443.html New Delhi Sep 4 IANS Delhi Chief Minister Rekha Gupta on Thursday welcomed the new reforms announced by the GST Council describing them as a decisive step that will give fresh momentum to the citys economy and prove to be a milestone in the countrys growth journeynbspCalling the complete removal of GST on healthcare and life insurance a historic and peoplecentric decision the Chief Minister said this measure would empower citizens to secure their futures without financial burdenThe Chief Minister said that the new reforms will strengthen both Delhis and Indias economies ease the lives of citizens and advance the nation one step closer to selfreliancenbspEvery individual will now be free to purchase life insurance and safeguard their lives This reform will not only enhance financial security but also uphold the spirit of social justice she remarkednbspExpressing gratitude to Prime Minister Narendra Modi and Finance Minister Nirmala Sitharaman the Chief Minister said the people of Delhi wholeheartedly welcome these changesCM Rekha in a statement also appreciated the relief extended to the education sector noting that the exemption of GST on educational materials will significantly ease the financial pressure on parents and studentsnbspThis step will make education more affordable and accessible enabling every child to move towards a brighter future she addednbspThe Chief Minister highlighted that GST exemptions for agriculture and renewable energy will have farreaching benefits for both Delhi and the nationShe pointed out that Delhi has consistently promoted solar and green energy and these reforms will give a fresh push to those initiativesnbspShe emphasised that every decision made in the GST Council meeting was the result of careful deliberationnbspThese reforms are not only farsighted but also bold measures that will accelerate Indias economic growth At such a crucial juncture it is unfortunate that the Congress is attempting to politicise the matter This is a time to unite and support reforms taken in the national interest not to score political points she said https://dailyworld.in/market/gst-reforms-to-boost-national-growth-spur-delhis-economy-cm-rekha-gupta-636443.html Thu, 04 Sep 2025 17:26:00 +0530 https://dailyworld.in/market/mk-stalin-meets-uk-minister-pushes-for-stronger-tamil-nadu-uk-collaboration-636457.html Chennai Sep 4 Tamil Nadu Chief Minister MK Stalin met Catherine West MP Parliamentary UnderSecretary of State IndoPacific at the UKs Foreign Commonwealth and Development Office during his highlevel visit to Britain under the ongoing TN Rising Europe investment drive The talks focused on expanding Tamil NaduUK collaboration across strategic areas from green energy and manufacturing to higher education and maritime connectivity In his discussions with the UK Minister Stalin highlighted Tamil Nadus growing role as a key partner for Britain not only in economic terms but also in climate action research and resilient infrastructure He showcased the states strengths in electric mobility renewable energy IT services and advanced manufacturing inviting deeper UK participation through trade and investment Climate cooperation formed a central theme with the Chief Minister underscoring Tamil Nadus pioneering work in green hydrogen solar and wind power He said the state could serve as a valuable partner in advancing the UKs global climate diplomacy while also positioning itself as Indias leader in the green economy Education and skill development were also high on the agenda Both sides discussed strengthening ties between universities fostering academic exchange and expanding skilling programmes to prepare the workforce for future industries Stalin stressed that partnerships in higher education would benefit students in Tamil Nadu while offering UK institutions a strong base in South Asia Cultural and diaspora linkages were another point of engagement Stalin emphasised the significant Tamil community in the UK as a natural bridge for closer peopletopeople ties He also flagged the states strategic coastal location underlining opportunities for maritime cooperation in logistics shipping and connectivity The meeting builds on Stalins broader UK itinerary which has already seen the signing of several strategic MoUs in aerospace maritime intelligence renewable energy textiles and design education Officials said the meeting with Catherine West further broadened the scope of the TN Rising Europe campaign consolidating Tamil Nadus position as a critical partner for Britain in trade technology and climate initiatives IANS https://dailyworld.in/market/mk-stalin-meets-uk-minister-pushes-for-stronger-tamil-nadu-uk-collaboration-636457.html Thu, 04 Sep 2025 18:11:00 +0530 https://dailyworld.in/market/opposition-has-nothing-to-do-with-development-mos-sanjay-seth-636534.html Ranchi Sep 4 Reacting to opposition statements on the GST slab reforms Minister of State for Defence Sanjay Seth on Thursday said that the opposition has nothing to do with development They do not want to acknowledge the development work happening in India under Prime Minister Narendra Modis leadership In an interaction with IANS he said that when India progresses it goes abroad and criticises the country The people of the nation are also aware of the mental balance of opposition leadersHe thanked PM Modi and Union Finance Minister Nirmala Sitharaman for the reforms in the GST slabs He said that PM Modi has given a gift to 14 billion 140 crore citizens which will make every family prosperous After the GST reforms domesticuse goods education health services agricultural equipment electronics and automobiles will become more affordable This is a big relief for the citizensThe minister further said that Prime Minister Modi is fulfilling the promises made to the people of the country On August 15 from the Red Fort PM Modi said he would give a gift on Diwali and after independence such a big decision has made 14 billion citizens happy The holy festival of Navratri will begin on September 22 and the new slab rates will be implementedHe added that the removal of slabs on critical illnesses and lifesaving medicines in the health sector will directly benefit people The slab has been removed from health insurance as well Slabs on kitchen essentials have been reduced India will move towards selfreliance The slab reforms will encourage people to support indigenous productsMeanwhile Congress leader Subodh Kant Sahay reacted sharply to the GST slab reforms He said that it took the government 12 years to wake up by which time the economy had already been damaged Referring to Rahul Gandhis initial opposition he said that GST was implemented with a dramatic midnight bellringingHe claimed that the GST slabs were made complicated affecting the economy He said the recent slab reforms are the result of Rahul Gandhis questions and pressure He added that this decision is not part of the governments economic policy but was taken under Rahul Gandhis pressure IANS https://dailyworld.in/market/opposition-has-nothing-to-do-with-development-mos-sanjay-seth-636534.html Thu, 04 Sep 2025 22:33:00 +0530 https://dailyworld.in/market/gst-reforms-reflect-swasth-bharat-vision-by-making-essentials-affordable-pm-modi-636542.html New Delhi Sep 4 Prime Minister Narendra Modi on Thursday said that the nextgeneration GST reforms are a step towards building a healthier and stronger India Interacting with social media users on X and responding to posts by economists corporate employees and middleclass people on GST 20 reforms PM Modi said the measures reflect the vision of Swasth Bharat by making essential food items cooking essentials and proteinrich products more affordable for families across the countryThe NextGenGST measures reflect the vision of Swasth Bharat by making essential food items cooking essentials and proteinrich products more affordable for families across India PM Modi saidTogether with initiatives like Ayushman Bharat and POSHAN Abhiyaan these reforms strengthen our commitment to better health balanced nutrition and improved quality of life for every citizen the Prime Minister statedHighlighting the larger journey of reforms the Prime Minister noted that the past decade has been about bold decisions shaping Indias economic landscapePM Modi recalled corporate tax cuts that encouraged investments the rollout of GST that created a unified market and personal income tax changes that enhanced ease of livingAccording to the Prime Minister the new GST reforms continue this journey by making the system simpler fairer and more growthorientedPrime Minister Modi added that Indias fiscal discipline has boosted global confidence and improved the countrys credit ratings laying a strong foundation for a Viksit BharatThe Prime Minister also linked the reforms to the rural economy particularly the dairy sectorPM Modi said that the contribution of Indias Annadatas has been crucial for ensuring nutritional security and strengthening the rural economyThrough initiatives like the Rashtriya Gokul Mission support for cooperatives and continuous reforms our Government remains committed to transforming Indias dairy sector The NextGenGST reforms are another step towards empowering lakhs of dairy farmers boosting value addition and making dairy products more affordable for every household PM Modi added IANS https://dailyworld.in/market/gst-reforms-reflect-swasth-bharat-vision-by-making-essentials-affordable-pm-modi-636542.html Thu, 04 Sep 2025 23:58:00 +0530 https://dailyworld.in/market/gst-booster-sensex-rallies-over-550-points-in-morning-trade-nifty-auto-jumps-251-pc-636327.html Mumbai Sep 4 The Indian benchmark indices opened higher on Thursday buoyed by transformative rate reductions announced by the GST Council across sectors As of 925 am the Sensex was up 554 points or 069 per cent at 81122 and the Nifty was up 159 points or 064 per cent at 24874The broadcap indices Nifty Midcap 100 inched up by 021 per cent and the Nifty Small cap 100 inched up 005 per centThe GST Council has reduced rates across insurance medicines and daily essentials providing significant relief to households farmers and industriesNotably around 90 per cent of items previously taxed at 28 per cent GST have been moved to the 18 per cent slab while nearly 99 per cent of goods in the 12 per cent category now fall under the 5 per cent bracketAmong sectoral indices the Nifty Auto was the top gainer rising 251 per cent followed by Nifty FMCG which gained 173 per cent Nifty IT Nifty Metal andn Nifty Pharma were trading in the red zoneIn the Nifty pack HUL Grasim Industries and Bajaj Finserv Trent were among major gainers while losers included NTPC Reliance Industries Hindalco Industries and HCL TechnologiesAnalysts said that GST reform and fiscal and monetary stimulus can trigger a virtuous cycle boosting Indias growth to 65 per cent in FY26 and perhaps 7 per cent in FY27 with impressive gains in corporate earningsThe revolutionary GST reform has come better than expected benefitting a wide spectrum of sectors The potential big boost to consumption in an economy already experiencing growth momentum may be significant said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedAutomobiles FMCG white goods cement insurance etc will be the focus of the bulls attention There is a high probability of short covering today pushing prices higher than expectations However after the initial enthusiasm tariff issues will continue to haunt the market he addedAsiaPacific markets rose in Thursday following a tech rally overnight on Wall Street even as growing fears around recession weighed on equitiesIn the US markets the Dow Jones Industrial Average slipped by 005 per cent while the Nasdaq advanced by 103 per cent and the SampP 500 inched up 051 per centThe Asian markets traded mixed Chinas Shanghai index slipped 171 per cent and Shenzhen dipped 219 per cent Japans Nikkei was up 123 per cent while Hong Kongs Hang Seng Index dipped 106 per cent South Koreas Kospi inched up 038 per centOn Wednesday foreign investors FIIsFPIs turned net sellers with outflows worth Rs 1666 crore worth of Indian equities while domestic institutional investors DIIs net bought shares worth Rs 2495 crore IANS https://dailyworld.in/market/gst-booster-sensex-rallies-over-550-points-in-morning-trade-nifty-auto-jumps-251-pc-636327.html Thu, 04 Sep 2025 10:08:00 +0530 https://dailyworld.in/market/indian-equity-indices-edge-higher-as-gst-council-meet-begins-636185.html Mumbai Sep 3 The Indian equity indices closed higher on Wednesday amid euphoria around GST rationalisation as the twoday GST Council meeting kicked off Sensex settled at 8056771 up 40983 points or 051 per cent The 30share index opened a bit higher at 8029599 against last sessions closing of 8015788 The index escalated the gaining momentum further to hit an intraday high at 8067128 buoyed by buying in metal FMCG Auto and banking stocksNifty ended the session at 2471505 up 13545 points or 055 per centThe Indian equities closed higher after a mixed start to the session buoyed by expectations of a consumptionled stimulus from the potential GST slab rationalisation said analystsAll categories of consumerbased sectors like discretionary durable and staples continued to outperformIn the near term market sentiment hinges on the outcome of the GST Council meeting with traction on consumptionoriented stocks and sectorsTata Steel Titan Mahindra and Mahindra Eternal SBI ITC Trent HDFC Bank Tata Motors Sun Pharma Kotak Bank LampT and Asian Paints were among the top gainers Infosys Hindustan Unilever NTPC TCS and Bharati Airtel were settled lowerThe majority of Sectoral indices rallied led by Nifty Metal which soared 311 per cent or 292 points amid heavy buying Nifty Fin Services jumped 15960 points or 062 per cent Nifty Bank surged 40655 points or 076 per cent Nifty Auto soared 190 points or 074 per cent and Nifty FMCG escalated 162 points or 029 per centBroader indices followed suit as well Nifty Small Cap 100 soared 15715 points or 089 per cent Nifty Midcap 100 jumped 143 points or 057 per cent Nifty Next 50 closed 44530 points or 066 per centRupee traded slightly positive with gains of 013 at 8802 as markets showed minor strength with focus on the ongoing GST meeting where the outcome in the coming days could provide support to the currencyHowever persistent trade tariff concerns continue to weigh on sentiment keeping pressure intact on the rupee While GST reforms may help cushion the fall the overall trend remains weak and the rupee may test levels towards 8950 in the coming months For the near term the range is expected between 87908845 said Jateen Trivedi of LKP Securities IANS https://dailyworld.in/market/indian-equity-indices-edge-higher-as-gst-council-meet-begins-636185.html Wed, 03 Sep 2025 16:48:00 +0530 https://dailyworld.in/market/andhra-pradesh-backs-gst-reforms-proposed-by-centre-636198.html Amaravati Sep 3 The Andhra Pradesh government has asserted its support for nextgeneration GST reforms proposed by the Centre Participating in the 56th meeting of the Goods and Services Tax GST Council chaired by Union Finance Minister Nirmala Sitharaman in New Delhi on Wednesday Andhra Pradesh Finance Minister Payyavula Keshav stated that the State government fully supports the reforms being proposed by the centre He called it a measure taken in the best interest of the poorest of the poorThe twoday meeting is expected to take up a major revamp of GST slabs compliance simplification measures and nextgeneration reformsSpeaking about the Andhra Pradesh governments stand Finance Minister and Telugu Desam Party TDP leader Payyavula Keshav said the reforms were in line with Prime Minister Narendra Modis Independence Day announcement of a Diwali gift for the peopleAs an alliance partner the Andhra Pradesh government supports these reforms in the GST sector being proposed by the Government of India Most of them are aimed at helping the common man and the poorest of the poor They cover critical sectors such as food education health steel cement and textiles Minister Keshav saidBeing a crucial NDA ally he added the TDP president and Chief Minister Chandrababu Naidu has also backed the reforms calling them a significant step toward reviving the economy and improving peoples livesThe reforms are aimed at expanding the Indian economy while rationalising the tax rates on items of common consumption reducing costs for households and providing relief to millions the Minister notedThe reforms are being suggested with the intention of ensuring benefits are passed on to the customer and endconsumers From the Government of India to all participating states including even opposition voices there is a shared understanding that the consumer must benefit the Finance Minister emphasised IANS https://dailyworld.in/market/andhra-pradesh-backs-gst-reforms-proposed-by-centre-636198.html Wed, 03 Sep 2025 18:00:00 +0530 https://dailyworld.in/market/gst-reforms-are-structural-to-benefit-middle-class-and-farmers-fm-sitharaman-636279.html New Delhi Sep 3 IANS GST reforms are not just for rationalising rates but structural too Finance Minister Nirmala Sitharaman said on Wednesday adding that the decision of the GST Council has been taken with full consensus and all ministers supported rate rationalisationnbspIn most cases GST rates have come down drastically and rates have been cut for farmers and agriculture and healthrelated products she said during a press briefing after the 56th Meeting of the GST Council ended herePM Narendra Modi desired to give the benefit of GST cuts to people at the earliest These reforms are not only on rationalising rates but they are structural too We have corrected the inverted duty structure FM Sitharaman saidnbspThe government has announced sweeping nextgen GST reforms to bring relief across sectors from daily essentials and healthcare to farming education automobiles and appliancesnbspWith tax rates slashed on dozens of items the reform promises to make living more affordable empower small businesses and boost Indias selfreliance under Aatmanirbhar Bharat the Finance Minister saidnbspFM Sitharaman said that in common man and middle class items there is a complete reductionnbspIt has been decided that the GST will be levied on retail sale price RSP instead of transaction value on pan masala gutkha cigarettes unmanufactured tobacco and chewing tobacco like ZardaThe changes in GST rates of all goods except pan masala gutkha cigarettes chewing tobacco products like zarda unmanufactured tobacco and bidi will be implemented with effect from September 22nbspThe GST Council has taken various decisions and recommended various measures to facilitate tradenbspFMnbsp Sitharaman said that a special rate of 40 per cent will apply only to pan masala cigarettes gutka and other tobacco products Caffeinated beverages and carbonated beverages will be covered in the 40 per cent slotAll cars under 1200 cc and bikes under 350 cc will be charged at 18 per cent Hair oil soap bars toothpaste bicycle and tableware will now attract a levy of 5 per centnbspnbspThe GST on agricultural goods such as tractors horticultural forestry machines for soil preparation or cultivation harvesting or crushing machines including straw of followers grass movers and composting machines have come down from 12 to 5 per cent https://dailyworld.in/market/gst-reforms-are-structural-to-benefit-middle-class-and-farmers-fm-sitharaman-636279.html Wed, 03 Sep 2025 23:36:00 +0530 https://dailyworld.in/market/nifty-sensex-open-flat-as-investors-eye-gst-council-meet-outcome-636081.html Mumbai Sep 3 The Indian benchmark indices opened flat on Wednesday tracking weak global cues while investors await the outcome of the twoday GST Council meeting to revise rates As of 929 am the Sensex moved 32 points up or 004 per cent to 80190 while the Nifty 50 inched up 2 points or 001 per cent to 24582The broadcap indices Nifty Midcap 100 advanced by 0278 per cent and the Nifty Smallcap 100 inched up 036 per centAmong sectoral indices Nifty Metal was the top gainer rising 164 per cent followed by Nifty Oil amp Gas which gained 077 per cent Nifty Pharma added 012 per cent and Nifty PSU Bank added 069 per cent eachIn the Nifty pack top gainers included Tata Steel 222 per cent and Hindalco 153 per cent Other gainers included ONGC Axis Bank and TCS Meanwhile the top laggards were Hero Motocorp TATA Cons Prod Bajaj Finance ICICI Bank and SBI Life InsuranceAnalysts said that Nifty continued its recovery momentum on the daily chart and is holding firmly above the 24400 support zoneThe index is consolidating within a broad range indicating a healthy pause after recent gains Immediate support is placed at 24500 followed by 24300 The resistance is seen near 24800 followed by the crucial 25000 psychological mark said Mandar Bhojane from Choice BrokingGlobal uncertainty will increase market volatility Since India has refused Trumps demands the 25 per cent penal tariff is unlikely to be lifted impacting our exports and related jobs in the short run added VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedQ1 GDP growth of 78 per cent indicates economic momentum which will be accelerated by GST reformsThe net result of all these can be an upward revision in the earnings growth for FY26 and FY27 With this FIIs may turn to net buyers in India triggering a rally in the market within a few weeks he addedAsiaPacific markets traded mixed as investors assessed rising global bond yields and the latest developments related to trade and tariffsChinese President Xi Jinping said on Wednesday that the world was facing a choice of peace or war and dialogues or confrontation responding to US President Donald Trump who alleged that Beijing was conspiring against Washington in collusion with Russia and North KoreaThe US markets ended in the red zone overnight as the Dow Jones Industrial Average slipped by 055 per cent while the Nasdaq declined by 082 per cent and the SampP 500 lost 069 per centThe Asian markets traded largely in red zone Chinas Shanghai index slipped 1 per cent and Shenzhen dipped 067 per cent Japans Nikkei was down 029 per cent while Hong Kongs Hang Seng Index dipped 040 per cent South Koreas Kospi inched up 038 per centOn Tuesday foreign investors FIIsFPIs turned net buyers with inflows worth Rs 512 crore worth of Indian equities while domestic institutional investors DIIs net bought shares worth Rs 2118 crore IANS https://dailyworld.in/market/nifty-sensex-open-flat-as-investors-eye-gst-council-meet-outcome-636081.html Wed, 03 Sep 2025 09:57:00 +0530 https://dailyworld.in/market/removing-cotton-import-duty-to-bridge-quality-and-supply-gap-636045.html New Delhi Sep 2 Indias decision to eliminate import duty on raw cotton was driven by urgent supply quality and competitiveness concerns in the textile value chain It is a strategic move initiated to address raw material shortages reduce input costs for textile mills curb inflationary pressures and uphold Indias competitive edge in global textile tradeTextile and apparel exports account for a significant share of Indias foreign earnings Dutyfree access to premium cotton allows domestic producers to offer highquality yarns and fabrics at globally competitive price points reinforcing the Make in India brand and helping retain market share in key destinations such as Europe and North AmericaIn terms of global trade India is the sixth largest exporter of textiles with a 391 per cent share in world textile exports According to the Textile Ministry the sector provides direct employment to over 45 million people making it the second largest employment generator in the country next only to agricultureHowever the countrys cotton production fell from about 35 million bales in 202021 to some 31 million bales in 202425 due to adverse weather conditions and pest attacks The Department of Agriculture said in a recent statement that as of August 15 total cultivation area for cotton has reduced with acreage falling by 324 lakh hectares in 202526 compared to the previous year 202425The governments duty waiver stems from concerns about cotton shortages Industry groups had warned about higher yarn prices leading to an increase in textile prices ahead of the festival seasonDutyfree access to premium cotton allows domestic producers to offer highquality yarns and fabrics at globally competitive price pointsIndias 202425 cotton crop was dominated by mediumstaple varieties while many spinning mills require long and extralong staple fibres to meet higherend yarn specificationsVarious spinning mills usually stockpile lowergrade domestic cotton to blend with imports tying up substantial working capital Industry estimates suggest that duty relief can cut rawmaterial financing needs by 1520 per cent immediately improving cash flows especially for small and mediumsized spinning units grappling with postpandemic demand volatilityThus allowing dutyfree imports plugs this quality and quantity shortfall immediately ensuring uninterrupted production for valueadded textile unitsRemoval of import duty would ease the pressure on domestic textile mills by stabilising raw material costs ahead of the festive season when garments are in high demandConcerns over farmers being affected are addressed through the minimum support price MSP mechanism For the marketing season 202526 growers get Rs 7710 per quintal for medium staple variety while for long staple it is Rs 8110 per quintalThe Cotton Corporation of India continues to procure unsold crops at MSP levels with any losses on stock clearances financed via the federal budget ensuring farmers are insulated from market fluctuationsMeanwhile the calibrated relief measure can defuse trade tensions with Washington which is pushing for broader market access in bilateral tradeIt may signal Indias willingness to use targeted tariff relief as a bargaining chip in broader agricultural and industrial talks IANS https://dailyworld.in/market/removing-cotton-import-duty-to-bridge-quality-and-supply-gap-636045.html Tue, 02 Sep 2025 22:23:00 +0530 https://dailyworld.in/market/sensex-nifty-open-marginally-higher-ahead-of-key-gst-meet-635836.html Mumbai Sep 2 The Indian benchmark indices opened marginally higher on Tuesday as investors are keen on the twoday GST Council meeting this week where a major rate overhaul is expected As of 926 am the Sensex inched up 90 points or 011 per cent to 80454 while the Nifty 50 moved 15 points up or 006 per cent to 24640The broadcap indices Nifty Midcap 100 advanced by 031 per cent and the Nifty Smallcap 100 inched up 010 per centAmong sectoral indices the Nifty media was the top gainer rising 082 per cent followed by Nifty Oil amp Gas which gained 034 per cent each Nifty FMCG advanced 020 per cent All other indices were in red with Nifty IT losing 042 per centIn the Nifty pack top gainers included Eternal and Bajaj Finance which gained 11 per cent and 07 per cent respectively Meanwhile the top laggards were Asian Paints Dr Reddys Labs Hindalco Maruti Suzuki and Axis BankAnalysts noted that on the daily chart Nifty formed a morning star candlestick pattern signalling a potential reversalThe index is currently trading above its longterm EMA while approaching its shortterm and mediumterm EMAs The immediate support is placed at 24400 followed by 24000 On the upside resistance is seen at 24700 followed by the 2480025000 zone said Mandar Bhojane from Choice BrokingAsiaPacific markets traded mixed as investors assessed the Shanghai Cooperation Organisation SCO meeting of leaders in Tianjin China with tariff uncertainty weighing on sentimentUS President Donald Trump reacted to the summit calling trade ties with India a totally onesided disasterChinas Shanghai index slipped 059 per cent and Shenzhen dipped 16 per cent Japans Nikkei was up 025 per cent while Hong Kongs Hang Seng Index dipped 019 per cent South Koreas Kospi inched up 072 per centThe US markets were closed on Monday The markets had ended in the red zone on Friday as the Dow Jones Industrial Average slipped by 02 per cent while the Nasdaq declined by 115 per cent and the SampP 500 lost 064 per centOn Monday foreign investors net sold Rs 1430 crore worth of Indian equities while domestic institutional investors DIIs net bought shares worth Rs 4345 crore according to provisional exchange data IANS https://dailyworld.in/market/sensex-nifty-open-marginally-higher-ahead-of-key-gst-meet-635836.html Tue, 02 Sep 2025 09:59:00 +0530 https://dailyworld.in/market/sensex-gains-330-points-nifty-above-24-500-as-it-stocks-lead-rally-635562.html Mumbai Sep 1 The Indian benchmark indices opened the week on a higher note on Monday as IT and public sector bank stocks led the rally in the early trade Market sentiment was buoyed by a US court ruling declaring that the US President Donald Trumps tariffs were mostly illegal but maintained them until midOctober and betterthananticipated Junequarter GDP dataThe Sensex rose by 335 points or 042 per cent to 80144 while the Nifty 50 gained 10430 points or 043 per cent to 24531The broadcap indices outperformed the benchmarks as the Nifty Midcap 100 advanced by 085 per cent and the Nifty Smallcap 100 was up 070 per centAmong sectoral indices the Nifty IT Index emerged as the top performer rising 159 per cent Nifty Consumer Durables which gained 098 per cent The Nifty Metal and PSU Bank indices advanced 078 and 079 per cent respectively On the other hand the Nifty FMCG Index was the lone laggard slipping 024 per centIn the Nifty pack top gainers included Tech Mahindra TCS Hero Motocorp HCL Tech and Trent Meanwhile the top laggards were Jio Financial down 114 per cent followed by Reliance HUL Maruti Suzuki and Tata Consumer ProductsThe Nifty 50 is trading below its 100DEMA showing a weak trend with risks of further downside if it moves below 24350 Key supports are at 24350 and 24150 while resistance lies at 2460024800 said Mandar Bhojane from Choice BrokingAnalysts are also keen on China India and Russia having united in response to Trumps tantrums affecting global power equations and tradeA US court ruling that Trumps tariffs are illegal is a major development making the Supreme Courts final decision on the issue crucial said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdDomestically Indias Q1 GDP growth number at 78 per cent came much better than expected It appears that the fiscal stimulus provided in the budget and the monetary stimulus provided by the MPC are acting with a lag The proposed GST reforms can accelerate growth in the coming quarters he addedThe US markets ended in the red zone on Friday as the Dow Jones Industrial Average slipped by 02 per cent while the Nasdaq declined by 115 per cent and the SampP 500 lost 064 per centThe Asian markets opened the week mixed Chinas Shanghai index rose 048 per cent and Shenzhen rose 052 per cent Japans Nikkei was down 203 per cent while Hong Kongs Hang Seng Index jumped 202 per cent South Koreas Kospi dipped 083 per centIn August foreign institutional investors FIIs withdrew Rs 34993 crore from Indian stocks their sharpest retreat this year as sentiment was affected by the US tariff shocks and weak Junequarter earnings IANS https://dailyworld.in/market/sensex-gains-330-points-nifty-above-24-500-as-it-stocks-lead-rally-635562.html Mon, 01 Sep 2025 09:59:00 +0530 https://dailyworld.in/market/trumps-dead-economy-jibe-falls-flat-as-indias-gdp-growth-surges-to-78-pc-635201.html New Delhi Aug 29 In a major embarrassment for US President Donald Trump who in a rhetorical overdrive termed India as a dead economy the countrys economic growth has accelerated to 78 per cent in the April to June quarter fortifying its position as the worlds fastestgrowing major economy The strong economic performance amid the US tariff turmoil comes on the back of a 74 per cent growth in the previous JanMarch quarter Q4 FY25The strong macroeconomic fundamentals of the economy are reflected in the high foreign exchange reserves which are sufficient to finance 11 months of imports and inflation is well under controlUnion Commerce and Industry Minister Piyush Goyal said on Friday that Indias exports this year will be higher than last year reflecting the growing competitiveness and resilience of the Indian industry while the government is reaching out to partner countries across the globe to open up new opportunitiesGoyal highlighted Indias expanding network of Free Trade Agreements FTAs with developed countries including Australia the UAE Switzerland Norway Liechtenstein Iceland and the UK with negotiations ongoing with the European Union and othersThese agreements will further open global opportunities for Indian industries such as construction steel and allied sectors he pointed outGoyal further highlighted that several developed countries are eager to expand trade relations with India noting that nations such as Qatar and the United Arab Emirates UAE have expressed keen interest in entering into Free Trade Agreements FTAs with IndiaThe ministers assurance came in the backdrop of the hike in US tariffs on Indian exports to 50 per cent as a punitive step for buying Russian oilAccording to economists the macroeconomic impact of the US hike in tariffs would be cushioned by the large size of Indias domestic marketA recent Morgan Stanley report stated that India is the best placed country in Asia amid the global uncertainty triggered by US President Donald Trumps threat to jack up tariffs because of the nations low goods exports to GDP ratioWhile India is exposed to direct tariff risks we believe on balance India is less exposed to global goods trade slowdown considering that it has the lowest goods exports to GDP ratio in the region the report statedAccording to a Fitch report the large size of Indias domestic market which reduces reliance on external demand is expected to insulate the country from the US tariff hike with the economy expected to maintain a growth of 65 per cent in FY26 IANS https://dailyworld.in/market/trumps-dead-economy-jibe-falls-flat-as-indias-gdp-growth-surges-to-78-pc-635201.html Sat, 30 Aug 2025 00:35:00 +0530 https://dailyworld.in/market/sensex-nifty-open-marginally-higher-fmcg-stocks-lead-rally-634979.html Mumbai Aug 29 The Indian benchmark indices opened marginally higher on Friday as the markets strive to overcome the impact of steep tariffs imposed by the US The Nifty 50 rose by 36 points or 015 per cent to 24537 in early morning trade Meanwhile the BSE Sensex gained 118 points or 015 per cent to 80199BSE Midcap and smallcap indices were trading flat Among sectors FMCG index was up 159 per cent while the auto index was down 084 per cent Nifty Provate bank was up 043 per centAmong the Nifty pack Kotak Mahindra Bank Trent HUL Tata Steel TCS and Asian Paints were among major gainers The major laggards were Shriram Finance Apollo Hospitals Titan Company LampT ICICI BankAnalysts said that Nifty has formed a strong bearish candle on the daily chart highlighting continued selling pressureTechnically a decisive move above 24700 could open the way toward 24850 and 25000 zones while immediate support is placed at 24337 followed by the 200day EMA at 24260levels that may attract fresh long positions said Amruta Shinde from Choice Equity BrokingAnalysts believe that the 50 per cent tariff imposed on India by US which has already gone into effect will have an impact on market sentiment in the near term However the market is unlikely to panic because it will see the high tariffs as a shortterm aberration that will be resolved soonThe markets negative sentiments triggered by the 50 per cent Trump tariff and Indias high valuations have encouraged FIIs to increase their short positions If a quick positive decision on tariff policy is made sentiments can shift and short covering may occur said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedThe policy initiatives in India the fiscal stimulus through the budget the monetary stimulus through rate cuts and the coming GST rationalisation should revive economic growth and corporate earnings in the coming quarters leading to a rally in the market supported by market fundamentals he addedThe US markets inched up overnight as the Dow Jones Industrial Average rose by 016 per cent while the Nasdaq advanced by 053 per cent and the SampP 500 gained 032 per centThe Asian markets traded mixed in the morning session breaking ranks from Wall Street peers as investors assessed a slew of economic data in the region Core consumer prices in Tokyo rose at a slower pace in August The unemployment rate also eased to 23 per cent in July down from 25 per cent the previous monthChinas Shanghai index was flat with 007 per cent uptick while Shenzen added 081 per cent Japans Nikkei was down 043 per cent Hong Kongs Hang Seng Index gained 076 per cent and South Koreas Kospi shed 012 per centOn Thursday foreign institutional investors continued their selling spree for the fourth straight day offloading equities worth Rs 3856 crore Meanwhile domestic institutional investors DIIs remained net buyers purchasing equities worth Rs 6920 crore IANS https://dailyworld.in/market/sensex-nifty-open-marginally-higher-fmcg-stocks-lead-rally-634979.html Fri, 29 Aug 2025 09:59:00 +0530 https://dailyworld.in/market/sensex-nifty-slip-as-heavyweights-drag-stock-markets-amid-tariff-concerns-635105.html Mumbai Aug 29 The Indian equity indices ended the session lower on Friday amid selling in heavyweights led by Reliance The investors remained cautious amid US tariff concerns adopting a mixed approach Sensex ended the session at 7980965 down 27092 points or 034 per cent The 30share index opened flat at 8001083 against the last sessions closing of 8008057 The Index traded flat most of the time before falling over 03 per cent in the closing hour touching an intraday low at 7974176Nifty closed at 2442685 down 7405 points or 030 per centInvestor sentiment remained cautious as markets attempted to digest the full impact of the US tariff The persistence of this issue is likely to heighten the future competitiveness of Indias exports in some areas said Vinod Nair Head of Research Geojit Investments LimitedWhile generally the pressure is also likely to weigh on Indian currency driving it to depreciation Equity benchmarks underperformed with mid and smallcap segments particularly affected by risk aversion and stretched valuations In contrast FMCG stocks sustained their upward momentum supported by expectations of GST rate rationalisation and stronger consumer demand he addedMahindra and Mahindra Reliance Infosys Tata Motors NTPC Tech Mahindra HDFC Bank Titan and Axis Bank settled in negative territory from the Sensex basket ITC BEL LampT Tata Steel PowerGrid SunPharma and HCL Tech were the top gainersThe majority of sectoral indices settled in negative territory amid a mixed approach Nifty Fin Services fell 7260 points or 028 per cent Nifty Bank slipped 164 points or 031 per cent Nifty Auto dipped 222 points or 088 per cent and Nifty IT closed the session 307 points or 087 per cent down Nifty FMCG soared 528 points or 095 per centBroader Indices followed suit as well Nifty Smallcap 100 ended the session 67 points or 039 per cent lower Nifty Midcap 100 dipped 320 points or 057 per cent and Nifty 100 ended the session 75 points or 030 per cent lowerThe rupee hit an alltime low of 8820 falling by another 060 070 per cent as pressure mounted after the US implemented tariffs on Indian products raising concerns over a widening fiscal deficitWhile the upcoming GST council decision is expected to lend some support markets are awaiting clarity on the final GST changes before taking a decisive view Sentiment remains weak and the rupee is expected to trade within a range of 87658845 said Jateen Trivedi of LKP Securities IANS https://dailyworld.in/market/sensex-nifty-slip-as-heavyweights-drag-stock-markets-amid-tariff-concerns-635105.html Fri, 29 Aug 2025 16:58:00 +0530 https://dailyworld.in/market/indian-equity-indices-decline-sharply-over-us-tariff-concerns-634789.html Mumbai Aug 28 IANS The Indian equity indices fell sharply to end the session nearly one per cent lower on Thursday a day after the 50 per cent US tariffs on Indian goods came into effectnbspSensex ended the session at 8008057 down 705 points or 087 per cent The 30share index started the session in negative territory at 80754 against last sessions closing of 8078654 amid selling across the sectors The Index further extended the losing momentum to hit an intraday low at 8001302 following the implementation of US tariffs on Indian goodsnbspNifty settled at 2450090 down 21115 points or 085 per centDomestic equities ended lower as pessimism took hold following the implementation of tariffs on Indian goods dampening investor sentiments While the cotton import duty exemption briefly lifted hopes of policy support to counter tariff impacts triggering a shortlived intraday recovery investor mood remained fragile with large caps declining and mid and small caps underperforming amid riskoff sentiment said Vinod Nair Head of Research Geojit Investments LimitedMost sectors including Auto IT FMCG and Metals traded in the red as investors turned to profitbooking from recent gains while consumer durables outperformed likely supported by GST rationalisation and expectations of festive demand Nair addednbspHCL Tech TCS Power Grid Infosys Hindustan Unilever HDFC Bank ICICI Bank Bharati Airtel Mahindra and Mahindra Trent Tata Motors Sun Pharma NTPC BEL Eternal and SBI were the top losers from the Sensex pack While Titan LampampT Maruti Suzuki and Axis Bank were top gainersThe majority of sectoral indices settled in negative territory amid selling pressure Nifty Fin Services dropped 31230 points or 120 per cent Nifty Bank fell 63010 points or 116 per cent Nifty Auto declined 13680 points or 054 per cent Nifty FMCG closed 57405 points or 102 per cent and Nifty IT slipped 57445 points or 159 per centnbspBroader indices followed suit as well Nifty Small Cap 100 dipped 25425 points or 145 per cent Nifty Midcap 100 fell 71870 per cent or 145 per cent and Nifty 100 closed 235 points or 093 per cent lowerRupee traded weakly as selling pressure in capital markets deepened with FII flows continuing to remain negative amid persistent concerns on Indias growth outlook and fiscal deficitnbspThe imposition of a 50 per cent US tariff has raised uncertainty over exports weighing on overall sentiment until there is clarity on alternatives either through negotiations with the US or by striking trade agreements with other nations investors are likely to stay cautious said Jateen Trivedi of LKP SecuritiesnbspThe rupee is expected to remain under pressure with a nearterm range of 87258825 he added https://dailyworld.in/market/indian-equity-indices-decline-sharply-over-us-tariff-concerns-634789.html Thu, 28 Aug 2025 16:14:00 +0530 https://dailyworld.in/market/sensex-nifty-open-with-gains-as-potential-rate-cut-in-us-boosts-sentiment-633973.html Mumbai Aug 25 The Indian benchmark indices opened the week with gains on Monday as IT stocks led the rally after a potential rate cut in the US boosted investors sentiment The BSE Sensex gained 25141 points or 031 per cent to touch 81558 The Nifty 50 inched up 71 points or 029 per cent up to 24941Sectorwise the Nifty IT index led the gains with 177 per cent surge followed by Nifty Metal index up 088 per cent The majority of other indices showed moderate gainsIn the Nifty pack Infosys Tech Mahindra TCS Bajaj Finance Hindalco and NTPC were the major gainers ICICI Bank Apollo Hospital Jio Financial and Maruti Suzuki were the major laggardsAccording to analysts technically Nifty is hovering near its shortterm support at 24840 which aligns with the 50day EMAA breakdown below this level could drag the index toward 24650 and further down to the broader support zone of 24500 The near term resistance is seen in the 2515025350 zone said Amruta Shinde from Choice Equity BrokingWith major events in the United States scheduled for the coming days traders largely sat on their handsNifty broke out of the channel but selling pressure was seen around its resistance zone of 24950 to 25000 and 24600 to 24673 will be an important support zone in the near term added Vikram Kasat HeadAdvisory PL CapitalThe Jackson Hole Symposium that concluded on August 23 saw US Fed Chairman Powell hint at potential rate cuts boosting optimism for FPI inflows into IndiaAsiaPacific markets mostly rose on Monday The US markets had shown strong gains on Friday as the Dow Jones Industrial Average rose by 189 per cent while the Nasdaq advanced by 188 per cent and the SampP 500 gained 152 per centThe Asian markets opened the week in green as Chinas Shanghai index rose 059 per cent Japans Nikkei was up 068 per cent and Hong Kongs Hang Seng Index gained 193 per cent South Koreas Kospi advanced 089 per centOn August 22 foreign institutional investors FIIs sold Indian equities worth Rs 1622 crore while domestic institutional investors DIIs offloaded shares worth Rs 329 crore IANS https://dailyworld.in/market/sensex-nifty-open-with-gains-as-potential-rate-cut-in-us-boosts-sentiment-633973.html Mon, 25 Aug 2025 10:16:00 +0530 https://dailyworld.in/market/indian-indices-close-higher-amid-us-fed-rate-cut-expectations-634080.html Mumbai Aug 25 IANS The Indian equity indices settled in the positive territory on Monday amid expectations around a rate cut by the US Federal Reserve next monthnbspBuying in IT heavyweights remained the key reason behind the rallynbspSensex ended the session at 8163591 up 32906 or 040 per cent After a sharp decline in the last session the 30share index opened with a decent gapup at 8150106 against the previous sessions closing of 8130685 The index further escalated the momentum to touch an intraday high at 8179906 but remained rangeboundnbspNifty closed 2496775 up 9765 points or 039 per centA wave of optimism swept through the domestic market driven by expectations of a Fed rate cut in September and a subsequent decline in the US 10year yield said Vinod Nair Head of Research Geojit Investments LimitednbspThe IT index outperformed buoyed by favourable global sentiment The domestic levers stay positive with the proposed GST rationalisation to push consumption demand and a good monsoon season could serve as a catalyst to navigate any uncertainty in the global trade environment he addedInfosys TCS HCL Tech Tech Mahindra Sun Pharma Bajaj Finance Tata Motors Maruti Suzuki Tata Steel and Titan were the top gainers in the Sensex basket While BEL Asian Paints and Bharati Airtel settled in negative territorynbspSectoral indices experienced mixed reaction with Nifty Financial Services and Nifty Bank settled the session flat while Nifty Auto escalated 9395 points or 037 per cent Meanwhile Nifty IT soared 83920 points or 237 per cent amid heavy buying interestBroader indices remained positive during the session Nifty Next 50 jumped 17125 points or 025 per cent Nifty 100 escalated 9410 points or 037 per cent and Nifty Midcap 100 settled 71 points or 012 per cent highernbspThe rupee traded lower by 007 at 8758 as the dollar index showed a minor rebound towards 9800 after last Fridays Feds clear hint of a rate cut in September 2025nbspWhile the rupee opened with a minor gapup it quickly gave up gains as dollar strength resurfaced Persistent FII outflows with foreign investors remaining net sellers in the Indian market continue to weigh on sentiment said Jateen Trivedi of LKP SecuritiesnbspGoing forward Powells policy stance global crude trends and FII flows remain crucial for direction Support for the rupee is seen at 87958810 while resistance is placed at 87258750 Trivedi added https://dailyworld.in/market/indian-indices-close-higher-amid-us-fed-rate-cut-expectations-634080.html Mon, 25 Aug 2025 16:58:00 +0530 https://dailyworld.in/market/exclusive-business-chamber-the-imperial-launched-at-belvedere-golf-and-country-club-in-adani-shantigram-633811.html Ahmedabad Aug 23 Gujarat has a new address for enterprise and culture with the launch of The Imperial Opulent Business Chamber at the Belvedere Golf and Country Club in Adani Shantigram said Adani Realty the real estate arm of the diversified Adani Group on Saturday Conceived as an invitationonly chamber for eminent business personalities of repute The Imperial offers a 10year membership that blends business exclusivity with curated indulgence from private lounges and cuttingedge conferencing to luxury stay privileges spa benefits and access to cultural salons and global forumsDesigned as a firstofitskind institution The Imperial combines heritageinspired architecture with contemporary business engagement spaces said the companyBeyond being a venue it is envisioned as a hub where leaders and innovators meet collaborate and exchange ideas through curated forums masterclasses and cultural evenings it addedThe inauguration brought together leading industrialists cultural patrons and creative minds for an elegant reception featuring live performances and fine diningAt its core The Imperial represents understated luxury with transformative purpose a living archive of Gujarats legacy of trade and intellect while creating a futureready space for collaboration dialogue and leadershipAdani Realty has developed close to 31 million square feet and approximately 108 million sq ft of real estate space is under development including residential commercial and social club projects across Ahmedabad Mumbai Pune and Gurugram IANS https://dailyworld.in/market/exclusive-business-chamber-the-imperial-launched-at-belvedere-golf-and-country-club-in-adani-shantigram-633811.html Sat, 23 Aug 2025 22:18:00 +0530 https://dailyworld.in/market/stock-market-ends-6-session-winning-streak-amid-weak-global-cues-633565.html Mumbai Aug 22 The domestic equity indices settled in the negative territory on Friday ending the sixsession momentum amid overall selling as investor sentiment turned cautious ahead of the US Fed Chairs speech Sensex ended the session at 8130685 down 69386 points or 085 per cent Ending upward momentum the 30share index opened the session in negative territory at 8195148 against last sessions closing of 8200071 The index further extended the losing momentum to hint intraday low at 8129177 amid overall sellingNifty closed at 2487010 down 21365 points or 085 per centThe Indian equity market closed in the red ending a sixsession winning streak and erasing gains accumulated over the past three days Investor sentiment turned cautious ahead of the US Fed Chairs speech at the Jackson Hole symposium which is expected to provide critical insights into the global liquidity outlook and future interest rate trajectory said Vinod Nair Head of Research Geojit Investments LimitedThe US using trade tariffs on India as a strategic tool in its stance against Russia has raised nearterm concerns among institutional investors he addedAsian Paints Ultratech Cement Tata Steel ITC HCL Tech Kotak Bank TCS HDFC Bank Tech Mahindra SBI Eternal and ICICI Bank were the top losers from the Sensex basket While Mahindra and Mahindra Maruti and BEL were settled in the redThe majority of sectoral indices felt the selling pressure during the session Nifty Fin Services fell 256 points or 096 per cent Nifty Bank slipped 606 points or 109 per cent Nifty FMCG dipped 56560 points or a per cent and Nifty IT closed falling 28305points or 079 per centMeanwhile broader indices remained rangebound Nifty small cap 100 fell 46 points or 026 per cent Nifty Midcap 100 settled 79 points or 014 per cent down and Nifty 100 slipped 209 points or 082 per centThe rupee weakened by 025 settling at 8750 after initially gaining on the GST reduction news but the momentum faded as persistent FII selling pressure weighed on sentimentMarket focus now shifts to Powells speech at Jackson Hole which is expected to guide the dollar index and thereby influence rupee direction Crude price movements and global risk sentiment will also play a crucial role in determining nearterm trends said Jateen Trivedi of LKP SecuritiesTechnically the rupee has immediate support near 8775 while resistance is seen around 8715 suggesting a volatile yet rangebound trade ahead he added IANS https://dailyworld.in/market/stock-market-ends-6-session-winning-streak-amid-weak-global-cues-633565.html Fri, 22 Aug 2025 16:46:00 +0530 https://dailyworld.in/market/indian-stock-market-ends-higher-amid-gst-rate-overhaul-633347.html Mumbai Aug 21 The Indian equity indices settled the session with slight gain on Thursday continuing the rally for the fourth consecutive day The session remained rangebound amid mixed reactionvalue buying and profit booking at the same time Sensex closed at 8200071 up 14297 points or 017 per cent Continuing the rally for the fourth consecutive session the 30share index opened with a decent gapup at 8222046 against last sessions closing of 8185784 However the index remained rangebound amid profit booking in the Auto and FMCG sectorsNifty settled the session at 2508375 up 013 per cent or 3320 pointsIndian equities ended mixed as investors turned to profit booking after a recent rally and concerns over the premium valuation due to the subdued end of Q1 earnings said Vinod Nair Head of Research Geojit Investments LtdIn a positive development the Group of Ministers GoM on GST rate rationalisation approved the proposal to scrap the current fourrate structure and move towards dual rates of 5 per cent and 18 per centThis marks the first major step in implementing the nextgeneration GST reforms announced by Prime Minister Narendra Modi in his Independence Day address said Siddhartha Khemka Head of Research Wealth Management Motilal Oswal Financial Services LtdIndias recordhigh composite PMI in August reflecting strong expansion in both manufacturing and services particularly in business activity may provide stability in the near term he addedBajaj FinServ ICICI Bank Bajaj Finance LampT BEL Sun Pharma and Titan were the top gainers from the Sensex basket PowerGrid Eternal Hindustan Unilever NTPC Mahindra and Mahindra and Tata Motors settled in negative territoryThe sectoral indices experienced a mixed reaction amid value buying and profit booking NiftyFin Services up 85 points or 032 per cent and Nifty Bank up 5695 points or 010 per cent ended the session in green While Nifty Auto down 9175 points or 036 per cent and Nifty FMCG down 361 points or 064 per cent settled in negative territory Nifty IT closed flatThe broader indices felt some pressure amid profit booking Nifty Midcap 100 fell 221 points or 038 per cent while Nifty Small Cap 100 and Nifty 100 ended the session almost flatGoing ahead analysts expect the Indian market to remain firm backed by optimism around GST reforms and an improved pace of corporate earnings growthRupee traded weak by 017 at 8722 as markets reacted to the anticipated GST restructuring IANS https://dailyworld.in/market/indian-stock-market-ends-higher-amid-gst-rate-overhaul-633347.html Thu, 21 Aug 2025 17:11:00 +0530 https://dailyworld.in/market/midcap-and-smallcap-indices-rally-over-20-stocks-gain-10-50-pc-this-week-632282.html Mumbai Aug 16 BSE mid and smallcap indices ended a threeweek losing streak even as Indian benchmark indices also broke a sixweek losing pattern gaining 1 per cent this week The BSE midcap indices increased by 1 per cent while the BSE smallcap index rose by 04 per cent for the weekOver 20 major smallcap and midcap stocks saw gains ranging from 985 per cent to 5496 per cent with most clustering between 1020 per centThe weekly gains follow positive inflation data from the US and India inline earnings rupee appreciation and falling oil pricesAs the June quarter Q1 FY26 earnings are out the revenue moderation took average net profit expansion YoY for the benchmark Nifty 50 companies excluding financials and oil and gas to midsingle digitsOn the earnings front though the Nifty50 Q1 FY26 earnings were in line with the market estimates The overall trend was mixed during the quarter as the revival expected from urban demand is yet to gather momentum according to analystsMost sectoral indices were in positive territory for the week with the Pharma and Healthcare indices leading the gains both rising over 3 per cent Profit booking occurred in select FMCG pharmaceutical and consumer durable stocksOn the last trading day of the week FIIs net sold equity shares worth Rs 1926 crore having bought stocks valued at Rs 13646 crore but offloaded shares worth Rs 15572 crore In contrast DIIs net purchased equities worth Rs 3895 croreAnalysts said that benign domestic inflation is at an eightyear low boosting hopes for a revival in discretionary spending Additionally SampPs upgrade of Indias sovereign credit rating to BBB is expected to boost investor sentiment and support longterm growthAlso SampP Global Ratings has upgraded longterm issuer credit ratings on seven Indian banks and three nonbanking financial companies NBFCs The banks are State Bank of India HDFC Bank ICICI Bank Axis Bank Union Bank of India Indian Bank and Kotak Mahindra Bank and the NBFCs are Bajaj Finance Tata Capital and LampampT Finance IANS https://dailyworld.in/market/midcap-and-smallcap-indices-rally-over-20-stocks-gain-10-50-pc-this-week-632282.html Sat, 16 Aug 2025 18:25:00 +0530 https://dailyworld.in/market/nifty-sensex-open-higher-in-early-trade-metal-stocks-lead-gains-631849.html Mumbai Aug 13 The Indian benchmark indices opened higher on Wednesday after the US inflation data raised expectations of a Federal Reserve rate cut The BSE Sensex advanced 022 per cent or 179 points to 80414 points The Nifty 50 inched up to 24557 advancing 70 points or 029 per centBroader market indices outperformed the benchmark indices with the BSE SmallCap adding 065 per cent and the BSE MidCap climbing 064 per centSectorally Nifty Metal surged 157 per cent and Nifty Realty surged 076 per cent The majority of other indices were mixed showing modest gains and losses in the range of 010 to 040 per centIn the Nifty pack Apollo Hospitals led the gainers surging around 5 per cent followed by Hindalco and Tata Motors Among laggards Maruti Suzuki slipped 051 per cent followed by Tech Mahindra and Axis Bank which posted modest lossesUS President Donald Trumps harsh tariffs and the straining of relations between the US and India have impacted the market sentiments according to analystsConsequently shorts have piled up pulling the market down The tepid earnings growth elevated valuations and modest projection of 810 per cent earnings growth for FY26 have emboldened the bears to increase their short positions A sudden reversal of sentiments can lead to short covering and a sharp recovery in the market said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdThe daily chart shows the formation of a bearish candle with a long upper wick reflecting selling pressure at higher levels Key support levels are placed at 24400 and 24300 and a breakdown below these levels may extend the decline toward the 24000 zone Immediate resistance is seen at the 24600 zone added Amruta Shinde from Choice BrokingAsiaPacific markets were largely in the green zone after the latest US inflation data raised expectations that the Federal Reserve could cut interest rates next monthIn the US markets the Dow Jones advanced 111 per cent SampP 500 gained 113 per cent and Nasdaq Composite surged 139 per centAll major Asian markets were firmly in the green Japans Nikkei hit fresh high surging 246 per cent Chinas Shanghai Composite gained 044 per cent and the Shenzhen Composite added 134 per cent Hong Kongs Hang Seng Index jumped 181 per cent and South Koreas Kospi gained 063 per centOn Tuesday foreign institutional investors FIIs extended their selling streak offloading equities worth Rs 3399 crore while domestic institutional investors DIIs were net buyers purchasing equities worth Rs 3508 crore IANS https://dailyworld.in/market/nifty-sensex-open-higher-in-early-trade-metal-stocks-lead-gains-631849.html Wed, 13 Aug 2025 09:58:00 +0530 https://dailyworld.in/market/nifty-sensex-open-flat-amid-mixed-global-cues-631610.html Mumbai Aug 12 The Indian benchmark indices opened flat on Tuesday amid mixed global cues after the US and China extended their trade truce overnight for another 90 days The BSE Sensex advanced 010 per cent or 80 points to 80684 points The Nifty 50 inched up to 24612 advancing 011 per centBroader market indices also saw buying activity with the BSE SmallCap adding 039 per cent and the BSE MidCap climbing 006 per centOn the sectoral front Nifty IT gained 079 per cent and Nifty Metal adavanced 060 per cent The majority of other indices were mixed showing modest gains and losses in the range of 010 to 040 per centIn the Nifty pack Hero MotoCorp led the gainers followed by Tata Steel and TCS Among laggards Dr Reddys Laboratories topped the list with a 091 per cent decline followed by ICICI Bank HDFC Bank Grasim and Bajaj FinanceTechnically a decisive move above 24650 could pave the way for an upside move towards 24850 with immediate support located at 24500 and 24330 both of which are considered attractive zones for new long positions said Amruta Shinde from Choice BrokingAsiaPacific markets were mostly in the green as the overnight extension of the USChina trade truce boosted investor sentiments The US and China on Monday extended their trade truce until November 10 US had earlier threatened imposing 145 per cent tariffs on Chinese goods and Beijing retaliated with 125 per cent duties on US shipments both of which have been paused till November 10Investors are closely monitoring developments in the USIndia trade deal quarterly earnings results tariff rhetoric and upcoming inflation data for cuesIn the US markets the Dow Jones slipped 045 per cent SampP 500 025 per cent and Nasdaq Composite declined 030 per centAsian markets were mostly higher in the green Japans Nikkei reached record level surging 246 per cent Chinas Shanghai Composite gained 041 per cent and the Shenzhen Composite added 019 per cent Hong Kongs Hang Seng Index was flat and South Koreas Kospi gained 040 per centOn Monday foreign institutional investors FIIs sold equities worth around Rs 1200 crore while domestic institutional investors DIIs were net buyers of Rs 5972 crore worth of equities IANS https://dailyworld.in/market/nifty-sensex-open-flat-amid-mixed-global-cues-631610.html Tue, 12 Aug 2025 09:55:00 +0530 https://dailyworld.in/market/stock-market-ends-lower-ahead-of-key-inflation-data-tariff-concerns-631683.html Mumbai Aug 12 The Indian benchmark indices ended lower on Tuesday as investors awaited the release of July inflation data from both domestic and the US sources amid tariff concerns Sensex ended the session at 8023559 down 36849 or 046 per cent The 30share index started the session in negative territory at 8050851 against last sessions closing of 8060408 as participants awaited the release of July inflation data from both domestic and US sources The index remained range bound amid heavy volatilityNifty settled at 2448740 down 9765 points or 040 per centBajaj Finance Trent Hindustan Unilever Eternal HDFC bank Bajaj FinServ Bel ICICI Bank Kotak bank and Reliance were among the top losers from the Sensex basket While Maruti Suzuki Tech Mahindra Mahindra and Mahindra NTPC Sun Pharma Tata Steel and Titan settled higherMajority of sectoral indices felt pressure during the trading hours amid persistence selling Nifty Fin Services dropped 270 points or 102 per cent Nifty Bank fell 46705 points or o84 per cent and Nifty FMCG ended the session 275 points or 050 per cent lower Nifty IT and Nifty Auto settled in greenBroader indices experienced mixed reaction with Nifty next 50 and Nifty small cap 100 closed flat while Nifty Midcap 100 descended 154 points or 027 per cent Nifty 100 closed 86 points or 034 per cent lowerThe national market reacted with volatility to the ongoing developments in global trade tariffs reflecting caution following the extension of the USChina tariff truce and ahead of key inflation data due laterThe US inflation figures with any signs of tariffrelated impact could influence the Feds policy stance Meanwhile domestic inflation is expected to continue below the RBIs range Sectorwise healthcare and automobile stocks posted gains while financials and real estate weighed on the index In the near term stockspecific movements are likely to persist with investors attention focused on domestic consumptionled sectors to beat volatility explained Vinod Nair Head of Research Geojit Investments LimitedMeanwhile rupee traded flat near 8770 as the dollar index hovered around 9830 with a slightly positive bias Firm crude prices kept pressure on the rupee while traders awaited the release of US CPI data later this evening for fresh cues said experts IANS https://dailyworld.in/market/stock-market-ends-lower-ahead-of-key-inflation-data-tariff-concerns-631683.html Tue, 12 Aug 2025 17:34:00 +0530 https://dailyworld.in/market/652-teams-register-for-delhi-govts-industrial-ideathon-2025-631558.html New Delhi Aug 11 The Delhi governments flagship Industrial Ideathon 2025 has drawn an unprecedented response from student innovators with 652 teams registering to compete for Rs 40 lakh worth of prizes and rewards The Ideathon would be held in four categories and offer a chance to the winners to present solutions before industry stalwarts and government decisionmakersOrganised by the Delhi State Industrial and Infrastructure Development Corporation DSIIDC on behalf of the Industries Department GNCTD and cohosted by the prestigious Netaji Subhash University of Technology NSUT as the official knowledge partner the competition invites students to create technologydriven practical solutions to industrial challenges in DelhiIndustries Minister Manjinder Singh Sirsa said This overwhelming participation is proof that Delhis youth want to be part of shaping our industrial future Its proof that they are ready to solve the realworld problems that our businesses face every dayFrom the 652 registrations 124 shortlisted teams will now participate in the Preliminary Round on August 13 at NSUT During the 8hour challenge they will work on four key problem statements Last Mile Logistics inefficiencies and fragmented supply chains in Delhis industrial hubs 175 entries Tech solutions to improve Ease of Doing Business for startups and entrepreneurs 188 entries Adoption of Industry 40 technologies for small and medium industrial units in Delhi 125 entries and Building Resilient MSMEs through access to finance markets and technology 164 entriesFollowing the preliminary round 40 finalist teams the top 10 from each category will advance to the Grand Finale on August 22 where they will present refined solutions before industry and government leadersSirsa added With the Industrial Ideathon we are creating a bridge between academia industry and government Students get to work on live problems with measurable impact while policymakers gain fresh actionable ideas straight from the countrys brightest young minds This is policy by participation in its truest form IANS https://dailyworld.in/market/652-teams-register-for-delhi-govts-industrial-ideathon-2025-631558.html Mon, 11 Aug 2025 21:29:00 +0530 https://dailyworld.in/market/bengaluru-tech-summit-2025-must-send-out-big-message-to-world-shivakumar-631562.html Bengaluru Aug 11 Karnataka Deputy Chief Minister DK Shivakumar on Monday said the Bengaluru Tech Summit 2025 must send out a big message to the world Speaking at a preparatory meeting for the summit with officials and businessmen he said We are not competing with our neighbouring states such as Tamil Nadu Telangana Maharashtra and Andhra Pradesh Bengaluru is being seen as a global IT capital Our IT Minister is chalking out things to meet those standardsMore than one lakh people are likely to visit the summit to be held from November 18 to 20 All of you should be our brand ambassadors he told the businessmenHe said that Bengaluru has two lakh foreigners working or doing business adding that as many as 7000 foreign students are also studying hereThe IT policy introduced by former CM late SM Krishna is the key driver for Karnatakas success in IT Of the total IT exports of 385 billion dollars in India Bengalurus share is 160 billion dollars Our government is working on providing all possible support to the IT industry he saidI appeal to all of you to spend your CSR funds on government schools in rural areas Our government is building 2000 Karnataka Public Schools in all the taluks I appeal to you to invest in these schools There are 50000 teachers posts vacant currently and hence private sector is being roped in for support he addedI spoke to the PM about Bengalurus development Bengaluru must not be seen as Karnatakas capital but as the nations capital We have taken up projects worth Rs 15 lakh crore to develop various projects in Bengaluru Shivakumar addedHe pointed out that new cities will be built under the Greater Bengaluru Authority adding that a 10000acre township is also planned at BidadiWe will provide more info on this in the next 1015 days We are also planning to extend the metro till Bidadi he saidParticipating in the event Cihef Minister Siddaramaiah said that Karnataka is known for its rich culture and its leadership in technologyFrom the Mysuru Kings to the first IT policy in 1997 and the Global Capability Centre Policy in 2024 we have always planned for the future Our state sets a global standard for innovation talent and businessfriendly policies he saidOur vision is simple which is to make Karnataka the place where the world comes to solve its biggest challenges Whether it is curing diseases developing sustainable energy solutions or building the computers of the future we will provide the talent infrastructure and policy support to make it happen said Siddaramaiah IANS https://dailyworld.in/market/bengaluru-tech-summit-2025-must-send-out-big-message-to-world-shivakumar-631562.html Mon, 11 Aug 2025 21:32:00 +0530 https://dailyworld.in/market/over-3098-crore-unorganised-workers-now-registered-on-eshram-portal-minister-631439.html New Delhi Aug 11 Over 3098 crore unorganised workers have been registered on eShram portal including over 337 lakh workers who have registered themselves as Platform workers till August 3 the Parliament was informed on Monday The Ministry of Labour and Employment launched eShram portal on August 26 2021 for the creation of a comprehensive National Database of Unorganised Workers NDUW seeded with AadhaareShram portal is meant to register and support the unorganised workers by providing them a Universal Account Number UAN on a selfdeclaration basis said Labour Minister Mansukh Mandaviya in a written reply to a question in the Lok SabhaSocial media platforms are also being used to spread awareness among workers to register on eShram State Seva Kendras SSKs and services of Common Service Centres are onboarded to facilitate assisted mode registrations of unorganised workers the minister saidRegistration camps and awareness drives are conducted for the implementation and outreach of the eShram Scheme These camps are organised by the Ministry from time to time in coordination with Common Service Centre CSC Dattopant Thengadi National Board for Workers Education and Development DTNBWED and the State Labour DepartmentThe eShram is OneStopSolution that integrates different social security schemes into a single portal This enables unorganised workers registered on eShram to access social security schemes and see the benefits availed by them so farAt least 14 schemes of different Central Ministries and Departments have already been integrated with the eShram portal to extend benefits and access to social security insurance or skill development programmes including Pradhan Mantri Street Vendors Atmanirbhar Nidhi PMSVANidhi Pradhan Mantri Suraksha Bima Yojana PMSBY Pradhan Mantri Jeevan Jyoti Bima Yojana PMJJBY National Family Benefit Scheme NFBS Mahatma Gandhi National Rural Employment Guarantee scheme MGNREGS Pradhan Mantri Awas Yojana Gramin PMAYG Ayushman Bharat Pradhan Mantri Jan Arogya Yojana ABPMJAYAlso the Pradhan Mantri Awas Yojana Urban PMAYU Pradhan Mantri Matsya Sampada Yojana PMMSY Pradhan Mantri Kisan Maan Dhan Yojana PMKMY One Nation One Ration Card ONORC and Pradhan Mantri Matru Vandna Yojana PMMVY are also integrated with the portal IANS https://dailyworld.in/market/over-3098-crore-unorganised-workers-now-registered-on-eshram-portal-minister-631439.html Mon, 11 Aug 2025 14:55:00 +0530 https://dailyworld.in/market/rbi-leaves-repo-rate-unchanged-at-55-pc-sticks-to-neutral-stance-630323.html Mumbai Aug 6 RBI Governor Sanjay Malhotra announced on Wednesday that the monetary policy committee has decided to keep the repo rate unchanged at 55 per cent while sticking to the neutral monetary policy stance He said the decision was taken unanimously by the MPC after a detailed assessment of the macroeconomic situation and the growthinflation dynamicsA neutral stance requires neither stimulation nor curbs on liquidity as it strikes a fine balance between controlling inflation without hurting growthThe RBI Governor said that inflation had come down to much lower levels there was still some volatility in food prices especially vegetables However core inflation had remained steady at around 4 per centHe also said that the good monsoon and the upcoming festive season were expected to spur economic activityThe RBI Governor said that the Indian economy was expected to post robust growth in the medium term amid the global trade uncertainty backed by supportive policies of the Government and the RBIHe highlighted that the bright prospects for the Indian economy come amid the muted growth and an uptick in inflation in the world economyDuring its last monetary policy meeting in June 6 the RBI announced a 50 basis points cut in the repo rate from 6 per cent to 55 per cent and 100 basis point cut in the Cash Reserve to spur growthThe RBI Governor said the repo rate has now been reduced 100 basis points in quick succession since Feb this year and the transmission to the economy was still working outA lower policy rate and more liquidity with banks leads to a decline in interest rate on bank loans which makes borrowing easier for consumers as well as businesses resulting in more consumption and investments in the economy leading to higher growthHowever the effectiveness of the rate cut hinges on how quickly and efficiently commercial banks pass on the benefits to borrowersMalhotra also said the RBI was working to keep the inflation rate in check and support growth with the acceleration in the easing monetary policy cycle IANS https://dailyworld.in/market/rbi-leaves-repo-rate-unchanged-at-55-pc-sticks-to-neutral-stance-630323.html Wed, 06 Aug 2025 10:50:00 +0530 https://dailyworld.in/market/indian-stock-market-settles-lower-amid-higher-us-tariffs-concerns--630182.html Mumbai Aug 5 IANS The Indian stock market settled in negative territory on Tuesday amid a mixed reaction from investors following the US President Donald Trumps fresh tariff threat and Indias stern reply to itnbspSensex closed at 8071025 down 30847 points or 038 per cent The 30share index opened the session slightly down at 8094643 against last days closing of 8101872 However the index further extended the loss amid a mixed approach in Auto and Consumer Durable stocks and selling in the Pharma and Consumer goods sectorNifty settled at 2464955 down 73 points or 030 per centnbspSectoral trends remained mixed as Auto and Consumer Durables showed relative strength while most other sectors ended in the red Notably Oil ampamp Gas Pharma Construction and Consumer Goods experienced pronounced weakness said Ashika Institutional Equities in its notenbspAhead of tomorrows monetary policy announcement caution prevailed and banking stocks came under renewed selling pressure during the second half of the session it addedReliance Industries Infosys ICICI Bank Eternal BEL Powergrid and HDFC Bank were the top losers While Titan Maruti Trent Bharati Airtel Bajaj Finance LampampT SBI and Tech Mahindra settled in positive territorynbspThe majority of sectoral indices ended the session in negative territory amid a mixed approach Nifty Fin Services fell 103 points or 039 per cent Nifty Bank ended the session 259 points or 047 per cent lower Nifty IT declined 168 points or 048 per cent and Nifty FMCG closed 405 points lower Nifty Auto settled in greenRupee traded weak at 8780 as panic gripped markets following a lateevening post by the US President hinting at higher tariffs on IndianbspExpectations that the US may pressure India to reduce Russian oil imports sparked fears of a higher import bill pushing the rupee briefly below the 8800 mark overnight said Jateen Trivedi of LKP SecuritiesnbspSome recovery was seen after the Ministry of External Affairs clarified Indias stance on crude purchases Trivedi added https://dailyworld.in/market/indian-stock-market-settles-lower-amid-higher-us-tariffs-concerns--630182.html Tue, 05 Aug 2025 16:05:00 +0530 https://dailyworld.in/market/five-governors-grace-convocation-2025-in-a-singular-honour-for-op-jindal-global-university-629365.html Sonipat Aug 1 In an unprecedented honour for OP Jindal Global University JGU five Governors participated in the 14th Annual Convocation 2025 held during July 2930 The presence of these outstanding personalities each of them a constitutional authority and representative of a different state or Union Territory elevated the occasion as JGU celebrated the spirit of federalism which is embedded in the Constitution of India and which sustains our democracyThe 14th Convocation Ceremony of JGU witnessed the graduation of over 4400 students across all 12 Schools and Institutes of our universityThis took place in the presence of several distinguished leaders who graced the ceremony They were Delhi Lieutenant Governor Vinai Kumar Saxena Odisha Governor Hari Babu Kambhampati Bihar Governor Arif Mohammed Khan Andhra Pradesh Governor Justice Retd S Abdul Nazeer and Himachal Pradesh Governor Shiv Pratap ShuklaOther leaders and luminaries at the event wereJustice Gita Mittal Chairperson Broadcasting Content Complaints Council BCCC amp Former Chief Justice High Court of Jammu and Kashmir Ravneet Kaur Chairperson Competition Commission of India R Venkataramani Attorney General for India Wilima Wadhwa Director ASER Centre Pratham Education Foundation Ina Krisnamurthi Ambassador Extraordinary and Plenipotentiary of Indonesia to the Republic of India Rasmus Abildgaard Kristensen Ambassador of Denmark to the Republic of India and NonResident Ambassador Designate to Nepal Sri Lanka Bhutan and the MaldivesOP Jindal Global University Chancellor Naveen Jindal whose philanthropy led to the establishment of JGU in 2009 said To have five Governors preside over our Convocation is a moment of national recognition for JGUs journey values and aspirations I extend my sincere gratitude to the Chief Guests and the Guests of Honour for being a part of this important occasion Your presence and participation at our Convocation is a testimony to your commitment to the cause of higher educationChancellor Jindal reminded the graduating students that they were in an era with unprecedented access to technology AI and global changes with the world being reshaped and evolving constantlyYour journey and your ambitions should be extraordinary he saidIn his address he added Degrees and qualifications open doors but it is your integrity compassion and cooperation that will determine how far you go in life Education is not just a tool for personal growth it is the foundation on which a nations prosperity can be built We live in a world of increased visibility but the quietest acts of leadership have the most impactProfessor C Raj Kumar the Founding Vice Chancellor of the JGU said At JGU we are conscious that our institutionbuilding activities contribute to addressing broader national challenges In this endeavour the principles of academic freedom and pursuit of institutional excellence have underpinned our efforts Our institutional strategy and policies have evolved to enable JGU students and scholars to undertake research that is interdisciplinary wideranging in scope impactful and covering issues of national and global concernHe said JGU has grown into an institution with over 16000 students across 12 Schools which brings faculty from 51 countries of the world students from over 75 countries and has collaborated with over 550 leading institutions from 80 countries to bring international experiences to the Indian higher education system JGUs pedagogical approach as well as research and capacity building institutes lay focus on promoting interdisciplinarity through crosslisted elective courses interdisciplinary educational background and experience and curricula that encourage collaborative thinking and learningThe Governors who attended the twodaylong convocation ceremonies were unambiguous in their vision of higher education its impact and the responsibilities of young and upcoming leaders graduating from JGUVinai Kumar Saxena stressed how the DelhiNCR region has emerged as the intellectual capital of India with worldrenowned universities and higher educational institutes including JGU in the areaHari Babu Kambhampati said India today stands at a defining moment We are making rapid strides in science technology infrastructure health and education Yet our strength lies not only in material progress but also in our moral foundation of truth compassion and tolerance OP Jindal Global University has lived up to these values It has nurtured professionals who are equipped not just with knowledge and ambition but also with wisdom and empathyArif Mohammed Khan emphasised the deeprooted values of Indian culture particularly respect for parents and teachers the ideal of public service and the inherent divinity of every human beingHe said Public service is an act of worship It promotes inner growth and that is sufficient recompense for the selfless worker We need to understand why Indian tradition values public service and why our culture has stressed on itS Abdul Nazeer said Education is not merely a pathway to employment it is a foundation for nationbuilding The Convocation is not the end of your academic journey but the beginning of a new chapter one in which you are called to demonstrate your abilities and contribute meaningfully to society The education imparted here is deeply grounded in Indian values driven by a pursuit of academic excellence and a steadfast commitment to innovationShiv Pratap Shukla said that the convocation marks the end of formal education but the beginning of a students professional journeyToday I also congratulate the families of the graduating students for their effort and hard work This is a celebration of the power of education which has the capacity to transform lives he saidThe Guests of Honour who included diplomats senior legal personalities and public servants were all praises for the achievements of OP Jindal Global University and the rankings it has achieved in a short duration since it was set upJustice Gita Mittal Chairperson Broadcasting Content Complaints Council BCCC and Former Chief Justice High Court of Jammu and Kashmir said that global collaborations of JGU are truly impressiveTo broaden the understanding of its students JGU has significantly advanced its pedagogy It allows students to engage with leading academics and gain valuable insights JGU has become a forerunner in a system of education which is rooted locally and globally engagedR Venkataramani Attorney General for India said A university even in its modern form is a gurukul which sows the seeds of values and noble thoughts that guide us in countless ways Mrs Ravneet Kaur Chairperson Competition Commission of India added As scholars entrepreneurs lawyers policy thinkers journalists and public leaders each one of you carries the values of this university Our country aspires to become Viksit Bharat by the year 2047 where each of you will play a vital role in shaping the transformation of the Indian economyWilima Wadhwa Director ASER Centre Pratham Education Foundation addressing the new graduates said Three qualities will serve you well Take responsibility for the world you inherit Be adaptable to innovate and grow And give back not just because you should but because you canIna Krisnamurthi Ambassador Extraordinary and Plenipotentiary of Indonesia to India said OP Jindal Global University has become a beacon The achievements in global rankings interdisciplinary education and societal impact speak volumes about its vision To the Class of 2025 who have persevered through academic rigour and even a global pandemic I say you now carry not only degrees but the confidence and responsibility to shape the worldRasmus Abildgaard Kristensen Ambassador of Denmark to the Republic of India and NonResident Ambassador Designate to Nepal Sri Lanka Bhutan and the Maldives said I want to highlight the strong ties between Denmark and India built on shared values of democracy sustainability and innovation Weve worked closely on green technology and clean energy to address global challenges together Many talented Indians now study and work in Denmark enriching our society as we hope JGUs new agreement with the University of Copenhagen will create more opportunities for exchangeDabiru Sridhar Patnaik Registrar of the OP Jindal Global University proposed a vote of thanks Professor Dr Upasana Mahanta Dean Admissions and Outreach and Professor Karan Latayan Controller of Examinations introduced the Chief Guest and the Guest of Honour to those present at the convocation IANS https://dailyworld.in/market/five-governors-grace-convocation-2025-in-a-singular-honour-for-op-jindal-global-university-629365.html Fri, 01 Aug 2025 11:51:00 +0530 https://dailyworld.in/market/indian-stock-market-defies-us-tariffs-settles-slightly-lower-629262.html Mumbai July 31 IANS The Indian stock market settled slightly down after a highly volatile session on Thursday The domestic indices showed resilience averting a big crash post US tariff imposition on India driven by buying interest in FMCG stocksnbspSensex ended the session at 8118558 down 29628 points or 036 per cent The 30share index opened the trading with a significant fall at 8069550 against the last sessions closing of 8148186 The index showed some resiliency erasing early gains and returning in green in the afternoon hitting an intraday high at 8180327 amid buying in the consumer sector However it did not hold up the momentum in the closing hour due to a monthly expiry dayNifty closed at 2476835 down 8670 points or 035 per centnbspAccording to analysts Indias true strength lies in its economic resiliencenbspTata Steel Sun Pharma NTPC Reliance Asian Paints LampampT and Titan were the top losers from the Sensex basket While Hindustan Unilever Eternal ITC and Kotak Mahindra Bank settled in greennbspThe selling pressure gripped the broader market as well Nifty 100 fell 95 points or 038 per cent Nifty Mid cap 100 dragged 541 points or 093 per cent and Nifty Small cap 100 ended the session 190 points or 105 per cent lowerMeanwhile amid a bearish market Nifty FMCG soared 791 points or 144 per cent driven by buying interest especially in Hindustan Unilever after it reported decent earnings in Q1nbspOther sectoral indices settled in negative territory with Nifty Auto falling 89 points Nifty IT slipping 180 points and Nifty Bank closing 188 points downnbspThe domestic market attempted a strong recovery after experiencing a sharp decline but by the end of the day it closed with marginal losses on a monthly expiry daynbspInvestors gravitated toward domestically oriented nondiscretionary players especially FMCG which offered attractive valuations demand outlook and relative insulation from tariff risks said analysts https://dailyworld.in/market/indian-stock-market-defies-us-tariffs-settles-slightly-lower-629262.html Thu, 31 Jul 2025 17:59:00 +0530 https://dailyworld.in/market/indian-stock-market-rallies-amid-overall-buying-sensex-jumps-446-points-628641.html Mumbai July 29 The Indian stock market settled in green on Tuesday breaking the multiple sessions of selling momentum following overall buying amid subdued Q1 earnings Sensex closed at 8133795 up 44693 points or 055 per cent The 30share index started the session in red at 8062025 against the last sessions closing of 8089102 However the index soared following buying in heavyweights to touch an intraday high at 8142988Nifty settled at 2482110 up 14020 or 057 per centAccording to analysts amid lingering uncertainties over the ongoing USIndia trade negotiations the domestic equity market staged a modest recovery from intraday lows Almost all the sectors ended in green with metal pharma and realty leading the gains while IT financials and FMCG lagged due to weak quarterly resultsInvestor sentiment remains cautious ahead of key global events including policy decisions from the US Fed and the August 1 reciprocal tariff deadline they addedLampT Adani Ports Asian Paint Tata Steel Tata Motors Maruti Suzuki Bharati Airtel HDFC Bank Bajaj Finance and HCL Tech were settled in green Whereas TCS Axis Bank and Titan were among the top losersThe momentum was seen in the broader market as well Nifty Next 50 surged 610 points or 091 per cent Nifty 100 jumped 158 points Nifty Midcap 100 soared 465 points or 081 per cent and Nifty Small Cap 100 settled the session 18670 points or over a per cent higherThe majority of sectoral indices ended the session in positive territory Nifty Bank jumped 137 points Nifty Fin Services closed over 85 points and Nifty Auto rallied 195 pointsRupee traded weak slipping by 014 to 8680 against the dollar down 016 per cent as the dollar index climbed near the 99 mark overshadowing gains in domestic capital marketsWith the August 1 US trade deal deadline approaching and key US data ADP NonFarm Employment NonFarm Payrolls Unemployment Rate GDP and the Federal Reserves policy statement all lined up this week the forex market is expected to remain highly volatile The rupee is likely to trade in a broader range of 86458725 said Jateen Trivedi of LKP Securities IANS https://dailyworld.in/market/indian-stock-market-rallies-amid-overall-buying-sensex-jumps-446-points-628641.html Tue, 29 Jul 2025 16:49:00 +0530 https://dailyworld.in/market/rajasthan-tops-the-nation-in-major-mineral-block-auctions-627823.html Jaipur July 24 Rajasthan has achieved a historic milestone in the mining sector emerging as the top state in the country in the auction of major mineral blocks According to the auction provisions notified by the Central government in 2016 a total of 500 major mineral blocks have been allotted across India so far out of which 103 more than 20 per cent have been allotted in Rajasthan aloneRemarkably 64 of these were auctioned in the last 18 months during the current governments tenureThe state government is now actively working to bring these blocks into operation to boost investment revenue generation and employment opportunitiesIn line with the Chief Ministers vision the state has adopted a zerotolerance policy against illegal mining The Mines Department has implemented a transparent and effective mechanism for exploration block delineation and timely auctionsWithin three months of the new government assuming office 15 blocks were auctioned via the MSTC portal followed by a record 34 blocks in 202425As of July 2025 15 more blocks have already been auctioned with the process for another 12 currently underwayRajasthan has also recorded a sharp rise in royalty revenue collecting Rs 9228 crore in 20242025 24 per cent more than the previous year said officialsTo fasttrack the operationalisation of auctioned blocks the Mines Department has launched a coordination platform in July involving key departments such as Revenue Forest and Environment the Indian Bureau of Mines and the State Environment Impact Assessment Authority SEIAAA PostAuction Facilitation Cell has also been set up to streamline administrative approvals The department has set a target to operationalise 10 new mines by NovemberDecember this yearRajasthans auction model has also received national acclaim for its transparency and effectivenessIn January the Union Ministry of Mines awarded Rajasthan the first prize for its outstanding performance in mineral block auctions at the Third Conference of State Mining Ministers held in Konark OdishaTo date 77 mining leases and 26 composite licenses have been issued covering minerals like limestone 75 blocks iron ore 11 base metals 5 manganese 3 gold 2 siliceous earth 4 potash 2 and garnet 1With these developments Rajasthan is fast emerging as a national leader in responsible and highimpact mining governance IANS https://dailyworld.in/market/rajasthan-tops-the-nation-in-major-mineral-block-auctions-627823.html Thu, 24 Jul 2025 21:03:00 +0530 https://dailyworld.in/market/up-daily-wages-of-farm-workers-hiked-to-rs-252-lakhs-of-rural-workers-to-benefit-627831.html Lucknow July 24 In a landmark decision that will empower and uplift agricultural workers in Uttar Pradesh Yogi Adityanath on Thursday announced a revision in the minimum wage rates The hike in wages is set to bring a smile to the faces of lakhs of rural families as the labourers engaged in various types of agricultural activities across the state will now receive a minimum daily wage of Rs 252 or Rs 6552 per monthThe revised wage structure is set to benefit lakhs of workers involved not only in traditional farming but also in allied sectors like animal husbandry beekeeping and poultry farmingThe increase in dailymonthly remuneration will go a great deal in bridging the gaps between rising expenses and stagnant income It will bring greater financial security to the farmers and will enable them to have a dignified standard of livingSharing the information about the wage hike the Labour and Employment Department Principal Secretary MK Shanmuga Sundaram said that the revised minimum wage will apply to all types of farming activities across Uttar Pradesh This includes traditional farming mushroom cultivation and labour involved in transporting crops to markets It also covers allied sectors like dairy farming animal husbandry beekeeping poultry farming and all related support workThe wages can be paid in cash partly in cash in kind such as farm produce or through digital modes In no case the wages go less than the latest prescribed ratesNotably Chief Minister Yogi Adityanath has repeatedly emphasised protecting workers rights as a top priority for his government Earlier the state had registered crores of unorganised workers through the eShram portal and connected them to government welfare schemes By encouraging fair wages and digital payments the government has further underlined its commitment to prioritising farmers welfare IANS https://dailyworld.in/market/up-daily-wages-of-farm-workers-hiked-to-rs-252-lakhs-of-rural-workers-to-benefit-627831.html Thu, 24 Jul 2025 22:04:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-flat-it-stocks-under-pressure-627682.html Mumbai July 24 The Indian stock market opened flat on Thursday as IT companies experienced selling pressure amid mixed global cues At 928 am Sensex slipped 110 points or 013 per cent to 82615 and Nifty slipped 13 points or 005 per cent to 25206Sectorally Nifty IT underperformed with a loss of 117 per cent All other sectors show marginal dips to moderate gains Bank stocks showed moderate losses up to 020 per centMidcap and smallcap stocks saw selling pressure Nifty midcap 100 index was down 039 per cent at 59148 and Nifty smallcap 100 index was down 007 per cent at 18879In the Nifty pack Dr Reddys Laboratories led the gainers 307 per cent followed by Tata Motors 151 per cent Tata Consumer Products Eicher Motors JSW Steel and Tata Steel were other major gainers Trent Kotak Mahindra Bank and Bajaj Finance were among losers in early tradeMarket sentiment remains cautiously optimistic amid heightened volatility and mixed global cues Nifty 50s rebound highlights buyer strength at lower levels A sustained move above 25250 could potentially open the path toward the 25330 mark On the downside immediate support is placed at 25125 followed by 25000 said Hardik Matalia from Choice Equity Broking Private LimitedThe Bank Nifty outperformed the broader index rising 454 points and forming a bullish candlestick indicating renewed buying interest he addedBoth Asian and US indices posted strong overnight gains lending a positive backdrop for Indian markets as they openIn the US the Dow Jones Industrial Average advanced 114 per cent Nasdaq rose 061 per cent and the SampP 500 added 078 per centAccording to analysts the US striking trade deals with many countries is slowly removing concerns surrounding tariff wars Good corporate earnings in the US are providing the fundamental support to the marketIn Asian markets the Nikkei 225 continued a huge upswing for the second consecutive day 197 percent and Indonesias Jakarta Composite climbed 170 per cent Hong Kong Shanghai and Seoul were in the green zoneOn July 23 foreign institutional investors FIIs were net sellers for the fifth consecutive session offloading stocks worth Rs 4209 crore In contrast domestic institutional investors DIIs remained strong buyers for the 12th straight day They net purchased shares worth Rs 4358 crore IANS https://dailyworld.in/market/indian-stock-market-opens-flat-it-stocks-under-pressure-627682.html Thu, 24 Jul 2025 10:07:00 +0530 https://dailyworld.in/market/sensex-and-nifty-open-higher-auto-stocks-gain-1-pc-627479.html Mumbai July 23 The Indian stock market opened in the green on Wednesday as auto stocks led amid mixed global cues At 929 am Sensex was up 178 points or 023 per cent at 82381 and Nifty was up 64 points or 026 per cent at 25125Auto stocks were leading the market while media and realty were lagging behind Bank stocks showed moderate gains up to 009 per centMidcap and smallcap stocks saw selling pressure Nifty midcap 100 index was down 013 per cent at 59028 and Nifty smallcap 100 index was down 035 per cent at 18826Among the sectoral indices PSU bank financial services metal energy and private bank were in the green Realty media and FMCG were in the redIn the Nifty pack Tata Motors Maruti Suzuki Bajaj Auto MampM were the gainers Tata Consumer Products Trent Tech Mahindra and Titan were the losers in early tradeThe tug of war between the bulls and the bears continues Nifty is failing to cross and sustain above the 40HEMA which has now moved lower to 25104 Sustaining above the 40HEMA and closing above the high hourly high of 25182 can hint towards trend reversal as it would reinforce a higher top higher bottom formation said Vikram Kasat HeadAdvisory PL CapitalThe low of 24882 will be an important support level Kasat added Analysts say that a sustained move above 25150 could pave the way toward 25250In the Asian markets Nikkei 225 surged 325 per cent after US President Donald Trump announced a trade deal with Japan Shanghai and Hong Kong were in the green zone while Jakarta and Seoul were in the red zoneUS markets were largely flat with a mild positive bias investors pulled out of tech stocks Dow Jones was in the green and Nasdaq closed 039 per cent lowerOn July 22 foreign institutional investors FIIs were net sellers for the fourth consecutive session offloading equities worth Rs 3548 crore In contrast domestic institutional investors DIIs remained strong buyers for the 11th straight day purchasing equities worth Rs 5239 crore IANS https://dailyworld.in/market/sensex-and-nifty-open-higher-auto-stocks-gain-1-pc-627479.html Wed, 23 Jul 2025 10:07:00 +0530 https://dailyworld.in/market/indian-stock-market-surges-amid-value-buying-sensex-jumps-540-points-627568.html Mumbai July 23 The Indian stock market settled in positive territory on Wednesday following buying in banking financial services automobiles and healthcare sectors amid positive global cues surrounding the USJapan trade pact Sensex closed at 8272664 up 53983 or 066 per cent The 30share index opened with a decent gapup at 8245187 against last sessions closing value of 8218681 The index soared further to hit an intraday high of 8278643 following buying interest in heavyweights like Tata Motors Bharti Airtel and ICICI BankNifty 50 closed at 2521990 up 159 points or 063 per centThe day was characterised by robust performance across key sectors such as Banking Financial Services Automobiles Healthcare and Information Technology In contrast pockets of weakness persisted in Realty Media Consumer Goods and Metals reflecting a sectorally bifurcated landscape said Ashika Institutional Equities in its noteOn the global stage investor sentiment soared following optimistic developments surrounding the USJapan trade pact igniting expectations for further international agreements shortlyTata Motors Bharti Airtel Bajaj Finance Maruti Suzuki Bajaj FinServ HDFC Bank ICICI Bank Eternal Asian Paints and SBI were top gainers from the Sensexs stocks Hindustan Unilever Infosys and Ultratech Cements ended the session in redMeanwhile 37 stocks advanced and 13 shares declined from Nifty50Among sectoral indices Nifty Bank settled 454 points or 080 per cent higher Nifty Auto surged 203 points or 085 per cent and Nifty IT closed 9260 points or 025 per cent up Nifty FMCG declinedBroader indices followed the gaining momentum as well Nifty Net 50 surged 159 points Nifty 100 rallied 055 per cent or 142 points and Nifty Midcap 100 ended the session up 203 points or 034 per cent Nifty Smallcap 100 settled flatRupee traded flat in a narrow range near 8640 with marginal movement of 001 per cent against the dollar The dollar index also remained steady around 9740 as markets awaited further cuesDomestic capital markets gained 065 per cent while Fed Chair Powells recent speech kept the dollar rangebound Attention now shifts to next weeks US interest rate decision which will be a key directional trigger Rupee is expected to trade within a range of 85808670 said Jateen Trivedi of LKP Securities IANS https://dailyworld.in/market/indian-stock-market-surges-amid-value-buying-sensex-jumps-540-points-627568.html Wed, 23 Jul 2025 16:42:00 +0530 https://dailyworld.in/market/rbi-cancels-licence-of-karwar-urban-co-operative-bank-627619.html Mumbai July 23 The Reserve Bank of India RBI announced on Wednesday that it has cancelled the licence of The Karwar Urban Cooperative Bank Ltd in Karnataka as it does not have adequate capital and earning prospects Consequently the bank ceases to carry on banking business with effect from the close of business on July 23 2025The Karwar Urban Cooperative Bank Ltd Karwar is prohibited from conducting the business of banking which includes among other things acceptance of deposits and repayment of deposits with immediate effect the RBI order statedThe Registrar of Cooperative Societies Karnataka has also been requested to issue an order for winding up the bank and appoint a liquidator for the bank according to the RBI statementThe RBI said the licence has been cancelled as the Karwar Urban Cooperative Bank does not have adequate capital and earning prospects As such it does not comply with the provisions of the Banking Regulation ActThe continuance of the bank is prejudicial to the interests of its depositors the RBI saidThe bank with its present financial position would be unable to pay its present depositors in full and public interest would be adversely affected if the bank is allowed to carry on its banking business any further the RBI statement explainedOn liquidation every depositor would be entitled to receive the deposit insurance claim amount of hisher deposits up to a monetary ceiling of Rs 500000 from the Deposit Insurance and Credit Guarantee Corporation DICGC subject to the provisions of the DICGC Act 1961As per the data submitted by the bank 9290 per cent of the depositors are entitled to receive the full amount of their deposits from DICGC As of June 30 2025 DICGC has already paid Rs 3779 crore of the total insured deposits under the provisions of Section 18A of the DICGC Act 1961 based on the willingness received from the concerned depositors of the bank the RBI statement added IANS https://dailyworld.in/market/rbi-cancels-licence-of-karwar-urban-co-operative-bank-627619.html Wed, 23 Jul 2025 22:10:00 +0530 https://dailyworld.in/market/beml-bags-rs-293-crore-defence-order-for-high-mobility-vehicles-627627.html New Delhi July 23 Stateowned Bharat Earth Movers BEML Ltd announced on Wednesday that it has secured an order worth approximately Rs 29382 crore from the Ministry of Defence for the supply of high mobility vehicles HMV 6x6 We hereby inform that BEML Limited has bagged an order from the Ministry of Defence for the supply of HMV 6X6 with a contract value of Rs 29382 crores approximately the Bengalurubased PSU said in a stock exchange filingThe order comes close on the heels of the company winning an order for the supply of bulldozers last week from the Ministry of Defence valued at around Rs 18565 croreBEML had also announced on Monday that its board has approved a stock split in the ratio of 12 This means that every single share held by its eligible shareholders will be split into two without changing the overall value of their holdingIn an exchange filing BEML said its board of directors has considered and approved the split of one existing equity share of the company with a face value of Rs 10 each into two equity shares with a face value of Rs 5 per shareThe record date for determining the eligibility of the shareholders set to receive the payment is yet to be announced This is the first stock split being carried out by the public sector companyBEML posted a net profit of Rs 2875 crore for the quarter ended March 31 2025 marking a 12 per cent increase from Rs 257 crore in the same period last year Revenue rose 91 per cent yearonyear to Rs 16525 crore compared to Rs 1514 crore in Q4 FY24 supported by a robust performance across verticalsThe companys EBITDA stood at Rs 4226 crore up 139 per cent from Rs 371 crore a year ago while operating margins improved to 2557 per cent from 245 per cent in the corresponding quarter of the previous fiscal The healthy margin expansion reflects improved cost controls IANS https://dailyworld.in/market/beml-bags-rs-293-crore-defence-order-for-high-mobility-vehicles-627627.html Wed, 23 Jul 2025 23:05:00 +0530 https://dailyworld.in/market/npas-of-public-sector-banks-declined-from-91-pc-to-258-pc-union-minister-627398.html New Delhi July 22 Gross nonperforming assets NPAs of public sector banks have been steadily declining and have come down from 911 per cent of total loans in March 2021 to 258 per cent in March 2025 Minister of State in the Ministry of Finance Pankaj Chaudhary informed Parliament on Tuesday The total amount locked up in the gross NPAs of public sector banks has declined from Rs 616616 crore in March 2021 to Rs 283650 crore in March 2025 the minister said in a written reply to a question in the Rajya SabhaComprehensive measures have been taken by the Government and the Reserve Bank of India RBI to recover and reduce NPAs These include a change in credit culture that has come into effect with the Insolvency and Bankruptcy Code IBC fundamentally changing the creditorborrower relationship taking away control of the defaulting company from promotersowners and debarring wilful defaulters from the resolution process To make the process more stringent personal guarantors to corporate debtors have also been brought under the ambit of IBC the minister saidThe Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002 and the Recovery of Debt and Bankruptcy Act have been amended to make them more effective in recovering bad loansBesides pecuniary jurisdiction of Debt Recovery Tribunals DRTs was increased from Rs 10 lakhs to Rs 20 lakhs to enable the DRTs to focus on highvalue cases resulting in higher recovery for the banks and financial institutions he further statedPublic sector banks have also set up specialised stressed assets management verticals and branches for effective monitoring and focused followup of NPA accounts which facilitates quicker and improved resolution recoveries Deployment of Business correspondents and adoption of the feetonstreet model have also boosted the recovery trajectory of NPAs in banks the minister saidHe also pointed out that the prudential framework for the resolution of stressed assets was issued by RBI to provide a framework for early recognition reporting and timebound resolution of stressed assets with a builtin incentive to lenders for early adoption of a resolution plan which has helped in the recovery of bad loansAs per RBI guidelines banks have a boardapproved policy in place for the valuation of properties done by professionally qualified independent valuers RBI mandates banks to have a procedure for empanelment of professional valuers based on prescribed minimum qualifications and maintain a register of an approved list of valuers Valuation of fixed assets is done before sanction of loan to a borrower as part of the appraisal process and before sale to recover dues under the SARFAESI Act 2002 the minister explainedIn order to maintain transparency for properties valued at Rs 50 crore or above banks obtain a minimum of two independent valuation reports Upon enforcement of a security interest for an NPA account the bank takes possession of the property and obtains a valuation from an approved valuer before disposing of it RBI vide its guidelines on sale of stressed assets by banks has stated the use of eauction as a desirable mode in the sale of properties as it would attract a wide variety of borrowers and enable a better price discovery he added IANS https://dailyworld.in/market/npas-of-public-sector-banks-declined-from-91-pc-to-258-pc-union-minister-627398.html Wed, 23 Jul 2025 00:26:00 +0530 https://dailyworld.in/market/hyundai-india-faces-rs-25867-crore-gst-penalty-over-past-suv-sales-627430.html New Delhi July 22 Hyundai Motor India Limited HMIL has been slapped with a Rs 25867 crore penalty by the GST and Central Excise authorities for allegedly underpaying compensation cess on certain SUV models between September 2017 and March 2020 the carmaker confirmed on Tuesday The same amount Rs 25867 crore has also been confirmed as the cess shortfall taking the total tax demand to over Rs 517 crore Hyundai India said in its stock exchange filingThe company has received an order from Commissioner Appeals CGST Dept Tamil Nadu confirming GST compensation cess demand of Rs 25867 crore along with penalty of Rs 25867 crore on the allegation of short payment of GST compensation cess on certain SUV models for the period September 2017 March 2020 HMIL saidThe company stated that the Office of the Commissioner Appeals II of the CGST Department in Tamil Nadu issued the order on July 21However HMIL did not mention which SUV models were involved in the case the company said in its regulatory filingDespite the large tax demand Hyundai India clarified that there would be no impact on its financial operational or other business activities due to this orderThe company also confirmed that it is currently reviewing the order and plans to appeal the decisionThere is no impact on financial operational or other activities of the company due to this order The company is reviewing the order and will exercise its right to file an appeal it addedA Hyundai spokesperson said that the company believes recent amendments and clarifications issued by the Central Board of Indirect Taxes and Customs CBIC support the companys positionWe are in the process of reviewing the order and will seek a legal remedy through an appropriate forum the spokesperson addedAt present HMIL sells several SUV models in India including the Exter Venue Creta Alcazar Tucson Creta Electric and Ioniq 5The penalty order relates to past sales and is not expected to affect current or future vehicle offerings IANS https://dailyworld.in/market/hyundai-india-faces-rs-25867-crore-gst-penalty-over-past-suv-sales-627430.html Wed, 23 Jul 2025 00:56:00 +0530 https://dailyworld.in/market/intellectual-property-filings-jump-44-pc-to-cross-689-lakh-mark-union-minister-627436.html New Delhi July 22 Intellectual Property IP filings in the last five years have increased by 44 per cent from 477533 in 202021 to 689991 in 202425 Minister of State for Commerce amp Industry Jitin Prasada said in a written reply in the Lok Sabha on Tuesday He added that the highest growth was observed in Geographical Indications GI with a 380 per cent increase followed by Designs 266 per cent Patents 180 per cent Copyright 83 per cent Trademarks 28 per cent and Semiconductor Integrated Circuits LayoutDesigns SICLD with a 20 per cent riseThe government has undertaken several initiatives to enhance intellectual property activities and foster innovation and boost IP filing in India which include amendment of the IP laws and rules to streamline and simplify the processing of IP applications eliminate irregularities and bottlenecks and enhance the use of IT and digital technologies the minister saidTimelines have been fixed and streamlined for patents electronic submission of documents by patent agents has been made mandatory and the fee has been reduced by 10 per cent for online filing of applications and documentsThe frequency of filing working statements of patents has also been reduced from once a year to once in every three years to lessen the administrative burden and compliance costs on the applicants Besides the requirements and timelines for providing foreign filing details have been streamlined to simplify the patent application process further reducing processing requirements and costs the minister saidProcessing of Trade Mark applications has also been simplified and streamlined with 74 forms being replaced with 8 consolidated forms The process for the determination of wellknown marks has been laid outThe processing of design applications has been streamlined and international classification under the Locarno Agreement has been adoptedIn the case of copyrights compliance requirements for the registration of software have been reduced and the functioning of copyright societies has been made more accountable and transparent The procedure for Geographical Indications registration has also been simplified and significant fee concessions have been given to Startups MSMEs and Educational Institutions the minister further statedHe also highlighted that IP Oces have been digitised and made online to make the system more compact timebound transparent and easier to use by applicants as well as Examiners and Registrars Controllers A comprehensive EFiling System has been introduced for the online filing and submission of Patent Design and Trade Mark applications and documents Applicants no longer need to visit the IP office for filing and processing of their applications with more than 95 per cent of Patent and Trademark applications now filed online IANS https://dailyworld.in/market/intellectual-property-filings-jump-44-pc-to-cross-689-lakh-mark-union-minister-627436.html Wed, 23 Jul 2025 00:58:00 +0530 https://dailyworld.in/market/rajasthans-indraj-builds-thriving-nursery-business-with-rs-10-lakh-mudra-loan-627443.html Neem Ka Thana Rajasthan July 22 Pradhan Mantri Mudra Yojana PMMY continues to transform lives across the country empowering small traders and entrepreneurs with easy access to loans One such inspiring story comes from Neem Ka Thana in Rajasthan where a resident Indraj Saini has successfully established his own plant nursery business with the help of the schemeIndraj was sanctioned a Rs 10 lakh Mudra loan under the scheme without the need for any collateral Using the funds he set up a nursery business which is now thriving and helping him and his family achieve financial stabilitySpeaking about his experience Indraj told IANS I am very grateful for the Mudra loan I received With this support I was able to open my own nursery and grow my business Today I am living a better more secure life thanks to this opportunity He said that his business has grown drastically and he is earning huge amounts of money from the nursery He is able to give a good education to his childrenHis brother Shravan Saini who supports him in the business also expressed his gratitude This scheme has helped us a lot We didnt need to provide any guarantee On behalf of our family I thank Prime Minister Modi for making such a helpful scheme available to small businessmen like usThe Pradhan Mantri Mudra Yojana launched in 2015 aims to provide collateralfree loans to micro and small enterprises Under this significant initiative financial assistance has been extended to over 49 crore beneficiaries across India so far Disbursal of more than Rs 33 lakh crore in total has been achievedIndrajs success story is a testament to how the scheme is uplifting rural entrepreneurs and providing them with the means to build sustainable livelihoods From humble beginnings to now owning a growing business Indrajs journey highlights the transformative power of access to creditAs the Mudra Yojana continues to reach the grassroots stories like Indrajs serve as a reminder of the schemes critical role in promoting selfemployment strengthening rural economies and fulfilling the vision of an Aatmanirbhar Bharat IANS https://dailyworld.in/market/rajasthans-indraj-builds-thriving-nursery-business-with-rs-10-lakh-mudra-loan-627443.html Wed, 23 Jul 2025 01:07:00 +0530 https://dailyworld.in/market/sensex-nifty-open-higher-as-banking-stocks-continue-to-gain-627328.html Mumbai July 22 The Indian stock market opened in the green on Tuesday as heavyweight banking stocks continued to lead amid mixed global cues At 923 am Sensex was up 152 points or 019 per cent at 82359 and Nifty was up 38 points or 015 per cent at 25129Banking stocks were leading the market Nifty Bank was up 030 per cent higher than the main indicesBuying was also seen in the midcap and smallcap stocks Nifty midcap 100 index was up 45 points or 008 per cent at 59514 and Nifty smallcap 100 index was up 80 points or 042 per cent at 19038Among the sectoral indices PSU bank financial services metal media energy and private bank were in the green Pharma IT auto and FMCG were in the redIn the Sensex pack Eternal Trent Tata Steel ICICI Bank HDFC Bank TCS BEL HCLTech NTPC and SBI were top gainers Tata Motors Bajaj Finserv Sun Pharma MampM Bharti Airtel Maruti Suzuki LampT HUL and Asian Paints were top losersThe Nifty 50 after a strong rebound from its intraday low of 24900 surged nearly 225 points to close above the 25000 mark forming a bullish candlestick pattern The rebound from the 50day EMA indicates a potential trend reversal though confirmation through followup buying is awaited said Mandar Bhojane of Choice Equity Broking Private LimitedOn the upside a sustained move above 25150 could pave the way toward 25250 Key support levels remain at 25000 and 24900 which may offer favourable riskreward opportunities for long positions he addedMost Asian markets kept to a tight range Tokyo and Seoul were in the red while Shanghai Hong Kong and Jakarta were in the green US markets closed in the mixed zone Dow Jones was in the red and Nasdaq was in the greenOn July 21 foreign institutional investors FIIs were net sellers for the third consecutive session offloading equities worth Rs 1681 crore In contrast domestic institutional investors DIIs remained strong buyers for the 11th straight day purchasing equities worth Rs 3578 crore IANS https://dailyworld.in/market/sensex-nifty-open-higher-as-banking-stocks-continue-to-gain-627328.html Tue, 22 Jul 2025 23:32:00 +0530 https://dailyworld.in/market/indias-tyre-sector-poised-to-clock-8-pc-revenue-growth-in-fy26-report-626974.html Mumbai July 18 Indias tyre sector will see steady revenue growth of 78 per cent during the current financial year driven by replacement demand that accounts for half of annual sales even as offtake by original equipment manufacturers OEMs will likely be subdued and exports steady according to Crisil Ratings report released on Friday Rising premiumisation is expected to give a slight legup to realisations However escalating trade tensions and the risk of dumping by Chinese producers diverting inventories because of US tariffs could pose challenges the report statesOperating profitability is likely to remain steady at 13135 per cent supported by stable input costs and healthy capacity utilisation This along with strong accruals lean balance sheets and calibrated capital spending should help sustain the sectors stable credit outlook according to the reportThe report is based on an analysis of Indias top six tyre makers catering to all vehicle segments and accounting for 85 per cent of the sectors approximately Rs one lakh crore revenueDomestic demand remains the mainstay propelling around 75 per cent of total volume with exports making up the restCrisil Ratings senior director Anuj Sethi said Volume growth is seen at 56 per cent this fiscal mirroring last fiscal The replacement segment accounting for around 50 per cent of volume is set to grow 67 per cent on the back of a large vehicle base strong freight movement and rural recovery OEM volume 25 per cent will likely rise 34 per cent supported by steady twowheeler and tractor sales and modest growth in passenger vehicles and commercial vehicles Export volume 25 per cent is expected to grow 45 per cent supported by demand from Europe Africa and Latin AmericaThe export momentum however comes with risks The US accounting for around 17 per cent of Indias tyre export volume last fiscal and 45 per cent of overall industry volume has imposed reciprocal tariffs on several Indian goods potentially eroding price competitiveness And steep US tariffs limit Chinas access to that market raising the risk of excess supply being diverted into pricesensitive markets such as India the report further statesTo curb cheap imports India imposes antidumping and countervailing duties including a 1757 per cent levy on large truck and bus radials from China However a broader influx of lowcost tyres across other segments could pressure domestic realisations without timely safeguardsBesides stiff competition in the replacement market will keep operating profitability rangebound at 130135 per cent this fiscalWith nearly half of the raw material imported the sector is exposed to global prices and fluctuations in foreign exchange rates In fiscal 2025 natural rubber prices surged 810 per cent owing to supply disruptions and prices of crudelinked inputs such as synthetic rubber and carbon black rose 1012 per cent This led to margin erosion by around 300 basis points given the limited cost passthrough in the OEM and replacement segments IANS https://dailyworld.in/market/indias-tyre-sector-poised-to-clock-8-pc-revenue-growth-in-fy26-report-626974.html Fri, 18 Jul 2025 14:12:00 +0530 https://dailyworld.in/market/indian-stock-market-ends-lower-amid-selling-in-banking-it-sectors-627001.html Mumbai July 18 The Indian stock market ended in negative territory on Friday following selling in banking stocks and the broader market after subdued Q1 earnings in the finance and IT sectors Persistence FII outflows due to trade deal concerns have also played a role in dragging down marketsSensex ended the session at 8175773 down 50151 points or 061 per cent against last days closing of 8225924 The 30share index started the session in the negative territory at 8219362 and dragged down further to hit an intraday low at 8160813 amid selling pressure in banking heavyweights like Axis Bank and HDFC Bank and Kotak BankNifty settled at 2496840 down 14305 points or 057 per centA broadbased selloff was observed in the national market amidst a disappointing initial set of earnings from the finance and IT sectors said Vinod Nair Head of Research Geojit Investments LimitedElevated valuations in largecap stocks coupled with significant net short positions held by FIIs have contributed to a cautious sentiment among investors he addedFrom the Sensex basket Axis Bank BEL Kotak Bank HDFC Bank Bharti Airtel Titan Eternal Tech Mahindra and Asian Paints were the biggest losers Bajaj Finance Tata Steel ICICI Bank HCL settled in positive territoryMeanwhile 33 stocks declined and 17 advanced from the Nifty50All broader indices concluded the session in red amid selling pressure Nifty Next 50 fell 486 points Nifty Midcap 100 declined 414 points and Nifty Smallcap 100 dropped 157 pointsSectoral indices followed suit as well with Nifty Bank plunging nearly 1 per cent to 545 points Nifty FMCG falling 336 points and Nifty Fin Services was down 253 points At the same time Nifty IT settled flatRupee trades lower by 007 per cent as crude prices continue their upward rally in recent sessions adding pressure on the domestic currencyWeak sentiment in capital markets further weighed on the rupee while positive cues from the dollar index kept it under sustained pressure said expertsMoreover additional tariff threats are also casting a shadow on India over its trade relationship with RussiaParticipants are advised to avoid aggressive directional trades and adopt a hedged approach with a focus on stock selection based on earnings performance said analysts IANS https://dailyworld.in/market/indian-stock-market-ends-lower-amid-selling-in-banking-it-sectors-627001.html Fri, 18 Jul 2025 16:53:00 +0530 https://dailyworld.in/market/sensex-nifty-open-lower-as-midcap-and-smallcap-hold-markets-626902.html Mumbai July 18 The Indian equity indices opened lower on Friday as heavyweights like Axis Bank and Bharti Airtel were among the top losers in the BSE benchmark At 925 am Sensex was down 171 points or 021 per cent at 82087 and Nifty was down 35 points or 014 per cent at 25075In the Sensex pack MampM Tata Steel Power Grid LampT UltraTech Cement Infosys Tata Motors BEL NTPC TCS Trent and Maruti Suzuki were top gainers Axis Bank Bharti Airtel Kotak Mahindra Bank Tech Mahindra HDFC Bank Eternal ZomatoHUL Sun Pharma Bajaj Finance ICICI Bank Titan and Bajaj Finserv were top losersOn the sectoral front auto IT PSU bank metal realty media energy infra PSE and commodities were major gainers while financial services FMCG and private bank were in the redIn July so far India has been underperforming most markets with a dip of 16 per cent in Nifty A significant contributor to the decline is the selling by FIIs There is a clear pattern in FII activity this year so far said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedThey were sellers in the first three months For the next three months they turned buyers and in the seventh month the trends so far indicate further selling unless some positive news reverse the downtrend in the marketOn the institutional side foreign institutional investors FIIs remained net sellers for the second consecutive session on July 17 offloading equities worth Rs 3694 crore Meanwhile domestic institutional investors DIIs continued their buying spree for the ninth straight session purchasing equities worth Rs 2820 croreAkshay Chinchalkar Head of Research Axis Securities said Nifty ended down for the fifth time in seven days on Thursday but the market is still holding above the rising trendline drawn from the May 9 lowsTechnically speaking the daily candle completed a bearish engulfing pattern and thats not surprising given that wed mentioned that closing above 25245 and then 25340 was essential for bulls to make a comeback So 25000 remains the support level to watch while 25340 is vital resistance Asian cues are mostly bullish this morning along with US index futures he mentionedMajor Asian markets were trading in the green Shanghai Hong Kong Bangkok and Jakarta were major gainers while Tokyo and Seoul were trading lower The US market closed in the green on Thursday due to positive investor sentiments IANS https://dailyworld.in/market/sensex-nifty-open-lower-as-midcap-and-smallcap-hold-markets-626902.html Fri, 18 Jul 2025 09:56:00 +0530 https://dailyworld.in/market/indias-agri-tech-sector-to-reach-600-million-dollar-by-cy29-report-626739.html New Delhi July 17 Indias agritech sector is on track to reach 600 million dollars in investments by calendar year 2029 a new report said on Thursday The data compiled by 1Lattice shows that the sector is expected to grow at a steady annual rate of around 6 per cent reflecting renewed investor interest and longterm confidence in agricultural innovationAfter a brief slowdown in funding post2022 the sector is showing signs of strong recoveryAgritech has evolved significantly in recent years with a major spike in entrepreneurship during the pandemicIn 2020 alone 572 new agritech startups were launched as the agriculture sector began turning to digitalfirst solutions to tackle disruptionsFunding rounds increased from just 53 in 2019 to a peak of 101 in 2022 While the number of deals has now stabilised at around 60 to 70 per year the focus has shiftedInvestors are now looking for business models that are not only innovative but also scalable and ready for execution rather than backing earlystage experimentsSeveral factors are fueling this growth Impact investors who focus on sustainability are becoming more activeDigital tools like Agristack and the electronic National Agriculture Market eNAM are improving transparency and efficiency across the supply chainThere is also growing demand for Indian crops both at home and overseas Technology is playing a big role in this transformationFrom AIpowered data tools to smart irrigation systems innovation is helping farmers use resources better increase productivity and deal with climaterelated challengesThe study suggests that as capital continues to flow into the sector and digital infrastructure strengthens agritech will become a key part of Indias journey toward more sustainable and modern agricultureMeanwhile earlier this year Union Minister of State Independent Charge for Science and Technology Jitendra Singh said that the startups in agriculture are intelligently blending traditional organic farming practices with technology to drive livelihood opportunities in rural areasAddressing the Natural and Organic Farmers Summit 2025 in April this year the Minister lauded the efforts of grassroots innovators and farmerentrepreneurs who are embracing science to scale up agriculture enhance productivity and ensure sustainable incomes IANS https://dailyworld.in/market/indias-agri-tech-sector-to-reach-600-million-dollar-by-cy29-report-626739.html Thu, 17 Jul 2025 13:44:00 +0530 https://dailyworld.in/market/india-buys-oil-from-40-nations-not-worried-by-us-rider-on-russian-oil-hardeep-puri-626779.html New Delhi July 17 IANS Union Minister of Petroleum and Natural Gas Hardeep Singh Puri on Thursday said India has diversified its sources for buying oil in the global market due to which the government is not unduly worried over any US crackdown on Russias oil exportsnbspSpeaking at the Urja Varta 2025 the minister said India currently buys oil from 40 nations as compared to 27 countries in 2007 and the global market is wellsuppliednbspThere is a lot of oil available in the market Iran and Venezuela are currently under sanctions But are they going to be under sanctions forever Many countries including Brazil Canada and others are ramping up output I am not unduly worried about supplies as of now We have diversified our sources Puri saidThe ministers statement came against the backdrop of US President Donald Trump announcing that secondary sanctions would be imposed on countries buying Russian oilnbspOn July 15 Trump had threatened to impose serious trade restrictions on Russia unless a peace deal with Ukraine is reached within 50 days Trump said US tariffs on Russian exports would be increased to 100 per cent while also threatening to impose secondary sanctions on countries such as India and China that buy oil from RussianbspOn Trumps threats Puri said I have heard these threats Some statements are made to ensure two disputants settle an issuePuri further stated that Indias oil purchases from Moscow had played an important role in stabilising prices in the global marketnbspHe said crude oil prices could have skyrocketed to 130 per barrel in the absence of IndiaRussia oil trade when the Ukraine war began in 2022nbspPrior to the RussiaUkraine war India used to buy a mere 02 per cent of its crude imports from Moscow This today stands close to 40 per centThe minister said that Russian crude was always under a price cap of 60 per barrel but never under sanctions India continues to stay firm on its stance of not buying crude oil from a country which is under sanctions said PurinbspRussia is one of the largest crude producers with over nine million barrelsday Imagine the chaos if this oil amounting to about 10 per cent of the global oil supply of around 97 million vanished from the market It would have forced the world to reduce its consumption and since the consumers would be chasing reduced supplies the prices wouldve spiralled to over 120130 Puri said earlier this month https://dailyworld.in/market/india-buys-oil-from-40-nations-not-worried-by-us-rider-on-russian-oil-hardeep-puri-626779.html Thu, 17 Jul 2025 16:19:00 +0530 https://dailyworld.in/market/jtl-industries-q1-net-profit-falls-nearly-47-pc-revenue-rises-55-pc-626627.html Mumbai July 16 Chandigarhbased JTL Industries Limited on Wednesday announced that the companys consolidated net profit fell by 468 per cent yearonyear YoY to Rs 163 crore in the first quarter Q1 of FY26 compared to Rs 307 crore in the same quarter previous year Q1 FY25 Despite the fall in profit the companys revenue from operations increased by 55 per cent to Rs 544 crore in Q1 up from Rs 516 crore in the yearago period according to its stock exchange filingJTLs operating performance also weakened during the quarter Its EBITDA dropped by 415 per cent to Rs 234 crore from Rs 40 crore the previous yearThe EBITDA margin slipped to 43 per cent down from 78 per cent reflecting pressure on marginsThe shares closed Wednesdays intraday trading session at Rs 8116 on the National Stock Exchange NSE down by Rs 196 or 236 per centIn the last five days the stock has delivered an almost flat to negative return of Rs 043 or 053 per centIn the past month the share price of JTL Industries surged by Rs 166 or 209 per centOver the last six months the shares have declined by Rs 2372 or 2262 per cent On a yeartodate basis the stock is down by Rs 1409 or 1479 per centIn the past year the shares have fallen by Rs 3227 or 2845 per centJTL Industries formerly known as JTL Infra Limited is an Indian manufacturer and exporter of steel tubes and pipesIt specialises in electric resistance welded ERW black pipes and hollow sections catering to sectors like agriculture water distribution energy construction and general engineeringFounded in 1991 the company has over three decades of experience in the industry It operates four manufacturing plants across Punjab Chhattisgarh and Maharashtra and exports to countries like Germany Belgium Greece and the West IndiesThe companys distribution network spans across India with branch offices in Delhi Mumbai and ChandigarhThe company has steadily evolved over the years expanding from basic ERW black pipes to valueadded products such as galvanised steel pipes and solar module mounting structuresKey leadership at JTL includes Founder and Promoter Vijay Kumar Singla CFO Atul Garg and CEO Madan Singla IANS https://dailyworld.in/market/jtl-industries-q1-net-profit-falls-nearly-47-pc-revenue-rises-55-pc-626627.html Wed, 16 Jul 2025 22:10:00 +0530 https://dailyworld.in/market/indias-q1-passenger-vehicle-sales-surge-past-one-million-mark-for-2nd-time-in-row-626293.html New Delhi July 15 Indias passenger vehicle sales crossed the one million mark in the AprilJune quarter Q1 of 202526 with exports registering a doubledigit growth according to data released by the Society of Indian Automobile Manufacturers SIAM on Tuesday Passenger Vehicles comprising utility vehicles and cars saw their highest ever exports in Q1 of 202526 of 204 Lakh units registering a growth of 132 per cent over Q1 of 202425 according to the SIAM statementExport growth in this segment was driven by stable demand across most markets with strong performance in the Middle East and Latin America Revival in neighbouring markets like Sri Lanka and Nepal rising demand from Japan and growing exports underFTAs such as Australia also contributed to the overall uptick the statement saidExports of twowheelers shot up to 114 million units with a robust growth of 232 per cent in Q1 of 202526 over Q1 of last year This growth was driven by a revival in neighbouring markets and continued growth momentum across key export markets according to SIAM dataAs many as 096 Lakh units of threewheelers were also exported with a growth of 344 per cent in Q1 of 202526 as compared to last years Q1Exports of Commercial Vehicles also posted a strong growth of 234 per cent in Q1 with around 02 lakh units being shipped out to foreign marketsThis is the second time in a row that passenger vehicle sales in Q1 have surpassed the one million mark However due to lower sales in the later part of the quarter sales in Q1 were lower by 14 per cent at 101 million units as compared to Q1 of 202425The twowheeler segment posted sales of 467 million units in Q1 of 202526 resulting in a degrowth of 62 per cent as compared to the same period of last year as there was some inventory correction in the IndustryHowever while the wholesale sales declined twowheeler retail registration increased by 5 per cent in Q1 driven by the marriage season and positive demand sentimentsThe share of the scooter segment in twowheelers increased in Q1 FY202526 over last year by 215 per centThe threewheeler segment posted its highest ever Q1 sales of 165 lakh units in 202526 especially driven by the passenger carrier subsegmentThe sustained performance of the threewheeler segment is driven by factors including increased economic activity supporting transportation creating urban demand SIAM saidThe retail registration of the cargo segment continues to grow well reflecting the increased demand for intracity lowload cargo Easier financing options also helped in supporting this momentum the statement explainedThe commercial vehicles segment posted a marginal degrowth of 06 per cent compared to Q1 of last year with sales of 223 Lakh unitsHowever within the commercial vehicle segment passenger vehicles posted growth indicating continued momentum in public transportationLooking ahead to Q2 the overall industry outlook remains cautiously optimistic While the challenges from Q1 may continue to linger in the near term several positive macroeconomic and seasonal indicators could support a gradual recovery SIAM saidThe upcoming festive season typically serves as a demand driver particularly for passenger vehicles and twowheelers and could help uplift consumer sentimentsAn abovenormal monsoon is likely to aid rural income recovery which is especially important for twowheelers and entrylevel vehicles that rely heavily on rural demandThe RBIs cumulative repo rate cuts of 100 basis points over the past six months are expected to gradually ease borrowing costs which could positively impact the auto sector by improving affordability and boosting consumer sentiment in the coming months the statement saidHowever the supply side challenges especially the recent export licensing requirement from China on rare earth magnets have been a concern for vehicle manufacturers the statement added IANS https://dailyworld.in/market/indias-q1-passenger-vehicle-sales-surge-past-one-million-mark-for-2nd-time-in-row-626293.html Tue, 15 Jul 2025 14:52:00 +0530 https://dailyworld.in/market/gccs-urged-to-leverage-govt-schemes-for-hiring-talent-626135.html New Delhi July 14 Vandana Gurnani Secretary Ministry of Labour and Employment exhorted Global Capability Centres GCCs on Monday to leverage existing government schemes for hiring talent in the country She urged the GCCs to engage with government initiatives such as the Employment Linked Incentive Scheme which holds substantial potential for job creation and the National Career Services Portal a comprehensive platform with partnerships across major firms offering job matching services to find talentGurnani was speaking at the GCC Business Summit organised by the Confederation of Indian Industry CII hereDiscussing ongoing labour reforms she noted the implementation of the Labour Codes and highlighted ongoing collaboration with state governments to drive these reforms She also outlined the expansion of career lounges in universities which can serve as talent pipelines for the GCC sector and noted Indias international agreements for workforce mobility that can be effectively leveraged for GCC operationsOutlining Indias core competitive advantages that have enabled GCCs phenomenal growth trajectory Anuradha Thakur Secretary Department of Economic Affairs Ministry of Finance pointed to strong physical and digital infrastructure strategic interventions through the Digital India initiative streamlined approval processes large talent strength and a robust regulatory environment built over the past decadeUnderscoring Indias talent strengths Thakur pointed to the countrys large annual output of STEM graduates a diverse workforce with significant female participation and a young median age She emphasised that these demographic factors provide fertile ground for continued GCC growth and expansionSanjay Bahadur Member Income Tax Central Board of Direct Taxes recognised the sectors remarkable growth and its rising contribution to Indias GDP and employment He highlighted the dramatic evolution of GCCs from basic outsourcing units to complex crossborder operations engaging in highvalue functionsHe further noted that modern GCCs are involved in sophisticated design innovation backend services and engineering inputs creating complex value chains that pose unique challenges in transfer pricingThe Central Government has begun formulating a comprehensive national framework for GCCs to enhance their growth and expand their base said K K Singh Joint Secretary Ministry of Electronics and Information TechnologySingh observed that the majority of GCCs are concentrated in six major locations with significant presence in Bengaluru Hyderabad DelhiNCR Mumbai Pune and Chennai while only a small share operates in emerging cities He acknowledged the challenges of expanding into tier2 cities and underlined the governments intent to benchmark and replicate best practices from successful tier1 hubsGunjan Samtani Chair of the CII Taskforce on GCCs and cochairman of Goldman Sachs in India copresented a framework for the National GCC Policy that would serve as a roadmap to expanding Indias GCCs to around 5000 units in the coming years IANS https://dailyworld.in/market/gccs-urged-to-leverage-govt-schemes-for-hiring-talent-626135.html Mon, 14 Jul 2025 19:09:00 +0530 https://dailyworld.in/market/union-energy-minister-to-launch-aditya-scheme-in-panipat-for-enhanced-energy-efficiency-626154.html Chandigarh July 14 Union Energy Minister Manohar Lal is set to greenlight the Atal Distribution System Improvement Yojana Aditya scheme of the Electricity Department in Haryanas Panipat on July 15 The oneofakind Aditya scheme is being seen as a transformative step to plug leakages in energy distribution and enhance energy efficiency particularly related to the powerguzzling sectors like heavy industries and Micro Small and Medium Enterprises MSMEsAfter a successful rollout it is expected to save a large amount of energy leakages and benefit those industrial units whose electricity consumption has been high for the last several yearsAdditional Deputy Commissioner Dr Pankaj Yadav told newsmen that the Union Energy Minister Manohar Lal Khattar will launch the Aditya scheme from Panipat tomorrow to enhance energy output in industrial sectorsIn the industrial units of MSMEs where machinery has been running for many years there is a lot of wastage of electricity Aditya Scheme will be beneficial as it will reduce the consumption of electricity he saidHe said that the scheme will be launched panIndia from Panipat on July 15He said that the event will see the gathering of Cabinet Ministers including Anil Vij Krishnalal Pawar Mahipal Dhanda and top government officialsMany noted industrialists associated with MSME have also been extended an invitation and given the direct impact on their businesses the event is expected to see their bigger participationNotably the Atal Distribution System Improvement Yojana ADITYA scheme is a continuation of the erstwhile UDAY scheme aimed at distribution reform in the power sectorThis scheme will provide central funding as an infrastructure support reform package to state utilities and state utilities will be able to participate in the scheme by targeting mandatory reduction of electricity losses to less than 12 per cent negating tariff gaps and having compulsory prepaid smart metering across the power distribution chainStates with more than 18 per cent ATampC losses can opt for an infrastructure support reform package that entails choosing an option between running discoms in the publicprivatepartnership PPP model IANS https://dailyworld.in/market/union-energy-minister-to-launch-aditya-scheme-in-panipat-for-enhanced-energy-efficiency-626154.html Mon, 14 Jul 2025 20:02:00 +0530 https://dailyworld.in/market/gold-silver-prices-surge-this-week-silver-crosses-rs-110-lakh-per-kg-625935.html New Delhi July 13 IANS Both gold and silver prices saw a sharp rise this week with gold gaining over Rs 400 and silver surging by more than Rs 2700 per kilogramnbspAccording to the India Bullion and Jewellers Association IBJA the price of 24carat gold climbed to Rs 97511 per 10 grams up from Rs 97021 a week ago a gain of Rs 490nbspIn the previous week gold had already seen an increase of Rs 1237 per 10 grams The price of 22carat gold rose to Rs 89320 per 10 grams up from Rs 88871nbspMeanwhile 18carat gold went up from Rs 72766 to Rs 73133 per 10 grams during the same periodSilver also saw a steep rise gaining Rs 2710 to reach Rs 110290 per kilogram up from Rs 107580 last weeknbspThis marks the first time silver has closed above Rs 110 lakh per kg on a weekly basis with prices hovering near record highsnbspThe recent surge in precious metals is being attributed to global uncertainty The announcement by US President Donald Trump regarding tariffs on key trade partners like Canada Europe and other countries has contributed to the rising tension in global marketsGold and silver are traditionally seen as safehaven assets during times of geopolitical and economic instability When demand rises amid limited supply prices tend to increasenbspSince January 1 this year the price of 24carat gold has jumped by Rs 21349 or 2803 per cent rising from Rs 76162 to Rs 97511 per 10 gramsnbspSimilarly silver has gone up by Rs 24273 or 2821 per cent from Rs 86017 to Rs 110290 per kilogramnbspThis is now the highest price silver has ever reached The previous record was Rs 109550 per kg which was set on June 18 this yearnbspThe rise in both gold and silver is being seen as a response to growing global uncertainty https://dailyworld.in/market/gold-silver-prices-surge-this-week-silver-crosses-rs-110-lakh-per-kg-625935.html Sun, 13 Jul 2025 19:12:00 +0530 https://dailyworld.in/market/market-outlook-quarterly-earnings-inflation-data-global-cues-to-drive-stock-market-this-week-625886.html Mumbai July 13 The upcoming trading week is expected to be crucial for Indian stock markets as several key events are lined up including quarterly earnings retail inflation figures developments on the USIndia trade deal and global economic indicators Major companies such as HCL Tech Nelco Tata Technologies Tejas Networks AWL Agri Business HDFC Life Bank of Maharashtra ITC Hotels Axis Bank HDFC AMC Indian Hotels Polycab Wipro and JSW Steel are scheduled to announce their Q1 results during the weekOn the macroeconomic front inflation data for June both wholesale and retail will be released on July 14 which could influence investor moodAccording to Bajaj Broking Research globally US inflation data is expected on July 15 followed by industrial production numbers on July 16 and jobless claims on July 17These indicators will also play a role in shaping global risk sentimentSudip Shah Head of Technical and Derivatives Research at SBI Securities said the Indian market is currently underperforming compared to global peers many of which are witnessing strong ralliesThis he added reflects a phase of consolidation and cautious trading in domestic equitiesHe also pointed out that two major factors could drive market direction in the coming sessions fresh updates on tariffs and the Q1 earnings seasonThe previous week was marked by volatility with the Nifty slipping 31115 points or 122 per cent to close at 2514985 and the Sensex losing 93242 points or 112 per cent to settle at 8250047IT stocks led the decline dragging the Nifty IT index down by 376 per cent The Nifty Auto index fell 203 per cent while Nifty Infra and Nifty Energy declined 188 per cent and 113 per cent respectivelyHowever FMCG stocks saw buying interest with the Nifty FMCG index ending 215 per cent higher IANS https://dailyworld.in/market/market-outlook-quarterly-earnings-inflation-data-global-cues-to-drive-stock-market-this-week-625886.html Sun, 13 Jul 2025 11:57:00 +0530 https://dailyworld.in/market/tcs-bharti-airtel-see-big-value-erosion-this-week-625898.html Mumbai July 13 Tata Consultancy Services TCS and Bharti Airtel witnessed a sharp fall in their market value this week dragging down overall investor sentiment The benchmark Sensex dropped by 93242 points or 111 per cent during the week leading to heavy losses for several top companiesTCS saw the biggest decline in valuation losing Rs 5627935 crore and ending the week with a market cap of Rs 1181 lakh croreThe companys shares fell nearly 35 per cent on Friday after its June quarter results failed to meet investor expectationsBharti Airtel was the secondbiggest loser with its market valuation falling by Rs 5448362 crore to Rs 1095 lakh croreReliance Industries Infosys ICICI Bank LIC HDFC Bank and State Bank of India also ended the week with reduced valuationsIn total eight of the top 10 most valued firms lost a combined Rs 207 lakh crore in market capitalisationOn the brighter side only two companies Hindustan Unilever Limited HUL and Bajaj Finance managed to end the week with gainsHUL added Rs 4236313 crore to its value driven by a nearly 5 per cent jump in share price on Friday after the company named Priya Nair as its first woman CEO and MDBajaj Finances valuation also rose by Rs 503357 crore Despite the losses the most valued firms in India include HDFC Bank TCS Bharti Airtel ICICI Bank State Bank of India Infosys LIC Bajaj Finance and Hindustan UnileverMeanwhile the week was marked by volatility with the Nifty slipping 31115 points or 122 per cent to close at 2514985IT stocks led the decline dragging the Nifty IT index down by 376 per cent The Nifty Auto index fell 203 per cent while Nifty Infra and Nifty Energy declined 188 per cent and 113 per cent respectivelyHowever FMCG stocks saw buying interest with the Nifty FMCG index ending 215 per cent higher IANS https://dailyworld.in/market/tcs-bharti-airtel-see-big-value-erosion-this-week-625898.html Sun, 13 Jul 2025 13:26:00 +0530 https://dailyworld.in/market/we-lead-with-tech-driven-consumer-oriented-services-says-healthians-ceo-as-company-turns-ebitda-positive-625706.html Mumbai July 11 We continue to lead the consumer and corporate wellness space with techdriven consumeroriented services Nishant Singhal Board Member and CEO at Healthians said on Friday after the company announced it had achieved full earnings before interest taxes depreciation and amortisation EBITDA and cash profitability in the quarter ending June 2025 Q1 FY26 The Gurgaonbased diagnostic company said it has become the first digitalfirst healthcare firm in Indias healthtech space to reach this milestone a significant moment for the growing Diagnostics at Home categoryThis achievement is particularly noteworthy given the doubts that have surrounded the financial viability of digitalfirst health servicesFor years experts have questioned whether such platforms could achieve sustained profitability with many predicting they would eventually run out of cash and be forced to scale down or shut shopHealthians has now proved those concerns wrong The company said over one million customers used its home diagnostics services between April and June 2025 supported by its CAPaccredited and NABLcertified labs and a strong technologyled modelAccording to Singhal Healthians is now growing faster than any other player in the segment both on a yearonyear YoY and quarteronquarter QoQ basisHe said the company aims to remain EBITDA positive for the entire FY26 The swift move to profitability in Q1 FY26 indicates a sharp improvement in unit economics and operational efficiency over the last three to four monthsWe have demonstrated that right unit economics at scale and techdriven integrated business processes can deliver profitability for digitalfirst healthcare service providers said SinghalHe added that Healthians strong pricing power and growing volumes will support continued growth in the years ahead IANS https://dailyworld.in/market/we-lead-with-tech-driven-consumer-oriented-services-says-healthians-ceo-as-company-turns-ebitda-positive-625706.html Sat, 12 Jul 2025 00:02:00 +0530 https://dailyworld.in/market/fm-sitharaman-kickstarts-more-than-rs-1-000-crore-projects-in-meghalaya-625676.html Shillong July 11 IANS Meghalaya witnessed a landmark moment in its development journey on Friday as Union Finance Minister Nirmala Sitharaman laid foundation stones and inaugurated several transformative projects worth Rs 108781 crore in the statenbspSpeaking during an Integrated Public Programme at the LARITI International Centre for Performing Arts and Culture here FM Sitharaman lauded Meghalayas steady growth and bold vision under the leadership of the CM Conrad K SangmaInforming that a total of Rs 5400 crore has been allocated to Meghalaya under Special Assistance to State for Capital Investment SASCI she said I am happy that the government has used the amount effectively for capital assets I will put on record my appreciation of Meghalayas efforts the funds are being fully utilised Some states are not able to utilise their share in full here we have Meghalaya using its quota entirelynbspReflecting on the Central Governments continuous support FM Sitharaman stated that the Government looks at the Northeast as a region to empower act strengthen and transformShe highlighted the construction of over 540 km of roads in Meghalaya a fivefold increase in optical fibre coverage since 2014nbspShe lauded the state for its performance in schemes like Jal Jeevan Mission PM Awas Yojana PM Jeevan Jyoti Bima Yojana Swachh Bharat Mission and othersnbspCM Sangma in his address expressed his gratitude to the Union Government for its continued support to MeghalayanbspHe said The Union Finance Ministers visit is important not only for official programmes but also to connect with the citizens of the state to understand firsthand the problems we face and to provide necessary guidance and solutions for the way forwardAsserting the governments model of purposebased governance targetbased governance and resultbased governance CM Sangma reiterated Meghalayas goal of becoming one among Indias top10 states by 2032nbspHe informed the Union Finance Minister that Meghalaya has successfully leveraged a large number of schemes and projects through Externally Aided Projects EAPs which serve as a major source of funding for smaller statesnbspThese initiatives have enabled the state to implement a wide array of developmental projects with total funding nearing Rs 12000 crore contributing significantly to the states overall growth https://dailyworld.in/market/fm-sitharaman-kickstarts-more-than-rs-1-000-crore-projects-in-meghalaya-625676.html Fri, 11 Jul 2025 19:08:00 +0530 https://dailyworld.in/market/indias-gold-reserves-rise-by-342-million-forex-stands-at-699736-billion-rbi-625680.html New Delhi July 11 The countrys gold reserves grew by 342 million during the week reaching 84846 billion according to the latest weekly data released by Reserve Bank of India RBI on Friday Along with gold Special Drawing Rights SDRs with the International Monetary Fund IMF increased by 39 million to 18868 billionAdditionally Indias reserve position with the IMF also rose by 107 million to 4735 billion the data showedThis uptick in reserves comes at a time when both domestic and global bullion markets are witnessing a sharp rallyIndias forex reserves stood at 699736 billion in the week ended July 4 the RBI said In the previous reporting week the overall reserves had jumped by 4849 billion to 702784 billion The reserves had touched an alltime high of 704885 billion in endSeptember 2024Expressed in dollar terms the foreign currency assets include the effect of appreciation or depreciation of nonUS units like the euro pound and yen held in the foreign exchange reservesOn Friday gold and silver prices in India rose significantly with silver prices hitting a new alltime highAccording to the India Bullion and Jewellers Association IBJA the price of 24carat gold climbed Rs 465 to Rs 97511 per 10 grams up from Rs 97046 a day earlierThe 22carat gold rose to Rs 89320 per 10 grams and 18carat gold reached Rs 73133 per 10 gramsMeanwhile silver prices surged Rs 2356 in the last 24 hours setting a new record of Rs 110290 per kilogram breaking the previous alltime high of Rs 109550 recorded on June 18Globally precious metals were also trading higher Gold rose 101 per cent to 3358 per ounce while silver jumped 292 per cent to 3840 per ounceAnalysts point to global economic uncertainty and fresh concerns over trade tariffs as the main reasons for the shift toward safehaven assets like gold IANS https://dailyworld.in/market/indias-gold-reserves-rise-by-342-million-forex-stands-at-699736-billion-rbi-625680.html Fri, 11 Jul 2025 20:18:00 +0530 https://dailyworld.in/market/rbi-imposes-monetary-penalty-on-hdfc-bank-shriram-finance-625684.html Mumbai July 11 The Reserve Bank of India RBI said on Friday that it has imposed a monetary penalty of Rs 488 lakh on HDFC Bank and Rs 270 lakh on Shriram Finance after finding noncompliance with certain directions of the Central Bank The penalty on HDFC Bank was levied under the provisions of Section 113 of the Foreign Exchange Management Act FEMA after the private sector lender had ignored the Master Direction Foreign Investment in India while granting a term loan to its client the Reserve Bank said in a statementThe RBI had issued a Show Cause Notice to the bank for the same and in response to which HDFC Bank had submitted a written reply and had also made oral submissions thereon the statement readAfter considering the facts of the case and the response given by HDFC Bank in the matter the RB concluded to impose a penaltySimilarly the Reserve Bank laid a financial penalty on Shriram Finance Limited a nonbanking finance corporation NBFC for noncompliance with certain provisions of digital lendingThe Reserve Bank of India RBI has imposed a monetary penalty of Rs 270 lakh on Shriram Finance Limited for noncompliance with certain provisions of the Reserve Bank of India Digital Lending Directions 2025 issued by RBI the central bank statedThe RBI had conducted a statutory inspection of the company concerning Shriram Finances financial position as on March 31 2024Based on supervisory findings of noncompliance with RBI directions and related correspondence in that regard a notice was issued to the company advising it to show cause as to why a penalty should not be imposed on it for its failure to comply with the said directions the bank saidThe company routed the loan repayments through the account of a third party instead of the borrowers directly crediting the loan repayments to the companys account the RBI found in its inspectionThe Reserve Bank said it has imposed a penalty on Shriram Finance by issuing an order on July 08 2025 IANS https://dailyworld.in/market/rbi-imposes-monetary-penalty-on-hdfc-bank-shriram-finance-625684.html Fri, 11 Jul 2025 20:23:00 +0530 https://dailyworld.in/market/air-cargo-industry-shows-resilience-amid-global-challenges-sanjiv-edward-625695.html New Delhi July 11 The air cargo industry has consistently shown its strength and adaptability during challenging times said Sanjiv Edward President of Air Cargo Forum India ACFI on Friday Speaking to IANS on the sidelines of ACFI Annual Conclave 2025 he highlighted how the Indian air cargo sector has consistently proved its resilience especially during global disruptionsDuring the Covid crisis when the country urgently needed lifesaving supplies the air cargo industry stepped into the gap delivering oxygen cylinders crucial medicines and more Edward told IANSI am confident about this industrys ability to turn problems into opportunities he mentionedSpeaking on the sidelines of the conclave themed Air Cargo Leadership in a Changing World he said that the conclave brings together key players from across the cargo supply chain including airport cargo handlers airlines freight forwarders express operators and customs brokers to deliberate on future strategies and policiesEdward said the main aim of the conclave is to align the industrys efforts with the governments vision of achieving 10 million metric tonnes of air cargo movement annually up from the current 37 million metric tonnesTo help achieve this target ACFI also launched a knowledge report during the event he mentionedEdward explained that the report prepared by ACFIs knowledge and research wing analyses current cargo capacity and outlines key steps needed to scale up operationsWe need to simplify transhipment increase freighter capacity and strengthen tier2 and tier3 city connectivity These are critical elements for growth he saidOn future collaborations Edward said ACFI continues to work closely with the Ministry of Civil Aviation offering suggestions on policy changes to help realise the 10 million metric tonnes visionHe praised the ministry for already taking several positive steps such as allowing passenger charters with belly cargo capacity to transport goods and relaxing freighter restrictions for more citiesWere also in talks with state governments like Uttar Pradesh and Chhattisgarh to sign MoUs on skilling and logistics advisory These initiatives will help unlock regional air cargo potential he addedWhen asked about challenges facing the aviation industry today Edward acknowledged the turbulent global environment but remained optimisticYes we live in uncertain times but the air cargo industry has shown time and again that it can adapt evolve and grow stronger Our resilience is our biggest strength he said IANS https://dailyworld.in/market/air-cargo-industry-shows-resilience-amid-global-challenges-sanjiv-edward-625695.html Fri, 11 Jul 2025 21:16:00 +0530 https://dailyworld.in/market/maha-govt-forms-committee-on-crop-loan-waiver-625552.html Mumbai July 10 The state government is working sensitively to make the lives of farmers bearable and to achieve economic progress in their lives Cooperation Minister Babasaheb Patil announced in the Legislative Assembly on Thursday that a committee has been formed to study the loan waiver for farmersThe minister was speaking while replying to the motion moved by the opposition parties under Rule 293 in the Legislative AssemblyMinisters announcement comes amid opposition criticising the government for its dillydallying over announcing a farm loan waiver as proposed by the MahaYuti alliance in the state assembly election manifestoThe opposition has accused the government of a lack of action to implement its longstanding promise especially when the farm loan waiver is needed to curb rising farmers suicides and address the financial stress faced by the farmersThe Cooperation Minister said that a highlevel meeting was recently held under his chairmanship in the presence of the Ministers of Revenue Agriculture Marketing Forest and Fisheries to look into the issue of loan waiver of farmers and other problems faced by the agriculture sector in the stateIn this meeting a detailed review was taken of the implementation of schemes related to the loan waiver of farmers funds disbursed and pending casesChhatrapati Shivaji Maharaj Shetkari Samman Yojana 2017 provides a loan waiver a onetime settlement scheme incentive subsidy to farmers who repay loans regularly Under this scheme Rs 15349 crore has been sanctioned for 2617 lakh farmers till July 2020 Out of this Rs 13705 crore has been directly disbursed to the bank accounts of 2488 lakh farmers Also Rs 2773 crore has been sanctioned to 1722 lakh farmers for incentive benefits and Rs 2427 crore has been disbursed directly to the bank accounts of 1489 lakh farmers said the ministerUnder the Mahatma Jyotirao Phule Shetkari Karzmukti Yojana 2019 it was decided to waive crop loans up to Rs 20 lakh Under this scheme 3244 lakh farmers completed Aadhaar authentication Out of these an amount of Rs 20537 crore was sanctioned to benefit 3233 lakh loan accounts Out of these Rs 2049753 crore has been deposited in 3227 lakh loan accounts The implementation of this scheme is 99 per cent complete and action will be taken on the remaining cases soon Eligible farmers who have taken crop loans and repaid them regularly in any two of the three financial years 201718 201819 and 201920 are given an incentive benefit of up to Rs 50000 under this scheme said the ministerThe minister said that under this scheme an amount of Rs 5222 crore has been sanctioned for providing benefits to 1540 lakh borrowers out of which Rs 521675 crore has been directly distributed to 1438 lakh borrowers The process of providing benefits to the remaining borrowers is in the final stageHe stated that the schemes implemented by the state government for farmers have provided financial relief to lakhs of farmers adding that a study committee has been formed to make the implementation of the scheme more dynamic and efficient IANS https://dailyworld.in/market/maha-govt-forms-committee-on-crop-loan-waiver-625552.html Fri, 11 Jul 2025 16:09:00 +0530 https://dailyworld.in/market/sensex-nifty-open-lower-amid-uncertainty-around-trump-tariffs-625583.html Mumbai July 11 The Indian equity market indices opened lower on Friday amid uncertainty surrounding US President Donald Trumps trade policies as he continues to threaten elevated tariffs across various sectors and countries At 920 am Sensex was down 224 points or 027 per cent at 82965 and Nifty shed 65 points or 026 per cent at 25289Marginal buying was seen in the midcap and smallcap stocks Nifty midcap 100 index was up 60 points or 010 per cent at 59220 and Nifty smallcap 100 index was up 11 points or 006 per cent at 18967According to analysts given the current environment marked by uncertainty and elevated volatility traders are advised to adopt a cautious wait and watch approach particularly with leveraged positions Booking partial profits on rallies and employing tight trailing stoplosses is recommendedIn the Sensex pack HUL Asian Paints Axis Bank NTPC Power Grid Tata Steel SBI Adani Ports Tata Steel Sun Pharma and ITC were major gainers TCS Infosys MampM Tech Mahindra HCL Tech Bharti Airtel Bajaj Finserv and Trent were major losersOn the sectoral front PSU Bank financial services pharma FMCG and metal were in the green while auto IT realty and media were in the redIn Asia stock markets traded in the mixed zone Japans Nikkei 225 and South Koreas KOSPI were trading flat However Chinas Shanghai Composite and Hong Kongs Hang Seng went up over one per centOvernight in the US Wall Streets major indices the SampP 500 and techheavy Nasdaq Composite registered record closing highs The Dow Jones climbed 043 per cent and the SampP 500 gained 027 per centThe foreign institutional investors FIIs bought equities worth Rs 221 crore on July 10 while domestic institutional investors DIIs also purchased equities worth Rs 591 crore on the same dayTrump has announced 35 per cent tariffs on Canada and warned of higher levies if Ottawa retaliates These tariffs will effective from August 1 Most recently Trump has threatened to impose a 50 per cent tariff on Brazilian imports unless Brazil halts legal proceedings against former President Bolsonaro IANS https://dailyworld.in/market/sensex-nifty-open-lower-amid-uncertainty-around-trump-tariffs-625583.html Fri, 11 Jul 2025 16:22:00 +0530 https://dailyworld.in/market/india-rolls-out-1st-electric-truck-scheme-with-maximum-incentive-of-rs-96-lakh-per-vehicle-625644.html New Delhi July 11 The Centre on Friday launched a groundbreaking scheme to provide financial incentives for electric trucks etrucks under the PM EDRIVE initiative with the maximum incentive set at Rs 96 lakh per vehicle This marks the first time the government is extending direct support for electric trucks aiming to accelerate the countrys transition to clean efficient and sustainable freight mobility The scheme is expected to support the deployment of approximately 5600 etrucks across the countryDiesel trucks though constituting only 3 per cent of the total vehicle population contribute to 42 per cent of transportrelated greenhouse gas emissions and significantly worsen air pollution said Union Minister for Heavy Industries and Steel HD KumaraswamyThis pioneering scheme guided by the visionary leadership of Prime Minister Narendra Modi represents Indias first dedicated support for electric trucksIt will drive our nation toward sustainable freight mobility a cleaner future and the realisation of Viksit Bharat by 2047 in alignment with our netzero emissions goal by 2070 said the ministerUnder the scheme demand incentives will be extended to N2 and N3 category electric trucks as defined under the Central Motor Vehicle Rules CMVRThe N2 category includes trucks with a Gross Vehicle Weight GVW above 35 tonnes and up to 12 tonnesThe N3 category covers trucks with a GVW exceeding 12 tonnes and up to 55 tonnes In the case of articulated vehicles incentives will apply only to the puller tractor of the N3 categoryTo ensure reliability and performance the scheme mandates comprehensive manufacturerbacked warranties The battery must be covered under a warranty for five years or 5 lakh kilometres whichever is earlier The vehicle and motor must have a warranty of five years or 25 lakh kilometres whichever is earlier according to an official statementTo promote affordability the incentive amount will depend on the GVW of the electric truck with the maximum incentive set at Rs 96 lakh per vehicle These incentives will be offered as an upfront reduction in the purchase price and reimbursed to OEMs via the PM EDRIVE portal on a firstcome firstserved basisA dedicated provision for 1100 etrucks registered in Delhi has been made with an estimated outlay of Rs 100 crore aimed at addressing the capitals serious air quality challengesThe initiative has received a warm response from both manufacturers and users of etrucks who acknowledge the schemes potential to lower logistics costs and reduce carbon emissionsThe Steel Authority of India Limited SAIL has committed to procure 150 etrucks over the next two years for deployment across multiple locations Additionally SAIL has set an internal target to ensure that at least 15 per cent of all vehicles hired across its units are electricTo qualify for the incentives the scrapping of old polluting trucks is mandatory ensuring a dual benefit of modernising vehicle fleets and reducing emissions said the ministry IANS https://dailyworld.in/market/india-rolls-out-1st-electric-truck-scheme-with-maximum-incentive-of-rs-96-lakh-per-vehicle-625644.html Fri, 11 Jul 2025 17:11:00 +0530 https://dailyworld.in/market/sensex-nifty-end-lower-as-global-trade-worries-add-pressure-625648.html New Delhi July 11 Indian stock markets ended lower on Friday weighed down by rising global trade tensions following fresh tariffs imposed by US President Donald Trump on Canadian imports Investor sentiment was also hit by a sharp selloff in IT stocks after Tata Consultancy Services TCS reported weakerthanexpected earnings for the first quarter Q1 of FY25The Sensex dropped 68981 points or 083 per cent to close at 8250047 Similarly the Nifty index slipped 2054 points or 081 per cent to settle at 2514985The domestic market experienced a negative close due to a sober start to Q1 earnings season and a rampup in the tariff threat by the US to impose a 35 per cent tariff on Canada Vinod Nair of Geojit Investments Limited saidInvestors may continue to be focused on quarterly earnings for a buyondips strategy however in the near term the current premium valuation and the global headwinds like low spending amp tariff uncertainties may restrain new inflows Nair addedAmong the 30 stocks on the Sensex TCS Mahindra and Mahindra Tata Motors Bharti Airtel HCL Technologies and Titan were among the top losers with losses of up to 35 per centOn the positive side Hindustan Unilever Axis Bank Sun Pharma NTPC and Eternal were the top gainersBroader markets also came under pressure The Nifty MidCap index declined by 088 per cent while the Nifty SmallCap index lost 102 per centSectorwise IT and auto stocks were the biggest losers Both the Nifty IT and Nifty Auto indices fell nearly 18 per cent eachTCS lowerthanexpected quarterly earnings weighed heavily on the IT pack Other sectors such as realty oil and gas media energy banking metal and consumer durables also ended in the redHowever some pockets of the market remained resilient The Nifty FMCG and Pharma indices closed with gains offering some support to the overall marketExperts noted that markets traded under pressure on Friday and lost over half a per cent dragged down by weak cuesThe session began on a negative note following disappointing results from IT major TCS which further worsened due to profittaking in heavyweight stocks across other sectors said Ajit Mishra of Religare Broking LimitedHe also added that the sentiment remained subdued due to ongoing uncertainty around tariffrelated issues and a weak start to the earnings seasonMeanwhile market volatility saw a slight uptick The India VIX which indicates investor sentiment and market volatility rose 124 per cent to end at 1181 IANS https://dailyworld.in/market/sensex-nifty-end-lower-as-global-trade-worries-add-pressure-625648.html Fri, 11 Jul 2025 17:35:00 +0530 https://dailyworld.in/market/from-farms-to-factories-how-tamil-nadus-incubation-hubs-are-boosting-rural-livelihoods-625526.html TiruchirappalliThanjavur July 10 In a powerful display of how grassroots innovation technical mentorship and governmentbacked initiatives are transforming Indias rural economy IANS visited two model Food Processing Incubation Centres in Tamil Nadu one at SASTRA Deemed University in Thanjavur and the other at the ICARNational Research Centre for Banana NRCB in Tiruchirappalli Both centres established under the PM Formalisation of Micro Food Processing Enterprises PMFME Scheme of the Ministry of Food Processing Industries MoFPI with technical support from NIFTEMThanjavur are empowering MSMEs startups and individual entrepreneurs especially women by offering handson training access to modern infrastructure and realworld market linkagesThese incubation centres stand as vital engines in Indias push toward an Atmanirbhar Bharat and the Vocal for Local movement ensuring that food entrepreneurs from rural belts not only survive but thrive in the booming food processing sectorSASTRA University Centre Turning milk cashew and coconut into rural wealthLocated just 10 km from Thanjavur the SASTRA Deemed University Food Processing Incubation Centre has become a vital training and production ground for rural entrepreneurs From milk pasteurisation and homogenisation to valueadded processing of cashews coconuts and bakery items the facility is changing livesProf Rajan Dean School of Chemical and Biotechnology explainsUnder the PMFME scheme weve created an incubation environment where even those who cant afford expensive equipment can access our infrastructure to produce paneer butter curd and other products This directly supports rural livelihood creationOne such beneficiary is Aishwarya a woman entrepreneur who underwent skills training at the centreThis scheme from Pradhan Mantri ji helped me gain the confidence and knowledge to start my own café I got a loan through the programme and now run my own business she saysNIFTEMT The powerhouse behind the movementAt the heart of both centres success is NIFTEMT National Institute of Food Technology Entrepreneurship and Management Thanjavur This premier institute functioning under MoFPI is playing a transformative role in research innovation and skill development across Indias food sectorProf V Palanimuthu Director of NIFTEMT told IANSThis institute is pivotal to Indias food processing future We focus on innovation technology transfer and creating a skilled workforce Our NABLaccredited food testing lab is also a National Referral Lab recognised by FSSAINIFTEMT offers undergraduate to doctoral programmes in food technology with flagship admissions through JEE Mains But beyond academics its realworld impact is visible through success stories like that of Rajeshwari Ravi Kumar who won an award from the President of India in 2015 and later turned to NIFTEM for technical supportI started with just two products NIFTEM guided me and I received a Rs 10 lakh loan to expand Today I run a fullfledged food business in Trichy Tamil Nadu she sharedDr V Chandrasekar Associate Professor at NIFTEM addsWe use scientific methods to develop food products based on sensory analysis Our training ensures that every product meets quality standardsICARNRCB Trichy Banana is the new goldThe second incubation centre IANS visited is housed within the ICARNational Research Centre for Banana NRCB in Tiruchirappalli This facility specialises in the value addition of bananas and other horticultural produce providing handson training for making juices pickles and bakery goodsDr R Selvarajan Director NRCB explainedThe centre helps rural entrepreneurs turn bananabased produce into highvalue goods Many who cannot afford industrial equipment can come here use our facility and earn a livelihoodThis model is not just about value addition its about building a decentralised economy that links scientific research directly with grassroots enterprise IANS https://dailyworld.in/market/from-farms-to-factories-how-tamil-nadus-incubation-hubs-are-boosting-rural-livelihoods-625526.html Thu, 10 Jul 2025 23:00:00 +0530 https://dailyworld.in/market/fm-sitharaman-to-embark-on-three-day-visit-to-meghalaya-from-tomorrow-625310.html Shillong July 9 Union Finance and Corporate Affairs Minister Nirmala Sitharaman would undertake a threeday visit to Meghalaya from July 10 and attend a series of events officials said on Wednesday A Meghalaya government official said that the visit would commence with the inauguration of the Polo Shopping Complex followed by an interaction under the Project Monitoring Information System PMIS in Shillong On July 11 the Finance Minister will inaugurate the Northeast Conclave and lay the foundation stone for the Indian Institute of Corporate Affairs IICA campus at the Indian Institute of Management Shillong Meghalaya Chief Minister Conrad K Sangma would grace the occasion as the Guest of Honour Sitharaman would also visit the Shillong Tech Park at Umsawli and also inaugurate an exhibition showcasing farmers and entrepreneurs at the Lariti International Centre Shillong During her visit the Union Minister is set to attend a series of programmes and visit various stakeholder groups to review development initiatives and interact with beneficiaries across sectors She would engage in an interaction with industry stakeholders at the Courtyard Marriott Shillong on July 12 The day would also include an interaction with Women SelfHelp Groups Lakhpati Didis and Farmer Producer Organisations at Laitkynsew Village FM Sitharaman would interact with beneficiaries of the Payment for Ecosystem Services Program at Siej Village The visit is set to conclude with a public program at Sohbar Village one of the 96 identified Vibrant Villages On the final day of her visit on July 13 she would visit Ram Krishna Ashram School at Sohra Meanwhile Sangma earlier this week advocated for enhanced financial support to the smaller northeastern states citing their unique geographical economic and developmental challenges Sangma took up the issue during his meeting with members of the 16th Finance Commission headed by Arvind Pangarhiya in New Delhi on July 7 In a post on his X handle the Meghalaya Chief Minister had said North East States while having their own unique and distinct issues share common concerns and challenges In this context a joint memorandum from Mizoram Tripura Sikkim and Meghalaya was submitted to the 16th Finance Commission outlining the special needs and developmental priorities of the region IANS https://dailyworld.in/market/fm-sitharaman-to-embark-on-three-day-visit-to-meghalaya-from-tomorrow-625310.html Thu, 10 Jul 2025 00:26:00 +0530 https://dailyworld.in/market/railways-give-9-000-jobs-in-q1-plans-50-000-for-fy-2025-26-625313.html New Delhi July 9 Indian Railways has already handed out over 9000 appointment letters in the first quarter of the financial year 202526 Q1 FY26 and is on track to offer more than 50000 jobs by the end of this fiscal year the Ministry of Railways announced on Wednesday The Railway Recruitment Boards RRBs have been actively conducting largescale recruitment drives to fill various positionsSince November 2024 the RRBs have held ComputerBased Tests CBTs for over 186 crore candidates across the country for seven different recruitment notificationsThese notifications together aim to fill 55197 vacancies most of which will be appointed during the current financial yearConducting exams for such a large number of candidates is a massive task that requires detailed planning and coordinationTo make the process more convenient RRBs have started allotting exam centres closer to the candidates homesSpecial priority is being given to female candidates and persons with benchmark disabilities PwBDs for local centresThis change has increased the need for more exam centres and staff but is aimed at making the recruitment process more accessible and inclusiveTo ensure transparency and fairness RRBs have introduced Aadhaarbased eKYC authentication for the first time in such largescale examsThis step has seen a high success rate of over 95 per cent in verifying candidates identitiesAdditionally to curb cheating and the use of unfair means jammers are now being used in 100 per cent of the exam centres to block electronic communicationThe recruitment drive is not slowing down anytime soon Following the annual calendar twelve more notifications have already been issued since 2024 aiming to fill 108324 vacanciesWith this another 50000plus appointments are expected to be made in the financial year 202627 IANS https://dailyworld.in/market/railways-give-9-000-jobs-in-q1-plans-50-000-for-fy-2025-26-625313.html Thu, 10 Jul 2025 00:27:00 +0530 https://dailyworld.in/market/traders-launch-fresh-salvo-against-e-commerce-firms-after-fatf-report-625255.html New Delhi July 9 The Confederation of All India Traders CAIT has stepped up its attack against ecommerce platforms following global watchdog FATFs findings that show chemicals used in explosions triggered by some terrorist organisations in India had been bought from online trading platforms Recent revelations in the FATF report have exposed a dangerous misuse of online platforms and payment apps for terror funding posing a serious threat to national security It is deeply alarming that such digital channels which are meant to promote convenience and innovation are being exploited for activities that endanger the nation said Delhis Chandni Chowk MP amp Secretary General of Confederation of All India Traders CAIT in a statement issued on WednesdayThe accountability of ecommerce platforms must be fixed How can these ecommerce platforms avoid their responsibility Khandelwal saidKhandelwal further stated that the Bureau of Indian Standards BIS had recently conducted raids on Amazon warehouses and uncovered large quantities of spurious and substandard goods raising serious questions about the lack of regulatory compliance and consumer protection by major ecommerce platformsHe alleged that these developments are not isolated incidents they represent a growing and systemic threat to Indias retail trade and consumer safety Unregulated and unethical practices by ecommerce giants are not only destroying the livelihood of local small traders but also undermining the very framework of legal and economic accountabilityKhandelwal said that it is high time stern and immediate action is taken against these ecommerce platforms He suggested the strict enforcement of rules under the Consumer Protection Act against violators immediate rollout of a comprehensive ecommerce policy that ensures transparency accountability and fair competition Strong monitoring of digital payment gateways to prevent misuse for illicit activities and an independent regulatory authority to regulate and monitor ecommerce in India should also be undertaken he addedKhandelwal said that the nations economy traders and consumers cannot be held hostage by the irresponsible conduct of unregulated online platforms Therefore urgent intervention is needed to protect Indias trade sovereignty and ensure digital commerce is safe secure and ethical IANS https://dailyworld.in/market/traders-launch-fresh-salvo-against-e-commerce-firms-after-fatf-report-625255.html Wed, 09 Jul 2025 19:10:00 +0530 https://dailyworld.in/market/new-record-guwahati-airport-handles-4243-mt-cargo-in-a-single-day--625269.html Guwahati July 9 The GIAL terminal of Lokpriya Gopinath Bordoloi International Airport LGBIA in Guwahati recorded its highestever singleday cargo handling of 4243 metric tonnes MT on June 28 surpassing the previous record of 4043 MT set last year a growth of 495 per cent officials said on Wednesday A spokesperson of the GIAL said that the Guwahati International Airport Limited GIAL terminals achievement was part of a broader upward trend that culminated in the GIAL cargo terminal LGBIA crossing the 844 MT mark in monthly cargo processed for the first time since the commencement of operations date COD She said that this is a growth of 1193 per cent while the previous monthly high was 754 MT in January this year The record growth in cargo tonnage underscores the growing role of LGBIA as a logistics hub in the northeast region of India comprising eight states It is the outcome of focused operational enhancements improved cargo handling efficiency and the airports strategic importance in connecting northeast India with key domestic markets The GIAL cargo terminal has consistently demonstrated strong growth in cargo volumes over the first quarter of FY 202526 with yearonyear comparisons reflecting a robust upward trajectory the spokesperson said Agartala and Imphal remain the prime contributors in the northeast region while major destinations across the country include Mumbai Delhi Kolkata and BengaluruThe airport has seen strong import activity from Bengaluru and Jaipur with flowers being the primary import commodity contributing to the regions growing floral trade These achievements are not only milestones for LGBIAs GIAL cargo terminal but also significant indicators of economic vibrancy in the northeast region The growing cargo movement reflects the trust of our partners and the regions increasing integration with national supply chains said the spokesperson She said that with infrastructure enhancements and a focus on streamlining operations LGBIAs GIAL terminal is set to further strengthen its role as a cargo gateway for the northeast region IANS https://dailyworld.in/market/new-record-guwahati-airport-handles-4243-mt-cargo-in-a-single-day--625269.html Wed, 09 Jul 2025 20:06:00 +0530 https://dailyworld.in/market/hardeep-puri-highlights-huge-oil-potential-in-indias-andaman-sea-at-opec-seminar-625295.html New Delhi July 9 India plans to explore and drill for oil and gas with a whole new momentum across 25 lakh sq kms in Round 10 under the Open Acreage Licensing Policy OALP Minister of Petroleum and Nautural Gas Hardeep Singh Puri said on Wednesday at the 9th OPEC International Seminar in Austrias capital Vienna Being close to discovering a Guyanascale oilfield in the Andaman Sea India is in the midst of one of the most ambitious plans to enhance the efforts to drill for more and further enhance hydrocarbons exploration in the country under the dynamic leadership of Prime Minister Narendra Modi the minister informed the captains and professionals of the global energy sector at the seminarHe highlighted that Indias target is to increase the countrys exploration acreage to 05 million sq km by 2025 and 10 million sq km by 2030This ambition is supported by a series of policy reforms in including shifting from a Production Sharing Contract regime to a Revenue Sharing Model under HELP and amendments to ORD Act 1948 to provide a robust framework for managing leases improving safety enabling dispute resolution and supporting the integration of renewable energy sources in hydrocarbon projects Puri explainedHe said that this is in addition to reducing NoGo areas by 99 per cent thereby freeing up over 1 million sqkm for exploration and production and significant investments in basin data acquisition through national projects such as the National Seismic Program NSP Andaman Offshore Project Mission Anveshan and the Extended Continental Shelf Survey thereby laying a strong datadriven foundation for Indias upstream growthPuri further stated that as the worlds thirdlargest energy consumer with a demand of about 54 million barrels of oil per day Indias energy strategy is rooted in pragmatism resilience and fairness India is both a structural growth engine and a longterm stabiliser of global oil markets We will contribute about 25 per cent of incremental global energy demand growth in future he observedThe minister said that India was navigating todays volatile global energy landscape through a multidimensional approach that includes diversifying our crude import sources from 27 to 40 countries now enhancing domestic production developing alternative fuel sources and transitioning towards a gasbased economyIndia is also aiming to become a global refining hub by increasing its refining capacity to 310 MMTPA by 2028 and augmenting the petrochemical capacity to be a 300 billion industry by 2030 he addedPuri said that even as the world was dealing with geopolitical difficulties India successfully navigated through the trilemma of energy availability affordability and sustainability It was the only major economy in the world to reduce fuel prices even as oil prices skyrocketed around the world India aims to achieve energy independence by 2047 and reach netzero emissions by 2070He further stated that India strongly believes that biofuels are a critical pillar in the global energy transition especially for countries balancing development and decarbonisationWe launched the Global Biofuels Alliance which has over 29 countries and 14 international organisations working together to scale up sustainable biofuels Domestically India is accelerating the use of ethanol CBG biodiesel and SAF as part of our decarbonization roadmap the minister added IANS https://dailyworld.in/market/hardeep-puri-highlights-huge-oil-potential-in-indias-andaman-sea-at-opec-seminar-625295.html Wed, 09 Jul 2025 22:06:00 +0530 https://dailyworld.in/market/indias-agri-exports-can-increase-to-rs-20-lakh-crore-with-processing-amp-branding-piyush-goyal-625302.html New Delhi July 9 Union Minister of Commerce and Industry Piyush Goyal on Wednesday said that Indias agriculture and fisheries exports have now reached Rs 45 lakh crore but they have the potential to grow to Rs 20 lakh crore provided the country strengthens food processing and improves the quality of branding and packaging Addressing the ICC Krishi Vikram Thematic Session Goyal said that Indias agricultural export basket is expanding with new commodities such as litchi pineapple bottle gourd and jamun which were not exported earlier now reaching international marketsHe mentioned that jamun was recently exported to the UK and litchis from Punjab were exported to Doha and Dubai He added that Indias footprint in global markets such as the UAE Saudi Arabia and other Gulf nations is steadily growingHe also highlighted Prime Minister Narendra Modis global push for millets through the International Year of Millets which has brought global attention to Indias traditional grains and their nutritional valueThe minister pointed out that when farmers industries and exporters work together challenges are resolved more efficiently He said government assistance would be available for packaging and design support to scale up exportsGoyal underlined the need to build a resilient supply chain across agriculture from seeds to fertilisers insecticides pesticides and equipment such as water pumps He said that India must be prepared for any global disruption in agricultural imports and ensure selfreliance across all aspects of farm inputsThe minister emphasised that drip irrigation can be a game changer for Indias agriculture particularly in rainfed areas He said that water conservation methods like drip irrigation must be scaled up into a mass movement By creating small water bodies at the village level and adopting drip irrigation widely Indian agriculture can become more predictable and less vulnerable to climate variability These steps will not only enhance productivity but also facilitate exports by improving crop reliability and consistencyHe highlighted the benefits of replacing outdated water pumps with smaller energyefficient models These smart pumps can be controlled remotely via mobile phones provide data on water usage and help farmers regulate irrigation When integrated with drip systems they can significantly reduce water wastage and damage caused by overirrigationHe said energyefficient pumps combined with drip irrigation could also bring down input costs and improve the overall sustainability of farming practices By reducing electricity usage and optimising water consumption these technologies directly benefit farmers and enhance longterm productivityThe minister urged agriculture entrepreneurs to collaborate with farmers to realise this potential He highlighted the recent creation of the Turmeric Board as a step towards boosting spice exports He also noted that coffee exports have doubled in recent years and while spice exports are growing more focused efforts are needed to scale furtherHe highlighted that natural and organic farming have immense potential The government is tightening certification norms for organic produce with the help of blockchain technology to ensure trust and traceability He added that the government will also support better packaging and product design so that Indias agricultural goods gain more visibility and competitiveness in the international marketThe minister said that the transformation of Indian agriculture has been both difficult and inspirational He highlighted how the strength of Indias soil the tireless efforts of farmers and continued government support have made India increasingly Atmanirbhar in agriculture He recalled that agriculture has always been a national priorityfrom Lal Bahadur Shastris slogan Jai Jawan Jai Kisan to Prime Minister Narendra Modis vision of Atmanirbhar BharatHe said that under the PMKisan Yojana every farmer receives funds annually The government has also prevented a rise in fertiliser costs by significantly expanding subsidiesHe informed that 1400 mandis have been strengthened and connected to the eNAM platform to facilitate transparent price discovery Farmers are being supported through Farmer Producer Organisations for access to mechanisation and a Rs 1 lakh crore Agriculture Infrastructure Fund is helping develop agriinfrastructureGoyal also spoke about the Drone Didi initiative under which 15 lakh women have been trained to use drones for fertiliser spraying He said the government is promoting intercropping horticulture and floriculture and encouraged agrientrepreneurs to learn international best practices and bring those innovations to Indian farms IANS https://dailyworld.in/market/indias-agri-exports-can-increase-to-rs-20-lakh-crore-with-processing-amp-branding-piyush-goyal-625302.html Wed, 09 Jul 2025 23:14:00 +0530 https://dailyworld.in/market/gujarat-kharif-sowing-crosses-50-pc-groundnut-cotton-lead-as-monsoon-progresses-625088.html Gandhinagar July 8 Kharif sowing in Gujarat has reached 5032 per cent of the total cultivable area as of July 7 according to data released by the state Agriculture Department The total sown area now stands at 4305 lakh hectares marking a steady advancement in crop coverage under the current monsoon conditions Groundnut continues to dominate Gujarats kharif crop landscape with sowing completed across 1759 lakh hectares followed closely by cotton at 1710 lakh hectaresOther major crops include fodder crops 310 lakh ha soybean 158 lakh ha vegetables 103 lakh ha and maize 80000 ha Additional sowing has also been reported in millet paddy tur moong castor guar and jowar The sowing progress coincides with uneven rainfall patterns across the state According to the State Emergency Operation Centre SEOC in Gandhinagar Gujarat has received an overall 4689 per cent of its average seasonal rainfallAmong regions Kutch leads with 56 per cent of seasonal rainfall followed by South Gujarat 5112 per cent Saurashtra 4592 per cent EastCentral Gujarat 4529 per cent and North Gujarat 4162 per cent A total of 42 talukas have recorded rainfall averaging 40 inches while 15 talukas have witnessed up to 80 inches and 126 talukas have seen between 10 to 20 inches of rain so far this monsoon In the past 24 hours alone Borsad received 4 inches Godhra 37 inches Gandhidham 23 inches and Devbhumi Dwarka 2 inches of rainfall The rainfall has also impacted the states water infrastructureCurrently 34 dams are on high alert 20 are on alert and 19 are on warning levels The Sardar Sarovar Dam a critical water resource for the state is reported to be at 4821 per cent of its total storage capacity In light of heavy rains 4278 people have been evacuated from lowlying areas across 10 districts and 685 individuals have been rescued by teams from the local administration National Disaster Response Force NDRF and State Disaster Response Force SDRF Despite the weatherrelated disruptions most roads and ST bus services remain operational ensuring continued connectivity across the state IANS https://dailyworld.in/market/gujarat-kharif-sowing-crosses-50-pc-groundnut-cotton-lead-as-monsoon-progresses-625088.html Wed, 09 Jul 2025 00:49:00 +0530 https://dailyworld.in/market/indian-market-settles-in-positive-territory-as-mini-india-us-deal-inches-closer-625002.html Mumbai July 8 IANS The Indian stock market closed in positive territory on Tuesday inching up in a range of 03 per cent as investors remained cautious ahead of the IndiaUS trade deal which is likely to materialise soonnbspSensex closed at 8371251 up 27001 points or 032 per cent against the previous sessions closing of 8344250 The 30share index hit an intraday high at 8381231 after starting the session in negative territory at 8338703nbspNifty settled 6120 points or 024 per cent high at 2552250nbspThe Indian equity market remained largely rangebound as investors awaited definitive progress on the IndiaUS trade agreement said analystsWhile sentiment remains cautiously optimistic about a potential deal the lack of formal confirmation has restrained fresh buying activity Vinod Nair Head of Research Geojit Investments LimitednbspMoreover the US decision to extend the deadline for implementing 25 per cent tariffs on key trading partners has led investors to adopt a more defensive approach Nair addednbspKotak Bank Adani Ports Eternal NTPC BEL Power Grid Infosys Tata Motors and HDFC Bank were settled in green from the Sensex basket while Mahindra and Mahindra Reliance Bharti Airtel TCS HCL Tech and Sun Pharma ended the session in negative territoryMeanwhile 27 stocks advanced and 23 declined from the Nifty50 Among the broader indices Nifty Midcap 100 Nifty Smallcap 100 closed lower while Nifty 100 surgednbspThe majority of sectoral indices settled in green Nifty Finance Services closed 068 per cent Nifty Bank ended 054 per cent higher and Nifty IT rose 030 per centnbspRupak De from LKP Securities said the index has moved up after a consolidation on the hourly chart improving sentiment for the bullsnbspOn the daily chart the Nifty formed a green candle following a hammer and a doji pattern This type of setup often indicates a potential positive move ahead On the lower end support is placed at 25400 while on the higher end resistance is seen at 25600 and 2575025800 he mentionednbspThe rupee traded strongly gaining 020 rupees or 023 per cent to close at 8565 Softer crude prices and easing FII selling pressure supported the currencynbspAccording to analysts the rupee is expected to remain firm within a range of 8525 to 8600 in the near term https://dailyworld.in/market/indian-market-settles-in-positive-territory-as-mini-india-us-deal-inches-closer-625002.html Tue, 08 Jul 2025 16:14:00 +0530 https://dailyworld.in/market/stock-market-ends-flat-as-investors-await-clarity-on-india-us-trade-deal-624831.html Mumbai July 7 The Indian stock market ended flat on Monday as investors remained cautious amid uncertainty around the interim IndiaUS trade deal Sensex closed at 8340968 marginally up 961 points or 001 per cent The 30share index opened marginally lower at 8339808 against the last sessions closing of 8343289 The index did not see much volatility as it touched an intraday high at 8351683 a jump of 84 pointsSimilarly Nifty settled flat at 2546130 up 030 pointsFrom the Sensex basket Hindustan Unilever Adani Ports Kotak Bank Asian Paints ITC Power Grid NTPC Bharati Airtel and Sun Pharma settled in positive territory While Mahindra and Mahindra Tata Motors Tata Steel HDFC Bank Bajaj Finance LampT TCS SBI and Infosys ended in the redMeanwhile 22 shares advanced and 28 declined from the Nifty50 indexNifty largely traded in a narrow range throughout the session as investors remained cautious ahead of the anticipated US tariff announcements said analystsMarket participants appeared reluctant to take aggressive positions keeping the broader index rangebound said Sundar Kewat from Ashika Institutional EquityThe broader index remained rangebound as market participants seemed hesitant to adopt aggressive positionsOn the sectoral level stocks in the consumer goods oil and gas consumption and real estate sectors showed buying interest On the other hand there was some profitbooking and poor performance in the media metals IT and automotive sectors said analystsThe majority of broader indices closed in negative territory with the Nifty Midcap 100 declining 027 per cent or 162 points and the Nifty Smallcap 100 down 044 per cent or 8290 points Nifty FMCG and Nifty 100 surgedRupee traded weaker by 047 rupees or 056 per cent closing at 8587 as dollar strength returned amid renewed uncertainty over US trade dealsWith the 90day tariff extension period nearing its end and no formal agreements signed yet market sentiment has turned cautious All eyes are now on the upcoming Fed meeting minutes which could guide dollar direction further said analysts IANS https://dailyworld.in/market/stock-market-ends-flat-as-investors-await-clarity-on-india-us-trade-deal-624831.html Mon, 07 Jul 2025 17:00:00 +0530 https://dailyworld.in/market/indian-stock-market-settles-in-green-amid-hopes-for-potential-india-us-trade-deal-624388.html Mumbai July 4 After witnessing a highly volatile session the Indian stock market ended in green on Friday amid value buying in IT and banking stocks as talks progressed on the interim IndiaUS trade deal Touching an intraday low at 83015 the Sensex bounced back to end at 8343289 up 19342 points or 023 per cent against the last sessions closing of 8323947 Similarly Nifty closed 022 per cent or 5570 points higher at 25461The Indian market is experiencing a pause as investors adopt a waitandwatch strategy ahead of the impending US tariff deadline with mixed global cues said Vinod Nair Head of Research Geojit Investments LimitedBoth the benchmark indices traded with volatility amid mixed global cues and investors cautious approach ahead of the US tariff deadlineAmong Sensex stocks Bajaj Finance Infosys Hindustan Unilever HCL Ultratech Cement Bajaj Finserv and TCS closed in positive territory While Sun Pharma ITC Tata Motors Asian Paints Mahindra and Mahindra and Maruti Suzuki settled in redMeanwhile 31 stocks inched high and 19 closed in red from the Nifty indexNifty IT 080 Bank Nifty 042 per cent and Nifty Fin Service 049 per cent closed with decent gains among broader indices Nifty midcap 100 and Nifty smallcap100 closed flatAccording to analysts markets remained volatile for yet another session and ended on a flat noteThe tone was negative in the first half however a decent recovery in heavyweight stocks pared all the losses as the day progressed helping the index close near the days high at the 25461 level said Ajit Mishra SVP Research Religare Broking LtdOngoing FII outflows reflect a riskoff approach while DII inflows are offering partial support said market expertsFollowing the recent rally main indices are hovering near peak valuation levels limiting further upside which is highly dependent on Q1 earnings and details of the trade dealIn the midand smallcap space the market has shifted to being more stockspecific following the recent recovery said Nair IANS https://dailyworld.in/market/indian-stock-market-settles-in-green-amid-hopes-for-potential-india-us-trade-deal-624388.html Fri, 04 Jul 2025 17:19:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-higher-nifty-above-25-500-623760.html Mumbai July 1 The Indian benchmark indices opened higher on Tuesday amid positive global cues as buying was seen in the auto and IT sectors in the early trade At around 926 am Sensex was trading 18866 points or 023 per cent up at 8379512 while the Nifty added 5480 points or 021 per cent at 2557185According to analysts with the US market setting new record highs the global equity market mood is positive and West Asian geopolitics is no longer a threat to global economyGoing forward the market is likely to be influenced by developments on the tariff front An IndiaUS trade deal will be positive and if it does not happen the market is likely to be impacted said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedNifty Bank was up 5195 points or 009 per cent at 5736470 in early trade The Nifty Midcap 100 index was trading at 5988765 after adding 14645 points or 025 per cent Nifty Smallcap 100 index was at 1912760 after climbing 5250 points or 028 per centAccording to experts Niftys shortterm trend remains positive as it is still positioned above its nearest moving average support the 5day EMAThe Nifty has partially filled the gap range of 2564025740 that was formed on October 3 2024 Any move and close above 25740 would negate this gap resistance and could potentially extend the Niftys upward rally towards the 26000 mark Immediate support for the Nifty comes in at 25400 said Devarsh Vakil Head of Prime Research at HDFC SecuritiesMeanwhile in the Sensex pack Asian Paints BEL Bharti Airtel HDFC Bank PowerGrid ITC HCL Tech Tata Motors and Hindustan Unilever Limited were the top gainers Axis Bank Trent Tata Steel Sun Pharma Tech Mahindra Maruti Suzuki and Eternal were the top losersStrong macros of the Indian economy can facilitate increasing fund flows into Indian equity Sustained weakness in the dollar dollar index now at 9681 means the possibility of heavy selling by FIIs is low They might even continue to buy despite high valuations said expertsForeign institutional investors FIIs were net sellers on June 30 selling equities worth Rs 83150 crore Meanwhile domestic institutional investors DIIs remained buyers purchasing equities worth Rs 349744 croreIn the Asian markets China Bangkok Seoul and Jakarta were trading in green whereas only Japan was trading in redIn the last trading session Dow Jones in the US closed at 4409477 up 27550 points or 063 per cent The SampP 500 ended with a gain of 3187 points or 052 per cent at 620494 and the Nasdaq closed at 2036973 up 9627 points or 047 per cent IANS https://dailyworld.in/market/indian-stock-market-opens-higher-nifty-above-25-500-623760.html Tue, 01 Jul 2025 09:44:00 +0530 https://dailyworld.in/market/sensex-nifty-end-lower-after-rising-for-4-straight-sessions-623657.html Mumbai June 30 After rising for 4 straight sessions the Indian stock markets took a breather on Monday as investors booked profits amid the absence of strong domestic cues The Sensex dropped 452 points or 054 per cent to close at 8360646 During the day it moved between an intraday high of 8409953 and a low of 8348213nbspNifty also followed suit The 50share index opened at 2566165 touched a high of 2566935 and closed at 2551705 down by 12075 points or 047 per centnbspIn contrast the broader markets performed better The Nifty Midcap100 rose 06 per cent while the Nifty Smallcap100 gained 052 per cent indicating continued investor interest in mid and smallcap stocksAmong the Sensex stocks Axis Bank Kotak Mahindra Bank Maruti Bajaj Finance Reliance Industries Tata Steel and Bharti Airtel were among the top losers On the gaining side Trent State Bank of India Bharat Electronics Titan Bajaj Finserv and Eicher Motors saw buying interestnbspSectorwise performance was mixed PSU banks led the gains with the Nifty PSU Bank index jumping 266 per centnbspStocks like Maharashtra Bank Punjab National Bank Bank of Baroda Union Bank of India Canara Bank UCO Bank Indian Bank and Punjab amp Sind Bank recorded notable gainsOther sectors like IT Consumer Durables Pharma Healthcare Media and Energy also ended in the green However some major sectors saw losses Nifty Auto Bank Financial Services FMCG Metal Realty Private Bank and Oil amp Gas indices ended lowernbspVinod Nair Head of Research at Geojit Financial Services said that while global sentiment is turning positive due to easing tensions in the Middle East and hopes of a US trade deal Indian markets took a pause after the recent rallyHe added that investors are now focusing on upcoming corporate earnings with mid and smallcap stocks showing strength in anticipation of better results driven by consumer demand and improved marginsnbspMeanwhile the India VIX which measures market volatility rose by 32 per cent to settle at 1278nbspRupee traded weak near 8570 down by 021 per cent as capital market weakness and recent rupee gains prompted profit booking and long unwinding The pressure came ahead of a crucial week marked by key US data releases and the end of the 90day extended tariff deadline Rupee is expected to remain volatile within a range of 8535 to 8600 Jateen Trivedi of LKP Securities stated IANS https://dailyworld.in/market/sensex-nifty-end-lower-after-rising-for-4-straight-sessions-623657.html Mon, 30 Jun 2025 16:43:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-flat-sensex-above-84-000-623587.html Mumbai June 30 The Indian benchmark indices opened flat on Monday amid positive global cues as buying was seen in the PSU bank and IT sectors in the early trade At around 927 am Sensex was trading 135 points up at 8405755 while the Nifty added 650 points or 003 per cent at 2564430According to analysts decline in geopolitical tensions in West Asia the sharp pull back of Brent crude to 67 and reports of positive developments on the trade front with possibilities of trade deals between USChina and USIndia augur well for equity marketsSignificant contributors to the rally in India in recent days have been largecaps like HDFC Bank ICICI Bank RIL and LampT which have seen accumulation by institutions said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedNifty Bank was up 1515 points or 003 per cent at 5745905 in early trade The Nifty Midcap 100 index was trading at 5960605 after adding 22090 points or 037 per cent Nifty Smallcap 100 index was at 1913015 after climbing 15335 points or 081 per centMeanwhile in the Sensex pack MampM Kotak Mahindra Bank Bharti Airtel HDFC Bank NTPC UltraTech Cement HDFC Bank and UltraTech Cement were the top losers Whereas Trent SBI LampT Eternal Axis Bank and Hindustan Unilever Limited were the top gainersWeakness in the dollar index continues to support FII inflows and retail optimism continues to support flows into domestic funds It makes sense to remain invested in this bull market but making fresh investments at elevated valuations would be risky said expertsForeign institutional investors FIIs were net buyers on June 27 purchasing equities worth Rs 139702 crore Meanwhile domestic institutional investors DIIs remained sellers selling equities worth Rs 58893 croreIn the Asian markets China Bangkok Japan Seoul and Jakarta were trading in green whereas only Hong Kong was trading in redIn the last trading session on Friday Dow Jones in the US closed at 4381927 up 43243 points or 100 per cent The SampP 500 ended with a gain of 3205 points or 052 per cent at 617307 and the Nasdaq closed at 2027346 up 10555 points or 052 per cent IANS https://dailyworld.in/market/indian-stock-market-opens-flat-sensex-above-84-000-623587.html Mon, 30 Jun 2025 09:45:00 +0530 https://dailyworld.in/market/india-will-continue-to-be-fastest-growing-economy-even-perform-better-fm-sitharaman-623610.html New Delhi June 30 IANS India will continue to be the fastestgrowing economy at the current rate of growth or even better and with the monsoon being good agriculture will definitely come up with a more positive number Finance Minister Nirmala Sitharaman said on MondaynbspThe GDP growth accelerated to a robust 74 per cent in the fourth quarter of 202425 as result of which the growth rate for the full financial year works out to 65 per cent on the back of a strong performance of the agriculture construction and services sectors according to latest RBI dataIn a series of posts on X social media platform taken out from media interviews the finance minister said this growth rate will continue and may even become better with good monsoon aroundnbspShe further said that deepening of our markets is actually showing and the retailers are benefitting ordinary citizens are benefittingnbspOur systems are transparent They are digitised and can be accessed from home Individuals are able to do it on their own rather than depend on others to help them out These are signs of a very good dynamic economy FM Sitharaman emphasisedAccording to her it is clear from the policy that labourintensive units will be given supportnbspWe have been specific that handicrafts handmade goods etc will get succour So there is no way in which we are choosing between one labour and the other capitaltech Manufacturing whether it is employmentintensive or requires automation policy support will be given the Finance Minister highlightednbspBudget after budget over the past 11 years this government under Prime Minister Narendra Modi has made sure that we make some concrete policies that will help people particularly the MSMEs she addedLike the way PM Modi pushed the Aspirational Districts to meet saturation in most of the schemes the DhanDhaanya Krishi Yojana will make agricultural productivity the centre focus and the value addition as the way in which farmers income can be increased even in these areas she mentionednbspSo these are areas in which in fact I did suggest to the banks that in these 100 districts banks should come up with tailormade schemes for them said FM SitharamannbspPM Modi has also been very keen that defence will not be left wantingDefences requirements will be met Since 2014 attention has been given to small and greater details of demands from defence whether it is bulletproof jackets or getting the goods in time to the higher reaches she postednbspIndian defence production itself has seen a different growth and today they are also becoming prominent exporters Other than exports the way in which domestic capacities have given us the advantage of buying from India for Indian purposes has actually marked the difference FM Sitharaman added https://dailyworld.in/market/india-will-continue-to-be-fastest-growing-economy-even-perform-better-fm-sitharaman-623610.html Mon, 30 Jun 2025 12:14:00 +0530 https://dailyworld.in/market/indias-social-security-coverage-leaps-from-19-pc-to-643-pc-of-population-in-last-10-years-623419.html New Delhi June 28 India has recorded a phenomenal expansion of social security coverage from 19 per cent in 2015 to 643 per cent in 2025 This means that 643 per cent of Indias population comprising 943 crore people are now covered under at least one social protection benefit This unprecedented increase has also been acknowledged by the International Labour Organisation ILO on its ILOSTAT database This 45percentage point jump over ten years marks one of the most significant expansions globallyIn terms of the number of beneficiaries India now ranks second in the world after China in providing social protection to citizensThe Ministry of Labour and Employment is working closely with the ILO for a national social protection data pooling exercise to obtain a holistic picture of social protection coverage in India Under this project encrypted Aadhaar is being used as a unique identifier across 34 major Central schemes such as MGNREGA EPFO ESIC APY and PMPOSHAN to identify unique beneficiariesFinancial inclusion has been at the heart of Indias social security push As of June 18 2025 over 5564 crore people hold Jan Dhan accounts giving them direct access to government benefits and formal banking servicesThe Aadhaar programme has helped create a unique digital identity system As of June 27 2025 over 142 crore Aadhaar cards have been issued This system supports authentication and delivery of benefits to the right person at the right timeThe DBT system has streamlined welfare payments reducing leakages and delays Cumulative savings have reached Rs 348 lakh crore as of March 2023 reflecting its efficiency and scaleMore than 5106 crore people enrolled in PM Suraksha Bima Yojna 2364 crore people in PM Jeevan Jyoti Bima YojnaApart from this over 5135 lakh workers in PM Shram Yogi Mandhan Yojna and more than 3 crore women to be empowered as Lakhpati Didis over 4 crore houses have also been allotted under PM Awas Yojna to uplift the poor the official figures showAs per the ILO social security is the protection that a society provides to individuals and families to ensure access to health care and to guarantee income security It is especially important in times of old age sickness unemployment disability maternity work injury or the loss of a breadwinner Defined in ILO conventions and UN instruments social security is recognised as a basic human rightIndia has a wideranging social security system comprising social insurance and social assistance schemes at both the central and state levels These include welfare payments mandatory social insurance with contributions from the employer and employee and other employerbased benefits In addition to these there are also schemes providing inkind benefits like food health shelter security etcPhase I of this pooling exercise started on 19th March 2025 and includes ten states including Uttar Pradesh Rajasthan Maharashtra Madhya Pradesh Tamil Nadu Odisha Andhra Pradesh Telangana Karnataka and GujaratThis data pooling exercise will not only strengthen Indias global reputation as a social protection pioneer but also facilitate the Central government states and UTs to optimise welfare spending and move closer towards sustainable financing of social protection It will help the states in identifying unique beneficiaries under statespecific social protection schemes IANS https://dailyworld.in/market/indias-social-security-coverage-leaps-from-19-pc-to-643-pc-of-population-in-last-10-years-623419.html Sun, 29 Jun 2025 00:08:00 +0530 https://dailyworld.in/market/yemeni-rial-plunges-to-historic-low-worsening-humanitarian-crisis-623560.html Aden June 29 The Yemeni rial has plummeted to an alltime low of approximately 2760 per US dollar in recent trading sessions marking the currencys steepest depreciation since the outbreak of civil war in 2015 and deepening the suffering of millions already grappling with what the UN calls the worlds worst humanitarian crisis The historic currency collapse has triggered a complete halt in foreign exchange operations at money changers across governmentcontrolled territories during the past weeks as traders fear further deterioration in the absence of immediate intervention measures according to local banking sources Xinhua news agency reported When Yemens conflict erupted in early 2015 the rial traded at approximately 215 per dollar The current exchange rate represents a staggering depreciation of nearly 1200 per cent eroding the purchasing power of ordinary Yemenis and pushing basic necessities beyond the reach of millionsEconomic analysts have linked the rials decline to the Yemeni governments worsening financial crisis especially after the halt in oil export revenues since late 2022The halt resulted from Houthi attacks on oil infrastructure and ports cutting off a vital source of revenue for the cashstrapped administration The Houthis are demanding a comprehensive agreement on oil revenue sharing and the use of those funds for nationwide salary payments an unresolved dispute that continues to deepen the economic crisisThe rials freefall has sparked public demonstrations with dozens of residents taking to the streets in the southern port city of Aden earlier this month demanding immediate government action to halt the currencys decline and implement comprehensive public service reformsHussein Ali a day labourer from the southern port city of Aden is one of the millions in Yemen that is facing the struggleAli who supports a family of six earns between 15000 Yemeni rials approximately 7 dollars daily through construction agricultural or carpentry work In the past a workers salary of 4000 rials could meet all his familys needs Today a daily wage barely covers the cost of one kilogram of rice he saidEvery passing day brings greater hardship Ali lamented When the rial collapses our entire lives collapse with itMohammed AlMahrabi an employee at the Ministry of Education faces similar challenges despite his seemingly stable job My salary cannot cover basic food and drink needs for my children Additionally salary payments are delayed for months and I have accumulated significant debts AlMahrabi saidForced to supplement his income as a taxi driver AlMahrabi now finds even this additional work unprofitable Fuel prices have reached 39000 rials for 20 litres approximately 15 dollars and continue rising My taxi work no longer covers gasoline costs I am exhausted and even extra employment has become meaningless he saidEconomic expert Ramzi Sultan said the ongoing currency value fluctuations are a major driver of worsening living conditions The rials ongoing depreciation reduces real wages fuels inflation and causes widespread shortages of essential goods This destroys consumer confidence and business activity accelerates capital flight and increases poverty and unemployment he explainedSultan attributed the collapse to fundamental imbalances in financial and monetary policy The government is facing declining revenues while its expenditures and obligations keep rising he notedThe problem is worsened by the divided banking system with separate authorities operating in Sanaa and Aden In territories controlled by the Houthi group the dollar trades at approximately 537 rials using older banknotes that suffer from severe liquidity constraintsThis institutional division has weakened the Central Banks control over monetary policy and allowed black market operators to manipulate exchange rates he saidThe currency collapse compounds an already dire humanitarian situation According to United Nations data approximately 80 per cent of Yemens population currently lives below the poverty line with the economic crisis threatening to push millions deeper into destitutionLast week three major UN agencies issued urgent warnings about escalating food insecurity across Yemens southern provinces The Food and Agriculture Organisation World Food Programme and United Nations Childrens Fund jointly reported that nearly 5 million people in southern Yemen face food insecurity with conditions expected to deteriorate further without immediate interventionWithout sustained assistance an additional 420000 people could fall into severe food insecurity between September and February 2026 bringing the total number of severely foodinsecure individuals to 538 million more than half the population in Yemens southern regionsThe agencies identified multiple factors driving this crisis including prolonged economic decline sharp currency depreciation continued conflict and increasingly frequent extreme weather events that disrupt agricultural production and food distribution networksYemens current crisis stems from nearly a decade of devastating conflict that began in late 2014 when the Houthi group seized control of several northern provinces forcing the internationally recognised government to flee the capital SanaaThe conflict escalated significantly in 2015 following the intervention of a Saudiled coalition aimed at restoring the legitimate governmentDespite numerous international mediation efforts and periodic ceasefire agreements a comprehensive and lasting peace settlement remains elusive IANS https://dailyworld.in/market/yemeni-rial-plunges-to-historic-low-worsening-humanitarian-crisis-623560.html Sun, 29 Jun 2025 22:06:00 +0530 https://dailyworld.in/market/govt-extends-cbdt-chairman-ravi-agrawals-tenure-by-a-year-623412.html New Delhi June 28 The government has extended the tenure of Ravi Agrawal as the Chairman of the Central Board of Direct Taxes CBDT by another year The CBDT is the apex policymaking body of the Income Tax Department and its chairman and members are senior Indian Revenue Service officers The Appointments Committee of the Cabinet has approved reappointment of Ravi Agrawal IRS as Chairman Central Board of Direct Taxes on contract basis for a period of one year with effect from July 1 2025 till June 30 2026 or until further orders whichever is earlier the government order statedThe reappointment will be on the usual terms and conditions applicable to reemployed Central government officers in relaxation of the Recruitment RulesAgarwal a 1988 batch Indian Revenue Service IRS officer from the income tax cadre had succeeded Nitin Gupta 1986 batch IRS officer in June 2024 as Chairman of the CBDT He was serving as a member of the CBDT Administration from July 2023 before his appointment as chairmanThe CBDT is headed by a chairman and can have six members who are in the rank of special secretaryMeanwhile CBDT has asked all the principal chief commissioners of Income Tax to exercise effective supervision over their assessing officers and make sure that questions sent by them to a taxpayer are justified and that irrelevant queries are completely avoidedThe apex body has directed Income Tax Department officials to ensure due application of mind while issuing notices for scrutiny and assessment of a taxpayers return emphasising that all queries should be relevant and specificFinance Minister Nirmala Sitharaman earlier this week asked incometax officials to ensure that tax compliance processes are made simpler more transparent and taxpayerfriendlyThe Finance Minister also directed all principal chief commissioners of income tax to prioritise and accelerate the disposal of disputed tax demands that are currently pending before the faceless appellate authorities the finance ministry said in a statementAbout 577000 appeals were pending at the start of the current fiscal year The Central Board of Direct Taxes CBDT is targeting to address more than 225000 appeals in FY 202526 involving over Rs 10 lakh crore of disputed demandThe Finance Minister highlighted that prompt and timebound disposal of taxpayer grievances is essential for ensuring responsive governance IANS https://dailyworld.in/market/govt-extends-cbdt-chairman-ravi-agrawals-tenure-by-a-year-623412.html Sat, 28 Jun 2025 22:17:00 +0530 https://dailyworld.in/market/stock-market-opens-higher-as-trump-indicates-great-trade-deal-with-india-623156.html Mumbai June 27 The Indian benchmark indices opened higher on Friday amid a great IndiaUS trade deal possibility as buying was seen in the PSU bank and IT sectors in the early trade At around 915 am Sensex was trading 15040 points or 018 per cent up at 8390627 while the Nifty added 5450 points or 021 per cent at 25603US President Donald Trump has hinted at a very big trade deal with India weeks after a team of negotiators from the two countries held fourday closeddoor talks on the agreement Addressing the Big Beautiful Event at the White House Trump said he has a great deal with IndiaAccording to analysts news that the July 9th US tariff deadline is likely to be extended is also positive for the market sentimentHigh inflation aggressive monetary tightening by the central banks geopolitical events including some wars and conflicts and unprecedented tariff threats did pose some threats to the rally but the bull market climbed all these walls of worries It appears that the rally is unlikely to be impacted by the approaching July 9th tariff deadline said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdNifty Bank was down 8025 points or 014 per cent at 5712645 in early trade The Nifty Midcap 100 index was trading at 5950565 after adding 27825 points or 047 per cent Nifty Smallcap 100 index was at 1892030 after climbing 11470 points or 061 per centTechnically the inside day pattern from two days ago was proof that a trending move was coming and we got one yesterday with more than 5 stocks advancing for every stock that fell in the Nifty said Akshay Chinchalkar Head of Research Axis SecuritiesThe thrust may have more to go though with the 25700 25800 zone the next immediate upside hurdle and while tactical support at 25000 is holding bulls will be optimistic about getting there and beyond sooner than later he addedMeanwhile in the Sensex pack LampT Tata Steel SBI Tata Motors NTPC and HCL Tech were the top gainers While HDFC Bank Bajaj Finserv Kotak Mahindra Bank and Bajaj Finance were the top losersForeign institutional investors FIIs were net buyers on June 26 purchasing equities worth Rs 1259438 crore Meanwhile domestic institutional investors DIIs remained sellers selling equities worth Rs 19523 croreIn the Asian markets China Bangkok Seoul and Hong Kong were trading in red Whereas Only Japan was trading in greenIn the last trading session Dow Jones in the US closed at 4338684 up 40441 points or 094 per cent The SampP 500 ended with a gain of 4886 points or 080 per cent at 614102 and the Nasdaq closed at 2016791 up 19436 points or 097 per cent IANS https://dailyworld.in/market/stock-market-opens-higher-as-trump-indicates-great-trade-deal-with-india-623156.html Fri, 27 Jun 2025 10:05:00 +0530 https://dailyworld.in/market/stock-market-hits-9-month-high-as-sensex-surges-past-84-000-nifty-nears-25-650-623224.html Mumbai June 27 The Indian stock markets ended on a strong note on Friday with benchmark indices touching a ninemonth high Investors were in a positive mood as tensions in West Asia eased amid reports of a great IndiaUS trade deal possibility thus lifting market confidence and encouraging buying The Sensex climbed 30303 points or 036 per cent to close at 8405890 It traded within a range of 8364541 to 8408935 during the dayThis is the fourth straight session of gains for the benchmark index marking a steady upward trend The Nifty also saw a similar rise gaining 8880 points or 035 per cent to finish the day at 2563780 It moved between 25523 and 25654 in intraday tradeThe Nifty continued to move higher as investor confidence remained strong With no major resistance seen before 2575025800 the index may continue its upward trajectory Rupak De of LKP Securities saidA buyondips strategy appears more appropriate at current levels following the sharp rise over the past few days On the downside support is placed at 25500 a break below this level could lead to consolidation he addedEarlier the Sensex had touched the 84000mark in October 2024 while the Nifty had reached 25639 on October 3 last yearBroader markets followed suit The Nifty Midcap100 index rose 027 per cent while the Nifty Smallcap100 jumped 091 per cent showing that investor interest was strong even beyond largecap stocksExcept for the Nifty Consumer Durables Realty IT and FMCG indices all other sectoral indices on the NSE closed in the greenThe Nifty Oil amp Gas index outperformed both its sectoral peers and the benchmark indices ending 119 per cent higherVolatility also cooled off with the India VIX the fear gauge slipping 160 per cent to settle at 1239This suggests that investors are feeling more confident about market stability in the near term IANS https://dailyworld.in/market/stock-market-hits-9-month-high-as-sensex-surges-past-84-000-nifty-nears-25-650-623224.html Fri, 27 Jun 2025 16:38:00 +0530 https://dailyworld.in/market/sensex-surges-1-000-points-banking-and-heavyweight-stock-gain-623075.html Mumbai June 26 The Indian stock markets closed on a strong note on Thursday with benchmark indices Sensex and Nifty surging over 1 per cent each led by gains in banking and heavyweight stocks The benchmark index reflected strong investor confidence underpinned by the apparent stability of the Middle East ceasefire which has eased concerns over potential supply chain disruptionsThe Sensex jumped 100036 points or 121 per cent to settle at 8375587 During the session the index touched an intraday high of 8381209 and a low of 8281626The Nifty also gained 30425 points or 121 per cent to close at 2554900 It hit an intraday high of 2556530 and a low of 2525990 during the dayNifty has given a decisive move above the recent consolidation on the daily chart indicating growing optimism among traders and investors Rupak De of LKP Securities saidNow that the index has broken above the consolidation zone we continue to maintain our bullish view going forward he addedAmong the Nifty stocks Shriram Finance Tata Steel Bharti Airtel and Hindalco Industries were the top gainers rising between 248 and 369 per centOn the other hand Dr Reddys Laboratories Tech Mahindra Wipro SBI and Hero MotoCorp were the top laggards slipping between 045 and 131 per centIn the broader markets the Nifty Midcap100 and Nifty Smallcap100 indices ended lower falling 059 per cent and 042 per cent respectively indicating some pressure in mid and smallcap stocksBanking stocks also witnessed strong buying The Bank Nifty index touched an intraday high of 5726345 and closed at 5720670 up 103 per centAmong sectoral indices all major indices except Realty IT and Media ended in the greenNifty Metal was the top performer gaining 231 per cent This was followed by gains in Nifty Private Bank Financial Services and Oil amp Gas indices each rising over 1 per centMeanwhile Rupee gained over 33 paise to settle at 8575 buoyed by a sharp drop in the dollar index below the 9700 markFalling crude prices and a weaker dollar provided strong support to the rupee With global risk sentiment improving and the potential for continued fund inflows the rupee may head towards 8525 in the coming days Jateen Trivedi of LKP Securities mentionedGold remained rangebound as dollar index weakness provided support while the Federal Reserves stance of no immediate rate cuts weighed on sentiment Trivedi statedHe added that MCX Gold is expected to trade within a range of Rs 95500 to Rs 98500 in the near term IANS https://dailyworld.in/market/sensex-surges-1-000-points-banking-and-heavyweight-stock-gain-623075.html Thu, 26 Jun 2025 16:51:00 +0530 https://dailyworld.in/market/india-to-outpace-g7-economies-report-622465.html New Delhi June 23 Global capital can no longer overlook Indias structural economic advantages as the nation is poised to significantly outpace G7 economies in growth according to a report released on Monday by wealth management firm Equirus The report identifies strong macro fundamentals policyled capital expenditure a resurgence in rural consumption and structural manufacturing shifts as key longterm drivers of Indias growth in an uncertain global environmentIndia is no longer the worlds fastestgrowing economy just on paper it is structurally better positioned than most G7 nations Thats a seismic shift said Mitesh Shah CEO Equirus Credence Family OfficeThe global macro regime is shifting US growth has been revised down sharply and while India is projected to contribute over 15 per cent to global GDP growth 20252030 traditional 6040 portfolios are breaking down In this new regime strategic asset allocation across geographies and growth cycles isnt optional its the alpha generator he addedIndia is benefiting from structural trends rural FMCG demand outpacing urban 6 per cent vs 28 per cent policyled capex rising 174 per cent and Rs 25 lakh crore liquidity infusion underway the report statesIndias contribution to global GDP growth is significantly outpacing Japan less than 1 per cent and Germany just over 13 per cent the report points outThe report highlights that rural consumption is driving the recovery in the Indian economy FMCG demand in rural India grew 6 per cent outstripping urban markets at 28 per cent The monthly per capita expenditure gap between rural and urban households has narrowed from 84 per cent to 70 per cent over the last decadeThe report challenges the viability of the longstanding 6040 portfolio strategy historically seen as the gold standard for diversified investingIn todays volatile and fragmented global regime strategic asset allocation is no longer optional it is essential for capital preservation and alpha generation the report statesThe report urges investors to adopt a more dynamic and forwardlooking asset allocation approach one that spans geographies sectors and growth cycles With India emerging as a structural outperformer the firm sees the countrys multiengine growth driven by rural consumption capex and supply chain shifts as a compelling opportunity for both capital preservation and longterm alpha generationThe report also highlights global factors reinforcing Indias advantage The Dollar Index DXY has declined approximately 6 per cent from its 2025 peak and crude oil remains stable at 70barrel easing Indias import bill pressureIt further states that while the China 1 narrative is evolving concrete shifts are emerging As multinational firms like Apple diversify away from China shifting iPhone production to India benefits from cost efficiencies lower attrition and geopolitical alignmentThe report also sees a government policyled capex boom boosting Indias growth Central plus state capital expenditure is set to jump 174per cent postelection backed by a Rs 25lakhcrore liquidity infusion via phased CRR cuts the report added IANS https://dailyworld.in/market/india-to-outpace-g7-economies-report-622465.html Mon, 23 Jun 2025 12:46:00 +0530 https://dailyworld.in/market/market-outlook-iran-israel-conflict-crude-oil-prices-fii-activity-to-drive-stock-market-this-week-622350.html New Delhi June 22 The coming week will be crucial for Indian equities with market sentiment likely to be shaped by geopolitical developments crude oil trends and foreign institutional investor FII activity The spotlight is now on the escalating IranIsrael conflict especially after the US launched airstrikes on Irans nuclear facilities marking its direct involvement in the warMarket analysts warn that any further escalation in the conflict could weigh heavily on investor sentimentAccording to Sudeep Shah Head of Technical Research and Derivatives at SBICAP Securities the IranIsrael war is playing a significant role in driving market emotionsCurrently the market is witnessing selective strength as investors reassess the risks of a broader regional conflict he notedCrude oil prices have remained elevated after breaching their 200day EMA last week although momentum has slowed slightlyShah pointed out that persistently high oil prices are stoking fears of inflation and potential supply chain disruptions both of which are key concerns for the market going forwardDespite geopolitical tensions Indian markets ended the past week on a strong note The Nifty surged 159 per cent or 39380 points to close at 2511240 while the Sensex rose by 159 per cent or 128957 points to settle at 8240817This rally was led by the Nifty Private Bank Index which gained 164 per centOther sectoral indices also performed well with Nifty Auto up 151 per cent Nifty IT rising 136 per cent and Nifty Services gaining 148 per centHowever the Nifty Metal and Pharma indices declined more than 15 per cent during the same periodCommenting on the Niftys outlook Shah said Over the last 28 trading sessions the Nifty has largely oscillated between 25222 and 24462 Notably 16 of those sessions saw gapup or gapdown openings indicating continued market volatility This pattern suggests limited opportunities for directional trades in the current environment IANS https://dailyworld.in/market/market-outlook-iran-israel-conflict-crude-oil-prices-fii-activity-to-drive-stock-market-this-week-622350.html Sun, 22 Jun 2025 13:59:00 +0530 https://dailyworld.in/market/indias-urban-headcount-likely-to-surge-by-70-million-in-next-20-years-622083.html New Delhi June 20 India Inc must take up infrastructure building in cities in partnership with municipal corporations as the country is expected to add 70 million new urban residents in the next two decades by 2045 a senior official said on Friday Addressing a CII conference here D Thara Additional Secretary Ministry of Housing and Urban Affairs said that there is a disconnect between Indias economic ambitions and the capacities of its urban local bodies so the private sector needs to be proactively engaged in the urban development of the countryIndia is a rich nation with poor municipalities she remarkedShe was delivering the keynote address at a CII conference on Exploring Urban Dynamics Outlook 2030She said the growing urban population poses challenges and opportunities as the country will see the creation of many more cities calling for a pragmatic revitalisationfirst approach to urban developmentShe underlined the need for targeted interventions to upgrade existing cities backed by significant investment The proposed Urban Challenge Fund she explained is intended to catalyse this transformation with a mix of 25 per cent public sector seed funding 50 per cent market capital and 25 per cent state contribution Its not about building afresh she said Its about fixing what already exists legacy infrastructure greenfield areas and urban governance systemsPrasad Gadkari executive director amp chief strategy officer at NIIF echoed the importance of enabling frameworks to unlock capital A robust pipeline of projects predictable revenue streams and standardised bidding processes are essential he said noting NIIFs readiness to back urban infrastructure initiatives through scalable publicprivate partnershipsAbedalrazq Khalil Practice Manager for Urban and Land at the World Bank placed Indias urbanisation in a global perspective By 2050 800 million people are expected to live in Indian cities Cities must be enablers of growth but many are not yet ready he saidHe further emphasised the need for integrated planning and livability as critical to attracting private investmentTransport integration also featured prominently with the Regional Rapid Transit System RRTS cited as a model for enabling distributed urban employment Insitu slum redevelopment and smallerscale privateled urban initiatives were also discussed as vital components of revitalisation IANS https://dailyworld.in/market/indias-urban-headcount-likely-to-surge-by-70-million-in-next-20-years-622083.html Fri, 20 Jun 2025 16:41:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-higher-amid-positive-asian-cues-622016.html Mumbai June 20 The Indian benchmark indices opened higher on Friday amid positive Asian cues as buying was seen in the PSU bank IT and auto sectors in the early trade At around 925 am Sensex was trading 22815 points or 028 per cent up at 8159002 while the Nifty added 5510 point or 022 per cent at 2484835Nifty Bank was up 10235 points or 018 per cent at 5567980 The Nifty Midcap 100 index was trading at 5714310 after dropping 1685 points or 003 per cent Nifty Smallcap 100 index was at 1795060 after declining 6250 points or 035 per centAccording to analysts Nifty which has been trading within the 2450025000 range for about a month now is likely to remain within this range in the near term The upper side of the range will be broken only on news of deescalation of the IsraelIran conflict or an abrupt end to the warThere is uncertainty on this The lower side of the range is unlikely to break since big buying particularly by domestic institutions will emerge on dips If the war lingers and crude rises beyond 85 the lower band of the range will be broken said Dr VK Vijayakumar Chief Investment Strategist of Geojit Investments LimitedMeanwhile in the Sensex pack Bajaj Finserv UltraTech Cement MampM Eternal SBI Axis Bank and Sun Pharma were the top gainers Whereas IndusInd Bank Bajaj Finance Tech Mahindra Kotak Mahindra Bank and PowerGrid were the top losersThe foreign institutional investors FIIs extended their buying on the third consecutive day on June 19 as they bought equities worth Rs 93462 crore On the other hand domestic institutional investors DIIs also extended their buying as they bought equities of Rs 60597 crore on the same dayIn the Asian markets Bangkok Japan Seoul Hong Kong and China were trading in green while only Jakarta was trading in redThe US stock market was closed on Thursday in observance of Juneteenth National Independence DayIn the last trading session on Wednesday Dow Jones in the US closed at 4217166 down 4414 points or 010 per cent The SampP 500 ended with a loss of 185 points or 003 per cent at 598087 and the Nasdaq closed at 1954627 up 2518 points or 013 per cent IANS https://dailyworld.in/market/indian-stock-market-opens-higher-amid-positive-asian-cues-622016.html Fri, 20 Jun 2025 09:53:00 +0530 https://dailyworld.in/market/indian-stock-market-trades-flat-over-us-fed-policy-decision-621874.html Mumbai June 19 The Indian benchmark indices opened almost flat on Thursday over the US Federal Reserve policy decision and weak Asian cues as selling was seen in the IT PSU bank FMCG and pharma sectors in the early trade At around 934 am Sensex was trading 166 points or 000 per cent marginally up at 8144632 while the Nifty added 990 point or 004 per cent at 2482195Nifty Bank was up 4315 points or 008 per cent at 55587190 The Nifty Midcap 100 index was trading at 5806885 after dropping 4035 points or 007 per cent Nifty Smallcap 100 index was at 1840405 after adding 2560 points or 014 per centAccording to analysts as expected the US Federal Reserve kept interest rates unchanged However in their statement policymakers maintained expectations for two rate cuts this year while a growing minority now anticipates no cuts at allAdditionally the Fed slightly revised its outlook projecting just one quarterpoint cut each in 2026 and 2027 said Mandar Bhojane from Choice BrokingThe 2450025000 range for the Nifty is likely to hold till news from the IsraelIran conflict change for the better or for the worse If news of deescalation of tensions break Nifty will break out of the upper band of the range said expertsIf the news is about escalation of tensions particularly relating to troubles in the strait of Hormuz resulting in sharp spike in crude it would be difficult for Nifty to hold on to the 24500support level So watch out for the developments in West Asia said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedMeanwhile in the Sensex pack Tech Mahindra IndusInd Bank Infosys HCLTech PowerGrid and Tata Steel were the top losers Whereas Titan MampM Kotak Mahindra Bank and Tata Motors were the top gainersForeign institutional investors FIIs were net buyers on June 18 purchasing equities worth Rs 890 crore Domestic institutional investors DIIs also remained buyers investing Rs 1091 crore during the sessionIn the Asian markets Bangkok Japan Seoul Jakarta Hong Kong and China were trading in redUS markets closed on a mixed note on the last trading day following the US Fed Reserve policy decision and Federal Reserve Chairman Jerome Powells speechDow Jones in the US closed at 4217166 down 4414 points or 010 per cent The SampP 500 ended with a loss of 185 points or 003 per cent at 598087 and the Nasdaq closed at 1954627 up 2518 points or 013 per cent IANS https://dailyworld.in/market/indian-stock-market-trades-flat-over-us-fed-policy-decision-621874.html Thu, 19 Jun 2025 10:18:00 +0530 https://dailyworld.in/market/centre-to-launch-special-campaign-to-help-pensioners-from-july-1-621972.html New Delhi June 19 Union Minister of State Independent Charge for the Ministry of Personnel Public Grievances and Pensions Jitendra Singh has released the guidelines for a monthlong Special Campaign 20 which will be carried out from July 1 for the redressal of grievances of family pensioners and super senior pensioners Highlighting the transformational journey of the Ministry of Personnel Public Grievances and Pensions over the past 11 years Jitendra Singh appreciated the initiative of the Department and stressed the importance of timely and qualitative redressal of grievancesThe minister said that the Department of Pension and Pensioners Welfare DOPPW will conduct the monthlong Special Campaign 20 during the period July 131 for the timely and qualitative redressal of grievances of Central government family pensioners and super senior pensionersDoPPW will coordinate the implementation of the campaign A total number of 2210 pension grievances have been taken up and shared with the 51 MinistriesDepartments and organisations of the government for redressal under the campaign with a request to widely disseminate success stories and best practices through Press Information Bureau statements and tweetsThe minister further states that the Centre is committed towards the empowerment of women and the welfare of senior citizens by effective redressal of Central Government pensioners grievancesA preparatory meeting under the chairmanship of the Secretary Pension was held on 11th June 2025 with the Nodal Officers handling pensioners grievancesDOPPW is monitoring the status of the grievances on a daily basis It is seen that the campaign has already gained momentum which is evident from the fact that more than 25 per cent of identified cases have so far been redressedThe hashtag of the campaign is SpecialCampaignFamilyPension20Asof the welfare measures the minister also announced this week that Central government employees covered under the Unified Pension Scheme will now be eligible for retirement and death gratuity benefitsThe minister said that the move addresses a significant demand of government staff and brings parity in retirement benefits The new provision reflects the governments commitment to ensure social security for all categories of employees under the National Pension System IANS https://dailyworld.in/market/centre-to-launch-special-campaign-to-help-pensioners-from-july-1-621972.html Thu, 19 Jun 2025 19:12:00 +0530 https://dailyworld.in/market/garlic-cultivation-in-himachal-expanded-to-4-000-hectares-experts-621985.html Shimla June 19 Garlic cultivation in Himachal Pradeshs Sirmaur district has expanded to around 4000 hectares from 1500 hectares in 201516 with annual production reaching 60000 metric tons agriculture experts said on Thursday At a twoday seminar on Garlic seed production and value addition for enhancing farmers Income in district Sirmaur that commenced at Dr YS Parmar University of Horticulture and Forestry UHF in Nauni in Solan district Department of Seed Science and Technology head Narender Bharat said the university has been implementing the project to propagate spices in the state since 201516 The initiative promotes commercial cultivation of spices like garlic ginger turmeric coriander and fenugreek through onfarm demonstrations seed production technology transfer natural farming practices and infrastructure development for seed storage he said As part of the technology transfer efforts the university organised four panchayatlevel training programmes and one districtlevel seminar every year Highlighting the growing interest in garlic farming Bharat shared that the area under garlic cultivation in Sirmaur has expanded As per estimates nearly Rs 60 crore is spent annually in Sirmaur for procuring garlic seeds from other states particularly Jammu and Kashmir University Vice Chancellor Rajeshwar Singh Chandel said spice cultivation especially garlic which has been declared as the One District One Crop for Sirmaur offers a promising pathway to boost farmers income in the district Highlighting the issues of market glut and falling prices he called upon scientists to equip farmers with skills in food processing and value addition Chandel urged the farmers to collaborate with the university for local seed production of garlic to reduce dependence on external sources and create entrepreneurial opportunities for the youth He also encouraged university researchers to explore garlic oil extraction and the pharmaceutical industrys needs to further enhance farm income He stressed the need to study the use of radiation technology to improve garlics shelf life disease resistance and reduce unwanted sprouting Director Research Sanjeev Chauhan emphasised the need for adopting modern scientific practices to improve the quality and productivity of garlic He advocated reducing input costs to increase farmers profitability and underlined the role of Farmer Producer Companies FPCs in ensuring better market access and collective bargaining for farmers Based on farmer demand key topics such as seed production germplasm conservation plant protection and value addition will be discussed The Department of Food Science and Technology will also conduct handson demonstrations for preparing various valueadded garlic products In addition an exhibitioncumcompetition of local garlic varieties is also being organised for the participating farmers The seminar is being organised by the universitys Department of Seed Science and Technology under the centrallysponsored MIDH scheme on spices Around 100 garlic growers are participating in the programme IANS https://dailyworld.in/market/garlic-cultivation-in-himachal-expanded-to-4-000-hectares-experts-621985.html Thu, 19 Jun 2025 21:00:00 +0530 https://dailyworld.in/market/indian-stock-market-trades-in-green-amid-rising-geopolitical-tensions-621715.html Mumbai June 18 The domestic benchmark indices opened lower on Wednesday amid rising geopolitical tensions but turned green in the early trade as buying was seen in the auto IT and PSU bank sectors At around 932 am Sensex was trading 16049 points or 020 per cent up at 8174379 while the Nifty added 5740 point or 023 per cent at 2491080Nifty Bank was up 33 points or 006 per cent at 5574715 The Nifty Midcap 100 index was trading at 5835895 after dropping 2035 points or 003 per cent Nifty Smallcap 100 index was at 1841280 after declining 755 points or 004 per centAccording to analysts the markets hopes for deescalation in in the Middle East war faded as US President Donald Trump called for Unconditional Surrender from Iran Latest posts by Trump and the US defence movements in West Asia signal aggravation of the conflict said market expertsHowever there is no panic in global equity markets and it appears that the markets assessment is that this conflict will end soon without impacting the global economy added Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedIn the Sensex pack Power Grid Kotak Mahindra Bank Infosys HDFC Bank Axis Bank NTPC and MampM were the top losers Whereas Indusind Bank HCL Tech Sun Pharma Eternal and TCS were the top gainersNifty encountered resistance around the 618 per cent retracement level of the recent decline and it has witnessed a correction from there Yesterdays high of 24982 is the immediate resistance level on the way up On the way down 2455024450 will be a critical support zone said Vikram Kasat HeadAdvisory PL CapitalOn the institutional front foreign institutional investors FIIs were net buyers as they bought equities worth Rs 161619 crore on June 17 while domestic institutional investors DIIs purchased equities worth Rs 779657 croreIn the Asian markets Bangkok Japan and Seoul were trading in green Whereas Jakarta Hong Kong and China were trading in redIn the last trading session Dow Jones in the US closed at 4221580 down 29929 points or 070 per cent The SampP 500 ended with a loss of 5039 points or 084 per cent at 598272 and the Nasdaq closed at 1952109 down 18012 points or 091 per cent IANS https://dailyworld.in/market/indian-stock-market-trades-in-green-amid-rising-geopolitical-tensions-621715.html Wed, 18 Jun 2025 10:09:00 +0530 https://dailyworld.in/market/markets-end-lower-as-mideast-tensions-rising-oil-prices-weigh-on-sentiment-621607.html Mumbai June 17 The Indian stock markets closed lower on Tuesday after a weak trading session as escalating geopolitical tensions and concerns over inflation due to high crude oil prices kept investors on edge The cautious mood came after US President Donald Trump issued a strong warning to Iran saying Tehran should have opted for a nuclear deal with the United States amid the ongoing conflict in the Middle EastBoth the benchmarks opened flat and briefly moved higher but quickly lost momentum as selling pressure intensified through the sessionThe Sensex fell by 21285 points to settle at 8158330 after touching an intraday low of 81427 The Nifty also ended lower by 9310 points closing at 2485340The benchmark equity index experienced moderate losses amid rising risk of an escalation of conflicts in the Middle East ahead of the FOMC meeting said Vinod Nair of Geojit Investments LimitedThis uncertainty pushed Brent crude prices higher an unfavourable development for India given its heavy reliance on oil imports thereby dampening earnings growth Nair addedBroader markets followed suit with the Nifty Midcap100 and Nifty Smallcap100 indices falling 079 per cent and 082 per cent respectivelySectorwise only the IT sector managed to stay in positive territory The rest saw selling across the boardPharma and metal stocks were the biggest losers with the Nifty Pharma index falling by 189 per cent and the metal index down 143 per centOther sectors like consumer durables oil and gas realty auto energy FMCG and media also ended with losses of up to 1 per centOut of the 30 Sensex stocks the biggest drags were Tata Motors Sun Pharma Bajaj Finance IndusInd Bank Bajaj Finserv Eternal and Nestle IndiaOn the positive side Tech Mahindra Infosys Asian Paints Maruti Suzuki NTPC TCS and HCL Tech provided some support to the market with modest gainsSundar Kewat of Ashika Institutional Equity said that rising crude oil prices are fueling inflation worries in India the worlds secondlargest oil importer which also contributed to the negative moodInvestors are now looking ahead to the US Federal Reserves interest rate decision on Wednesday which could have a major impact on global markets and influence investor sentiment going forward Kewat addedMeanwhile rupee traded weak by 018 rupees at 8622 as rising risk sentiment from escalating IsraelIran tensions weighed on the currency IANS https://dailyworld.in/market/markets-end-lower-as-mideast-tensions-rising-oil-prices-weigh-on-sentiment-621607.html Tue, 17 Jun 2025 16:54:00 +0530 https://dailyworld.in/market/haryana-emerges-seventh-largest-in-startups-45-pc-led-by-women-621660.html Chandigarh June 17 IANS Haryana has made strides in the field of innovation and entrepreneurship emerging as the seventh largest state in startups recognised with the Department for Promotion of Industry and Internal Trade DPIITnbspWith over 8800 DPIITrecognised startups the state reflects a vibrant and growing startup ecosystem A particularly encouraging aspect of this growth is the strong presence of women entrepreneurs more than 45 per cent of the startups are led by women This was revealed at a review meeting of the State Startup Ecosystem and Incubator Schemes held under the chairmanship of Chief Secretary Anurag Rastogi on TuesdaynbspThe high percentage of womenled startups indicates the states increasing focus on inclusive development and gender equality in the innovation landscape Haryanas role in the countrys unicorn story is also remarkable Out of the 117 unicorns in India 19 have their origins in HaryananbspnbspThis underlines the states robust business environment easy access to skilled manpower and growing investor interest These factors are positioning Haryana as a key contributor to the national economy through innovationled growth he saidnbspnbspThe state has also built a strong incubation infrastructure to support startups at various stages More than 25 incubators have been established in government and private universities across the stateAdditionally over 10 privatesectorrun incubators and 10 governmentsupported incubators are currently operational offering a wide range of services including mentorship networking opportunities and infrastructural supportnbspMoreover several institutions have expressed interest in setting up new incubation centres which will further strengthen the support system for earlystage startupsnbspnbspOur vision is to build a selfsustaining ecosystem where innovation thrives from the grassroots to a global scale said Rastogi at the meetingnbspBy strengthening our incubators we are not just funding companies we are laying a durable foundation for the next generation of global enterprises to emerge from HaryananbspCommissioner and Secretary Industries and Commerce Amit Kumar Agrawal said the government is now preparing to launch a new set of schemes under the Haryana State Startup Policy of 2022 These schemes aim to provide comprehensive financial and infrastructural assistance to governmentowned governmentsupported and private incubatorsnbspThe schemes include a capital subsidy covering 50 per cent of the capital expenditure up to Rs 2 crore for government host institutions and Rs 1 crore for private onesnbsp https://dailyworld.in/market/haryana-emerges-seventh-largest-in-startups-45-pc-led-by-women-621660.html Tue, 17 Jun 2025 21:09:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-in-green-defies-geopolitical-tensions-621382.html Mumbai June 16 The Indian equity indices opened in the green on Monday despite rising Mideast tensions and there was no panic seen during the early trade At 921 am Sensex was up 26505 points or 033 per cent at 8139652 and Nifty was up 9340 points or 038 per cent at 24812Buying was seen in the midcap and smallcap index Nifty midcap 100 index was up 6545 points or 011 per cent at 5829250 and Nifty smallcap 100 index was up 1715 points or 009 per cent at 1839195According to analysts the uncertainty stemming from the IsraelIran conflict has created a riskoff in global marketsThe safe haven buying is keeping gold firm but dollar continues to be weak Interestingly there is no panic in equity markets said VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedMarkets will be severely impacted only if Iran closes the Strait of Hormuz triggering a huge spike in crude This appears to be a low probability event now he addedOn the sectoral front IT fin service pharma FMCG metal energy infra and PSE were major gainers Auto PSU Bank metal and realty were major losersIn the Sensex pack Power Grid UltraTech Cement LampT HCL Tech Asian Paints Bharti Airtel TCS Infosys NTPC and Tech Mahindra were major gainers Tata Motors Axis Bank Kotak Mahindra Bank Sun Pharma MampM SBI and Maruti Suzuki were major losersGiven the current environment of heightened volatility and uncertainty traders are advised to maintain a cautious approach especially with leveraged positionsPartial profitbooking on rallies and the use of tight trailing stoplosses is recommended said Aakash Shah from Choice BrokingAsian markets were trading in the mixed zone Tokyo Shanghai Seoul and Jakarta were in the green Bangkok and Hong Kong were in the red US market closed in the red on FridayFrom an institutional perspective foreign institutional investors FIIs were net sellers on June 13 offloading equities worth Rs 1263 crore Meanwhile domestic institutional investors DIIs remained supportive purchasing equities worth Rs 3041 croreThe market scenario characterised by sustained retail buying and fund flows into mutual funds will ensure valuations remaining high for an extended period of time Therefore longterm investors can use this riskoff scenario to buy relatively attractively valued stocks like financials said analysts IANS https://dailyworld.in/market/indian-stock-market-opens-in-green-defies-geopolitical-tensions-621382.html Mon, 16 Jun 2025 17:00:00 +0530 https://dailyworld.in/market/indias-wpi-inflation-eases-to-14-month-low-of-039-per-cent-in-may-621408.html New Delhi June 16 Indias annual rate of inflation based on the Wholesale Price Index WPI eased further to a 14month low of 039 per cent in May from 085 per cent in April and 205 per cent in March according to data released by the Ministry of Commerce and Industry on Monday The monthovermonth change in WPI inflation during May stood in the negative zone at 006 per cent as compared to the previous month of April reflecting the declining trend in inflationThere was a decline in prices of food as well as fuels such as petrol and diesel during the month compared to the previous month which resulted in the overall monthonmonth inflation rate turning negativeMeanwhile the countrys inflation rate based on the Consumer Price Index CPI has declined to 282 per cent in May this year compared to the same month of the previous year This is the lowest level of retail inflation since February 2019 figures released last week showedFood Inflation declined to 099 per cent during May which is the lowest since October 2021 This is the seventh month in a row that food inflation has registered a decline as the agricultural output has been on the riseThe RBI has also revised its inflation outlook for 202526 downwards from the earlier forecast of 4 per cent to 37 per cent Reserve Bank Governor Sanjay Malhotra said on FridayThe sharp decline in inflation has enabled the RBI to go in for a 50 basis points cut in the repo rate from 6 per cent to 55 per cent to spur growth in the economy in the monetary policy review last weekThe RBI also announced a 100 basis point cut in the Cash Reserve Ratio CRR from 4 per cent to 3 per cent to be implemented in four tranches of 25 bps each The step is expected to inject Rs 25 lakh crore into the banking system boosting liquidity and supporting credit flowThe RBI Governor pointed out that Inflation has softened significantly over the last six months from above the tolerance band in October 2024 to well below the target with signs of a broadbased moderationThe nearterm and mediumterm outlook now gives us the confidence of not only a durable alignment of headline inflation with the target of 4 per cent as exuded in the last meeting but also the belief that during the year it is likely to undershoot the target at the margin IANS https://dailyworld.in/market/indias-wpi-inflation-eases-to-14-month-low-of-039-per-cent-in-may-621408.html Mon, 16 Jun 2025 17:28:00 +0530 https://dailyworld.in/market/sensex-nifty-rise-nearly-1-pc-despite-rising-mideast-tensions-621415.html Mumbai June 16 IANS The Indian stock markets showed resilience on Monday amid rising tensions between Israel and Irannbsp as investors maintained their focus on longterm fundamentals in the time of volatile situationsnbspBoth Sensex and Nifty ended the day with sharp gains of nearly 1 per cent each showing that investors remained optimistic despite the geopolitical uncertaintynbspThe Sensex jumped 67755 points or 084 per cent to close at 8179615 after touching an intraday high of 8186582nbspSimilarly the Nifty gained 2279 points or 092 per cent to settle at 2494650nbspThe index witnessed a sharp rally as it reclaimed the 21EMA after a brief dip below it said Rupak De of LKP Securities Currently with investors awaiting the Feds followup commentary post the rate announcement a steep directional move is not expected for now he addedHowever a rally towards 25350 looks highly probable once Nifty reclaims the 25000 mark On the downside support is placed at 24850 De mentionednbspThe broader markets also performed well The Nifty Midcap100 rose by 093 per cent while the Nifty Smallcap100 gained 095 per centnbspAll sectoral indices ended in the green The Nifty IT index was the biggest gainer rising 157 per cent followed by Realty 132 per cent Oil and Gas 111 per cent and Metal 107 per centnbspOther sectors like banking energy FMCG pharma and media also closed higher reflecting broadbased buying across the marketnbspAmong the major gainers on the Sensex were Ultratech Cement Tech Mahindra HCL Tech TCS Kotak Mahindra Bank and Infosys with some of them rising up to 24 per centHowever on the flip side Tata Motors was the top loser falling by 376 per cent Sun Pharma also ended lowernbspMeanwhile the India VIX known as the markets fear index which measures expected volatility fell by 16 per cent to settle at 1483 A drop in VIX indicates a calmer market outlook in the short termnbspVinod Nair Head of Research Geojit Investments Limited said that despite ongoing geopolitical tensions between Israel and Iran the market moved higher supported by gains in largecap stocksnbspGeopolitical developments in the Middle East are likely to influence nearterm market sentiment with any signs of deescalation being closely monitored Smallcap stocks are expected to underperform in the short term given their elevated valuations and absence of shortterm triggers he mentioned https://dailyworld.in/market/sensex-nifty-rise-nearly-1-pc-despite-rising-mideast-tensions-621415.html Mon, 16 Jun 2025 17:34:00 +0530 https://dailyworld.in/market/geopolitical-tensions-oil-prices-inflation-data-to-drive-market-sentiment-next-week-621305.html Mumbai June 15 The coming week is expected to be crucial for Indian stock markets as global geopolitical developments crude oil prices the upcoming US Fed policy decision and key domestic economic data are all set to influence investor sentiment One of the biggest factors that could drive global market volatility next week is the ongoing IsraelIran conflictTensions in the Middle East have already had a visible impact on Indian markets in recent sessionsThe US Federal Reserve will hold its policy meeting on June 1718 Investors worldwide including in India will be closely watching the Feds stance on interest rates and inflation which may influence foreign capital flowsOn the domestic front India will release its wholesale inflation WPI and trade balance data for May on June 16 These numbers are expected to guide nearterm market movementLast week Indian equities witnessed a broadbased selloff mainly due to global factorsThe benchmark indices Nifty and Sensex closed over 1 per cent lower at 24718 and 81118 respectivelyThe decline was led by sectors like FMCG realty PSU banks and consumption which all fell by over 2 per centHowever pharma IT and media stocks saw some gains offering partial support to the marketForeign institutional investors FIIs remained net sellers last week offloading shares worth Rs 1246 croreIn contrast domestic institutional investors DIIs were net buyers investing Rs 18637 crore in the cash segmentAccording to Bajaj Broking the Nifty has been consolidating in the 2440025200 range for the past month and is likely to continue in this zone next week as wellHowever if geopolitical tensions escalate further and the index breaks below the lower end of the range it could test the 24000 levelOn the upside the 25000 level continues to act as a key resistance A breakout above this level could potentially signal a pause in the recent downtrend the brokerage firm stated IANS https://dailyworld.in/market/geopolitical-tensions-oil-prices-inflation-data-to-drive-market-sentiment-next-week-621305.html Sun, 15 Jun 2025 14:23:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-in-red-as-israel-iran-tensions-rise-620981.html Mumbai June 13 The Indian benchmark indices opened sharply lower on Friday as tensions escalated between Israel and Iran Heaving selling was seen in the auto IT Financial service and PSU Bank sectors in the early trade At around 933 am Sensex was trading 8965 points or 110 per cent down at 8079544 while the Nifty declined 2785 point or 112 per cent at 2460970Nifty Bank was down 63380 points or 113 per cent at 5544875 The Nifty Midcap 100 index was trading at 5783695 after dropping 60390 points or 103 per cent Nifty Smallcap 100 index was at 1827230 after declining 19275 points or 104 per centAnalysts said that the economic consequences of this Israeli strike can be profound if the attack and counterattack by Iran lingers long Israel has declared that the operation will last several daysThe impact on the market will depend on how long the conflict lingers In the near term the market will be in a riskoff mode Sectors that use oil derivatives as inputs like aviation paints adhesives and tyres will be hit hard Oil producers like ONGC and Oil India will remain resilient explained Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdAccording to analysts the Nifty fell over a percent yesterday as geopolitical tensions in the Middle East showed signs of erupting As of this morning Israel has launched preemptive strikes on Iran and thats led to a broadbased riskoff across marketsTechnically on the Nifty we have been warning that Wednesdays buyer rejection candle immediately occurring after the bearish upside gap two crows pattern earlier in the week was an indication of caution creeping in said Akshay Chinchalkar Head of Research of Axis SecuritiesMeanwhile in the Sensex pack Tata Motors LampT PowerGrid Kotak Mahindra Bank SBI Titan and Infosys were the top losersIn the Asian markets Hong Kong Bangkok Jakarta Japan Seoul and China were trading in redIn the last trading session Dow Jones in the US closed at 4296762 up 10185 points or 024 per cent The SampP 500 ended with a gain of 2302 points or 038 per cent at 604526 and the Nasdaq closed at 1966249 up 4661 points or 024 per centThe foreign institutional investors FIIs extended their selling on the second day as they sold equities worth Rs 383142 crore on June 12 domestic institutional investors DIIs bought equities of Rs 939385 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-in-red-as-israel-iran-tensions-rise-620981.html Fri, 13 Jun 2025 10:05:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-flat-ahead-of-key-inflation-data-620783.html Mumbai June 12 The Indian benchmark indices opened flat on Thursday ahead of key retail inflation data as selling was seen in the auto IT and PSU Bank sectors in the early trade At around 928 am Sensex was trading 6922 points or 008 per cent up at 8258436 while the Nifty added 2365 point or 009 per cent at 2516505Nifty Bank was up 9865 points or 017 per cent at 5655840 The Nifty Midcap 100 index was trading at 5926775 after dropping 12040 points or 020 per cent Nifty Smallcap 100 index was at 1877235 after declining 2640 points or 014 per centAccording to analysts Nifty ended higher yesterday but slipped off its intraday peak Technically yesterdays candle was a doji with a slightly longer upper shadow immediately following the upsidegap two crows pattern so the onus is on bulls to protect 25029 in the neartermIf bears are able to drag the index below the 2498725029 zone a test of the 2480024863 area will become a high probability event said Akshay Chinchalkar Head of Research of Axis SecuritiesMeanwhile in the Sensex pack Asian Paints Sun Pharma Bajaj Finserv Bharti Airtel Bajaj Finance NTPC and HDFC Bank were the top gainers Whereas Infosys Eternal Tata Motors Tech Mahindra HCL Tech Tata Steel and IndusInd Bank were the top losersIn the Asian markets Hong Kong Bangkok Jakarta and Japan were trading in red whereas Seoul and China were trading in greenIn the last trading session Dow Jones in the US closed at 4286577 down 110 points or 000 per cent The SampP 500 ended with a loss of 1657 points or 027 per cent at 602224 and the Nasdaq closed at 1961588 down 9911 points or 050 per centThe recent flattish trend in the market is likely to continue in the nearterm since there are no clear positive triggers that can push the market much higher said expertsThere are reports of a possible agreement between the US and China But the Chinese havent officially confirmed anythingAlso US President Donald Trump has declared that he will be sending letters to trade partners in the next two weeks setting universal tariffs Market participants will be waiting and watching for clarity on this The tariff crisis is not yet over explained Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdOn the institutional front foreign institutional investors FIIs were net sellers as they sold equities worth Rs 44631 crore on June 11 while domestic institutional investors DIIs purchased equities worth Rs 158487 crore IANS https://dailyworld.in/market/indian-stock-market-opens-flat-ahead-of-key-inflation-data-620783.html Thu, 12 Jun 2025 10:03:00 +0530 https://dailyworld.in/market/sensex-ends-in-green-amid-volatility-investors-await-key-macroeconomic-data-620687.html Mumbai June 11 The Indian stock market closed in the green after a volatile session on Wednesday as Sensex rose 12342 points or 015 per cent at 8251514 and Nifty was up 3715 points or 015 per cent at 2514140 Selling was seen in midcap and smallcap stocks The Nifty Midcap 100 index was down 29325 points or 049 per cent at 5938815 and the Nifty smallcap 100 index was down 10105 points or 053 per cent at 1879875On a sectoral basis IT auto pharma realty and energy were the top gainers and PSU Bank financial services FMCG metal and media indices closed in the redHCL Tech Infosys Tech Mahindra Bajaj Finserv Tata Motors Eternal Zomato ICICI Bank UltraTech Cement and Titan were the top gainers in the Sensex pack Power Grid IndusInd Bank Nestle HUL and HDFC Bank were the top losersNifty remained volatile throughout the session reflecting cautious sentiment in the marketCrucial support is placed at 24850 As long as the index holds above this level the trend is likely to remain positive with potential to move towards 25350 in the short term said Rupak De from LKP SecuritiesAccording to analysts profitbooking continues in the broader markets driven by elevated domestic valuations However largecap resilience is supporting the indices with institutional investors favouring companies with stable earnings outlooksThe auto and IT sectors remain in focus auto stocks are gaining on improved monthly sales while IT are benefiting from optimism around a potential USChina trade resolution said Vinod Nair Head of Research Geojit Investments LtdMeanwhile following the recent rally the market lacks clear direction as investors await key macroeconomic data and updates on trade negotiationsUS inflation data is expected to show a slight uptick driven by recent tariff increases he addedMeanwhile the Indian rupee traded positive with gains of 010 at 8544 supported by sustained FII and DII buying activity even as the dollar index remained flat The currency is expected to move within a range of 8525 to 8585 said analysts IANS https://dailyworld.in/market/sensex-ends-in-green-amid-volatility-investors-await-key-macroeconomic-data-620687.html Wed, 11 Jun 2025 17:18:00 +0530 https://dailyworld.in/market/stock-market-ends-in-green-bank-nifty-hits-new-all-time-high-of-57-000-620343.html Mumbai June 9 The Indian stock markets closed in the green on the first trading day of the week as Bank Nifty hit a new alltime high of 57000 on Monday reflecting strong sentiment and momentum in the banking sector The Sensex ended 25622 points or 031 per cent up at 8244521 and Nifty closed 10015 points or 040 percent up at 2510320Midcap and smallcap stocks saw a rise compared to largecaps The Nifty Midcap 100 index was up 66465 points or 113 per cent at 5967495 and the Nifty Smallcap 100 index was up 29095 points or 157 per cent at 1887340On a sectoral basis auto IT PSU banks financial services pharma metal and media indices closed in the green Only the Nifty Realty index closed in the redKotak Mahindra Bank Bajaj Finance Axis Bank Power Grid IndusInd Bank Maruti Suzuki Bajaj Finserv NTPC TCS and Tata Motors were the top gainers in the Sensex pack while Eternal Zomato ICICI Bank Titan MampM and Tata Steel were the top losersFinancial stocks extended their rally in the Indian markets driven by the RBIs supportive aggressive policy of rate and CRR cutThese actions have boosted investor confidence and are expected to enhance liquidity in the near to medium term especially in midcaps The positive US jobs data and renewed optimism over USChina trade talks lifted global sentiment Domestically even large caps expressed renewed momentum led by FIIs inflows said Vinod Nair Head of Research Geojit Investments LimitedNifty Bank clocked a fresh record high of 57049 setting the milestone and confirming a decisive breakout from its monthlong ascending triangle formationThis upward breach follows multiple failed attempts and finally clears the previous congestion zone with conviction said Om Mehra from Samco SecuritiesAccording to analysts the index remains firmly positioned above all key moving averages The daily Relative Strength Index RSI stands at 69 while the weekly RSI is at 68 reflecting sustained strength without entering overbought territory The recent bullish divergence on the RSI lends further credibility to the move IANS https://dailyworld.in/market/stock-market-ends-in-green-bank-nifty-hits-new-all-time-high-of-57-000-620343.html Mon, 09 Jun 2025 17:07:00 +0530 https://dailyworld.in/market/inflation-data-us-tariffs-and-global-economic-factors-to-drive-market-direction-next-week-620177.html Mumbai June 8 The coming week is expected to be pivotal for the Indian stock markets as key economic triggers line up including domestic inflation data updates on US tariffs and global economic indicators The government will release Indias inflation data on June 12 a crucial factor that significantly influences overall economic sentiment and market behaviourIn April retail inflation stood at 316 per cent Any deviation from expectations in the upcoming data could sway market trendsOn the global front any developments regarding US trade tariffs will also be closely watched as they have the potential to impact global trade flows and investor sentimentLast week the Indian stock markets saw a strong rebound after two weeks of declines The Nifty gained 252 points or 102 per cent to close at 2500305 while the Sensex rose 73798 points or 091 per cent to end at 8218899The rally was led by banking stocks with the Nifty Bank index climbing over 15 per cent to close at 5657840 also touching a new alltime high of 56695 during the weekAmong sectoral indices the Nifty Realty index surged 95 per cent between June 2 and 6 while the media and IT sectors ended in the redOn the institutional side foreign institutional investors FIIs remained net sellers offloading equities worth Rs 3565 crore during the weekIn contrast domestic institutional investors DIIs infused Rs 25513 crore into the cash segment reflecting strong domestic confidencePuneet Singhania Director at Master Trust Group noted that the Nifty has managed to close above the 25000 level after two weeks of weakness and is now trading above both its 21day and 55day moving averagesAccording to him the index has support near 24700 while on the upside 25250 and 25600 are key resistance levels to watch IANS https://dailyworld.in/market/inflation-data-us-tariffs-and-global-economic-factors-to-drive-market-direction-next-week-620177.html Sun, 08 Jun 2025 18:20:00 +0530 https://dailyworld.in/market/sensex-nifty-open-flat-as-investors-await-rbis-repo-rate-decision-619844.html Mumbai June 6 The domestic benchmark indices opened flat on Friday ahead of the key RBI monetary policy committee MPC decision on the repo rate as buying was seen in the IT and PSU bank sectors in the early trade In todays monetary policy the RBI is likely to cut policy rates by 25 bps which has already been factored in by the stock marketAt around 923 am Sensex was trading 8243 points or 010 per cent down at 8135961 while the Nifty declined 770 point or 003 per cent at 2474320Nifty Bank was up 485 points or 001 per cent at 5576570 The Nifty Midcap 100 index was trading at 5844925 after rising 14625 points or 025 per cent Nifty Smallcap 100 index was at 1849810 after climbing 6550 points or 036 per centAccording to analysts more important will be the RBI commentary on growth and inflation projections for FY26If the inflation forecast is cut from 4 per cent the market would respond positively said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdAccording to analysts Nifty is likely to find immediate support at 24500 followed by 24400 and 24300 On the upside resistance is expected at 24850 then 24900 and finally the psychological mark of 25000A breach below 24500 could trigger further selling pressure while a breakout above 25000 may open up room for fresh highs said Mandar Bhojane Equity Research Analyst of Choice BrokingIndia VIX declined by 421 per cent to 1508 suggesting that the market is pricing in lower volatility in the near term However with the RBI policy due traders should remain cautious as volatility may spike depending on the central banks tone and rate outlook he addedMeanwhile in the Sensex pack Bajaj Finserv Tata Steel IndusInd Bank Eternal ITC NTPC and Titan were the top gainers Whereas Tata Motors Bajaj Finance ICICI Bank HDFC Bank and SBI were the top losersIn the Asian markets Hong Kong China and Bangkok were trading in red Whereas Only Japan was trading in greenIn the last trading session Dow Jones in the US closed at 4231974 down 108 points or 025 per cent The SampP 500 ended with a loss of 3151 points or 053 per cent at 593930 and the Nasdaq closed at 1929845 down 16204 points or 083 per centIn terms of institutional activity foreign Institutional Investors FIIs were net sellers offloading equities worth Rs 20847 crore on June 5 In contrast domestic institutional investors DIIs remained strong buyers with net purchases worth Rs 238240 crore which provided support to the market IANS https://dailyworld.in/market/sensex-nifty-open-flat-as-investors-await-rbis-repo-rate-decision-619844.html Fri, 06 Jun 2025 09:46:00 +0530 https://dailyworld.in/market/market-cheers-rbis-mega-decisions-nifty-closes-above-25-000-619969.html Mumbai June 6 The domestic benchmark indices surged on Friday after the Reserve Bank of India RBI reduced repo rate by 50 basis points to 550 per cent and cash reserve ratio CRR by 100 basis points in four tranches Sensex gained 74695 points or 092 per cent at 8218899 and the Nifty rose 25215 points or 102 percent to close at 2500305The rise was led by banking stocks Nifty Bank closed at 5657840 up 81755 points or 147 per cent During the day Bank Nifty touched the level of 56695 which is the highest level of the main banking index so farAlong with largecaps midcaps and smallcaps also witnessed a rise The Nifty Midcap 100 index was up 70730 points or 121 per cent at 5901030 and the Nifty Smallcap 100 index was up 14985 points or 081 per cent at 1858245Rupak De from LKP Securities said the stock index has moved up sharply following a bazooka policy move by the RBIIt closed above the 25000mark after several sessions indicating a surge in optimism among market participants Typically a rally followed by consolidation often results in an upward breakout and this time too we expect Nifty to break out above the recent consolidation range De notedThe tremendous rate cut and liquidity boost via the CRR cut is expected to facilitate swift transmission of lower rates reinforcing RBIs strong commitment to fostering economic growth boosting investment and stimulating consumptionRatesensitive sectors including banking real estate automobiles and consumer durables are leading the rally said expertsGoing forward the impact of the rate cut is expected to continue influencing market sentimentRatesensitive pack along with select themes like railways are likely to stay in focus while other sectors may contribute on a rotational basis We continue to recommend a buy on dips strategy with an emphasis on selective stock picking said Ajit Mishra from Religare Broking Ltd IANS https://dailyworld.in/market/market-cheers-rbis-mega-decisions-nifty-closes-above-25-000-619969.html Fri, 06 Jun 2025 16:41:00 +0530 https://dailyworld.in/market/sensex-nifty-end-in-green-ahead-of-rbi-mpc-decision-619726.html Mumbai June 5 IANS The Indian stock market closed in the green on Thursday ahead of the key RBI monetary policy committee MPC decision on the repo ratenbspAt the end of trading the Sensex was up 44379 points or 055 per cent at 8144204 and the Nifty gained 13070 points or 053 per cent at 2475090nbspOn Friday the MPC decisions will be announced by RBI Governor Sanjay Malhotra and according to experts the Central Bank is likely to cut the repo rate by 025 per centnbspMeanwhile along with largecaps midcaps and smallcaps also saw a rise The Nifty Midcap 100 index was up 37835 points or 065 per cent at 58303 and the Nifty Smallcap 100 index rose 17550 points or 096 per cent at 1843260On a sectoral basis IT financial services pharma FMCG metals realty and energy ended in the green and auto PSU banks media and private banks ended in the rednbspAccording to Sundar Kewat from Ashika Institutional Equity Nifty traded in a volatile range as participants remained cautious ahead of the RBIs monetary policy decisionnbspEasing US treasury yields and a weakening US dollar provided some support to Indian equities although global sentiment remains cautious amid persistent USChina trade tensions he mentionednbspAccording to analysts a golden crossover is visible on the daily chart indicating the potential for a strong uptrend in the short termSupport continues to hold at 24500 unless the Nifty breaks below this level a serious correction is unlikely On the contrary a steady or even sharp recovery appears possible in the near term said Rupak De from LKP SecuritiesnbspThe Indian rupee appreciated driven by a rebound in risk sentiment and foreign fund inflows The currency also benefited from the general strength observed across other regional currenciesnbspLooking ahead market participants are pricing in another interest rate cut from the RBI buoyed by stable inflation figures The rupees future trajectory will largely depend on the RBIs upcoming policy stance and any liquidity measures it introduces said Dilip Parmar from HDFC Securities https://dailyworld.in/market/sensex-nifty-end-in-green-ahead-of-rbi-mpc-decision-619726.html Thu, 05 Jun 2025 16:23:00 +0530 https://dailyworld.in/market/sensex-nifty-open-a-tad-lower-amid-consolidation-phase-619285.html Mumbai June 3 Indian equity indices opened a tad lower on Tuesday as heavyweights like LampT and Bajaj Finance were trading in the red At 924 am Sensex was down 152 points or 019 per cent at 8122139 and Nifty was down 3640 points or 016 per cent at 2468040Buying was seen in the midcap and smallcap stocks Nifty midcap 100 index was up 16785 points or 029 per cent at 5794340 and Nifty smallcap 100 index was up 10785 points or 060 per cent at 1820205On the Sectoral front auto PSU Bank pharma metal realty media were major gainers Financial services FMCG and energy and pvt bank were major losersAccording to analysts after a flat opening Nifty can find support at 24700 followed by 24600 and 24500 On the higher side 24800 can be an immediate resistance followed by 24900 and 25000In the Sensex pack Eternal Zomato Tata Steel MampM IndusInd Bank Tata Motors and Asian Paints were major gainers LampT Bajaj Finance Bharti Airtel HUL ICICI Bank Axis Bank Maruti Suzuki were major losersMost of the Asian markets were trading in the green Tokyo Shanghai Jakarta and Hong Kong were top contributorsAnalysts said that during a consolidation phase where the market moves within a range buy on dips is the ideal strategyAnd this strategy is working well now With a lot of uncertainty in geopolitics tariffs and trade the market will continue to remain volatile Therefore investors may persist with the strategy of buying on dips said VK Vijayakumar Chief Investment Strategist Geojit Investments LimitedMeanwhile foreign institutional investors FIIs extended their selling for a second consecutive session on June 2 as they sold equities worth Rs 2589 crore while domestic institutional investors DIIs extended their buying on the tenth day as they bought equities of Rs 5313 crore on the same day IANS https://dailyworld.in/market/sensex-nifty-open-a-tad-lower-amid-consolidation-phase-619285.html Tue, 03 Jun 2025 10:27:00 +0530 https://dailyworld.in/market/nifty-bank-hits-record-high-crosses-56-000-for-1st-time-ahead-of-rbi-mpc-619323.html Mumbai June 3 The Nifty Bank index touched a record high of 5616140 on Tuesday morning crossing the 56000 mark for the first time ever The surge was driven by strong buying in select banks as investors showed optimism ahead of a possible interest rate cut by the Reserve Bank of India RBI later this weekHowever the early gains didnt last By midmorning the index had slipped slightly down 01 per cent as some investors booked profits and heavyweight banks showed weaknessMajor lenders like ICICI Bank Axis Bank and Kotak Mahindra Bank dragged the index lower falling up to 09 per centIn contrast smaller banks like AU Small Finance Bank Federal Bank Punjab National Bank HDFC Bank and IndusInd Bank saw gains between 04 per cent and 12 per centDespite the pullback the Nifty Bank index is still one of the topperforming indices in 2025 It has gained 10 per cent since the start of the year and is up 15 per cent from its 52week lowOver the past 12 months it has delivered a return of 97 per cent The market is now focused on the RBIs upcoming policy decision on June 6Many analysts expect the central bank to cut the key lending rate or repo rate by another 25 basis pointsUnder Governor Sanjay Malhotra the RBI has already cut rates twice this year reducing the repo rate from 65 per cent to 6 per cent Experts believe the conditions are right for further easingAdding to market optimism Indias economy grew by 74 per cent in the March quarter Q4 of FY25 the strongest growth of the yearThe overall GDP growth for FY25 stood at 65 per cent confirming Indias position as the fastestgrowing major economy in the worldMeanwhile both the Indian equity indices Sensex and Nifty opened a tad lower on Tuesday as heavyweights like LampT and Bajaj Finance were trading in the red IANS https://dailyworld.in/market/nifty-bank-hits-record-high-crosses-56-000-for-1st-time-ahead-of-rbi-mpc-619323.html Tue, 03 Jun 2025 14:24:00 +0530 https://dailyworld.in/market/stock-market-ends-lower-on-3rd-consecutive-trading-day-as-weak-global-cues-continue-619381.html Mumbai June 3 The Indian stock market closed in the red on Tuesday the third consecutive trading session when the domestic indices witnessed a decline amid weak global cues Sensex ended 63624 points or 078 percent down at 8073751 while the Nifty was down 17410 points or 070 percent at 2454250On a sectoral basis IT PSU Bank Financial Services FMCG and Energy were the biggest laggardsMidcap and Smallcap performed better than Largecap The Nifty Smallcap 100 index was up 1860 points or 010 per cent at 18114 and the Nifty Midcap 100 index was down 25845 points or 045 per cent at 57517Markets edged lower in a volatile trading session losing over half a per cent amid weak cuesAfter an initial uptick the Nifty oscillated sharply in early trade however a sharp decline below the shortterm moving average 20 DEMA in the latter half of the session kept the tone negative said Ajit Mishra from Religare Broking LtdThe ongoing foreign fund outflows coupled with weak global cues such as geopolitical tensions and uncertainty over trade deals are adding pressure to the markets said analystsHowever the relatively stronger performance in the banking space could help limit the pace of decline they addedIt also appears that investors are awaiting a decisive commentary following the RBIs interest rate decision later this weekMeanwhile the Indian rupee erased Mondays gains amid riskaverse sentiments a rebound in the US dollar and foreign fund outflowsIn the near term the spot USDINR is expected to trade between 8510 and 8590 said Dilip Parmar from HDFC SecuritiesGold remained largely flat near Rs 97700 after yesterdays sharp rally of nearly Rs 2000 touching Rs 98000 on MCX The market is now consolidating ahead of key US economic releases said experts IANS https://dailyworld.in/market/stock-market-ends-lower-on-3rd-consecutive-trading-day-as-weak-global-cues-continue-619381.html Tue, 03 Jun 2025 17:26:00 +0530 https://dailyworld.in/market/nifty-bank-hits-record-high-of-56-16140-ahead-of-rbi-mpc-619384.html Mumbai June 3 The Nifty Bank index touched a record high of 5616140 on Tuesday ahead of the crucial RBI MPC meeting The surge was driven by strong buying in select banks as investors showed optimism ahead of a possible interest rate cut by the Reserve Bank of India RBI later this weekHowever the early gains didnt last By midmorning the index had slipped slightly down 01 per cent as some investors booked profits and heavyweight banks showed weaknessMajor lenders like ICICI Bank Axis Bank and Kotak Mahindra Bank dragged the index lower falling up to 09 per centIn contrast smaller banks like AU Small Finance Bank Federal Bank Punjab National Bank HDFC Bank and IndusInd Bank saw gains between 04 per cent and 12 per centDespite the pullback the Nifty Bank index is still one of the topperforming indices in 2025 It has gained 10 per cent since the start of the year and is up 15 per cent from its 52week lowOver the past 12 months it has delivered a return of 97 per cent The market is now focused on the RBIs upcoming policy decision on June 6Many analysts expect the central bank to cut the key lending rate or repo rate by another 25 basis pointsUnder Governor Sanjay Malhotra the RBI has already cut rates twice this year reducing the repo rate from 65 per cent to 6 per cent Experts believe the conditions are right for further easingAdding to market optimism Indias economy grew by 74 per cent in the March quarter Q4 of FY25 the strongest growth of the yearThe overall GDP growth for FY25 stood at 65 per cent confirming Indias position as the fastestgrowing major economy in the worldMeanwhile both the Indian equity indices Sensex and Nifty opened a tad lower on Tuesday as heavyweights like LampT and Bajaj Finance were trading in the red IANS https://dailyworld.in/market/nifty-bank-hits-record-high-of-56-16140-ahead-of-rbi-mpc-619384.html Tue, 03 Jun 2025 17:28:00 +0530 https://dailyworld.in/market/adani-stocks-defy-wsj-report-market-shrugs-off-allegations-amid-groups-resilience-619424.html Mumbai June 3 IANS Investors on Tuesday largely ignored a recent Wall Street Journal WSJ report alleging new US prosecution scrutiny over Adanis potential Iran sanctions violations Adani Group stocks demonstrated resilience with the groups market capitalisation down a mere 18 per cent against the broader Niftys 07 per cent dipnbspAdani Enterprises saw a 19 per cent decline while ACC fell just 03 per centnbspThe Adani Group swiftly dismissed the report as baseless and mischievous Analysts suggest the market is increasingly discounting such external pressures viewing them as targeted attacks on Adanis crucial role in Indias energy securityDespite a series of negative campaigns from global media shortsellers and regulatory bodies Adanis performance and investment plans remain unimpacted The group continues to attract global investor interestnbspOver the past two years Adani Group has achieved over 25 per cent profit growth and invested Rs 175 lakh crore 21 billion even amidst volatility This expansion has been coupled with significant debt reduction bringing its net debt to EBITDA to a low 25x among the best globally for infrastructurePrevious major challenges including the January 2023 Hindenburg Research report and a November 2024 US Department of Justice indictment preceding green energy fundraising similarly failed to disrupt the groupnbspIts notable that the WSJ reporter Ben Foldy has publicly expressed interest in writing a book on Hindenburg Research and has previously helped amplify their targets Hindenburg itself has a history of targeting green energy companies including AdaninbspThe markets sustained confidence in Adani underscores its strong fundamentals strategic importance to India and proven ability to overcome external challenges https://dailyworld.in/market/adani-stocks-defy-wsj-report-market-shrugs-off-allegations-amid-groups-resilience-619424.html Tue, 03 Jun 2025 20:14:00 +0530 https://dailyworld.in/market/rbi-mpc-pmi-data-fii-activity-global-economic-indicators-to-drive-stock-market-next-week-618995.html Mumbai June 1 The coming week is expected to be a crucial one for the Indian stock markets with key domestic and global factors set to influence market sentiment These include the Reserve Bank of Indias RBI Monetary Policy Committee MPC meeting the Purchasing Managers Index PMI data Foreign Institutional Investors FII activity and important global economic indicatorsOn the domestic front the SampP Global Manufacturing PMI data for India which will offer insights into the health of the countrys manufacturing sector is scheduled to be released on June 2The RBIs threeday MPC meeting will begin on June 4 with the outcome to be announced by the RBI Governor on June 6The committees decision on interest rates will be a major trigger for the markets According to research by Bajaj Broking globally the US is also expected to release its PMI data on June 2Additionally key data on nonfarm payrolls and unemployment figures for May are expected from the US government on June 6 which could impact global investor sentimentIn the trading week from May 26 to May 30 Indian markets witnessed a consolidation The Nifty and Sensex dropped by around 040 per cent ending at 24750 and 81451 respectivelyDespite the decline in benchmark indices the Nifty Bank index managed to close 063 per cent higher led by a strong performance in PSU bank stocks which rose nearly 4 per centOn the other hand FMCG stocks faced selling pressure causing the Nifty FMCG index to fall by about 2 per centForeign institutional investors FIIs were net sellers in the cash segment last week offloading stocks worth approximately Rs 418 croreIn contrast domestic institutional investors DIIs invested over Rs 33000 crore during the same periodPuneet Singhania Director at Master Trust Group noted that the Nifty ended in the red for the second consecutive week and has now dropped below the 25000 mark However the index remains above its 21day moving averageHe added that 24500 remains a strong support level for the Nifty A breach below this could take the index down to around 24200 On the upside 25000 will act as a significant resistance level IANS https://dailyworld.in/market/rbi-mpc-pmi-data-fii-activity-global-economic-indicators-to-drive-stock-market-next-week-618995.html Sun, 01 Jun 2025 14:21:00 +0530 https://dailyworld.in/market/indian-bond-market-shines-amid-falling-inflation-jefferies-618920.html Mumbai May 31 The Indian bond market is showing strong performance as inflation continues to ease and expectations grow for further interest rate cuts by the Reserve Bank of India RBI according to a report by Jefferies Inflation in India has been coming down steadily Over the last financial year average inflation was 46 per cent and in April 2025 it dropped to just 32 per cent the lowest level since July 2019This has given the RBI more flexibility to cut interest rates to support economic growth So far the central bank has already reduced policy rates by 50 basis points and Jefferies predicts another 75 basis points of cuts by the end of 2025These developments have made Indian government bonds more attractive especially to longterm investorsIn comparison to bonds from developed markets like the US Indian bonds are currently offering better returns the report saidSince April 2020 Indias 10year government bond which is denominated in rupees has outperformed the US 10year Treasury bond by 51 per cent in US dollar termsJefferies noted that it is no longer unrealistic to think that the yield on Indias 10year bond might fall below that of the US 10year Treasury bondThe strength of the Indian rupee and the solid performance of emerging market bonds are also boosting investor confidenceOne global sovereign bond portfolio that Jefferies tracks now has Indias 15year bond as its largest holding making up 25 per cent of the portfolioThe bond currently yields 638 per cent reflecting continued faith in Indias fixedincome market as investors begin shifting away from G7 government debtJefferies added that Indian bonds are continuing to outperform G7 government bonds which could signal a broader shift in the global financial system away from traditional powerhouses like the US and EuropeWith inflation falling and real interest rates still attractive Indias bond market appears well placed to benefit from both domestic rate cuts and growing global interest in emerging market debt the report addedFor international investors looking to move away from the volatility of G7 bonds India stands out as a promising option offering high yields a stable economy and the possibility of currency gains the report mentioned IANS https://dailyworld.in/market/indian-bond-market-shines-amid-falling-inflation-jefferies-618920.html Sat, 31 May 2025 21:48:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-flat-amid-stable-institutional-investments-618604.html Mumbai May 30 The domestic benchmark indices opened flat on Friday amid negative Asian cues as selling was seen in the IT and auto sectors in the early trade Stable institutional flows both FII and DII are keeping the market steady even in the absence of positive triggers The ongoing consolidation phase is likely to continue in the nearterm according to analystsAt around 929 am Sensex was trading 1177 points or 001 per cent up at 8164479 while the Nifty added 1320 point or 005 per cent at 2484680Nifty Bank was up 8120 points or 015 per cent at 5562725 The Nifty Midcap 100 index was trading at 5770765 after rising 25040 points or 044 per cent Nifty Smallcap 100 index was at 1792715 after climbing 3775 points or 021 per centAccording to analysts the Nifty posted a smart recovery in the final minutes of trading on Thursday after spending most of the first half in the redAlthough the Nifty is still caught in a sideways market defined by the 24462 and 25116 range yesterdays rebound traced a long lower shadow and a small real body that was closer to the days high and thats a bullish sign Immediate support and resistance lie at 24677 and 25000 respectively said Akshay Chinchalkar Head of Research at Axis SecuritiesMeanwhile in the Sensex pack Infosys Tech Mahindra HCL Tech Bajaj Finance IndusInd Bank Bharti Airtel Titan and Hindustan Unilever Limited were the top losers Whereas Adani Ports Eternal Maruti Suzuki and Sun Pharma were the top gainersIn the Asian markets Hong Kong Bangkok Seoul China and Japan were trading in the redIn the last trading session Dow Jones in the US closed at 4221573 up 11703 points or 028 per cent The SampP 500 ended with a gain of 2362 points or 040 per cent at 591217 and the Nasdaq closed at 1917587 up 7493 points or 039 per centInvestors should understand two distinct big trends that will weigh on markets One Indias macros are strong and improving Two this positive trend in macros is not getting reflected in corporate earnings said Dr VK Vijayakumar Chief Investment Strategist Geojit Investments LtdThis is the fundamental reason for the rangebound movement of the marketOn the institutional front foreign institutional investors FIIs were net buyers as they bought equities worth 88403 crore on May 29 while domestic institutional investors DIIs purchased equities worth 428650 croreAccording to market watchers steadily improving macros like resilient GDP growth down trending inflation and interest rates and declining fiscal and current account deficits lay the foundation for a strong economy and earnings recovery in the medium term IANS https://dailyworld.in/market/indian-stock-market-opens-flat-amid-stable-institutional-investments-618604.html Fri, 30 May 2025 09:56:00 +0530 https://dailyworld.in/market/stock-market-ends-lower-ahead-of-key-gdp-data-618720.html Mumbai May 30 The Indian stock market closed lower in Fridays trading session At the end of trading the Sensex was down 18201 points or 022 per cent at 8145101 while the Nifty was down 829 points or 033 per cent at 2475070 Midcap and smallcap closed almost flat The Nifty Midcap 100 index closed down 3725 points at 5742000 and the Nifty Smallcap 100 index closed down 610 points at 1788330Metal and IT stocks led the decline Nifty Metal index closed down by 169 per cent and Nifty IT index down by 115 per cent Apart from this auto pharma and FMCG sectors also saw a decline Only PSU bank financial services and media indices closed in the greenThe Nifty remained volatile with a slightly negative bias on the first day of the June series On the smaller time frame the index has formed a bearish moving average crossoverThe RSI on the hourly chart indicates bearish price momentum suggesting shortterm weakness Additionally signs of exhaustion are visible on the daily RSI accompanied by a strong negative divergence said Rupak De Senior Technical Analyst at LKP SecuritiesHowever Nifty has been struggling to move beyond a certain level Immediate support is placed at 24700 a breach below this level could lead to a decline towards 24500 On the higher side 24800 is likely to act as a crucial resistance as call writers have built significant positions at that levelThe impact of GDP figures will be seen on the market in coming trading sessions said analystsA rangebound movement continued in the market with the temporary reinstatement of US tariffs by the appeal court influencing investors to stay sidelinedThe global market may contend with macroeconomic concerns as the global trade landscape has yet to see stability which may navigate a shortterm consolidation Meanwhile FII inflows continued due to the volatility in the US 10year yield and an expectation of solid domestic Q4 GDP data later today and a rate cut by RBI said Vinod Nair Head of Research Geojit Investments LimitedRupee traded weak by 8 paise at 8552 as the dollar index gained 025 per cent to 9946 IANS https://dailyworld.in/market/stock-market-ends-lower-ahead-of-key-gdp-data-618720.html Fri, 30 May 2025 16:54:00 +0530 https://dailyworld.in/market/india-clocks-65-pc-gdp-growth-in-2024-25-q4-growth-surges-to-74-pc-618729.html New Delhi May 30 IANS Indias GDP growth accelerated to a robust 74 per cent in the fourth quarter of 202425 as result of which the growth rate for the full financial year works out to 65 per cent on the back of a strong performance of the agriculture construction and services sectors official data released on Friday showednbspThe agriculture sector recorded a 46 per cent growth rate during 202425 up from 27 per cent in 202324 when an erratic monsoon had damaged crops During Q4 FY 202425 the growth rate of the agriculture sector jumped to 5 per cent compared to 08 per cent in Q4 of the previous financial year figures compiled by the Ministry of Statistics showedThe construction sector is estimated to have registered an impressive growth rate of 94 per cent in FY 202425 followed by 89 per cent growth rate in the Public Administration Defence ampamp Other Services sector while the Financial Real Estate ampamp Professional Services sector posted a 72 per cent growth for the financial yearnbspDuring Q4 of FY 202425 the construction sector recorded a doubledigit growth of 108 per cent followed by an 87 per cent growth rate in the public administration defence ampamp other services sector The financial real estate ampamp professional services sector registered a growth of 78 per cent in the fourth quarterReflecting the strong demand in the economy private final consumption expenditure recorded a 72 per cent growth rate in FY 202425 as compared to a 56 per cent growth rate in the previous financial year This was driven in large measure by rural demand for goods and services shooting up due to higher incomes in the agriculture sectorApart from the strong performance of the agriculture sector the massive investments by the government in big ticket infrastructure projects such the highways railways ports and airports have helped to drive up the growth rate as India continues to be the fastest growing economy amid the global slowdownnbspThe IMF has forecast India to be the only economy that is expected to clock an over 6 per cent growth rate in 202526 as the US tariff turmoil is expected to disrupt world trade and slow down the growth of the global economy https://dailyworld.in/market/india-clocks-65-pc-gdp-growth-in-2024-25-q4-growth-surges-to-74-pc-618729.html Fri, 30 May 2025 17:38:00 +0530 https://dailyworld.in/market/swiggy-shares-plunge-41-pc-trade-below-ipo-price-618519.html Mumbai May 29 Swiggys stock has taken a sharp hit in 2025 falling by 41 per cent so far this year and trading below its IPO listing price since February 6 The drop reflects growing investor concerns over widening losses rising competition and uncertainty around the companys path to profitabilityIn the JanuaryMarch quarter Q4 of FY25 Swiggy reported a net loss of Rs 1081 crore a significant downward slide from Rs 799 crore in the same period last fiscalThis widened quarterly loss came despite an increase in order volumes and rising revenue as heavy investments in its quick commerce segment continue to weigh on overall performanceThe companys annual losses also surged reaching Rs 3116 crore in FY25 up 35 per cent from Rs 2350 crore in FY24 according to its latest regulatory filingsAdjusted EBITDA loss stood at Rs 732 crore for the March quarter driven by aggressive growth spending in Swiggys quick commerce business particularly through InstamartWhile Swiggys revenue rose to Rs 5609 crore in the March quarter up from Rs 3668 crore a year ago analysts remain concerned about the companys ability to control cash burn and turn a profitCompetitors like Zomato through its Blinkit arm have ramped up their presence in the quick commerce space putting additional pressure on Swiggys marginsSwiggy CEO Sriharsha Majety defended the companys performance calling FY25 a year of many firsts highlighting the launch of new apps like Instamart Snacc and PyngHe noted Our food delivery engine delivered bestever results across innovation and execution driving categoryleading growth and rising profitability in lockstepHe also said the outofhome consumption business became profitable in Q4Despite these positive developments the market remains sceptical Swiggy has not regained momentum postIPO and has spent nearly four months trading below its debut priceBrokerages note that while the core food delivery segment remains stable the quick commerce division though fastgrowing continues to be the main drag on profitability IANS https://dailyworld.in/market/swiggy-shares-plunge-41-pc-trade-below-ipo-price-618519.html Thu, 29 May 2025 13:48:00 +0530 https://dailyworld.in/market/indian-stock-market-ends-in-green-over-positive-global-cues-618524.html Mumbai May 29 IANS The Indian stock market closed in green on Thursday amid positive global cues Sensex closed 32070 points or 039 per cent up at 8163302 while Nifty ended up 8115 points or 033 per cent at 2483360nbspBuying was seen in midcap and smallcap along with largecap Nifty Midcap 100 index was up 31585 points or 055 per cent at 5745725 and Nifty Smallcap 100 index was up 10540 points or 059 per cent at 17889On a sectoral basis metal IT financial services realty media and energy indices were in the green while PSU Bank FMCG and PSE sectors were in the rednbspGlobal sentiment improved after a US court struck down Donald Trumps reciprocal tax policy However the domestic market remained mostly rangebound during the day due to rising oil prices and higher US 10year bond yields said Vinod Nair Head of Research Geojit Investments LimitednbspSome recovery was seen toward the end of the session driven by FampampO expiry led coveringExportfocused sectors like IT and Pharma performed well supported by hopes of easing trade tensions Lack of positive domestic triggers and a drop in industrial output to an eightmonth low could lead to shortterm market consolidation he mentionednbspNifty witnessed a volatile session on the day of monthly expiry The momentum continues to remain weak with the RSI still pointing downwardThe next crucial support is at 24670 If the index falls below this level a sharp correction may occur potentially dragging the index down to 24400 24300 On the other hand if Nifty holds above 24670 it could witness a smart recovery towards 25000 or 25150 in the short term said Rupak De from LKP SecuritiesnbspGold prices traded weak in the first half of the session after the FOMC meeting minutes indicated that the US Federal Reserve is unlikely to ease interest rates in the near term maintaining a datadependent stance In the domestic market MCX gold holds support near Rs 94000 with resistance around Rs 96500 said experts https://dailyworld.in/market/indian-stock-market-ends-in-green-over-positive-global-cues-618524.html Thu, 29 May 2025 16:10:00 +0530 https://dailyworld.in/market/indian-stock-market-ends-lower-over-profit-booking-618294.html Mumbai May 27 The Indian stock market closed in the red on Tuesday due to profit booking driven by valuation concerns and weakness across the Asian markets At the end of trading Sensex was down 62482 points or 076 per cent at 8155163 and Nifty was down 17495 points or 070 per cent at 2482620The decline was led by FMCG IT auto and metal sectors Nifty Auto index closed down 070 per cent Nifty IT index 075 per cent Nifty Financial Service index 064 per cent and Nifty FMCG index 088 per centUnlike largecap buying was seen in smallcap and midcap indexes The Nifty Midcap 100 index rose 8725 points or 015 per cent to close at 5715450 and the Nifty Smallcap 100 index rose 1735 points or 010 per cent to close at 1772515The Nifty has been consolidating for the past 1011 days setting an indecisive tone among investors However the overall trend remains strong as the index continues to sustain above the shortterm moving average said Rupak De from LKP SecuritiesThe shortterm outlook remains positive with the potential to reach the 2500025150 range On the lower end support is placed at 24700 he mentionedMarkets had a volatile session marked by sharp swings on both sidesSectoral performance was mixed PSU banks and realty stocks stood out with positive momentum while major weakness was visible in consumer goods IT auto consumption and financial services sectorsAll in all todays session was a classic example of indecision with bulls and bears both making bold attempts said Sundar Kewat from Ashika Institutional EquityConversely mid and smallcap segments remained relatively resilient supported by better than estimated Q4 earnings and moderation in premium valuation added Vinod Nair Head of Research Geojit Investments LimitedOn rupees performance Dilip Parmar from HDFC Securities said that in the near term the spot USDINR pair is anticipated to rise incrementally due to monthend adjustments and demand from oil importers The pair faces resistance at 8590 and has support at 8480 IANS https://dailyworld.in/market/indian-stock-market-ends-lower-over-profit-booking-618294.html Tue, 27 May 2025 16:47:00 +0530 https://dailyworld.in/market/indian-stock-market-closes-in-green-auto-and-it-stocks-gain-618066.html Mumbai May 26 The Indian stock market closed in the green on Monday as buying was seen across the sectors especially in the auto and IT verticals Benchmark indices commenced the week on a buoyant note extending their upward trajectory for the second consecutive session At the end of trading the Sensex was up 45537 points or 056 per cent at 8217645 and the Nifty was up 148 points or 060 per cent at 2500115The rise was led by auto and IT stocks Both Nifty Auto and Nifty IT index closed with a gain of one per cent each Apart from this buying was seen in metal realty media energy commodity and PSE indicesAlong with largecap buying was also seen in midcap and smallcap The Nifty Midcap 100 index was up 37950 points or 067 per cent at 5706725 and the Nifty Smallcap 100 index was up 6445 points or 037 per cent at 1770780The index formed a bullish candle with a higher high and higher low signalling continuation of the up move for the second session in a row as strong buying demand from the 20 days EMA The bias remains positive and dips if any in the coming sessions should be used as buying opportunity as we expect index to head higher towards 25300 levels in the coming sessions said Bajaj Broking Research in its noteAccording to market watchers the US decision to consider extending the deadline for imposing aggressive tariffs on EU coupled with a decline in the dollar index contributed to a rebound in the domestic equity marketsThese developments suggest that trade negotiations are progressing constructively which could help moderate market volatilityAdditionally the early onset of the southwest monsoon and a decline in domestic bond yields have encouraged investors to maintain their focus on riskier assets The broader market outperformed driven by expectations of increased rural consumption and a stronger Q4 GDP following betterthananticipated corporate earnings for the quarter informed Vinod Nair Head of Research Geojit Investments LimitedRupee traded higher by 24 paise to close at 8509 against the US dollar supported by continued weakness in the dollar index which fell to 9893A series of key US economic data lined up this week including Durable Goods Orders FOMC Meeting Minutes Q1 GDP and the Core PCE Price Index are expected to keep USDINR volatility elevated The rupee is likely to remain within a range of 8450 to 8525 in the near term said Jateen Trivedi from LKP Securities IANS https://dailyworld.in/market/indian-stock-market-closes-in-green-auto-and-it-stocks-gain-618066.html Mon, 26 May 2025 17:10:00 +0530 https://dailyworld.in/market/earnings-gdp-data-global-cues-and-other-factors-to-drive-stock-markets-next-week-617880.html Mumbai May 25 The Indian stock market is expected to remain volatile next week with several key events lined up that could influence investor sentiment Investors will closely track the final batch of March quarter earnings key economic data the monthly expiry of May derivatives contracts foreign investment trends and developments in the IndiaUS trade deal in the upcoming weekThis week the domestic equity market ended on a weak note with the Nifty and Sensex falling nearly 07 per cent to close at 24853 and 81721 respectivelyIn contrast the Bank Nifty index edged up by 43 points supported by gains in banking stocksThe overall sentiment remained cautious due to global uncertainties including the rise in US bond yields and continued foreign fund outflowsA major concern for investors has been the spike in US Treasury yields The 10year yield touched 463 per cent the highest since FebruaryKey macroeconomic data will also be released this week On May 28 India will unveil industrial and manufacturing production figures for AprilOn May 30 the GDP growth data for FY25 and the March quarter will be announced giving fresh insight into the countrys economic performance and recovery paceEarnings season will draw to a close with results from key major companies Investors will be keenly watching the management commentary and sectorspecific outlooksMeanwhile foreign institutional investors FIIs sold shares worth Rs 11591 crore last week while domestic institutional investors DIIs made net purchases of Rs 11199 croreHowever market experts remain optimistic about Indias longterm growth potentialThey point out that heavy FPI outflows have often been followed by strong rebounds as Indias fundamentals remain attractive to global investorsGlobally attention will also be on US Fed Chair Jerome Powells speech on Monday May 26 which may offer cues on interest rate directionThe Federal Reserves minutes from its May 67 meeting will be released on Wednesday May 28 and are expected to provide further clarity on inflation and monetary policyOn Thursday May 29 the US will announce its second estimate of GDP growth for Q1 2025 along with jobless claims data both crucial indicators of economic health IANS https://dailyworld.in/market/earnings-gdp-data-global-cues-and-other-factors-to-drive-stock-markets-next-week-617880.html Sun, 25 May 2025 12:48:00 +0530 https://dailyworld.in/market/reliance-industries-sees-rs-40-800-crore-drop-in-market-cap-leads-losses-among-top-firms-617894.html Mumbai May 25 Reliance Industries was the biggest loser among Indias top 10 most valued companies this week as its market valuation dropped by Rs 408004 crore The fall came amid a broader weakness in the stock market Overall six of the top10 most valuable firms saw their combined market capitalisation erode by Rs 7816608 croreThe decline was in line with a sluggish week for Indian equities The Sensex fell by 60951 points or 074 per cent while the Nifty dropped 16665 points or 066 per centApart from Reliance other major firms that saw their valuations decline included Tata Consultancy Services TCS Infosys ICICI Bank State Bank of India SBI and Hindustan UnileverTCS lost Rs 1771054 crore in market value while Infosys declined by Rs 1048858 croreHindustan Unilevers mcap fell by Rs 54628 crore ICICI Banks by Rs 245431 crore and SBIs by Rs 124945 croreMeanwhile four companies from the top10 pack Bharti Airtel Bajaj Finance ITC and HDFC Bank ended the week with gainsBharti Airtels market value rose the most by Rs 1012124 crore Bajaj Finance added Rs 454887 crore ITC grew by Rs 87599 crore and HDFC Bank saw a slight increase of Rs 39993 crore in its valuationMeanwhile the Indian stock markets ended the week on a subdued note as investors grappled with global uncertainties and awaited key domestic developmentsThe benchmark indices witnessed volatility with the Sensex and Nifty oscillating within a narrow range before closing marginally lowerThe Nifty had settled at 2485315 while the Sensex ended at 8172108 reflecting cautious investor sentimentAccording to market watchers the muted performance was driven by a combination of global and domestic factorsOn the global front rising US bond yields and concerns over the United States mounting debt burden triggered foreign portfolio outflows putting pressure on emerging markets including India said Ajit Mishra SVP Research Religare Broking Limited IANS https://dailyworld.in/market/reliance-industries-sees-rs-40-800-crore-drop-in-market-cap-leads-losses-among-top-firms-617894.html Sun, 25 May 2025 14:23:00 +0530 https://dailyworld.in/market/centres-wheat-purchase-at-msp-crosses-297-million-tonnes-617895.html New Delhi May 25 The Centre has procured over 297 million tonnes MT of wheat so far during the 202526 rabi marketing season which extends from April to June This is the highest procurement since the 202122 season official figures showed The wheat procurement this year is up 135 per cent compared to the same period last year with purchases nearing completion in most major producing states according to data compiled by the Food Corporation of India FCIUnion Food and Consumer Affairs Minister Pralhad Joshi expects the final figure for wheat procurement to touch 320325 lakh tonnes due to the record harvest this yearTotal wheat purchase stood at 2659 lakh tonnes in 202425 The government has set a wheat procurement target of 312 lakh tonnes for the 202526 marketing year the minister saidFCI data shows all five major wheat procuring states Punjab Haryana Madhya Pradesh Rajasthan and Uttar Pradesh have procured more wheat in the current year as compared to last yearAbout Rs 6234623 crore in minimum support price payments have been made benefiting 227 million farmers the data showedUnion Agriculture Minister Shivraj Singh Chouhan announced on Monday that Indias foodgrain production has increased by over 106 lakh tonnes to 166391 lakh tonnes in 202425 which represents a 683 per cent increase over the corresponding figure of the previous yearIn 202324 the countrys total foodgrain production was around 15576 lakh tonnes I am glad to tell you that in 202425 it has become 166391 lakh tonnes Chouhan said at a press conference recentlyThe production of the rabi crop was 160006 lakh tonnes in 202324 now it has increased to 164527 lakh tonnes the minister saidThe Union Minister said that his ministrys vision was not only to meet the countrys own food requirement but also to make India the food basket of the world IANS https://dailyworld.in/market/centres-wheat-purchase-at-msp-crosses-297-million-tonnes-617895.html Sun, 25 May 2025 14:47:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-higher-despite-fresh-covid-concerns-617224.html Mumbai May 21 The Indian benchmark indices opened higher on Wednesday amid mixed global cues as buying was seen in the pharma auto PSU bank and financial service sectors in the early trade At around 935 am Sensex was trading 29653 points or 037 per cent up at 8148297 while the Nifty added 8890 point or 036 per cent at 2477280Nifty Bank was up 9855 points or 018 per cent at 5497590 The Nifty Midcap 100 index was trading at 5602855 after declining 15410 points or 027 per cent Nifty Smallcap 100 index was at 1741935 after dropping 6365 points or 036 per centAccording to analysts Indian equity benchmarks declined sharply on Tuesday amid reports of increasing COVID19 cases in Southeast Asian countries like Singapore and Hong KongTechnically Nifty closed below its 5day EMA for the first time since May 8 2025 suggesting a shift to profitbooking Support levels lie at 24494 and 24378 while resistance is expected in the 2480024900 range said Devarsh Vakil Head of Prime Research at HDFC SecuritiesIn the absence of strong global cues Indian markets are likely to pick up from where they left off yesterday he addedMeanwhile in the Sensex pack Sun Pharma HDFC Bank Tech Mahindra TCS Nestle India Maruti Suzuki ICICI Bank UltraTech Cement and Hindustan Unilever were the top gainers Whereas Eternal Kotak Mahindra Bank IndusInd Bank and NTPC were the top losersIn the Asian markets China Hong Kong Bangkok Seoul and Jakarta were trading in green whereas Only Japan was trading in redIn the last trading session Dow Jones in the US closed at 4267724 down 11483 points or 027 per cent The SampP 500 ended with a loss of 2314 points or 039 per cent at 594046 and the Nasdaq closed at 1914271 down 7275 points or 038 per centThe spike in uncertainty and risk is impacting the market rather unexpectedly Yesterdays FII sell figure of Rs 10016 crore is a major reversal of their big buying in May and if this persists it has the potential to impact the market said expertsCredit rating downgrade of US sovereign debt and the consequent spike in US bond yields spike in Japanese Govt Bond yields rising COVID cases in some parts of India and reports of a possible Israel attack on Iran are doing the rounds and combination of these all factors may be responsible for this sudden reversal in FII activity they mentionedAccording to provisional data from the NSE foreign institutional investors FIIs sold Indian equities worth Rs 1001610 crore on May 20 while domestic institutional investors DIIs were net buyers to the tune of Rs 673839 crore IANS https://dailyworld.in/market/indian-stock-market-opens-higher-despite-fresh-covid-concerns-617224.html Wed, 21 May 2025 09:58:00 +0530 https://dailyworld.in/market/sensex-nifty-open-a-tad-lower-amid-mixed-global-cues-617042.html Mumbai May 20 The domestic benchmark indices opened lower on Tuesday amid mixed global cues as selling was seen in the auto PSU bank and financial service sectors in the early trade At around 931 am Sensex was trading 4079 points or 005 per cent down at 8201863 while the Nifty declined 2210 point or 009 per cent at 2492335Nifty Bank was down 5140 points or 009 per cent at 5536930 The Nifty Midcap 100 index was trading at 5694300 after declining 16245 points or 028 per cent Nifty Smallcap 100 index was at 1760690 after dropping 4275 points or 024 per centAccording to analysts from a technical perspective the Nifty formed a bearish candle on the daily chart while trading within an inside bar pattern closing just below the crucial 25000 levelThe index moved sideways throughout the session fluctuating within a narrow intraday range of 24900 to 25100 a sign of market indecision Immediate support is seen at 2490024800 while resistance levels are placed at 25100 and 25235 A decisive breakout above 25235 may open the path for an upside move toward 2550025743 said Mandar Bhojane Equity Research Analyst at Choice BrokingThe Indian Rupee exhibited strength appreciating by 10 paise against the greenback to settle at 8540This upward movement in the rupee can be attributed to cooling crude oil prices and a softening of the US dollar added Devarsh Vakil Head of Prime Research of HDFC SecuritiesMeanwhile in the Sensex pack Tata Steel Sun Pharma Infosys Tech Mahindra ITC Adani Ports LampT and HCL Tech were the top gainers Power Grid Nestle India Titan Kotak Mahindra Bank MampM and HDFC Bank were the top losersIn the Asian markets China Hong Kong Japan Bangkok Seoul and Jakarta were trading in greenIn the last trading session Dow Jones in the US closed at 4279207 up 13733 points or 032 per cent The SampP 500 ended with a gain of 522 points or 009 per cent at 596360 and the Nasdaq closed at 1921546 up 436 points or 002 per centOn the institutional front both foreign and domestic investors turned cautious marking the first simultaneous selloff in over a monthAccording to provisional data from the NSE foreign institutional investors FIIs sold Indian equities worth Rs 52595 crore on May 19 while domestic institutional investors DIIs were net sellers to the tune of Rs 23793 crore IANS https://dailyworld.in/market/sensex-nifty-open-a-tad-lower-amid-mixed-global-cues-617042.html Tue, 20 May 2025 10:12:00 +0530 https://dailyworld.in/market/sensex-nifty-shed-1-pc-each-amid-broad-sell-off-auto-stocks-hit-hard-617123.html Mumbai May 20 The Indian stock markets witnessed a sharp fall on Tuesday amid weak global cues as FII selling was among the key factors that weighed on investors sentiment The Sensex dropped 87298 points or 106 per cent to close at 8118644 During the day the index moved between an intraday high of 8225042 and low of 8115370Similarly the Nifty slipped 26155 points or 105 per cent to settle at 2468390The Nifty slipped after two days of consolidation dragged down by broadbased selling and weakening market breadth Rupak De of LKP Securities saidDespite this decline the shortterm trend remains strong although there is a possibility of a deeper pullback toward the 21day EMA on the daily timeframe he addedMost of the Sensex stocks ended lower Only Tata Steel Infosys and ITC managed to post gainsTata Steel rose 073 per cent Infosys added 008 per cent and ITC was marginally up by 007 per centOn the other hand top losers included Eternal formerly Zomato which fell 410 per cent followed by Maruti Suzuki UltraTech Cement Power Grid and Nestle IndiaBroader markets also saw selling pressure The Nifty Midcap100 index dropped 162 per cent and the Nifty Smallcap100 index slipped 094 per centSectorwise all indices closed lower The auto sector was the worst performer of the day The Nifty Auto index tumbled 217 per cent dragging the overall market sentiment further downThe India VIX also known as the fear index inched up by 012 per cent to 1739 indicating rising concerns about market volatilityWith the lack of major positive triggers and prevailing uncertainty over US fiscal stability investors opted for profitbooking and adopted a cautious stance said Vinod Nair of Geojit Investments LimitedHe added that the selling pressure was widespread as participants awaited more clarity on the IndiaUS trade agreementGiven the current premium valuations and delays in the trade deal we foresee a phase of shortterm consolidation which may lead FIIs to scale back their positions in the domestic market Nair mentioned IANS https://dailyworld.in/market/sensex-nifty-shed-1-pc-each-amid-broad-sell-off-auto-stocks-hit-hard-617123.html Tue, 20 May 2025 17:02:00 +0530 https://dailyworld.in/market/arunachal-logs-record-monthly-gst-collection-of-rs-332-crore-in-april-617186.html Itanagar May 20 Arunachal Pradesh recorded its highestever monthly Goods and Services Tax GST collection in April this year reflecting the national trend of an alltime high GST collection Expressing his satisfaction Chief Minister Pema Khandu in a post on his X handle said In a landmark achievement Arunachal recorded its highestever monthly GST collection in April 2025 a massive Rs 332 crores marking a 66 per cent increase from last year Since the launch of GST in 2017 Arunachals taxpayer base has grown significantly with over 20000 registered taxpayers today According to an official statement the allIndia GST collection also reached an alltime high of Rs 236 lakh crores in April 2025 marking a 126 per cent yearoveryear increase Since the implementation of GST in July 2017 the taxpayer base in Arunachal Pradesh has grown manifold with approximately 20000 taxpayers currently registered the statement said Meanwhile to further boost the tax collection the Central GST Itanagar Commissionerate organised a cyclothon cycle rally on May 18 under the theme Sunday on Cycles The event aimed to promote physical fitness and a healthy lifestyle and to create awareness about GST as it approaches its eighth anniversary Despite the rain a large number of enthusiastic participants gathered at the Bank Tinali area in Itanagar from where the rally was flagged off The cycle rally concluded at Indira Gandhi Park Union Finance Minister Nirmala Sitharaman had earlier said that the record GST collection in April showcases the resilience of the Indian economy and the effectiveness of cooperative federalism Gross GST collections for April stood at 236 lakh crore rupees marking a 126 per cent increase over the gross collection of 210 lakh crore rupees in April 2024 Net GST collections for April 2025 reached 209 lakh crore rupees reflecting a 91 per cent growth compared to the net collection of 192 lakh crore rupees in April 2024 IANS https://dailyworld.in/market/arunachal-logs-record-monthly-gst-collection-of-rs-332-crore-in-april-617186.html Tue, 20 May 2025 22:58:00 +0530 https://dailyworld.in/market/bhel-bhopal-unit-clocks-rs-4278-crore-turnover-616996.html Bhopal May 19 Bhopal unit of Bharat Heavy Electricals Limited BHEL has announced its financial results for the fiscal year 202425 reflecting significant growth across key performance indicators The turnover of the unit reached Rs 4278 crore in 202425 a 26 per cent rise from Rs 3403 crore in the previous year the company said in a statement Profit before tax for the unit climbed to Rs 272 crore reflecting a 178 per cent increase from Rs 98 crore in 202324 Additionally the unit achieved a cash collection of Rs 4679 crore up 31 per cent from last year Established in 1956 BHELs Bhopal unit is the mother unit It manufactures various heavy engineering goods including motors turbines and transformers used in mega power projects Order inflows for the Bhopal Unit totalled Rs 6312 crore in 202425 and its order backlog as of April 1 2025 stands at Rs 13861 crore the company said in a statement Company executives praised the work culture and industrial harmony at the Bhopal unit expressing confidence that the division will achieve its targeted turnover of Rs 4400 crores in the upcoming fiscal year 202526 the company said A presentation on the companys performance highlighted achievements across various departments emphasising contributions that led to these financial successes At a corporate level the company achieved a total revenue of Rs 28339 crore marking a 19 per cent increase from Rs 23893 crore in 202324 Profit before tax surged to Rs 725 crore a notable rise of 230 per cent compared to Rs 220 crore in the previous year the company said The company received record orders worth Rs 92535 crores in 202425 registering a 19 per cent increase over the Rs 77907 crores in orders from 202324 As of April 1 2025 BHELs order book stands at an impressive Rs 196328 crores reinforcing its market position the statement said IANS https://dailyworld.in/market/bhel-bhopal-unit-clocks-rs-4278-crore-turnover-616996.html Mon, 19 May 2025 22:44:00 +0530 https://dailyworld.in/market/indian-rupee-opens-stronger-gold-prices-show-upward-trend-616850.html New Delhi May 19 The Indian rupee opened 12 paise stronger at 8544 against the US dollar on Monday amid a backdrop of global economic developments and market reactions The Indian rupee closed at 8552 a dollar on FridayMeanwhile gold prices increased almost 1 per cent in the morning session of trade on the domestic futures market on Monday amid a weaker dollar and renewed fears of Donald Trumpera trade tariffsMCX Gold June 5 contract traded 095 per cent higher at Rs 93317 per 10 grams in the morning trade Meanwhile the dollar index declined nearly 03 per cent supporting gold prices A decline in the US dollar makes gold cheaper in other currencies enhancing its demandRahul Kalantri VP of commodities at Mehta Equities said that gold has support at 31953175 and resistance at 32453260 Silver has support at 32103180 and resistance at 32653285Gold prices climbed above 3220 per ounce on Monday rebounding from last weeks steepest decline in six months The recovery was fueled by renewed safehaven demand after Moodys downgraded the US sovereign credit rating citing fiscal imbalances and rising debt costs he mentionedDespite recent optimism from a temporary USChina tariff truce weak US economic indicators and subdued inflation have led markets to price in additional interest rate cuts by the Federal Reserve offering further support to bullionIn INR gold has support at Rs 9185091480 while resistance at Rs 9285093490 Sliver has support at Rs 9448094850 per kg while resistance at Rs 9595096650 he addedGold prices have remained rangebound over the last two sessions due to a lack of positive triggers as the US reached a temporary truce with China and tensions between India and Pakistan have also easedHowever domestic buying ahead of the upcoming wedding season in India will ensure that the downside is capped and prices remain at elevated levels said Aksha Kamboj Vice President India Bullion and Jewellers Association IBJA IANS https://dailyworld.in/market/indian-rupee-opens-stronger-gold-prices-show-upward-trend-616850.html Mon, 19 May 2025 10:20:00 +0530 https://dailyworld.in/market/indian-startups-raise-194-million-this-week-616670.html New Delhi May 17 Indian startups collectively raised around 19422 million this week across 28 deals The funding spanned nine growth and latestage rounds and 18 earlystage deals with one startup choosing not to disclose its funding amountBengaluru continued to lead Indias startup ecosystem recording 12 deals DelhiNCR followed with seven while Mumbai Jaipur and Ahmedabad also saw funding activityHealthtech emerged as the most active sector this week with four deals followed by foodtech and AI startups with three deals eachOther sectors that drew investor interest included media and entertainment logistics and fintechSeed funding was the most common deal type with 12 rounds followed by Series B Series A and Series C investmentsAmong the growth and latestage deals D2C snacking brand Farmley led with its Series C round backed by L CattertonBattery tech startup VFlowTech secured 205 million in a Series B round while Nobel Hygiene raised 20 million through a combination of primary and secondary transactionsOther funded companies included Celebal Technologies Avammune Therapeutics Hocco ice creams M1xchange Biryani Blues and an omnichannel jewellery brandOn the earlystage front startups raised a total of 57 million Complement1 an oncologyfocused company led this segment with a 16 million seed roundOther funded startups included mixed reality platform Flam AI ventures like Hyperbots and Adopt AI and manufacturing firm TIEA Connectors Analytics startup Cryptique also received fundingThe week also saw important business developments Capillary Technologies a loyalty management platform powered by AI acquired Canadabased Kognitiv to strengthen its presence in North AmericaMeanwhile Curefoods acquired exclusive rights to bring Krispy Kreme to North India marking the brands regional debutOn the leadership front cloudbased media SaaS company Amagi appointed two independent directors in line with the Companies Act as it moves toward an IPOMeanwhile the average startup funding over the past eight weeks has been around 21861 million with approximately 25 deals each week IANS https://dailyworld.in/market/indian-startups-raise-194-million-this-week-616670.html Sat, 17 May 2025 20:29:00 +0530 https://dailyworld.in/market/centre-sanctions-376-lakh-more-houses-under-pmay-g-for-assam-616673.html New Delhi May 17 In a big push for rural development in Assam the Union government on Saturday announced the sanctioning of 376 lakh more houses for the state under the Pradhan Mantri Awas Yojana Gramin PMAYG The announcement was made by Union Minister for Agriculture Farmers Welfare and Rural Development Shivraj Singh Chouhan during a virtual Grihapravesh ceremony held in Guwahati to mark the completion of 55000 houses under the same schemeSpeaking at the event Chouhan said the government is committed to improving rural infrastructure and ensuring better living conditions for poor and underprivileged familiesHe also appreciated Assams achievement of completing 20 lakh houses under PMAYG describing it as a remarkable milestoneThe event was attended by several beneficiaries who have moved into their newly built homesThey were felicitated for successfully completing their houses under the central housing schemeIn a step aimed at empowering rural women the Union Minister also launched the Lakhimi Mistri initiativeThis programme will train women in masonry skills opening up employment opportunities for them in the construction sectorAs a symbolic start to the initiative safety kits were distributed to five women who will receive training under the new schemeChouhan also virtually inaugurated 21 Knowledge Centres across Assam These centres have been set up under the Rural Infrastructure Development Fund RIDF and are aimed at supporting farmers by giving them better access to information and agricultural resourcesDuring the event Chouhan praised the Assam government for effectively implementing rural development schemesHe especially congratulated Chief Minister Himanta Biswa Sarma for his leadership in making these efforts successfulChief Minister Sarma who was present at the ceremony thanked the Union government for its continued supportHe said that the state is fully committed to empowering farmers women and rural communities through inclusive and sustainable development IANS https://dailyworld.in/market/centre-sanctions-376-lakh-more-houses-under-pmay-g-for-assam-616673.html Sat, 17 May 2025 20:32:00 +0530 https://dailyworld.in/market/sensex-nifty-end-lower-as-investors-book-profits-616479.html Mumbai May 17 The Indian stock markets ended lower on Friday as investors chose to book profits after recent gains Both benchmark indices Sensex and Nifty closed in the red in the final trading session of the weekThe Sensex dropped by 20015 points or 024 per cent to settle at 8233059 During the day it moved between a high of 8251481 and a low of 8214695Similarly the Nifty slipped by 4230 points or 017 per cent to close at 2501980 The Nifty remained in consolidation mode taking a breather after Thursdays rallyIndicators and overlays are consistently pointing towards further strength in the short term Any dips are likely to be bought into with support placed at 2500024800 said Rupak De of LKP SecuritiesOn the higher side a move above 25120 could take the index towards 2525025350 he addedWhile the headline indices saw declines the broader market showed strong performanceSmallcap and midcap stocks outperformed with the Nifty Smallcap100 gaining 186 per cent and the Nifty Midcap100 rising 094 per centAmong the Sensexlisted companies Eternal formerly Zomato Hindustan Unilever Asian Paints ITC and IndusInd Bank were the top gainersTheir stocks rose between 060 per cent and 120 per centOn the flip side Bharti Airtel HCL Tech State Bank of India Infosys and Tech Mahindra were among the top losers with declines ranging from 079 per cent to 276 per centSectorwise the markets closed on a mixed note On the NSE indices like Nifty IT Metal Pharma and Healthcare ended in the red posting losses of up to 084 per centOn the other hand several sectors saw gains with Nifty Realty emerging as the top performer closing 16 per cent higherThe market volatility gauge India VIX also known as the fear index declined by 202 per cent to settle at 1655 points on Friday indicating a slight easing in market uncertaintyThe overall mood in the market was cautious as investors chose to lock in profits at higher levels after a strong runup in recent sessions market experts saidThe Indian rupee ended slightly higher on Friday at 8551 against the US dollar compared to Thursdays closing rate of 8554Looking ahead the USDINR spot rate is expected to find support around the 8490 level while facing resistance near 8594 Dilip Parmar of HDFC Securities said IANS https://dailyworld.in/market/sensex-nifty-end-lower-as-investors-book-profits-616479.html Fri, 16 May 2025 17:43:00 +0530 https://dailyworld.in/market/gold-prices-drop-sharply-by-rs-2-375-per-10-grams-silver-also-falls-616213.html New Delhi May 15 IANS Gold buyers in India have a reason to cheer as prices of the yellow metal saw a significant drop on ThursdaynbspThe price of 24carat gold fell by Rs 2375 per 10 grams bringing it down to Rs 91484 from Rs 93859 according to the India Bullion and Jewellers Association IBJAnbspThe decline wasnt limited to just 24carat gold The price of 22carat gold also dropped now standing at Rs 83799 per 10 grams down from Rs 85975nbspSimilarly 18carat gold saw its price fall to Rs 68613 from Rs 70394 per 10 gramsThis marks a sharp turnaround from just a few weeks ago when on April 22 the price of 24carat gold had surged close to the Rs 1 lakh marknbspSilver too mirrored the downtrend that was being faced by the yellow metalnbspPrices for one kilogram of silver declined by Rs 2297 to Rs 94103 from Rs 96400 per kgnbspThe decline in precious metal prices extended to the futures market in the country as wellnbspOn the Multi Commodity Exchange MCX gold futures for June 5 fell 1 per cent to Rs 91325 while silver futures for July 4 dropped by a similar margin to Rs 94458 per kgMarket analysts attribute this fall in gold prices to easing tensions in global trade particularly between the United States and China which had earlier set the prices of the yellow and silver metals skyrocketingnbspAs geopolitical uncertainty decreases the appeal of safehaven assets like gold tends to weakennbspIn international markets gold has dropped to its lowest level in a month On COMEX gold was trading down by 11 per cent at 314135 per ouncenbspThis is a steep drop from its recent peak of around 3500 per ounce seen on April 22nbspThe sudden drop in gold and silver prices could spur demand in the domestic market especially with the wedding season ongoing and Akshaya Tritiya just past both traditionally strong periods for gold purchases https://dailyworld.in/market/gold-prices-drop-sharply-by-rs-2-375-per-10-grams-silver-also-falls-616213.html Thu, 15 May 2025 16:07:00 +0530 https://dailyworld.in/market/stock-market-surges-after-trumps-india-trade-deal-claim-nifty-above-25-000-616214.html Mumbai May 15 IANS Domestic stock markets closed sharply higher on Thursday after US President Donald Trump claimed that India has agreed to reduce tariffs to zero on a range of American goods as part of the bilateral trade dealnbspThe announcement lifted investor sentiment The Sensex surged by 120018 points or 148 per cent to end the day at 8253074 During the session the index touched an intraday high of 8271814The Nifty index also saw strong gains closing above the 25000 mark for the first time after October 2024 ending at 2506210nbspThe index gained 39520 points or 16 per cent and traded in a range between 2449445 and 2511625 during the sessionnbspThe recent consolidation breakout along with a move above the swing high has increased the probability of the index reaching 25690 in the short term market expert saidnbspImmediate resistance is placed at 25360 above which further upside potential may be unlocked On the downside 24400 is expected to act as strong support in the short to medium term Rupak De of LKP Securities statedOn the 30 Sensex constituent stocks Tata Motors led the gains with a 416 per cent jump followed by HCL Technologies which rose 337 per centnbspEternal gained 222 per cent while Adani Ports added 219 per cent Other notable gainers include Maruti Suzuki India Asian Paints ICICI Bank and morenbspOn the downside IndusInd Bank was the only loser with a drop of 016 per centnbspMid and smallcap stocks also participated in the rally The Nifty Midcap100 index rose 070 per cent and the Nifty Smallcap100 gained 054 per centAll sectoral indices on the NSE ended in positive territory showing broadbased buyingnbspMarket volatility also eased The India VIX which measures fear and uncertainty in the market dropped by 193 per cent to settle at 1689nbspAnalysts said that easing geopolitical and trade concerns along with strong domestic sentiment helped fuel the rally across sectors https://dailyworld.in/market/stock-market-surges-after-trumps-india-trade-deal-claim-nifty-above-25-000-616214.html Thu, 15 May 2025 16:10:00 +0530 https://dailyworld.in/market/sensex-nifty-open-lower-on-mixed-global-cues-616273.html Mumbai May 15 The Indian equity indices opened in the red on Thursday as selling pressure was seen among heavyweights like Power Grid Kotak Mahindra Bank and Sun Pharma stocks At 926 am Sensex was down 208 points or 026 per cent at 81122 and Nifty was down 54 points or 022 per cent at 24612Buying was seen across midcap and smallcap stocks Nifty midcap 100 index was up 169 points or 030 per cent at 56306 and Nifty smallcap 100 index was up 96 points or 056 per cent at 17243On the sectoral front auto PSU Bank metal media infra and commodities were major gainers On the other hand IT FMCG realty and energy were major losersIf the index sustains above the 24700 level it could move higher toward the 2485025000 range On the downside immediate support is seen at 24500 and 24350 which may serve as attractive entry points for long positions said Hardik Matalia from Choice BrokingIn the Sensex pack Adani Ports Tata Motors Bharti Airtel Tech Mahindra Tata Steel UltraTech Cement and Bajaj Finance were major gainers Power Grid IndusInd Bank Sun Pharma Infosys Eternal Zomato and Axis Bank were major losersGiven the current environment of market uncertainty and heightened volatility traders are advised to adopt a cautious wait and watch approach especially when dealing with highleverage positions Matalia addedMost Asian markets were trading in the red Tokyo Shanghai Hong Kong Bangkok and Seoul were major losers However Jakarta was in the greenMeanwhile the US market closed in the mixed zone on Wednesday Dow Jones was down 021 per cent and technology index Nasdaq was up 072 per centOn the institutional front foreign institutional investors FIIs were net buyers of equities worth Rs 931 crore on May 14 while domestic institutional investors DIIs purchased equities worth Rs 316 crore IANS https://dailyworld.in/market/sensex-nifty-open-lower-on-mixed-global-cues-616273.html Thu, 15 May 2025 16:34:00 +0530 https://dailyworld.in/market/sensex-nifty-open-higher-after-inflation-cools-and-geo-political-tensions-ease-616060.html Mumbai May 14 The Indian frontline indices opened in the green on Wednesday after retail inflation reached at multiyear low and geopolitical tensions eased At around 925 am Sensex was up 414 points or 051 per cent at 81562 and Nifty was up 136 points or 055 per cent at 24712Buying was seen in the midcap and smallcap stocks Nifty midcap 100 index was up 510 points or 092 per cent at 56030 and Nifty smallcap 100 index was up 132 points or 078 per cent at 17035On the sectoral front all indices were trading in the green Auto IT PSU bank FMCG metal energy infra and PSE were major gainersAfter a positive opening Nifty can find support at 24500 followed by 24400 and 24300 On the higher side 24700 can be an immediate resistance followed by 24800 and 24850 said Hardik Matalia from Choice BrokingIn the Sensex pack Tata Steel Bharti Airtel Tech Mahindra Infosys Eternal HCL Tech MampM Bajaj Finserv LampT TCS SBI and NTPC were major gainers On the other hand Tata Motors Asian Paints IndusInd Bank HUL Nestle and Kotak Mahindra Bank were major losersEarlier Indias retail inflation fell to 316 per cent in April from 334 per cent in March to its lowest level since July 2019With crude oil prices sharply easing domestic demand softer and food prices contained we expect the RBI to cut rates aggressively said Devarsh Vakil Head of Prime Research at HDFC SecuritiesThe Asian stock markets were trading in a mixed zone Hong Kong Shanghai Seoul and Jakarta were in the green while Japan and Bangkok were in the redThe US markets closed in the mixed zone on Tuesday Main index Dow Jones ended in the red and technology index Nasdaq closed higher for a second straight day after softerthanexpected inflation numbersThe foreign institutional investors FIIs sold equities worth Rs 476 crore on May 13 while domestic institutional investors DIIs extended their buying on the third day as they bought equities of Rs 4273 crore on the same day IANS https://dailyworld.in/market/sensex-nifty-open-higher-after-inflation-cools-and-geo-political-tensions-ease-616060.html Wed, 14 May 2025 10:01:00 +0530 https://dailyworld.in/market/sensex-nifty-open-higher-after-inflation-cools-geo-political-tensions-ease-616061.html Mumbai May 14 The Indian frontline indices opened in the green on Wednesday after retail inflation reached at multiyear low and geopolitical tensions eased At around 925 am Sensex was up 414 points or 051 per cent at 81562 and Nifty was up 136 points or 055 per cent at 24712Buying was seen in the midcap and smallcap stocks Nifty midcap 100 index was up 510 points or 092 per cent at 56030 and Nifty smallcap 100 index was up 132 points or 078 per cent at 17035On the sectoral front all indices were trading in the green Auto IT PSU bank FMCG metal energy infra and PSE were major gainersAfter a positive opening Nifty can find support at 24500 followed by 24400 and 24300 On the higher side 24700 can be an immediate resistance followed by 24800 and 24850 said Hardik Matalia from Choice BrokingIn the Sensex pack Tata Steel Bharti Airtel Tech Mahindra Infosys Eternal HCL Tech MampM Bajaj Finserv LampT TCS SBI and NTPC were major gainers On the other hand Tata Motors Asian Paints IndusInd Bank HUL Nestle and Kotak Mahindra Bank were major losersEarlier Indias retail inflation fell to 316 per cent in April from 334 per cent in March to its lowest level since July 2019With crude oil prices sharply easing domestic demand softer and food prices contained we expect the RBI to cut rates aggressively said Devarsh Vakil Head of Prime Research at HDFC SecuritiesThe Asian stock markets were trading in a mixed zone Hong Kong Shanghai Seoul and Jakarta were in the green while Japan and Bangkok were in the redThe US markets closed in the mixed zone on Tuesday Main index Dow Jones ended in the red and technology index Nasdaq closed higher for a second straight day after softerthanexpected inflation numbersThe foreign institutional investors FIIs sold equities worth Rs 476 crore on May 13 while domestic institutional investors DIIs extended their buying on the third day as they bought equities of Rs 4273 crore on the same day IANS https://dailyworld.in/market/sensex-nifty-open-higher-after-inflation-cools-geo-political-tensions-ease-616061.html Wed, 14 May 2025 10:01:00 +0530 https://dailyworld.in/market/indian-stock-market-ends-higher-defence-sector-remains-resilient-616134.html Mumbai May 14 Indian stock markets ended Wednesdays session on a strong note supported by gains in metal real estate and technology shares Among the key highlights was the continued strength in domestic defence stocks which have been gaining momentum for three straight sessions The sector remained resilient and showed consistent buying interest from investorsDespite some volatility during the day investor sentiment remained positive helping benchmark indices close in the greenAt the closing bell the Sensex was up by 182 points or 022 per cent settling at 8133056Similarly the Nifty rose by 88 points or 036 per cent to end the day at 24666In Nifty key option levels show 25000 and 25500 as major call resistances while 24000 and 24500 serve as put supports said expertsThe putcall ratio PCR of 072 suggests a mildly bearish bias according to Sundar Kewat from Ashika Institutional EquityOn the 30share index Tata Steel led the pack of gainers with a 388 per cent rise followed by Eternal 218 per cent Tech Mahindra 202 per cent Maruti Suzuki India 166 per cent and othersOn the downside the biggest loser was Asian Paints which declined by 178 per cent to close the intraday session at Rs 228365Other notable losers included Tata Motors down by 126 per cent and Kotak Mahindra Bank which fell by 111 per centBroader markets outperformed the headline indices with the Nifty Midcap 100 index climbing 113 per cent and the Nifty Smallcap 100 index advancing 136 per cent reflecting healthy investor interest in mid and smallcap stocksAdding to the positive market mood was the latest data on Indias retail inflation which eased to its slowest pace in over six years in AprilThe decline was largely driven by lower food prices and has strengthened expectations of a potential rate cut by the Reserve Bank of India RBIGlobal cues also offered support as softerthanexpected US consumer inflation data eased concerns over inflationary pressures and lifted hopes that the Federal Reserve may adopt a more accommodative stance going forwardWith domestic and global factors aligning favourably market experts believe that investor confidence is likely to stay strong in the near termThe retreat in crude oil prices and the overall softening of the greenback acted as tailwinds specifically supporting the local currency during intradays trading Dilip Parmar of HDFC Securities said IANS https://dailyworld.in/market/indian-stock-market-ends-higher-defence-sector-remains-resilient-616134.html Wed, 14 May 2025 16:48:00 +0530 https://dailyworld.in/market/four-tn-specialists-seek-gi-tag-with-nabard-mabif-support-616157.html Madurai May 14 In a bid to promote and protect local agricultural and food products the National Bank for Agriculture and Rural Development NABARD and the Madurai Agri Business Incubation Forum MABIF have jointly facilitated applications for Geographical Indication GI tags for four unique products from Tamil Nadu Sevur Groundnut Kalakadu Banana Kallidaikurichi Appalam and Adhanakotai Cashew IPR attorney P Sanjai Gandhi filed the GI applications on behalf of the respective producer associations and facilitators The Sevur Nilakkadalai Urpathiyalargal Sangam has applied for a GI tag for Sevur Groundnut cultivated in Sevur village and nearby areas in Kangeyam taluk TiruppurThis semiarid region with red loamy and sandy soil is ideal for groundnut farmingSpread across 4600 acres and expanding up to 10000 acres during peak seasons the crop is usually grown once a year sown in September and harvested in NovemberIn irrigated areas it is cultivated twice annually The yield ranges from 1000 to 1800 kg per hectare The Kalakadu Banana cultivated in the coastal Kalakad region of Tirunelveli is known for its quality and export valueThe Kalakadu Banana Urpathiyalargal Sangam the applicant highlighted that the regions tropical climate and fertile alluvial soil produce bananas of superior taste and textureThe fruit typically measures 1518cm in length 345cm in diameter and weighs between 100150 grams Kallidaikurichi Appalam a traditional papad is made from finely ground black gram salt and asafoetida and uses water sourced from the Tamirabarani RiverThe Kallidaikurichi Appalam Urpathiyalargal Sangam stated that the product sustains local cottage industries with many families involved in its production for generationsLastly Adhanakotai Cashew grown in Pudukkottai district is known for its rich taste and distinctive smoky flavour owing to traditional handroasting methods The Adhanakotai Cashew Vaazhai Urpathiyalargal has applied for its GI recognition citing the regions favourable climate and soilThe GI tag is expected to boost market recognition protect traditional knowledge and enhance economic prospects for these communities IANS https://dailyworld.in/market/four-tn-specialists-seek-gi-tag-with-nabard-mabif-support-616157.html Wed, 14 May 2025 19:29:00 +0530 https://dailyworld.in/market/stock-market-slips-over-1-pc-on-profit-booking-after-record-rally-615945.html Mumbai May 13 The Indian stock markets ended lower on Tuesday as investors booked profits following Mondays sharp rally The selloff was also fuelled by the potential fallout from the ongoing USChina trade talks A day after posting their best session in over four years the benchmark indices turned red The Sensex fell 128168 points or 15 per cent to close at 8114822Similarly the Nifty dropped 34635 points or 139 per cent to settle at 2457835The previous session had seen markets surge nearly 4 per cent as fears of conflict between India and Pakistan eased However that spike was largely driven by short covering prompting many retail investors to book profits on TuesdayAccording to analysts markets took a breather after a phenomenal start to the weekDespite the weakness in headline indices the broader markets managed to stay in the greenThe BSE Midcap index edged up by 017 per cent while the BSE Smallcap index rose 099 per cent signalling some resilience in smaller and midsized stocksSectorwise most major indices ended in the red Nifty Auto Financial Services FMCG and IT stocks were among the worst hit falling over 1 per cent eachOther sectors including Nifty Bank Metal Oil and Gas Realty and Consumer Durables also registered losses of up to 1 per centOn the other hand Nifty PSU Bank Media Pharma and Healthcare indices showed gains of up to 166 per centOut of the Sensex stocks Infosys was the biggest loser down 357 per cent followed by Eternal 338 per cent Power Grid 34 per cent HCL Tech 294 per cent and TCS 288 per centOn the upside Sun Pharma Adani Ports Bajaj Finance State Bank of India and Tech Mahindra gained up to 1 per centThe India VIX which measures market volatility eased slightly by 105 per cent to 1820Geopolitical tensions remained in focus as market participants monitored the fragile ceasefire between India and Pakistan adding to the cautious sentiment said Sundar Kewat of Ashika Institutional EquityAjit Mishra of Religare Broking Ltd said the dip in the index reflects caution among participants despite easing geopolitical tensions and stable global cuesHowever we expect the overall tone to remain positive given the noticeable support in the 2440024600 zone The focus should remain on identifying key sectors and themes showing relative strength and using intermediate pauses to accumulate quality stocks he mentioned IANS https://dailyworld.in/market/stock-market-slips-over-1-pc-on-profit-booking-after-record-rally-615945.html Tue, 13 May 2025 16:54:00 +0530 https://dailyworld.in/market/carborundum-universals-q4-net-profit-plunges-79-pc-yoy-616005.html Mumbai May 13 Carborundum Universal Limited part of the Murugappa Group and a key manufacturer of abrasives has reported a sharp decline in its net profit for the JanuaryMarch quarter Q4 of FY25 The companys consolidated net profit dropped by nearly 79 per cent yearonyear YoY to Rs 3010 crore compared to Rs 14256 crore in the same quarter of the previous financial yearFor the full financial year ending March 31 the companys net profit stood at Rs 29871 crore marking a 3727 per cent decline from Rs 47618 crore recorded in the previous yearThe fall in profits came despite a marginal rise in revenueCarborundum Universals consolidated total income during the March quarter remained largely flat at Rs 122338 crore a slight increase of 080 per cent over the Rs 121373 crore posted a year agoOn a fullyear basis total income rose by 327 per cent to Rs 493522 crore from Rs 477884 croreThe company highlighted that capital expenditure for FY25 stood at Rs 282 crore and maintained a very low consolidated debtequity ratio of just 003 per centSegmentwise the abrasives business saw a 33 per cent increase in consolidated sales reaching Rs 2159 croreThe electro minerals division recorded a 19 per cent rise to Rs 1574 crore while the ceramics segment delivered the strongest growth climbing 77 per cent to Rs 1160 crore driven by robust performance in metallised and engineered ceramics as well as refractoriesThe Board of Directors has recommended a final dividend of Rs 250 per share in addition to an interim dividend of Rs 150 per share paid earlierThis brings the total dividend for FY25 to Rs 4 per share or 400 per cent of the face value of Rs 1Carborundum Universal Limited CUMI founded in 1954 is a leading provider of material solutions specialising in abrasives electrominerals ceramics and refractories IANS https://dailyworld.in/market/carborundum-universals-q4-net-profit-plunges-79-pc-yoy-616005.html Tue, 13 May 2025 21:17:00 +0530 https://dailyworld.in/market/grse-registers-massive-growth-in-fy25-616015.html Kolkata May 13 Garden Reach Shipbuilders and Engineers GRSE Ltd has registered massive growth in FY25 making it one of the best financial years in the Defence PSUs history Apart from being a DPSU GRSE is also a listed company The impact of this result on the companys share prices will be known on Wednesday According to GRSE the total income for FY25 stood at Rs 5411 crore against Rs 3892 crore in FY24 This was a YearonYear YoY growth of 39 per cent Revenue from operations has increased to Rs 5076 crore in FY25 from Rs 3593 crore in FY24 registering a YoY growth of 41 per centThe Earnings before Interest Tax Depreciation and Amortisation EBITDA stands at Rs 756 crore in FY25 as against Rs 534 crore in FY24 This is an increase of 42 per cent Profit Before Tax PBT is Rs 703 crore for FY25 as compared to Rs 481 crore in FY24 a growth of 46 per cent YoY a GRSE official said Profit After Tax PAT was Rs 527 Crore in FY25 as against Rs 357 crore in FY24 This was a growth of 48 per cent YoY Earnings per share EPS for FY25 stood at Rs 4604 against Rs 3119 in FY24 The company has declared a total dividend 1385 per cent of the paidup share capital against 936 per cent of the previous yearThere has been significant growth in Q4 of FY25 as compared to the corresponding period in FY24 Commenting on the results Cmde P R Hari IN Retd chairman and managing Director GRSE said Happy to report yet another set of strong numbers With our strong order book production maturity of the ongoing projects and order visibility including in the commercial shipbuilding segment I am confident of even better performance during the current financial yearGRSE is presently handling 16 orders across four classes for the Indian Navy These include three Advanced Guided Missile Frigates under the Navys Project 17A and four NextGeneration Offshore Patrol Vessels NGOPVs The shipyard is also building seven AntiSubmarine Warfare Shallow Water Crafts for the Navy Of the eight ordered one was delivered recently GRSE is also working on four research vessels including one for the Defence Research and Development Organisation DRDO The shipyard is also building eight commercial multipurpose vessels for a German client and 13 hybrid ferries for the West Bengal government IANS https://dailyworld.in/market/grse-registers-massive-growth-in-fy25-616015.html Tue, 13 May 2025 22:21:00 +0530 https://dailyworld.in/market/us-stocks-soar-as-tariff-truce-with-china-sparks-global-market-rally-615762.html New Delhi May 12 Wall Street kicked off the week with a powerful surge on Monday as major US stock indexes soared after the United States and China struck a longawaited deal to reduce tariffs The agreement which aims to ease tensions in the ongoing trade war between the two largest economies lifted investor confidence and sparked a global market rallyThe Dow Jones Industrial Average jumped 103713 points or 251 per cent at 4228651The broader SampP 500 climbed 15024 points or 265 per cent to trade at 581015 while the techheavy Nasdaq surged 62190 points or 347 per cent at 1855082The rally was fuelled by news that Washington and Beijing have agreed to roll back most of the tariffs that had weighed heavily on global trade and threatened to push the US economy into recessionEconomists had warned that continued tariffs could lead to higher prices and shortages for American consumersCrude oil prices also spiked reflecting expectations of increased demand in a global economy less burdened by trade barriersThe US dollar strengthened against major currencies and Treasury yields rose as investors moved money into riskier assets and away from safe havensThe upbeat sentiment on Wall Street echoed across the globe contributing to an equally strong rally in Indian marketsEarlier in the day the Sensex and Nifty posted their biggest singleday gains in four years buoyed not only by global cues but also by a ceasefire understanding between India and Pakistan and progress in RussiaUkraine peace talksIndian investors saw their wealth grow by over Rs 16 lakh crore in a single session with all sectoral indices closing in the greenThe global relief rally reflects a broader return of risk appetite among investors who had been cautious amid geopolitical tensions and trade uncertaintiesMarket analysts say that easing tensions between major global powers is a key driver of the current momentum IANS https://dailyworld.in/market/us-stocks-soar-as-tariff-truce-with-china-sparks-global-market-rally-615762.html Mon, 12 May 2025 22:16:00 +0530 https://dailyworld.in/market/bull-run-sensex-zooms-past-1-900-points-as-india-pak-tensions-ease-615598.html Mumbai May 12 The domestic indices surged on Monday with Sensex jumping over 1900 points in the morning trade as IndiaPakistan tensions eased with Operation Sindoor marking a significant demonstration of Indias military and strategic prowess Buying was seen in the PSU bank IT and auto sectors in the early tradeAt around 934 am Sensex was trading 1943 points or 245 per cent up at 8139842 while the Nifty climbed 5988 point or 249 per cent at 2460685Nifty Bank was up 139595 points or 260 per cent at 5499120 The Nifty Midcap 100 index was trading at 5467955 after rising 145620 points or 274 per cent Nifty Smallcap 100 index was at 1658460 after climbing 49895 points or 310 per centAccording to analysts Indias markets and economy have demonstrated remarkable resilience consistently transcending external perturbations and geopolitical tensions This strength comes from a steady domesticallyoriented economy which helps protect against global troubles showing that every crisis eventually endsIndias efforts to negotiate trade deals will strengthen global business links and help it sell more worldwide bringing in steady foreign money and making it more competitive Along with balanced global relationships and strong partnerships this creates a relatively stable investment place said Devarsh Vakil Head of Prime Research at HDFC SecuritiesMajor indexes finished the last week narrowly mixed The trade deal announcement between US and UK and reports that US and Chinese officials meeting in Switzerland on the weekend for trade discussions paved the way for broader negotiations and tariff deescalation supported investor sentiment said expertsMeanwhile in the Sensex pack Adani Ports Bajaj Finance Axis Bank Eternal Power Grid NTPC Bajaj Finserv Tata Steel LampT SBI were the top gainers Whereas only Sun Pharma was the top loserIn the Asian markets China Hong Kong and Seoul were trading in green whereas Japan was trading in redIn the last trading session on Friday Dow Jones in the US declined 029 per cent to close at 4124938 The SampP 500 declined 007 per cent to 565991and the Nasdaq closed at 1792892On the institutional front foreign institutional investors FIIs after being net buyers for 16 consecutive sessions turned net sellers on May 9 offloading equities worth Rs 379871 crore In contrast domestic Institutional Investors DIIs remained net buyers investing Rs 727774 crore on the same day IANS https://dailyworld.in/market/bull-run-sensex-zooms-past-1-900-points-as-india-pak-tensions-ease-615598.html Mon, 12 May 2025 09:59:00 +0530 https://dailyworld.in/market/bull-run-sensex-surges-over-1-900-points-as-india-pak-tensions-ease-615599.html Mumbai May 12 The domestic indices surged on Monday with Sensex jumping over 1900 points in the morning trade as IndiaPakistan tensions eased with Operation Sindoor marking a significant demonstration of Indias military and strategic prowess Buying was seen in the PSU bank IT and auto sectors in the early tradeAt around 934 am Sensex was trading 1943 points or 245 per cent up at 8139842 while the Nifty climbed 5988 point or 249 per cent at 2460685Nifty Bank was up 139595 points or 260 per cent at 5499120 The Nifty Midcap 100 index was trading at 5467955 after rising 145620 points or 274 per cent Nifty Smallcap 100 index was at 1658460 after climbing 49895 points or 310 per centAccording to analysts Indias markets and economy have demonstrated remarkable resilience consistently transcending external perturbations and geopolitical tensions This strength comes from a steady domesticallyoriented economy which helps protect against global troubles showing that every crisis eventually endsIndias efforts to negotiate trade deals will strengthen global business links and help it sell more worldwide bringing in steady foreign money and making it more competitive Along with balanced global relationships and strong partnerships this creates a relatively stable investment place said Devarsh Vakil Head of Prime Research at HDFC SecuritiesMajor indexes finished the last week narrowly mixed The trade deal announcement between US and UK and reports that US and Chinese officials meeting in Switzerland on the weekend for trade discussions paved the way for broader negotiations and tariff deescalation supported investor sentiment said expertsMeanwhile in the Sensex pack Adani Ports Bajaj Finance Axis Bank Eternal Power Grid NTPC Bajaj Finserv Tata Steel LampT SBI were the top gainers Whereas only Sun Pharma was the top loserIn the Asian markets China Hong Kong and Seoul were trading in green whereas Japan was trading in redIn the last trading session on Friday Dow Jones in the US declined 029 per cent to close at 4124938 The SampP 500 declined 007 per cent to 565991and the Nasdaq closed at 1792892On the institutional front foreign institutional investors FIIs after being net buyers for 16 consecutive sessions turned net sellers on May 9 offloading equities worth Rs 379871 crore In contrast domestic Institutional Investors DIIs remained net buyers investing Rs 727774 crore on the same day IANS https://dailyworld.in/market/bull-run-sensex-surges-over-1-900-points-as-india-pak-tensions-ease-615599.html Mon, 12 May 2025 10:00:00 +0530 https://dailyworld.in/market/sensex-surges-over-2-100-pts-nifty-above-24-650-615605.html Mumbai May 12 Sensex and Nifty surged more than 27 per cent on Monday in the morning trade after India and Pakistan announced a ceasefire following four days of conflict At around 1011 am Sensex was trading 2185 points or 275 per cent up at 8164001 while the Nifty climbed 67280 point or 280 per cent at 2468080According to analysts Indias markets and economy have demonstrated remarkable resilience consistently transcending external perturbations and geopolitical uncertaintiesThis strength comes from a steady domesticallyoriented economy which helps protect against global troubles showing that every crisis eventually endsA thawing of the relationship between India and Pakistan is likely to trigger a massive rebound for benchmark Nifty in early Monday trades That said any fresh violations of the ceasefire deal from Pakistan could keep bullish sentiments fragile said Prashanth Tapse Senior VP Research Mehta EquitiesIndias efforts to negotiate trade deals will strengthen global business links and help it sell more worldwide bringing in steady foreign money and making it more competitive Along with balanced global relationships and strong partnerships this creates a relatively stable investment place added Devarsh Vakil Head of Prime Research at HDFC SecuritiesMajor indexes finished the last week narrowly mixed The trade deal announcement between US and UK and reports that US and Chinese officials meeting in Switzerland on the weekend for trade discussions paved the way for broader negotiations and tariff deescalation supported investor sentiment said expertsMeanwhile in the Sensex pack Adani Ports Bajaj Finance Axis Bank Eternal Power Grid NTPC Bajaj Finserv Tata Steel LampT SBI were the top gainers Whereas only Sun Pharma was the top loserIn the Asian markets China Hong Kong and Seoul were trading in green whereas Japan was trading in redIn the last trading session on Friday Dow Jones in the US declined 029 per cent to close at 4124938 The SampP 500 declined 007 per cent to 565991and the Nasdaq closed at 1792892On the institutional front foreign institutional investors FIIs after being net buyers for sixteen consecutive sessions turned net sellers on May 9 offloading equities worth Rs 379871 crore In contrast domestic Institutional Investors DIIs remained net buyers investing Rs 727774 crore on the same day IANS https://dailyworld.in/market/sensex-surges-over-2-100-pts-nifty-above-24-650-615605.html Mon, 12 May 2025 10:39:00 +0530 https://dailyworld.in/market/sensex-nifty-clock-best-single-day-rally-in-4-years-investors-richer-by-rs-16-lakh-crore-615674.html New Delhi May 12 IANS The understanding for a ceasefire between India and Pakistan brought cheers for investors who were richer by more than Rs 16 lakh crore in a single day as Sensex and Nifty gained a massive nearly 4 per cent in a bull rally seen after February 2021nbspThe Indian stock markets delivered their best singleday performance in four years as positive global and domestic cues boosted market sentimentnbspAt the close of trade Sensex soared 297543 points or 374 per cent to end at 8242990 while Nifty jumped 91670 points or 382 per cent to finish at 2492470This was the secondbiggest percentage gain for both indices in the last four years with the only larger rally recorded on February 1 2021 when the indices rose over 47 per centnbspThe bull rally came amid a string of encouraging developments including an understanding for a ceasefire between India and Pakistan a breakthrough in USChina trade talks and reports of peace negotiations between Russia and UkrainenbspThese developments helped ease geopolitical tensions improving the global risk appetite and lifting investor confidenceAll sectoral indices ended in the green showing a broadbased recovery across sectorsnbspEven the Nifty Pharma index which had opened with a 2 per cent loss after US President Donald Trumps comments about slashing drug prices by up to 80 per cent managed to close 015 per cent higher as the market shrugged off the concernsnbspLeading the charge were the Nifty IT and Nifty Realty indices which rose 6 per cent and 7 per cent respectively Midcap and smallcap stocks also joined the rally outperforming the broader market with gains of 41 per cent eachThe total market capitalisation of all companies listed on the BSE climbed to Rs 43247 lakh crore up from Rs 41652 lakh crore in the previous session a gain of Rs 16 lakh crore in a single daynbspAccording to analysts markets opened the week on a strong footing driven by supportive global and domestic cuesnbspAll major sectors contributed to the rally with IT realty and metals leading the gains The broader markets also mirrored this strength each advancing close to 4 per cent said Ajit Mishra SVP Research Religare Broking LtdThe easing of geopolitical concerns and progress on global trade talks brought significant relief to the markets reflected in a sharp drop in the India VIX volatility indexnbspTechnically the sharp rise in the Nifty marks a continuation of the uptrend following a threeweek consolidation phase Having crossed the previous swing high of around 24857 the index is now poised to inch towards the 25200 level while the 2440024600 zone is expected to offer strong support on any dip said MishraIANS https://dailyworld.in/market/sensex-nifty-clock-best-single-day-rally-in-4-years-investors-richer-by-rs-16-lakh-crore-615674.html Mon, 12 May 2025 16:40:00 +0530 https://dailyworld.in/market/market-outlook-india-pak-tensions-inflation-and-economic-data-key-triggers-for-next-week-615442.html Mumbai May 11 The Indian stock market outlook for next week will be guided by several domestic and international cues such as retail inflation quarterly results US jobless claims data and others Next week companies like SMC Global Bajaj Electricals JM Financial Raymond Tata Steel UPL AB Capital Bharti Airtel Cipla Hero MotoCorp Tata Motors HAL Tata Power and JSW Energy will release their Q4 FY2024 25 resultsIn India inflation will be in focus with the release of CPI YoY data on May 13 providing clarity on consumer price trends and their implications for the Reserve Bank of Indias monetary policy Additionally Exports YoY data on May 15 will shed light on the health of Indias external trade amid global uncertaintiesIn the US the spotlight will be on inflation and consumption metrics On May 13 both CPI MoM MonthonMonth and YoY YearonYear figures will be closely watched for signals on the Federal Reserves policy directionMeanwhile China will release its Money Supply M2 YoY data on May 15 a critical indicator of liquidity and credit growth that could influence monetary easing expectationsBajaj Broking Research said The week of May 13 to 16 2025 brings a slate of crucial economic data releases across India the United States and China which are likely to guide investor sentiment and central bank expectationsLast week the stock market ended lower due to the escalation between India and PakistanThe Sensex declined by nearly 1047 points to settle at 79454 while the Nifty slipped 338 points to close at 24008 both registering a weekly loss of approximately 14 per centSectorwise real estate and PSU banks were the major laggards falling around 65 per cent and 45 per cent respectively while the auto and media sectors bucked the trend to emerge as top gainersPuneet Singhania Director at Master Trust Group said Rising tensions between India and Pakistan are likely to dominate investor sentiment in the coming week creating a cautious undertone in Indian equity markets Any escalation along the border or strong diplomatic developments could lead to uncertaintyAlongside geopolitical concerns the ongoing Q4 corporate earnings season will continue to drive stockspecific action Further developments on both geopolitical and corporate fronts will play a crucial role in determining the market direction he added IANS https://dailyworld.in/market/market-outlook-india-pak-tensions-inflation-and-economic-data-key-triggers-for-next-week-615442.html Sun, 11 May 2025 12:26:00 +0530 https://dailyworld.in/market/sensex-nifty-open-nearly-flat-as-geopolitical-tensions-continue-614768.html Mumbai May 8 The Indian equity indices opened almost flat on Thursday as geopolitical tensions remained high after Operation Sindoor At 926 am Sensex was up 25 points at 80772 and Nifty was down 3 points at 24410Buying was seen in the largecap and midcap stocks Nifty midcap 100 index was up 166 points or 030 per cent at 54445 and Nifty smallcap 100 index was up 132 points or 081 per cent at 16550Among the sectoral index auto IT PSU bank fin service media energy and private bank were trading with gains Pharma FMCG metal realty and infra were trading in the redAs Asian equities are trading in the green mirroring overnight gains in the US markets domestic equity indices too could see a steady positive start in the backdrop of the ongoing IndiaPakistan tensions said analystsHowever the street will react to Jerome Powells statement on higher tariffs post Feds decisions to keep interest rates unchanged said Prashanth Tapse Senior VP Research Mehta EquitiesIn the Sensex pack Tata Motors Kotak Mahindra Bank Power Grid Axis Bank Adani Ports Bajaj Finance HCL Tech Bajaj Finserv Bajaj Finance IndusInd Bank SBI and Tech Mahindra were top gainersEternal ITC Maruti Suzuki HDFC Bank Tata Steel Sun Pharma and ICICI Bank were top losersThe street will now hope for some fruitful trade discussions between the US and China when they meet this weekend Technically Niftys biggest support is seen only at 24171 mark Tapse addedMost Asian stocks rose marginally Tokyo Shanghai Hong Kong and Seoul were trading in the green while Bangkok and Jakarta were in the redThe US markets closed with gains in the last session amid increased hopes for a deescalation in US President Donald Trumps tariff agendaAccording to media reports Trump was set to announce a major trade deal with UK soon IANS https://dailyworld.in/market/sensex-nifty-open-nearly-flat-as-geopolitical-tensions-continue-614768.html Thu, 08 May 2025 10:04:00 +0530 https://dailyworld.in/market/india-to-drop-tariffs-to-nothing-says-trump-614473.html Washington May 6 US President Donald Trump on Tuesday said India has dropped or it will its tariffs on imports from the US to nothing He shared no details on goods and sectors affected The US and India have been negotiating a trade deal that Trump administration officials have said could be one of the first to be announced among the slew of deals under discussion between the US and its other trade partnersSpeaking of the key US demands in these negotiations drop tariffs or grant market access President Trump said India as an example has one of the highest tariffs in the world Were not going to put up with that And theyve agreed already to drop itTheyll drop it to nothing President Trump said in a White House media interaction alongside Canadas Mark Carney Theyve already agreedNo details are available on the IndiaUS trade talks But President Trump has been open about his demands going back to his first term when the two sides had come very close to signing a trade deal which was to be announced during his visit to India in February 2019 Talks fell through and they were not pursued by either country during President Joe Bidens tenureTalks got underway in the runup to and after President Trumps Liberation Day announcement of sweeping tariffs on nearly all of the USs trading partners Imports from India were tariffed at 26 per cent which is currently down to 10 per cent a flat rate the American president announced for all countries in a 90day pause with the exception of China whose goods coming into the US are under a 145 per cent levyScott Bessent the treasury secretary said at a congressional hearing Tuesday the US is currently in talks with 17 of its 18 major trading partners China is the 18th and that he expects to see deals being announced soon He has said in the past that he expected the deal with India to be among the first to be announced IANS https://dailyworld.in/market/india-to-drop-tariffs-to-nothing-says-trump-614473.html Wed, 07 May 2025 00:03:00 +0530 https://dailyworld.in/market/upi-qr-codes-record-915-pc-surge-to-6579-million-credit-card-growth-slows-614334.html Mumbai May 6 UPI QR codes have recorded the fastest growth in digital payments infrastructure in the financial year 202425 with a 915 per cent jump over the previous financial year to 6579 million according to the latest RBI data The surge in UPI QR codes was accompanied by a slowdown in the growth rate of credit card transactions to 794 per cent yearonyear while debit card additions registered a mere 27 per cent growth to 991 millionThe growth in the number of UPI QR codes has been accelerating with the increasing deployment by platforms like Google Pay Paytm and PhonePeThe number of banks going live on UPI continues to increase and the total touched 668 in April which is expected to increase the value of such transactions according to bank officialsMarch saw a record Rs 2477 lakh crore in UPI transactions marking a 25 per cent increase in value and a 36 per cent increase in volume compared to the previous yearUPI has become the dominant method for digital transactions in India Nearly four out of five digital payments in the country were conducted on the Unified Payments Interface UPI in the financial year 2024 FY24 according to the Reserve Bank of Indias annual reportUPIs share compared to the cumulative volume of digital payments in the country has grown steadily from 734 per cent in FY23 to 797 per cent in FY24 In FY20 UPIs share as compared to the volume of total digital payments in India was pegged at 368 per centThe RBI is actively promoting digital payments through various initiatives including the Har Payment Digital campaign which aims to make every person in India aware of digital paymentsRBI also allows flexibility in revising transaction limits for UPI inperson merchant payments allowing NPCI to adjust limits based on user needs with safeguards in place which has made the mode of payment more convenient IANS https://dailyworld.in/market/upi-qr-codes-record-915-pc-surge-to-6579-million-credit-card-growth-slows-614334.html Tue, 06 May 2025 11:57:00 +0530 https://dailyworld.in/market/indian-stock-market-closes-higher-adani-group-shares-surge-614203.html Mumbai May 5 IANS The Indian equity markets opened the week with strong gains on Monday supported by a rally in Adani Group stocks and strength in select auto and banking sharesnbspSensex started the day around 160 points higher at 80662 and climbed to an intraday high of 81049nbspAlthough it gave up some of the gains later in the session the index still ended 295 points up at 80797nbspThe Nifty touched a high of 24526 during the day and eventually closed with a gain of 114 points or 05 per cent at 24461nbspMarkets started the week on a firm footing lifted by steady foreign inflows and optimism around an impending IndiaUS trade deal said Vikram Kasat of PL CapitalStrength in Asian currencies and easing global trade tensions added to the positive sentiment even as activity remained muted in some global markets due to holidays Kasat addednbspThe Adani Group was at the centre of investor attention with shares jumping up to 11 per cent following reports of the companys top executives holding discussions with officials from the US President Donald Trump administration to settle an ongoing US bribery casenbspAdani Ports was the top performer among Sensex stocks soaring 63 per cent Other gainers included Mahindra and Mahindra ITC Power Grid Corporation and Tata MotorsOn the other hand Kotak Mahindra Bank fell 45 per cent making it the biggest loser on the Sensex SBI and Axis Bank also ended the day in the rednbspThe broader market outperformed the benchmark indices The BSE MidCap index jumped 15 per cent while the SmallCap index advanced by 12 per centnbspAmong sectors oil and gas stocks saw notable buying with the BSE Oil and Gas index rising 2 per cent driven by strength in oil marketing companiesnbspConsumer durables energy and FMCG sectors also posted gains of over 1 per cent eachHowever the BSE Bankex ended lower down nearly 1 per cent due to pressure on select banking namesnbspThe upbeat start to the week reflects investor optimism driven by corporate developments and select sectoral momentum market experts notednbspThe rupee traded positive gaining 13 paise to settle at 8432 as sustained FII inflows continue to support the domestic currencynbspGoing ahead the rupee is expected to trade in a range of 8400 to 8475 with continued global risk sentiment and commodity movements guiding intraday volatility Jateen Trivedi of LKP Securities notednbspGold prices surged sharply as expectations of an interest rate cut by the US Federal Reserve this week fuelled strong buyingIANS https://dailyworld.in/market/indian-stock-market-closes-higher-adani-group-shares-surge-614203.html Mon, 05 May 2025 16:24:00 +0530 https://dailyworld.in/market/nifty-sensex-open-higher-adani-ports-among-top-gainers-614111.html Mumbai May 5 Indian equity indices opened in the green on Monday as heavyweights like Adani Ports Asian Paints Titan and Tata Motors continued to support upward movement Around 922 am Sensex was up 280 points or 035 per cent at 80782 and Nifty was up 90 points or 037 per cent at 24436 Buying was seen in midcap and smallcap stocks Nifty midcap 100 index was up 321 points or 06 per cent at 54026 and Nifty smallcap 100 index was up 4 points at 16446 After a positive opening Nifty can find support at 24300 followed by 24200 and 24000 On the higher side 24500 can be an immediate resistance followed by 24600 and 24800 said Hardik Matalia of Choice BrokingOn the sectoral front auto IT pharma FMCG and infra major gainers PSU bank media realty were major laggards In the Sensex pack Adani Ports Asian Paints Titan Bajaj Finserv MampM Power Grid HCL Tech Tata Motors TCS Infosys HDFC Bank and ITC were top gainers Kotak Mahindra Bank SBI LampT and IndusInd Bank were major losers Major regional markets including Tokyo Shanghai Hong Kong and Seoul were closed for their respective public holidays while Australian markets was trading in the red The US market closed with gains on Friday Technology index Nasdaq surged 151 per cent during the session Devarsh Vakil Head of Prime Research at HDFC Securities said markets continue to navigate geopolitical developments and evolving legal uncertainties which may influence shortterm price action amid the broader recovery trend Traders should consider maintaining moderate positions as these factors play out The foreign institutional investors FIIs remained net buyers for the 12th consecutive session on May 2 as they bought equities of Rs 2769 crore Domestic institutional investors DIIs also bought equities of Rs 3290 crore Previously net sellers FIIs have reversed course by covering their short positions in index derivatives and becoming large buyers in cash markets They are attracted by sector rotation opportunities and a strengthening rupee that enhances their dollaradjusted returnsAnalysts said that markets continue to navigate geopolitical developments and evolving legal uncertainties which may influence shortterm price action amid the broader recovery trend IANS https://dailyworld.in/market/nifty-sensex-open-higher-adani-ports-among-top-gainers-614111.html Mon, 05 May 2025 09:56:00 +0530 https://dailyworld.in/market/market-value-of-seven-top-companies-jumps-by-rs-231-lakh-crore-614012.html Mumbai May 4 In a positive week for the Indian stock market seven of the top ten most valuable companies saw their market valuations increase by a total of Rs 231 lakh crore The equity market sentiment was generally upbeat contributing to these gainsThe companies that experienced an increase in their market value included HDFC Bank Bharti Airtel ICICI Bank State Bank of India SBI Infosys ITC and Tata Consultancy Services TCSOn the other hand Bajaj Finance Hindustan Unilever and TCS saw a dip in their valuations during the weekThe Bombay Stock Exchange BSE benchmark index gained 128946 points or 162 per cent during the week despite the market being closed for Maharashtra Day on ThursdayAmong the companies that gained HDFC Bank saw its market valuation rise by Rs 1151478 crore bringing its total to Rs 147335695 croreBharti Airtel added Rs 2075567 crore taking its valuation to Rs 105602991 crore ICICI Bank increased its market value by Rs 193819 crore reaching Rs 102020069 croreInfosys gained Rs 1090231 crore with its market cap reaching Rs 62566837 croreITC added Rs 250282 crore bringing its valuation to Rs 53829486 crore SBI saw an increase of Rs 11602 crore taking its market value to Rs 71401423 croreHowever three companies saw a decrease in their market capitalisation Bajaj Finance lost Rs 154705 crore reducing its valuation to Rs 55072680 croreHindustan Unilever saw a decline of Rs 198541 crore bringing its market worth down to Rs 54584529 croreTCS lost Rs 128442 crore ending the week with a valuation of Rs 124599698 croreDespite these fluctuations the most valuable companies in India include HDFC Bank TCS Bharti Airtel ICICI Bank SBI Infosys Bajaj Finance Hindustan Unilever and ITCMeanwhile in the previous week the combined market value of six of Indias top 10 most valued companies surged by Rs 11862624 crore IANS https://dailyworld.in/market/market-value-of-seven-top-companies-jumps-by-rs-231-lakh-crore-614012.html Sun, 04 May 2025 17:27:00 +0530 https://dailyworld.in/market/sensex-nifty-trade-in-green-amid-positive-global-cues-613828.html Mumbai May 2 The Indian stock indices opened in the green on Friday following positive cues from the global markets At 922 am Sensex was up 350 points or 044 per cent at 80592 and Nifty was up 71 points or 029 per cent at 24407Midcap and smallcap indices were trading flat compared to largecap Nifty midcap 100 index was up 40 points or 008 per cent at 54185 Nifty smallcap 100 index was down 12 points at 16436Among the sectoral indices auto PSU bank private bank financial services metal and realty were major gainers Pharma FMCG and media were major laggardsAccording to analysts on the technical front Nifty 50 continues to consolidate in a narrow range forming a neutral candlestick pattern On the hourly chart a flag and pole pattern are developing suggesting a possible bullish breakoutIf Nifty sustains above 24400 it can potentially head towards 24500 and 24700 levels Immediate support levels are placed at 24200 24100 and 24000 offering dipbuying opportunities said Mandar Bhojane from Choice BrokingIn the Sensex pack Adani Ports Maruti Suzuki IndusInd Bank Axis Bank ICICI Bank MampM Tata Motors TCS Infosys HDFC Bank NTPC and SBI were top gainers Nestle Titan Bajaj Finserv HUL Power Grid and Bajaj Finance were the top losersThe international markets were trading with gains Tokyo Hong Kong Seoul Jakarta and Bangkok were in the greenThe US market also closed with gains on Thursday In the last session the technology index Nasdaq surged more than 15 per centMeanwhile Brent crude was at 6262 per barrel with a gain of about one per centOn the institutional front FIIs continued their buying streak for the 11th consecutive session albeit with a modest net buy figure of Rs 50 croreMeanwhile DIIs showed stronger conviction purchasing equities worth Rs 1792 crore The combined flow suggests a supportive undertone for the Indian equitiesDevarsh Vakil Head of Prime Research at HDFC Securities said that overall trend for the Nifty remains bullish as it continues to trade above all key moving averages IANS https://dailyworld.in/market/sensex-nifty-trade-in-green-amid-positive-global-cues-613828.html Fri, 02 May 2025 16:37:00 +0530 https://dailyworld.in/market/sensex-closes-in-green-during-volatile-trade-nifty-ends-at-24-336-613522.html Mumbai April 29 Domestic equity benchmark indices went through a volatile session on Tuesday with stockspecific activity taking the spotlight amid geopolitical tensions Sensex opened on a positive note of almost 180 points at 80396 and surged to an intraday high of 80661 However the index quickly erased its gains dipping into the negative zone and reaching a low of 80122 which was 539 points down from its highest point of the dayDespite this Sensex made a recovery and closed 70 points or 01 per cent higher at 80288Similarly Nifty opened on a positive note at 24370 and touched an intraday high of 24457 during the early hours of tradeHowever the index faced selling pressure at higher levels and slipped to an intraday low of 24290 The index finished the trading session with a marginal gain of seven points at 24336Investors maintained a cautious stance amid uncertainty surrounding the potential impact of US President Donald Trumps tariffs said Sundar Kewat of Ashika Institutional EquityHe added that market participants are closely monitoring upcoming corporate earnings and key economic data from Wall Street to assess the broader implications of these trade measures on corporate performance and economic momentumMajor gainers included Tech Mahindra Eternal formerly known as Zomato HCL Technologies Bajaj Finserv Infosys and TCS all rising by 1 to 2 per centOn the downside UltraTech Cement and Sun Pharma saw a decline of 2 per cent each with Kotak Mahindra Bank NTPC SBI and Nestle India also facing lossesIn the broader market the BSE MidCap index increased by 02 per cent and the SmallCap index added 01 per centSectorwise the BSE IT and Capital Goods indices rose by 1 per cent each while the Metal index dropped by 1 per cent and both the Power and Bankex indices declined by 05 per centHrishikesh Yedve from Asit C Mehta Investment Intermediates Ltd a Pantomath Group Company said that technically the Nifty index formed a shooting star candle on the daily chart signalling selling pressure at higher levels with 24460 acting as a shortterm hurdle Sustaining above this level could lead to a rally toward 2480024850 On the downside key support lies at the 200Day Simple Moving Average around 24050 followed by 23850 Traders should monitor these levels for potential trading opportunities he mentioned IANS https://dailyworld.in/market/sensex-closes-in-green-during-volatile-trade-nifty-ends-at-24-336-613522.html Tue, 29 Apr 2025 17:17:00 +0530 https://dailyworld.in/market/market-outlook-q4-results-auto-sales-and-global-cues-key-triggers-for-next-week-613134.html Mumbai April 27 The market outlook for next week will be influenced by several domestic and global cues such as Q4 results for FY25 IIP amp FII data and economic data from the US Next week major companies like Adani Green Adani Total Gas KPIT Tech TVS Motors Ambuja Cements Bajaj Finserv Bajaj Finance BPCL Adani Power JSW Infra and Vedanta will announce their March quarter resultsIn India attention will be on the Industrial Production YoY data for March scheduled for release on April 28 which will offer insights into the strength of the countrys manufacturing and industrial sectors according to Bajaj Broking ResearchIn the United States April 30 will be packed with significant releases including the ADP Nonfarm Employment Change for April and the preliminary GDP data QoQ for the first quarter both of which are critical indicators for assessing the labour market and overall economic growthThe Broking firm further said together these releases are expected to drive market movements influence central bank outlooks and keep volatility elevated into the start of MayLast week the Indian stock market closed with gains During this period both Sensex and Nifty rose by about 080 per cent and closed at 7921253 and 2403935 respectivelyThe positive momentum was largely supported by progress in the bilateral trade agreement between India and the United States alongside easing concerns over the USChina trade dispute both of which lifted investor sentimentOn a sectoral basis the IT index emerged as the top performer with a weekly gain of 656 per cent while the Media sector underperformed declining by 211 per centForeign Portfolio Investors FPIs turned aggressive net buyers attracted by favourable valuations particularly in the financial space FPIs infused approximately Rs 17800 crore into the cash segment during the week while Domestic Institutional Investors DIIs added around Rs 1132 croreThe stock market will be closed on May 1 on the occasion of Maharashtra DayPuneet Singhania Director at Master Trust Group said The Nifty 50 saw a 079 per cent rise this week marking its second consecutive gain signalling a positive market trend The index closed above the key psychological level of 24000 a significant technical barrierImmediate support levels are placed at 23800 and 23500 which also align with the 21DEMA On the upside resistance is seen at 24360 and a move above this may open the path toward 24700 he added IANS https://dailyworld.in/market/market-outlook-q4-results-auto-sales-and-global-cues-key-triggers-for-next-week-613134.html Sun, 27 Apr 2025 11:58:00 +0530 https://dailyworld.in/market/foreign-investors-make-notable-return-to-indian-equity-markets-in-april-612985.html New Delhi April 26 Foreign investors have made a notable return to Indian equity markets this month emerging as net buyers over the past two weeks analysts said on Saturday In just the last seven trading sessions foreign portfolio investors FPIs have turned decisively positive on Indian equities This shift is largely attributed to a weakening US dollar revisit of tariff agreements and a renewed sense of optimism surrounding Indias economic trajectoryAmid a challenging global backdrop marked by sluggish growth in major economies like the United States and China India continues to stand out higher for its economic resilience said Manoj Purohit Partner and Leader FS Tax Tax and Regulatory Services BDO IndiaIndia is forecast to grow at a robust rate of over 6 per cent in FY26 and remains the only fastestgrowing economy making it a compelling destination for global investorsFPI inflows are expected to remain strong in the near term providing additional support to the ongoing market rally As global investors reassess their strategies Indias economic fundamentals and earnings potential position it as a beacon of stability and growth in a turbulent events happening globally Purohit explainedThis month till April 24 FPIs purchased equities worth Rs 2271643 crore while they sold equities worth Rs 1719633 crore with net investment of Rs 55201 croreLast month FPIs ramped up buying in the second half of March 2025 driving a recovery in select sectors BFSI led the inflows with a turnaround from 380 million selling to 2055 million buying netting 1675 million for the monthTelecommunications and metals and Mining also saw net inflows of 360 million and 219 million respectively according to a recent note by Bajaj Broking Overall FPI interest remained focused on BFSI with most other sectors facing continued selling pressureWith a strong economic outlook policy reforms and a resilient market India remains an attractive destination for global capital The governments continued focus on infrastructure digital growth and ease of doing business further boosts investor confidenceThe recent move by RBI to keep the existing corporate bond and Gsec limits unchanged for foreign portfolio investors FPIs is a testimony of the governments intent to keep gateway open for offshore participants to continue infusing funds in India market IANS https://dailyworld.in/market/foreign-investors-make-notable-return-to-indian-equity-markets-in-april-612985.html Sat, 26 Apr 2025 12:39:00 +0530 https://dailyworld.in/market/indian-stock-markets-extend-recovery-this-week-amid-geopolitical-tensions-612995.html New Delhi April 26 The Indian stock markets extended their recovery for yet another week registering nearly a one per cent gain amid a phase of consolidation After an initial surge the benchmarks traded in a narrow range through the middle of the week before witnessing profittaking in the final session Ultimately the Nifty and Sensex ended at 2403935 and 7921253 respectivelyAccording to analysts global market stability driven by ongoing discussions between the United States and its trade partners on new trade agreements helped ease concerns about the impact of tariffs on global commerceThis coupled with renewed foreign institutional investor FII inflows bolstered market sentiment However rising geopolitical tensions between India and Pakistan following a terrorist attack in Jammu and Kashmir sparked investor caution and led to some profitbooking said Ajit MishraSVP Research Religare Broking LtdSectorwise the sharp rebound in the IT sector stood out as a key driverAdditionally the auto pharma and real estate sectors also posted gains Conversely financials and fastmoving consumer goods FMCG sectors ended the week in the red Broader market indices managed to close in the green delivering gains in the range of 083 per cent to 173 per centAccording to a note by Bajaj Broking Research index on weekly chart has formed a bull candle with a long upper shadow which maintained a higher high and higher low signalling positive bias with profit booking at higher levels after recent strong up moveGoing ahead in the coming truncated week a move above last 3 sessions almost identical high 24365 will open further upside towards 24550 being the 618 per cent retracement of the entire decline 2627721743 Failure to move above last week high 24365 will signal consolidation in the range 2350024350 the note saidBank Nifty formed a bear candle with a lower high and lower low signalling consolidation with corrective bias for the third session in a row amid profit booking after recent strong rally of 11 per cent in the preceding 7 sessionsWe expect index to consolidate in the range of 5350055500 in the coming sessions thus working off the overbought condition developed after the recent strong rally said Bajaj Broking ResearchIn the current scenario it is advisable to maintain a positive yet cautious approach with a preference for hedged positions in the indexStockspecific opportunities are likely to remain abundant on both the long and short sides Hence the focus should be on identifying stocks with favourable riskreward setups said market watchersOn the macroeconomic front investors will closely track the Index of Industrial Production IIP data and the HSBC Manufacturing PMI Final data Meanwhile geopolitical developments between India and Pakistan will remain on the radar IANS https://dailyworld.in/market/indian-stock-markets-extend-recovery-this-week-amid-geopolitical-tensions-612995.html Sat, 26 Apr 2025 13:58:00 +0530 https://dailyworld.in/market/indias-equity-markets-emerge-resilient-amid-global-trade-war-shocks-612920.html Mumbai April 25 Indias equity market has shown its resilience despite global uncertainties and is wellpositioned in a world reshaped by trade and tariffs a report said on Friday The BSE 500 recorded a 625 per cent gain in March its best monthly performance in 15 months indicating that much of the market excess has likely been correctedIndias macro fundamentals are notably resilient GDP growth is projected at 65 per cent in FY25 supported by strong domestic consumption capex and manufacturing upcycle according to the report by PL Asset Management the asset management arm of PL Capital Group Prabhudas LilladherThe March Manufacturing PMI rose to 581 an eightmonth high while industrial output expanded 5 per cent YoY in JanuaryThe reemergence of USChina trade tensions in April 2025 has impacted global indices echoing the market behaviour last seen during the 2018 trade warWhile indices like the SampP 500 and Nasdaq fell by 13 per cent and 11 per cent respectively Indias Nifty 50 remained relatively resilient falling just 3 per centSpreads for higher risk factors are near zero a point from which historically markets have entered a recovery phase In recent months Quality factor bottomed out and were now seeing early signs of a rotation back towards Value suggesting a market tilt towards fundamentally cheaper cyclical names the report mentionedMomentums dominance has faded sharply as investors shift focus to low volatility The Smallcap outperformance has unwound with rotation back into Largecaps reflecting a market preference for size and stability These are signs as the market positions itself for a recovery phaseThe recent trend in early 2025 shows a moderate rise in stocks near their lows suggesting caution among investors amid potential uncertainties or corrections However with extreme pessimism already built in this could signal that a rebound is on the horizon as markets begin to price in a potential turnaround the report notedAs global markets recalibrate to a world shaped by geopolitical fragmentation and macro uncertainty our strategies remain focused on adaptive quantitative frameworks that capture alpha across cycles said Siddharth Vora Fund Manager PL Asset Management Executive Director PL Capital Prabhudas Lilladher IANS https://dailyworld.in/market/indias-equity-markets-emerge-resilient-amid-global-trade-war-shocks-612920.html Fri, 25 Apr 2025 14:28:00 +0530 https://dailyworld.in/market/indian-stock-market-ends-lower-on-profit-booking-after-7-day-bull-rally-612794.html Mumbai April 24 The Indian stock market ended lower on Thursday as investors booked profits after a strong sevenday bull rally Sentiments were also hit by the Pahalgam terror attack along with the expiry of the April derivatives contracts on the National Stock Exchange NSEThe Sensex opened slightly lower at 80058 and briefly touched a high of 80174 in early trade However selling pressure dragged the index down through the dayIt fell to an intraday low of 79725 before settling at 79801 down 315 points With this the Sensex snapped its sevenday winning streak during which it had jumped 6269 pointsThe Nifty also saw a similar trend It traded within a narrow range of 131 points moving between a high of 24348 and a low of 24216The Nifty finally closed at 24247 down 82 points Despite Thursdays fall the Nifty managed to post a gain of 656 points or 28 per cent in the April futures and options seriesMarkets remained subdued trading within a narrow range on the monthly expiry day of the April derivatives contracts and ended slightly lower said Ajit MishraSVP Research Religare Broking LtdHe added that this phase of consolidation in the index is in line with expectations and may continue in the coming sessionsTherefore we recommend maintaining a focus on stock selection and using market dips as buying opportunities Mishra mentionedAmong the top losers Hindustan Unilever slipped 4 per cent after it reported a slight decline in its March quarter net profitBharti Airtel ICICI Bank and Eternal Zomato also ended 12 per cent lower On the other hand IndusInd Bank was the top gainer rising over 3 per cent UltraTech Cement Tata Motors and Titan also ended in the greenIn the broader market the BSE MidCap index was down 02 per cent while the SmallCap index closed flatSectorwise FMCG stocks came under pressure with the BSE FMCG index falling 08 per cent Realty stocks were also weak dragging the sectoral index down by 14 per centBanking stocks saw mild selling as the BSE Bankex lost 04 per cent However healthcare stocks saw buying interest and the index ended 06 per cent higherCement stocks were among the top performers in Thursdays trade Market experts believe some profittaking was expected after the recent strong rally and geopolitical concerns added to the nervousnessInvestors will now focus on upcoming earnings and global cues for further direction analysts noted IANS https://dailyworld.in/market/indian-stock-market-ends-lower-on-profit-booking-after-7-day-bull-rally-612794.html Thu, 24 Apr 2025 18:06:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-higher-it-stocks-shine-612574.html Mumbai April 23 The domestic benchmark indices opened in green on Wednesday amid positive global cues as buying was seen in the IT and auto sectors in the early trade At around 932 am Sensex was trading 5364 points or 067 per cent up at 8013201 while the Nifty added 15010 points or 062 per cent at 2431735Nifty Bank was up 18710 points or 034 per cent at 5583430 The Nifty Midcap 100 index was trading at 5475685 after adding 35970 points or 066 per cent Nifty Smallcap 100 index was at 1701320 after climbing 10955 points or 071 per centAccording to market watchers despite speculation surrounding US President Donald Trumps influence on Federal Reserve policies Niftys technical outlook remains robust above its 200DMA at 24051The next target for Nifty is pegged at 24858 with immediate supports at psychological levels of 24000 and its 100DMA at 23397 Positive catalysts include Indias potential gains amidst USChina trade tensions said Prashanth Tapse Senior VP Research Mehta EquitiesMeanwhile in the Sensex pack HCL Tech Tech Mahindra Infosys IndusInd Bank TCS and Tata Motors were the top gainers Whereas only Kotak Mahindra Bank and Asian Paints were the top losersIn the last trading session Dow Jones in the US added 266 per cent to close at 3918698 The SampP 500 climbed 251 per cent to 528776 and the Nasdaq added 271per cent to close at 1630042President Trumps message that he has no intention of firing the Fed chief has calmed the US markets Trumps remarks on Chinese tariffs indicate that he might reduce the USChina tensions The sustained buying by FIIs is a strong support to Indian markets said expertsIn the Asian markets Jakarta Seoul Japan Hong Kong Bangkok and China were trading in greenThe foreign institutional investors FIIs bought equities worth Rs 129043 crore on April 22 Meanwhile domestic institutional investors DIIs sold equities of Rs 88563 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-higher-it-stocks-shine-612574.html Wed, 23 Apr 2025 14:27:00 +0530 https://dailyworld.in/market/market-valuation-of-top-10-companies-surges-by-over-3-lakh-core-hdfc-bank-biggest-gainer-612252.html Mumbai April 20 The combined market capitalisation of the top 10 mostvalued companies surged by Rs 384 lakh crore last week driven by a bullish trend in equities HDFC Bank and Bharti Airtel emerged as the top performers Despite the twoday holiday the stock market surged over 4 per cent last week Nifty rose 1023 points or 448 per cent to close at 23851 and Sensex rose 3395 points or 452 per cent to close at 78553HDFC Banks market capitalisation surged by Rs 7648395 crore to Rs 145893432 croreBharti Airtels market valuation grew by Rs 7521077 crore taking the companys market cap to Rs 107724174 croreICICI Bank gained Rs 67597 crore pushing its valuation to Rs 100194886 crore while State Bank of India added Rs 3842049 crore reaching Rs 71138146 croreTata Consultancy Services TCS saw an increase of Rs 2411455 crore bringing its market value to Rs 119358898 croreThe market cap of Bajaj Finance rose by Rs 1471285 crore to Rs 56806113 croreThe market cap of ITC grew by Rs 68202 crore to Rs 53466577 croreThe market capitalisation of Infosys rose by Rs 398714 crore to Rs 58984648 croreHindustan Unilevers valuation climbed Rs 189142 crore to Rs 55794569 croreThe announcement of a temporary pause on tariffs by the US and prospects of negotiations with other countries have also contributed to this relief rally Furthermore the RBIs 25 bps rate cut on April 9 which brought the repo rate down to 6 per cent along with a shift in its stance from neutral to accommodative added fresh momentum to the equity markets as investors priced in further monetary easingOver the last three trading sessions foreign portfolio investors have purchased over 1 billion worth of Indian equities after a prolonged selling streak IANS https://dailyworld.in/market/market-valuation-of-top-10-companies-surges-by-over-3-lakh-core-hdfc-bank-biggest-gainer-612252.html Sun, 20 Apr 2025 14:31:00 +0530 https://dailyworld.in/market/not-appropriate-to-discuss-security-amp-trade-together-with-us-japanese-pm-612269.html Tokyo April 20 Japanese Prime Minister Shigeru Ishiba said on Sunday that it would not be appropriate to discuss security and trade together with the US I dont think it is appropriate to discuss security and trade together We should address security issues without linking them to tariffs the Japanese Prime Minister told a local TV program days after his close aide met Trump and senior US officials on the recently increased tariffsOn negotiations the Prime Minister said They must produce a desirable outcome for both sides We want to take the necessary time to create a model for the worldHe reiterated that he would visit the US at the most appropriate timeHe said that he Trump considers cutting the US trade deficit with other countries is Trumps top priority The Prime Minister further pledged to assess Japans automobile regulations to facilitate negotiations with the USWe will work hard to ensure that Japan is not accused of being unfair said the Prime MinisterExpressing concern over the negative impact of the USChina titfortat tariff escalation Ishiba assured that Japan as a leader in free trade will bolster cooperation with the Association of Southeast Asian Nations and the European UnionEarlier this week Akazawa Ryosei Minister in charge of Economic Revitalisation of Japan visited the US and held a meeting on JapanUS Consultation on US Tariff Measures with President Trump US Treasury Secretary Scott Bessent and others concerning US tariff measuresLater addressing a press conference regarding the meeting PM Ishiba said that the consultations going forward will continue to be challenging but President Trump himself said that he places topmost priority on consultations with JapanPM Ishiba also spoke with President Trump on the telephone to discuss new US tariffsIshiba told Trump that they should seek cooperation that can benefit both nations not tariffs as he expressed concern that the US tariffs could weaken the investment capacity of Japanese companies Kyodo News reported IANS https://dailyworld.in/market/not-appropriate-to-discuss-security-amp-trade-together-with-us-japanese-pm-612269.html Sun, 20 Apr 2025 18:19:00 +0530 https://dailyworld.in/market/indian-stock-markets-rally-over-45-pc-in-holiday-shortened-week-612103.html Mumbai April 19 Indian benchmark indices wrapped up the week on a strong recovery by surging over 45 per cent driven by positive signals from both domestic and global factors experts said on Saturday The benchmark indices opened with significant gains and continued to build momentum throughout the weekAs the week ended both the Nifty and Sensex closed near their highs at 2385165 and 7855320 respectivelyThe Nifty index has been trading within a range of 2170023800 for the past couple of months and has now reached the higher end of this range It has also reclaimed important moving averages the 100 and 200day EMAs said Ajit Mishra SVP Research Religare Broking LimitedAs the positive momentum continues there is potential for the index to target the 2425024600 zone in the coming weeks he addedBanking stocks were the standout performers rallying due to easing retail inflation data and a favourable monsoon forecastThis fuelled optimism about potential rate cuts by the Reserve Bank of India RBI The positive sentiment was further boosted by optimism surrounding deferrals of tariffs and exemptions for select products raising hopes that trade tensions might ease in the futureThere were no major negative surprises from global markets which also helped sustain the bullish sentiment These developments helped to support the rally throughout the weekThe decline in the volatility index India VIX also signals a reduction in market uncertainty after a period of recent volatility Mishra mentionedLooking ahead the current recovery trend seems likely to continue A buy on dips strategy is recommended as long as the Nifty stays above the 23000 mark he addedAccording to Bajaj Broking Research report volatility is expected to remain elevated amid tariffrelated development and the progress of the Q4 earnings seasonDips if any in the coming week should be used as buying opportunity with key support placed at 23200 levels the report said IANS https://dailyworld.in/market/indian-stock-markets-rally-over-45-pc-in-holiday-shortened-week-612103.html Sat, 19 Apr 2025 13:06:00 +0530 https://dailyworld.in/market/blusmart-shutdown-10-000-drivers-stranded-demand-immediate-payment-612170.html New Delhi April 19 Over 10000 driver partners of BluSmart have been left confused and without income after the electric ridehailing company abruptly suspended its services The unexpected shutdown has not only affected daily commuters but has also sparked outrage among the platforms drivers who say they were not informed in advanceThe Gig Workers Association GigWA raised strong concerns about the sudden suspension and said that drivers have been left without clarity on their employment statusThe association claimed that many drivers are still awaiting their pending payments and weekly incentives of Rs 8000 that were promised by the companyThis unexpected halt has left thousands of drivers without income or clarity about their employment status GigWA said in a statementThe group is demanding immediate payment of all pending dues along with compensation worth three months income for each affected driver to help them deal with the sudden loss of workThe situation follows serious allegations against BluSmarts cofounder Anmol Jaggi who has been accused by the Securities and Exchange Board of India SEBI of misusing funds meant for electric vehicle procurementSEBI has launched a forensic investigation into Gensol a company linked to BluSmart in connection with the matterDriver partners say they have been left completely in the dark Many of them do not own the cars they drive and are now worried about their futureGigWA has also urged the company to arrange alternative employment opportunities for the displaced driversThe sudden cessation of BluSmarts services has not only disrupted the lives of its drivers but also raised concerns about the accountability of platformbased companies towards their workforce it saidNitesh Kumar Das Organising Secretary of GigWA warned that if BluSmart does not meet their demands the drivers will take to the streets in protestUntil the service suspension BluSmart had over 10000 active driver partners on its platform IANS https://dailyworld.in/market/blusmart-shutdown-10-000-drivers-stranded-demand-immediate-payment-612170.html Sat, 19 Apr 2025 19:55:00 +0530 https://dailyworld.in/market/india-records-115-fold-leap-in-ev-sales-in-last-5-years-611977.html New Delhi April 18 India has crossed an important milestone with more than two million EVs sold in the financial year that ended on March 31 this year 202425 This is the highest ever sales in a single fiscal year with a 156 per cent jump from 175 million sales in FY2024 according to a JMK Research report Since FY2020 EV sales have grown over 115 times thanks to growing public interest better charging infrastructure and strong support from the government the report statesElectric twowheelers led the charge dominating the market with nearly 60 per cent of the total electric vehicle sales in India which translates to around 12 million units This segment enjoyed a yearonyear growth of approximately 20 per centSince FY2020 the segment has expanded by over 42x times reflecting the increasing preference for escooters and ebikes among urban commuters seeking costeffective ecofriendly alternatives the report saidIn a close second the electric threewheeler segment the second largest by volume has experienced rapid expansion and competitiveness In FY2025 the E3W passenger sales were at 609762 units representing a YoY rise of around 9 per cent The E3W cargo segment experienced a maximum YoY growth of almost 26 per cent driven by the thriving logistics and ecommerce sectors as well as favourable cost economics the report statesMeanwhile the electric car segment though smaller in comparison continues to show steady progress With 110748 units sold a YoY growth of 12 per cent it makes up around 55 per cent of total electric vehicle sales in IndiaLastly the electricbus sales experienced a slight decline by 38 per cent in FY2025 reaching 3570 units Although the growth is expected to accelerate in the coming years driven by the targets and focused incentives under the PM EDRIVE scheme which are poised to boost the adoption of ebuses across major cities in the country the report added IANS https://dailyworld.in/market/india-records-115-fold-leap-in-ev-sales-in-last-5-years-611977.html Fri, 18 Apr 2025 14:28:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-in-red-it-stocks-drag-611761.html Mumbai April 17 After three consecutive days of gains the domestic benchmark indices opened in red on Thursday amid weak global cues as selling was seen in the IT and auto sectors in the early trade At around 927 am Sensex was trading 33813 points or 044 per cent down at 7670616 while the Nifty declined 12075 points or 052 per cent at 2331645Nifty Bank was up 6225 points or 012 per cent at 5318000 The Nifty Midcap 100 index was trading at 5230065 after declining 4490 points or 009 per cent Nifty Smallcap 100 index was at 1634785 after declining 140 points or 001 per centAccording to market watchers after a negative opening Nifty can find support at 23300 followed by 23200 and 23000 On the higher side 23500 can be an immediate resistance followed by 23600 and 23800The charts of Bank Nifty indicate that it may get support at 52800 followed by 52500 and 52300 If the index advances further 53300 would be the initial key resistance followed by 53500 and 53800 said Hardik Matalia Derivative Analyst of Choice BrokingMeanwhile in the Sensex pack HCL Tech Tech Mahindra Infosys Tata Steel TCS LampT MampM Bajaj Finance Titan Asian Paints Nestle India Tata Motors were the top losers Whereas ICICI Bank Bharti Airtel Sun Pharma NTPC and HDFC Bank were the top gainersIn the last trading session Dow Jones in the US declined 173 per cent to close at 3966939 The SampP 500 declined 224 per cent to 527570 and the Nasdaq declined 307 per cent to close at 1630716In the Asian markets Jakarta was trading in red Whereas Japan Seoul China Bangkok and Hong Kong were trading in greenThe foreign institutional investors FIIs extended buying on second day on April 16 as they bought equities worth Rs 393642 crore However domestic institutional investors DIIs extended their selling on second session as they sold equities of Rs 251277 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-in-red-it-stocks-drag-611761.html Thu, 17 Apr 2025 09:55:00 +0530 https://dailyworld.in/market/rbi-to-take-rate-cut-down-to-55-pc-in-fy26-cpi-inflation-to-average-37-pc-hsbc-611588.html New Delhi April 16 The RBI has already embarked on a rate cutting cycle and a report by HSBC Global Research said on Wednesday that it expects a 25bp rate cut in each of the June and August policy meetings taking the repo rate down to 55 per cent this fiscal FY26 Furthermore it also expects easy liquidity conditions to persist and help in the transmission of rate cutsThe CPI inflation in March came in at 33 per cent lower than the market expectation of 35 per centFood prices remained in deflation for the third month down 07 per cent onmonth led by falling vegetable pulses and egg fish and meat pricesThe sequential momentum in cereal and milk prices was benign while that of sugar and fruits was highThe April inflation print is trending close to March levels Vegetable prices in the first 10 days of April have eased by 0 to 5 per cent onmonth on the back of a sharp fall in onion and tomato prices said the HSBC reportIt forecasts CPI headline inflation to average 37 per cent in FY26 well below RBI target and forecast of 4 per centFood inflation is likely to fall further from April onwards when the new wheat crop hits the marketFurthermore the IMD has issued a normal monsoon forecast for 2025 Core inflation too will likely remain soft led by the recent appreciation of the rupee imported disinflation from China softer oil prices and weaker domestic growth said the reportAt the wholesale level too March prices remained benign with WPI inflation easing at a faster clip than CPI inflation for core categoriesThe February Index of Industrial Production IIP grew 29 per cent onyear lower than market expectation of 36 per centOur framework of 100 indicators of growth shows that the March quarter looks better than previous two quarters but remains well below June 2024 66 per cent indicators are in the positive vs 62 per cent in the December quarter the report mentioned IANS https://dailyworld.in/market/rbi-to-take-rate-cut-down-to-55-pc-in-fy26-cpi-inflation-to-average-37-pc-hsbc-611588.html Wed, 16 Apr 2025 14:06:00 +0530 https://dailyworld.in/market/sensex-rises-for-3rd-day-nifty-near-23-450-as-banks-lead-rally-611612.html Mumbai April 16 IANS The Indian stock markets on Wednesday continued their upward journey for the third straight trading session with strong buying seen in financial stocks especially private banks and some oil and gas sharesnbspThe Sensex opened 262 points higher at 76996 but slipped into the red to a low of 76544 amid weak global cues as USChina trade tensions escalated It later rebounded rising 556 points from the days low to a high of 77110 and ended the session at 77044 up 309 points or 04 per centnbspWith this the Sensex has gained 3197 points in the last three trading sessionsThe Nifty also showed similar movement It touched a low of 23273 before recovering to a high of 23452 The index ended the day near its high at 23433 gaining 10460 points or 045 per cent In the last three days the Nifty has risen by 1038 pointsnbspAmong the major gainers on the Nifty were IndusInd Bank Axis Bank Trent ONGC and Asian PaintsnbspOn the other hand Maruti Suzuki Bajaj Finance and Tata Motors were among the top losers Sectorwise all indices except auto ended in the greennbspMedia PSU banks and oil and gas stocks were the best performers with gains of 12 per cent The broader market also showed strength as both the BSE Midcap and Smallcap indices rose by 05 per cent eachMeanwhile equity markets in other Asian countries remained under pressure as US President Donald Trump threatened to impose up to 245 per cent tariff on Chinese imports which affected investor sentimentnbspThe Hang Seng and Taiwan indices dropped nearly 2 per cent each while Kospi and Nikkei were down more than 1 per centOn the daily chart the index has closed above the 100EMA for the second consecutive session Support is now placed at 23300 and a positive sentiment is likely to prevail as long as it remains above this level Rupak De of LKP Securities saidDilip Parmar from HDFC Securities said that bolstered by foreign investment inflows a weaker US dollar and encouraging highfrequency economic data the rupee has appreciated for the third consecutive day The nearterm outlook suggests a bearish bias for the USDINR with support level around 8540 and resistance 8605IANS https://dailyworld.in/market/sensex-rises-for-3rd-day-nifty-near-23-450-as-banks-lead-rally-611612.html Wed, 16 Apr 2025 16:38:00 +0530 https://dailyworld.in/market/indias-organic-food-exports-register-35-pc-jump-to-cross-665-million-in-fy25-611553.html New Delhi April 16 Indias export of organic food products registered a robust 35 per cent increase to 66596 million around Rs 5700 crore during the financial year ended on March 31 2025 compared to the corresponding figure of 49480 million in 202324 according to the latest data released by the government In volume terms the export of organic food goods including cereals tea spices medicinal plants oilseeds and processed foods went up by 41 per cent to 037 million tonnes MT in 202425 from 026 million tonnes in 202324The government said the upward trend shows rising global demand for Indian organic food products The US is a major destination for Indian organic exports while the EU Canada and UK are also important marketsExport of organic rice and millets increased to 16167 million in FY25 from 8666 million in FY24 that of organic processed food to 15401 million from 12961 million medicinal plant products to 8857 million from 7242 million organic tea to 4513 million from 3411 million organic spices to 4542 million from 3593 million and organic oilseeds to 3620 million from 2564 million the figures showedIndia aims to surpass 1 billion in organic product exports and has set a target of 2 billion in exports by 2030The government is working on initiatives to promote organic farming and exports including the development of Mutual Recognition Agreements MRAs with other countries to facilitate tradeThe Agricultural amp Processed Food Products Export Development Authority APEDA implements the National Programme for Organic Production NPOP which sets standards for organic production processing and trade in India Products are certified under NPOP ensuring they meet international quality benchmarksThe global demand for organic products is around Rs 1 lakh crore and with increased promotion and production this demand may reach Rs 10 lakh croreIndia has the largest number of organic farmers globally and ranks second in terms of area under organic cultivation IANS https://dailyworld.in/market/indias-organic-food-exports-register-35-pc-jump-to-cross-665-million-in-fy25-611553.html Wed, 16 Apr 2025 11:06:00 +0530 https://dailyworld.in/market/indias-wpi-inflation-declines-to-205-pc-in-march-611399.html New Delhi April 15 Indias annual rate of inflation based on the Wholesale Price Index WPI slowed to 205 per cent in March down from 238 per cent in February according to data released by the Ministry of Commerce and Industry on Tuesday The positive rate of inflation in March is primarily due to an increase in the prices of manufactured products the figures showedThe monthovermonth change in WPI for March was in the negative zone at 019 per cent as compared to the previous month of February reflecting the declining trend in inflation There was a decline in the prices of food as well as fuel and power groups compared to the previous month which resulted in the overall monthonmonth inflation rate turning negativeMeanwhile retail inflation has also been on a declining trend The Reserve Banks Monetary Policy Committee has reduced its inflation forecast for 202526 to 4 per cent from 42 per cent earlier as the outlook for food inflation has turned decisively positive RBI Governor Sanjay Malhotra said last weekHeadline inflation moderated during January February 2025 following a sharp correction in food inflation The outlook for food inflation has turned decisively positive The uncertainties regarding rabi crops have abated considerably and the second advance estimates point to a record wheat production and higher production of key pulses over that last year the RBI Governor saidHe observed that along with robust kharif arrivals this is expected to set the stage for a durable softening of food inflationThe sharp decline in inflation expectations in our latest survey for three months and one year ahead would also help anchor inflation expectations going ahead he pointed outFurthermore the fall in crude oil prices augurs well for the inflation outlook Concerns on lingering global market uncertainties and recurrence of adverse weatherrelated supply disruptions however pose upside risks to the inflation trajectory the RBI Governor saidHe said that taking all these factors into consideration and assuming a normal monsoon CPI inflation for the financial year 202526 is projected at 40 per cent with Q1 at 36 per cent Q2 at 39 per cent Q3 at 38 per cent and Q4 at 44 per cent He also sees that the risks are evenly balanced IANS https://dailyworld.in/market/indias-wpi-inflation-declines-to-205-pc-in-march-611399.html Tue, 15 Apr 2025 13:27:00 +0530 https://dailyworld.in/market/market-recovers-from-us-tariff-shock-as-investors-gain-rs-109-lakh-crore-in-a-day-611475.html Mumbai April 15 The Indian stock markets made a stunning comeback on Tuesday as the singleday rally added a massive Rs 109 lakh crore to investors wealth erasing all the losses that followed the US tariff shock on April 2 In a powerful rally the Sensex surged over 1570 points while the Nifty jumped past 22300 making it one of the sharpest gains in recent monthsThe recovery was broadbased and driven by strong investor sentiment boosted by global cues and domestic optimismThe biggest trigger for the rally was a fresh update on US trade policy Washington announced a 90day delay in tariffs for most countries except ChinaThe move eased investor nerves and reignited hopes for Indias position in global supply chains Financial stocks led the charge rising over 2 per cent due to their heavy weightage in the indicesMidcap and smallcap indices also saw a strong recovery each rising by around 3 per cent after recent underperformanceExperts noted that domestic institutional investors turned aggressive buyers on Tuesday further supporting the upward momentumAsian markets were also firm supported by a weaker US dollar and stable bond yields giving Indian markets an additional boost as they reopened after an extended weekendApart from global cues Indias strong macroeconomic fundamentals continue to attract investor interestWith robust domestic demand and limited direct exposure to USChina tensions India is increasingly seen as a stable bet amid global uncertainties market experts notedWhile data on foreign institutional investor flows is yet to be released early signs point to strong buying activity they addedMarkets are adjusting the new reality of daily Trump twists and turns said Vikas Gupta CEO and Chief Investment Strategist at OmniScience CapitalHe added that sometimes when tariffs look like they have been temporarily removed the markets will react positively when something unexpected happens they will react negatively IANS https://dailyworld.in/market/market-recovers-from-us-tariff-shock-as-investors-gain-rs-109-lakh-crore-in-a-day-611475.html Tue, 15 Apr 2025 18:36:00 +0530 https://dailyworld.in/market/us-dollar-falls-for-5th-straight-day-amid-tariff-tensions-611307.html New Delhi April 14 The US dollar fell 07 per cent on Monday marking its fifth day of decline in a row It pushed the DXY index which measures the dollars strength against a group of major currencies to its lowest level in three years Since the start of April when US President Donald Trump declared Liberation Day while unveiling his aggressive tariff policies the dollar index has fallen more than four per centThis decline comes as investors begin to lose confidence in the strength of the US economy and pull out their money from American assetsPresident Trump addressed these concerns last week saying that the US dollar would always remain the currency of choiceHe added that if any country tried to move away from using the dollar a single phone call would be enough to bring them backDespite his confidence market reactions have shown increasing nervousnessAlthough experts believe that there is still no clear alternative to the dollar as a global reserve currency the recent backandforth over tariffs has created uncertaintyJust last week the US increased tariffs on Chinese goods to a total of 145 per cent In response China raised its tariffs on American imports from 84 per cent to 125 per centThis trade battle has triggered a global selloff in markets experts noted Even traditionally safe investments like US Treasuries have been hitThe yield on 10year US Treasury bonds is now heading for its biggest weekly jump since 2001 a sign that investors are demanding higher returns for the risk they perceiveMeanwhile the rupee recorded its biggest singleday gain in over two years on Friday last week rising 075 per cent as a weakening dollar and falling crude oil prices boosted sentimentThe Indian currency closed at 8605 against the dollar a sharp improvement from Thursdays close of 8670This recovery came as investors grew increasingly concerned about the US economy which led to a broader decline in the dollars strength IANS https://dailyworld.in/market/us-dollar-falls-for-5th-straight-day-amid-tariff-tensions-611307.html Mon, 14 Apr 2025 18:35:00 +0530 https://dailyworld.in/market/sensex-jumps-over-1-300-points-after-trump-pauses-tariffs-till-july-9-610800.html New Delhi April 11 IANS The Sensex witnessed a sharp rally of more than 1300 points on Thursday after US President Donald Trump announced a 90day pause on trade tariffs for most countries including IndianbspThe announcement lifted investor sentiment in the country even as some Asian markets remained under pressure due to renewed trade war tensions between the US and ChinanbspThe Sensex jumped 131011 points or 177 per cent to close at 7515726 During the day the index touched an intraday high of 7546733 while it slipped up to 7476284nbspThe Nifty also surged by 42940 points or 192 per cent to settle at 2282855The Nifty faced resistance around the 21EMA on the daily timeframe leading to a close off the days highnbspThe trend appears bearish unless it decisively moves above 23000 where significant open interest has been added On the downside support is placed at 22750 a break below this level could intensify the bearish sentiment said Rupak De of LKP SecuritiesnbspThe market rally was broadbased as strong buying across sectors lifted investor sentiment The BSE Midcap index gained 184 per cent while the Smallcap index shot up by 304 per centnbspAll major sectoral indices closed in the green with Metal Energy Pharma Auto and Banking stocks leading the gains The Nifty Metal index was the top performer rising over 4 per centOut of the 50 stocks on the Nifty index Hindalco led the gain with a rise of 652 per cent followed by Tata Steel JSW Steel and Coal India which were all up between 44 to 48 per centnbspHowever Asian markets painted a mixed picture Japans Nikkei 225 South Koreas KOSPI and Singapores Straits Times ended in the rednbspThis came after China retaliated against the US by announcing higher tariffs of up to 125 per cent on American goods following Trumps recent decision to raise tariffs on Chinese imports to an effective 145 per centnbspDespite the global uncertainty Indian markets cheered the temporary relief in the global trade environment driving a strong rally across sectors and market segments analyst notednbspRupee traded positive with strong gains of 070 at 8600 per dollar supported primarily by a weaker dollar index and a significant sentiment boost from the US decision to relax tariffs on Indian goods by 10 per cent for the next 90 daysIANS https://dailyworld.in/market/sensex-jumps-over-1-300-points-after-trump-pauses-tariffs-till-july-9-610800.html Fri, 11 Apr 2025 16:25:00 +0530 https://dailyworld.in/market/bank-of-baroda-passes-on-rbi-rate-cut-to-retail-and-msme-customers-610655.html Mumbai April 10 The governmentowned Bank of Baroda on Thursday announced the immediate transmission of the Reserve Bank of Indias RBI policy rate cut to its customers The public sector lender said it has reduced its external benchmarklinked lending rates for loans catering to Retail and MSME segments ensuring that customers benefit quickly from the RBIs monetary policy moveAdditionally the Banks overnight marginal cost of fundsbased lending rate MCLR stands at 815 per cent and its oneyear MCLR is 9 per cent which the bank said is among the most competitive in the industryThis move is aimed at providing credit at affordable rates to individuals and businesses supporting broader economic growth and financial inclusion the Bank saidRBI Governor Sanjay Malhotra on Wednesday announced a 25 basis cut in the policy rate from 625 per cent to 6 per cent and a change in monetary policy stance from neutral to accommodative to accelerate economic growthThe RBI Governor said the decision to cut the repo rate has been taken unanimously by the monetary policy committee keeping in mind the macroeconomic and financial conditions and outlookA lower policy rate is aimed at bringing down interest rates on bank loans which makes borrowing easier for consumers as well as businesses resulting in higher consumption and investments in the economy leading to higher growth However the effectiveness of this rate cut will largely hinge on how quickly and efficiently commercial banks pass on the benefits to borrowersWith the RBIs 50 basis points cumulative reduction in policy rates since February this year transmission of the rate cut by banks is expected in the coming quarters according to an SBI reportThe report points out that following RBIs 25 basis cut in repo rate in February public sector banks reduced deposit rates by 6 basis points and foreign banks reduced 15 basis points while private banks increased the rate by 2 basis points The analysis of the weighted average lending rate WALR on fresh loans versus the repo rate reveals that WALR for public sector banks and scheduled commercial banks SCBs closely follow the adjustments in the policy rate implying an effective and timely transmission mechanism IANS https://dailyworld.in/market/bank-of-baroda-passes-on-rbi-rate-cut-to-retail-and-msme-customers-610655.html Thu, 10 Apr 2025 12:46:00 +0530 https://dailyworld.in/market/sensex-nifty-open-lower-ahead-of-rbi-mpc-decisions-as-tariff-threats-get-deeper-610478.html Mumbai April 9 Indian equity indices opened in the red on Wednesday following its global peers as US President Donald Trump threatened reciprocal tariffs on the global pharmaceutical sector Ahead of the RBI monetary police committee MPC decisions where a 25 bps repo rate cut is likely along with the stance shifting to accommodative from neutral Sensex was down 302 points or 041 per cent at 73939 and Nifty was down 107 points or 048 per cent at 22433 in the early tradeAlong with largecaps midcaps and smallcaps also fell Nifty midcap 100 index was down 436 points or 087 per cent at 49402 and Nifty smallcap 100 index was down 150 points or 098 per cent at 15238On the sectoral front auto FMCG consumption were major gainers IT PSU Bank pharma metal realty infra and commodities were major laggardsIn the Sensex pack Power Grid Nestle HUL MampM ITC Asian Paints and Bharti Airtel were major gainers Maruti Suzuki Bajaj Finserv Tata Steel Tech Mahindra Infosys HCL Tech Eternal TCS Sun Pharma were major losersDevarsh Vakil Head of Prime Research at HDFC Securities said We expect the markets to remain volatile today as well as traders navigate the weekly derivative expiry todayFPI traders purchased index options yesterday ahead of the weekly expiry indicating their willingness to pay option premium prices while anticipating increased market volatility today he mentionedSelling was seen in the major Asian markets Tokyo Hong Kong and Seoul were in the red The US markets closed in the red on Tuesday due to recession fearsThe US has announced to impose an additional 50 per cent tariff on imports from China in response to the 34 per cent retaliatory tariffs China announced last weekThe additional 50 per cent duty on imports from China will bring the US tariff rate on Chinese imports to 104 per cent Trumps sweeping tariffs have raised fears of recession and upended a global trading order that has been in place for decades IANS https://dailyworld.in/market/sensex-nifty-open-lower-ahead-of-rbi-mpc-decisions-as-tariff-threats-get-deeper-610478.html Wed, 09 Apr 2025 14:53:00 +0530 https://dailyworld.in/market/op-jindal-global-university-celebrates-world-health-day-2025-towards-healthy-beginnings-hopeful-futures-610517.html Sonipat April 9 The Jindal School of Public Health and Human Development in collaboration with the Jindal School of Government and Public Policy Jindal School of Psychology and Counselling and the Jindal School of Liberal Arts and Humanities hosted a daylong celebration to mark World Health Day 2025 at O P Jindal Global University The event themed Healthy Beginnings Hopeful Futures brought together a wide range of scholars global health experts policymakers and studentsParticipants included experts from Harvard University US University of Southampton UK BRAC University Bangladesh and UNSW Sydney state government of Haryana along with UNICEF PATH PHFI alongside faculty members from JGUProf Sabu Padmadas and Prof Vikram Patel delivered distinguished lectures and other participants engaged in panel discussions poster making and presentationsThe day commenced with a welcome address by the Deans of the organising schoolsDean Stephen P Marks outlined the key goals of World Health Day including access to healthcare during pregnancy reducing discrepancies in maternity and neonatal health education and training community engagement and policy commitmentDean Kathleen Modrowski stressed the value of universities working together with the community in a dignified and respectful collaboration for better maternal and child health citing the example of students efforts in Kundli area of Sonipat where they learn from the community while giving back to societyDean R Sudarshan related his career in the United Nations to lessons in subsidiarity and experience with successful implementation of policy when those who implement are involved in the conceptualizationDean Derick Lindquist discussed the relationship between physical and mental health and the wide range of mental health issues facing women across the life cycle and the value of life skills trainingJGUs Founding Vice Chancellor Prof Dr C Raj Kumar welcomed the event on behalf of the university and explained the evolution of the degree programmes offered by JSPH including the launch of a new online MSc in Global Health and Human Development and replacing the twoyear residential Master of Public Health MPH with a oneyear residential MPH programme pursuant to the National Education Policy NEP 2020He shared his ideas on policy making in public health through bridging the gap between theory and practice making aggressive efforts to address societys problems and the challenge of interacting with statelevel governmentsProf Sabu Padmadas Professor of Demography and Global Health from the University of Southampton delivered a distinguished lecture on Sustainability at Risk The Looming Energy Crisis and Global Health outlining the challenge of Sustainable Development Goal 7 access to affordable reliable and sustainable energy and the projections of world population growth and the negative impact of inequitable access to energy and energy poverty towards maternal and child healthHe noted the particular challenge of AI and the extreme demand for electricity and water and other challenges from anthropogenic factors including death due to air pollution and sea level riseThe concluding distinguished lecture was delivered by Prof Vikram Patel Paul Farmer Professor and Chair of Global Health and Social Medicine at Harvard Medical School and Professor in the Harvard T H Chan School of Public HealthSpoke on transforming mental health systems in India drawing on survey data on mental health conditions barriers to care and paradigm shifts in mental health care from biomedical approached to a wider range of interventions and highly trained professionals to community level workforce drawing on examples from the pioneering work of Sangath in India and the implementation of EMPOWER project He concluded making the case for communitybased mental healthcare using psychosocial interventions engaging frontline workers in global mental health care IANS https://dailyworld.in/market/op-jindal-global-university-celebrates-world-health-day-2025-towards-healthy-beginnings-hopeful-futures-610517.html Wed, 09 Apr 2025 15:27:00 +0530 https://dailyworld.in/market/sensex-opens-over-1-000-points-up-amid-heightened-global-uncertainty-610287.html Mumbai April 8 Indian frontline indices opened in the green on Tuesday as heavyweights like Titan Tata Steel and Adani Ports lifting the market sentiment despite global uncertainty amid US tariffs As of 921 am Sensex was up 1169 points or 160 per cent at 74307 and Nifty was up 375 points or 169 per cent at 22536Along with largecaps midcaps and smallcaps moved up Nifty midcap 100 index was 1094 points up or 224 per cent at 49903 and Nifty smallcap 100 index was 356 points up or 175 per cent at 15424On the sectoral front all indices were trading in the green PSU Bank financial services metal realty energy private bank infra and realty were major gainersIn the Sensex pack Titan Adani Ports Tata Motors Bajaj Finserv SBI Axis Bank UltraTech Cement Tata Steel IndusInd Bank Zomato Bajaj Finance and NTPC were major gainers TCS was the only stock trading in the redAccording to market watchers the heightened uncertainty and volatility that has gripped markets worldwide will linger for some more timeThere are some significant takeaways from the ongoing chaos One the trade war is like to be confined to US and China Others including EU and Japan have opted for negotiations India has already started negotiations on a BTA with US Two the risk of a recession in the US has increased Three China is likely to be the worsthit economy said VK Vijayakumar Chief Investment Strategist Geojit Financial ServicesInvestors may continue in wait and watch mode since it will take time for clarity to emerge he addedBuying was seen in the major Asian markets Tokyo Shanghai HongKong and Seoul were trading in the green The US markets had closed negative on Monday due to recession fearsIn terms of institutional activity foreign institutional investors FIIs remained net sellers for the sixth consecutive session on April 7 offloading equities worth Rs 9040 crore In contrast domestic institutional investors DIIs remained net buyers purchasing equities worth Rs 12122 croreAccording to Prashanth Tapse Senior VP Research Mehta Equities traders are watching for the RBIs potential 25bps rate cut on April 9 and corporate earnings led by TCS on April 10 IANS https://dailyworld.in/market/sensex-opens-over-1-000-points-up-amid-heightened-global-uncertainty-610287.html Tue, 08 Apr 2025 10:02:00 +0530 https://dailyworld.in/market/some-nations-like-china-may-devaluate-their-currencies-neelkanth-mishra-on-us-tariffs-610092.html New Delhi April 7 As the US reciprocal tariffs hit global markets Neelkanth Mishra chief economist at Axis Bank said on Monday that some countries like China will have no option but to devalue their currencies in the current scenario The global markets have been shaken by tariffs implemented by US President Donald Trump as countries plan to respond to these strict trade measuresMishra mentioned Chinas mounting balance of payments pressure driven by capital flight and decreased foreign direct investmentWith Chinas trade surplus narrowing and tariffs impacting the economy he predicted the country might be forced to devalue the yuanThe risk of a currency war is high and once devaluation begins the situation could spiral into an unpredictable environmentMishra told NDTV profit that this would trigger uncertainty in global financial markets as the balance of trade between countries shifts and industrial policy measures like export subsidies and currency devaluation come into playThe US administrations objectives are not purely economic but political seeking to reshape global trade dynamics by moving away from multilateral agreements to bilateral ones according to MishraWhile some of the tariffs will likely be negotiated down others may remain serving as a tool for revenue generation and to address the US dollars dominance in global tradeThe greater concern for India according to Mishra is the potential for a global economic slowdown which could dampen investor confidence and affect financial markets especially with Indias low equity risk premium amid global uncertaintiesHowever India is better positioned than many other economies thanks to fiscal and regulatory easing along with decisive monetary policy actions by the RBI he notedIn a bloodbath on the Dalal Street the stock markets plunged on Monday following the global selloff as the trade war fear increased amid impending US reciprocal tariffsTrump has defended his controversial tariff policies dismissing concerns over the economic impact He said that the world leaders are dying to make a deal to negotiate the reciprocal tariffsSometimes you have to take medicine to fix something Trump said referring to the market volatility Since the onset of his tariff policies trillions of dollars in market value have been wiped off the books of US companies with investors bracing for further fallout IANS https://dailyworld.in/market/some-nations-like-china-may-devaluate-their-currencies-neelkanth-mishra-on-us-tariffs-610092.html Mon, 07 Apr 2025 10:53:00 +0530 https://dailyworld.in/market/sensex-nifty-slump-over-5-pc-amid-global-markets-meltdown--610123.html Mumbai Apr 7 Stock market benchmark indices Sensex and Nifty cracked over 5 per cent on Monday in tandem with massive selloffs across the board as US President Donald Trumps tariff hikes and retaliation from China fuelled investors jitters amid fears that a fullblown trade war will impact economic growth across the globenbspThe 30share BSE benchmark Sensex crashed 393968 points or 522 per cent to 7142501 in early trade The NSE Nifty tumbled 11608 points or 506 per cent to 2174365nbspDuring the afternoon trade the BSE benchmark quoted 320531 points or 425 per cent lower at 7215938 and the Nifty traded with a cut of 103895 points or 454 per cent at 2186550All the Sensex firms were trading in the negative territory Tata Steel dropped over 9 per cent followed by Tata Motors which cracked more than 8 per cent Larsen amp Toubro HCL Technologies Kotak Mahindra Bank Infosys ICICI Bank Axis Bank Reliance Industries and Adani Ports were the other big laggardsnbspIn Asian markets Hong Kongs Hang Seng index tanked more than 12 per cent Tokyos Nikkei 225 plunged nearly 8 per cent Shanghai SSE Composite index dropped about 8 per cent and South Koreas Kospi sank over 5 per centnbspnbspUS markets ended sharply lower on Friday The SampP 500 plummeted 597 per cent Nasdaq composite slumped 582 per cent and the Dow tumbled 550 per cent on FridayBoth China and Japan index declined by 10 per cent and 8 per cent respectively This escalates the stakes in the ongoing trade war and raises concerns about a potential global recession that could affect everyone On Friday the US SampP 500 dropped by 6 per cent and the Dow Jones fell more than 2000 points marking its worst week since the COVID19 crisis This came after China announced it would impose reciprocal 34 pernbsp cent tariffs on all US imports starting April 10 Vikas Jain Head of Research at Reliance Securities saidThe sharp increase in tariffs by both the US and China could lead to higher inflation slower global growth and intensify trade tensions he addednbspThe BSE smallcap gauge cracked 578 per cent and the midcap index tanked 452 per centnbspAll the BSE sectoral indices were trading in negative territory Metal tumbled over 7 per cent commodities dropped 584 per cent industrials 573 per cent IT 501 per cent consumer discretionary 494 per cent BSE Focused IT 477 per cent and teck 437 per centForeign Institutional Investors FIIs offloaded equities worth Rs 348398 crore on Friday according to exchange datanbspGlobal oil benchmark Brent crude dropped 294 per cent to USD 6351 a barrelnbspOn Friday the Sensex tumbled 93067 points or 122 per cent to settle at 7536469 The Nifty declined 34565 points or 149 per cent to close at 2290445nbspLast week the Sensex tanked 205023 points or 264 per cent while the NSE Nifty declined 6148 points or 261 per centnbspAgencies https://dailyworld.in/market/sensex-nifty-slump-over-5-pc-amid-global-markets-meltdown--610123.html Mon, 07 Apr 2025 14:14:00 +0530 https://dailyworld.in/market/seoul-shares-nosedive-over-55-pc-on-panic-selling-sparked-by-trump-tariffs-610134.html Seoul April 7 South Korean stocks nosedived more than 55 percent on Monday extending their losing streak to a fourth consecutive day as investors panicked over an escalating global trade war triggered by US reciprocal tariffs The Korean won fell by the most since the COVID19 pandemic against the US dollar The benchmark Korea Composite Stock Price Index KOSPI shed 13722 points or 557 percent to close at 232820 The techladen KOSDAQ also dipped 58 percent reports Yonhap news agencyShortly after the stock market opened the bourse operator issued the first sidecar order since August 2024 halting program purchasing for five minutes after the KOSPI 200 index shed over 5 percent for more than 1 minute reports Trade volume was a bit heavy at 6152 million shares worth 105 trillion won 716 billion with losers far outnumbering winners 862 to 68Foreigners dumped 209 trillion won worth of local shares while retail investors and institutions purchased 167 trillion won and 2532 billion won respectivelyThe KOSPI nosedived as investors dumped stocks amid growing fears of a recession following the Trump administrations announcement of reciprocal tariffs last week prompting China to fire back with 34 percent tariffs on US goods and export controls on rare earths while threatening additional steps in the near futureVolatility in the Korean stock markets heightened on the Trump administrations strongerthanexpected tariff policies Park Seokjoong an analyst at Shinhan Securities saidNone of the Korean export industries will be able to evade the influence of the US tariff schemeWall Street saw its worst week since the COVID19 pandemic last week with the SampP 500 plunging 6 percent Friday US time while the Dow Jones Industrial Average plummeted 55 percent and the techheavy Nasdaq composite lost 58 percentIn Seoul many bigcap shares slid to hit their lowest mark in a yearMarket bellwether Samsung Electronics slid 517 percent to 53200 won and its chipmaking rival SK hynix shot down 955 percent to 164800 wonTop carmaker Hyundai Motor sank 662 percent to 179100 won and major defense firm Hanwha Aerospace plunged 855 percent to 642000 wonLeading shipbuilders Hanwha Ocean and HD Hyundai Heavy plummeted 981 percent and 817 percent to 62500 won and 275500 won respectivelyMajor bio company Samsung Biologics lost 571 percent to 101 million won and steel giant POSCO Holdings slumped 659 percent to 255000 wonFinancial shares also sharply went down with KB Financial dipping 695 percent to 72300 won and Meritz Financial losing 566 percent to 111700 wonThe local currency was quoted at 14678 won per dollar at 330 pm down 337 won from the previous sessionIt marked the steepest singleday decline since March 19 2020 when the currency dropped by 40 won amid the COVID19 pandemic IANS https://dailyworld.in/market/seoul-shares-nosedive-over-55-pc-on-panic-selling-sparked-by-trump-tariffs-610134.html Mon, 07 Apr 2025 14:41:00 +0530 https://dailyworld.in/market/invest-in-quality-stocks-with-strong-business-models-amid-global-uncertainty-sbi-report-610162.html Mumbai April 7 As global economic uncertainties rise due to US trade tariff tensions inflation risks and volatile markets a new report said on Monday recommended investing in quality businesses for longterm gains Investors should focus on companies that have strong business models clear earnings growth potential and steady cashflows especially during times of heightened macroeconomic instability according to the report by SBI Funds ManagementThe report highlights that global financial markets have been shaken by the return of aggressive US trade policies under Trump 20 including steep tariff hikes India has also been affected with reciprocal tariffs of up to 27 per cent imposed on various sectorsThe risk of stagflation a mix of high inflation and slow growth also looms large especially if the US economy slows down due to rising prices and reduced consumer sentimentDespite these challenges the report notes some positive shifts in Indias market environment The correction in equity prices and falling bond yields have brought market valuations closer to historical averagesSentiment too has returned to more neutral levels making current market conditions more favourable for longterm investorsThe report adds that Indias central bank the RBI has been proactive in managing liquidity Since December 2024 it has injected over Rs 89 lakh crore into the system including open market operations and other liquidity toolsThese measures have helped ease market interest rates and improve overall transmission of monetary policyOn the global front the economic outlook remains mixed While developed markets like Germany Japan and the UK have seen rising longterm yields the US has maintained relatively steady ratesThe US Federal Reserve is expected to cut policy rates at least four more times although the impact of ongoing tariffs and geopolitical tensions continues to be uncertainIn India the rupee has shown signs of recovery after a dip earlier in the fiscal year Forex dynamics capital flows and RBI interventions will remain important in shaping liquidity and interest ratesThe report expects further easing of policy rates by the RBI in the upcoming review though the central bank may maintain a neutral stance due to global uncertaintiesFor debt investors the SBI Funds report suggests that shortterm bond funds and creditoriented strategies could offer good opportunities especially in the current lowrate environmentIt also highlights that hybrid investment products might be a safer option for those seeking stability amid equity market volatility IANS https://dailyworld.in/market/invest-in-quality-stocks-with-strong-business-models-amid-global-uncertainty-sbi-report-610162.html Mon, 07 Apr 2025 16:20:00 +0530 https://dailyworld.in/market/market-outlook-rbi-mpc-cpi-tariffs-and-global-economic-data-key-triggers-for-next-week-609961.html Mumbai April 6 The equity market outlook for the next week will be guided by several domestic and international factors such as RBI MPC Indias CPI March industrial production data any update on US reciprocal tariff and other global economic data On the domestic level the RBI Monetary Policy Committee RBI MPC decision announcement is scheduled for release on April 9 which will provide key insights into the Reserve Banks policy stance and Indias economic outlookFurther Indias CPI March data and Industrial Production and Manufacturing Production data will be released on April 11On the global level the minutes of the US Federal Open Market Committee FOMC meeting US CPI data and UK GDP data are scheduled for release in the next weekIndian benchmark indices ended the week sharply lower snapping a twoweek winning streak as escalating global trade tensions rattled investor sentiment The Sensex was down 265 per cent at 7536469 and the Nifty was down 261 per cent at 2290445On the sectoral front heavy selling was witnessed in IT and Metal stocks which emerged as the worst performers plunging 915 per cent and 746 per cent respectively FMCG was the only sector to post gains rising a modest 045 per cent indicating defensive buying amid market volatilityThe selloff was primarily triggered by US President Donald Trumps decision to impose steep reciprocal tariffs on key trading partners including a 27 per cent levy on select Indian goodsForeign Institutional Investors FIIs turned aggressive sellers pulling out approximately Rs 13730 crore from the cash segment while Domestic Institutional Investors DIIs provided some support with net inflows of around Rs 5632 crorePuneet Singhania Director at Master Trust Group said Nifty 50 has slipped to a twoweek low weighed down by rising fears of a global trade war and recession which have created a wave of negative sentimentKey support levels to watch are 22300 and 22000 On the upside 22800 now acts as a strong resistance In this environment Nifty becomes a sellonrise market and traders are advised to remain cautious and avoid aggressive long positions until stability returns he added IANS https://dailyworld.in/market/market-outlook-rbi-mpc-cpi-tariffs-and-global-economic-data-key-triggers-for-next-week-609961.html Sun, 06 Apr 2025 11:24:00 +0530 https://dailyworld.in/market/startup-funding-jumps-23-times-to-357-million-this-week-609972.html New Delhi April 6 Indias startup ecosystem witnessed a strong funding rebound this week with total investments soaring over 23 times to around 35729 million across 30 deals compared to 15249 million raised by 23 startups last week This surge reflects growing investor confidence in Indias innovationdriven growth story especially after Union Commerce and Industry Minister Piyush Goyal recently credited startups as key drivers in the countrys journey to becoming the thirdlargest global economy by 2027Of the total this week six were growthstage deals and 21 were earlystage Three startups raised funds without disclosing the amountAmong the biggest growthstage deals used car platform Spinny led the way with a 131 million infusionIt was followed by Chef Robotics 43 million and travel fintech Scapia which raised 40 million in a Series B round led by Peak XV PartnersOther notable names include Infinity Fincorp Pratilipi and Tonbo Imaging In the earlystage category clean energy startup Aerem topped the chart with an 117 million raiseOthers like RapidClaims Sweet Karam Coffee The Bear House Further AI and CollegeDekho also attracted significant capitalThe weekly average funding over the past eight weeks now stands at 27116 million across approximately 25 dealsBengaluru remained the top hub with 13 deals followed by DelhiNCR Mumbai Chennai and Indore Sectorwise healthtech was the most funded vertical with five deals while foodtech and ecommerce followed closelySeed funding led this weeks rounds with 10 deals followed by Series A Series D and debt roundsSpeaking at the Startup Mahakumbh event earlier this week Minister Goyal emphasised the importance of startups and innovation in realising the vision of Viksit Bharat 2047Currently the worlds fifthlargest economy India is on track to become the fourthlargest by the end of 2025 and the thirdlargest economy by 2027 surpassing Japan and Germany Goyal said on April 3 while crediting this growth to the robust startup ecosystem IANS https://dailyworld.in/market/startup-funding-jumps-23-times-to-357-million-this-week-609972.html Sun, 06 Apr 2025 13:06:00 +0530 https://dailyworld.in/market/zomatos-food-delivery-coo-rinshul-chandra-resigns-609982.html New Delhi April 6 Eternal Limited the company formerly known as Zomato has announced that Rinshul Chandra the Chief Operating Officer COO of its food ordering and delivery business has resigned Chandra a key part of the companys senior leadership submitted his resignation on April 5 and will officially step down from his role on April 7In a filing to the stock exchanges the company said that Chandra is leaving to explore new opportunities and passions that match his personal and professional goalsIt has been an incredibly fulfilling journey over the past seven years and I am truly grateful for the trust support and opportunities Ive received during my time here I wish our worldclass teams at Eternal the very best he wroteChandra had joined the company in 2018 as Assistant Vice President of Product Over the years he held several important roles including Vice President and Head of Business before becoming the Chief Operating Officer of the food delivery divisionHowever Eternal Limited has not yet announced who will take over his responsibilitiesThis development comes at a time when the company is facing internal changes Recently Zomato was in the news for laying off around 600 customer support staff members within a year of hiring them as per media reportsThe company has also seen multiple highlevel exits over the past year Hemal Jain the Global Head of Finance and CFO of Hyperpure resignedCofounder and Chief People Officer Akriti Chopra also stepped down In October last year Independent Director Gunjan Soni resigned from her positionZomato recently rebranded itself as Eternal which now includes four major business units Zomato Blinkit District and Hyperpure as part of its new structureInforming shareholders the companys Chief Executive Officer CEO Deepinder Goyal clarified that the name change would apply only to the company and not to the Zomato brand or its app IANS https://dailyworld.in/market/zomatos-food-delivery-coo-rinshul-chandra-resigns-609982.html Sun, 06 Apr 2025 14:01:00 +0530 https://dailyworld.in/market/mccain-india-profit-shrinks-29-pc-in-fy24-amid-rising-costs-609991.html New Delhi April 6 McCain India the maker of frozen snacks like French fries and aloo tikki reported a sharp 29 per cent decline in its net profit for the financial year 202324 FY24 hit by rising costs and higher spending on advertising and management fees As per the companys filings with the Registrar of Companies net profit fell to Rs 89 crore in FY24 from Rs 126 crore in the previous year even though the company recorded a modest growth in revenueThe drop in profits comes amid a steep 63 per cent increase in advertising expenditure which rose to Rs 88 croreManagement fees and other operational costs also saw an upward trend impacting the companys marginsOverall expenses climbed to Rs 1125 crore in FY24 from Rs 1020 crore in FY23 Material procurement remained the largest cost component for McCain India rising to Rs 493 crore and accounting for nearly 44 per cent of total spendingEmployee costs also went up by 19 per cent while additional expenses on fuel freight storage and contract labour added to the pressure on the bottom lineDespite these challenges the company managed to grow its revenue by 3 per cent Revenue from operations increased to Rs 1214 crore in FY24 from Rs 1172 crore in FY23Including income from interest on deposits and other sources total revenue stood at Rs 1245 crore up from Rs 1189 crore in the previous financial yearMcCain which entered the Indian market in 1998 has become a major player in the frozen snacks segmentIt sells its products through retail outlets restaurants and quickcommerce platforms like Blinkit Swiggy Instamart and ZeptoHowever the company is facing increasing competition and evolving consumer preferences particularly with the growing shift towards healthy eatingAccording to reports while the love for fried snacks in India remains strong McCains longterm success may depend on expanding its reach into smaller towns and improving its cold chain logistics infrastructureEven with a return on capital employed ROCE of 1528 per cent and an EBITDA margin of 458 per cent the sharp fall in profit signals a need for McCain to better manage rising costs as per reports IANS https://dailyworld.in/market/mccain-india-profit-shrinks-29-pc-in-fy24-amid-rising-costs-609991.html Sun, 06 Apr 2025 15:00:00 +0530 https://dailyworld.in/market/swiggy-faces-tax-demands-worth-over-rs-165-crore-says-no-major-financial-impact-609997.html New Delhi April 6 Online food and grocery delivery platform Swiggy is facing fresh tax troubles after receiving two assessment orders related to the financial year 202122 The total tax demand stands at over Rs 165 crore In a regulatory filing on Saturday Swiggy said it received an order from the Office of the Profession Tax Officer in Pune demanding Rs 759 croreThe order alleges that the company failed to properly deduct profession tax from employees salaries which is required under the Maharashtra State Tax on Professions Trades Callings amp Employments Act 1975Swiggy however maintained that it has strong grounds to challenge the order and is planning to file a review or appealThe Company believes that it has strong arguments against the Order and is taking necessary steps to protect its interest through reviewappeal Swiggy stated in its filingThe company also clarified that the issue will not have a significant impact on its finances or operationsThis development comes just days after Swiggy was served another assessment order by the Deputy Commissioner of Income Tax Central Circle 11 BangaloreThis order demands an additional tax of over Rs 158 crore also for the April 2021 to March 2022 periodThe larger tax demand is linked to issues such as cancellation charges paid to merchants which the authorities have disallowed under Section 37 of the Incometax Act 1961It also includes interest income from income tax refunds which the authorities claim was not properly declaredThe Company has received an assessment order for the period April 2021 to March 2022 where an addition of Rs 1582580987 one hundred and fiftyeight crores twentyfive lakhs eighty thousand nine hundred and eighty seven only has been made Swiggy said in a regulatory filingSwiggy said it is confident in its legal position and is taking necessary steps to appeal the tax order Just like in the profession tax matter the company said this order too will not cause any major adverse effect on its financials or daytoday operations IANS https://dailyworld.in/market/swiggy-faces-tax-demands-worth-over-rs-165-crore-says-no-major-financial-impact-609997.html Sun, 06 Apr 2025 15:22:00 +0530 https://dailyworld.in/market/us-markets-dollar-slips-on-trump-tariffs-609639.html Washington April 4 US markets on Thursday slid to their lowest in two years in the aftermath and response to President Donald Trumps sweeping tariffs on imports from every trading partner country while the US dollar slipped to its lowest level The Wall Street Journal reported the US market had 27 trillion in market cap by noon At the same point in the day the Dow industrials had fallen 1300 points or 31 per cent the techheavy Nasdaq slipped 48 per centPresident Trump on Wednesday announced sweeping tariffs on imports from more than 100 countries There is a baseline rate of 10 per cent with higher countryspecific rates on dozens of trading partner countries including India 26 per cent China 34 per cent and the EU 20 per centOthers hit with higher rates under the reciprocal tariffs were the UK 10 per cent Japan South Korea Indonesia Taiwan the EU Vietnam Cambodia Switzerland Bangladesh Pakistan and Sri LankaMany of the targeted countries are treaty allies of the US the President said adding friends have been more unfair to the US on matters of trade than foesHe also reiterated his longrunning beef with countries with high trade surpluses with the US or those that he has perceived as levying high import duties on American goodsCanada and Mexico are exempted from the reciprocal tariffs but imports from these countries are already under a 25 per cent levy that was announced by Trump earlier to force them to stop the flow of illegal migrants and fentanyl a deadly opioid through their borders into the USThe reciprocal tariffs are the fourth in a series of such measures undertaken by President Trump in his bid to cut Americas trade deficit counter restrictive trade practices and force manufacturers to come to the USIn the first round he had reimposed a tariff of 25 per cent on steel and aluminum imports from his first term raising the levy on aluminum from 15 per centHe had followed it up with tariffs on Canada Mexico and China as a country of source for precursor chemicals for fentanyl Then came the 25 per cent levy on imported automobiles and auto parts He next plans to tariff pharmaceuticals IANS https://dailyworld.in/market/us-markets-dollar-slips-on-trump-tariffs-609639.html Fri, 04 Apr 2025 08:42:00 +0530 https://dailyworld.in/market/us-markets-dollar-slip-on-trump-tariffs-609640.html Washington April 4 US markets on Thursday slid to their lowest in two years in the aftermath and response to President Donald Trumps sweeping tariffs on imports from every trading partner country while the US dollar slipped to its lowest level The Wall Street Journal reported the US market had 27 trillion in market cap by noon At the same point in the day the Dow industrials had fallen 1300 points or 31 per cent the techheavy Nasdaq slipped 48 per centPresident Trump on Wednesday announced sweeping tariffs on imports from more than 100 countries There is a baseline rate of 10 per cent with higher countryspecific rates on dozens of trading partner countries including India 26 per cent China 34 per cent and the EU 20 per centOthers hit with higher rates under the reciprocal tariffs were the UK 10 per cent Japan South Korea Indonesia Taiwan the EU Vietnam Cambodia Switzerland Bangladesh Pakistan and Sri LankaMany of the targeted countries are treaty allies of the US the President said adding friends have been more unfair to the US on matters of trade than foesHe also reiterated his longrunning beef with countries with high trade surpluses with the US or those that he has perceived as levying high import duties on American goodsCanada and Mexico are exempted from the reciprocal tariffs but imports from these countries are already under a 25 per cent levy that was announced by Trump earlier to force them to stop the flow of illegal migrants and fentanyl a deadly opioid through their borders into the USThe reciprocal tariffs are the fourth in a series of such measures undertaken by President Trump in his bid to cut Americas trade deficit counter restrictive trade practices and force manufacturers to come to the USIn the first round he had reimposed a tariff of 25 per cent on steel and aluminum imports from his first term raising the levy on aluminum from 15 per centHe had followed it up with tariffs on Canada Mexico and China as a country of source for precursor chemicals for fentanyl Then came the 25 per cent levy on imported automobiles and auto parts He next plans to tariff pharmaceuticals IANS https://dailyworld.in/market/us-markets-dollar-slip-on-trump-tariffs-609640.html Fri, 04 Apr 2025 08:42:00 +0530 https://dailyworld.in/market/us-reciprocal-tariffs-asian-markets-trade-lower-japan-leads-losses-609566.html New Delhi April 3 Led by Japan Asian markets opened lower on Thursday after US President Donald Trump announced reciprocal tariffs on several countries with 34 per cent tariffs being levied on China 46 per cent on Vietnam 26 per cent on India 26 per cent on South Korea and 24 per cent on Japanese goods Japans Nikkei 225 fell by nearly 35 per cent and the broader Topix index was down 332 per centIn Hong Kong the Hang Seng Index fell 243 per cent whereas mainland Chinas Shanghai Composite Index fell 091 per centThe new reciprocal rate on China will be added to existing tariffs totalling 20 per cent meaning the true tariff rate is 54 per cent on Chinese goodsIn South Korea the Kospi index fell 129 per cent paring losses from over 3 per cent Australias SampPASX 200 was down 117 per cent in the early tradeGold prices hit a record high and were trading at 315392 per ounceThe Indian stock markets were yet to openIn the US the SampP 500 advanced 067 per cent to close at 567097 while the Nasdaq Composite added 087 per cent and ended at 1760105The 30stock Dow Jones Industrial Average added 23536 points to close at 4222532 Shares of Elon Muskrun Tesla climbed 53 per centEarlier Trump announced a baseline rate of 10 per cent on all imports and higher individualised rates for dozens of countries The levies are half of what the US deemed the trading partner countries imposed on goods from America a combined total of tariffs and nonmonetary barriers Trump said the lower rates are because Americans are kind peopleThe Indian levy on imports from the US as calculated by the US in this instance follows a formula that includes both monetary and nonmonetary levies and barriers The new American levy on imports from India was put at half 26 per cent IANS https://dailyworld.in/market/us-reciprocal-tariffs-asian-markets-trade-lower-japan-leads-losses-609566.html Thu, 03 Apr 2025 16:29:00 +0530 https://dailyworld.in/market/sensex-nifty-open-higher-amid-mixed-global-cues-609423.html Mumbai April 2 Indian equity indices opened in the green on Wednesday as heavyweights like Infosys ICICI Bank Tech Mahindra and Maruti Suzuki continued to lift the market sentiment amid mixed global cues At 920 am Sensex was up 178 points or 024 per cent at 76203 and the Nifty was up 29 points or 013 per cent at 23195Around 1017 shares advanced 1533 shares declined and 127 shares unchanged on BSEIn early trading hour selling was seen in the midcap and smallcap stocks Nifty midcap 100 index was down 278 points or 054 per cent at 50951 and Nifty smallcap 100 index was down 158 points or 099 per cent at 15824On the sectoral front Auto IT financial services realty and private bank were major gainers FMCG metal energy and infra were major losersIn the Sensex pack Infosys HDFC Bank Maruti Suzuki Tech Mahindra ICICI Bank Bharti Airtel MampM Kotak Mahindra Axis Bank Bajaj Finserv and LampT were major gainers Nestle Power Grid NTPC UltraTech Cement HUL Tata Motors HCL Tech and SBI were major gainersHardik Matalia Derivative Analyst Choice Broking said that after a flat opening Nifty can find support at 23100 followed by 23000 and 22950On the higher side 23300 can be an immediate resistance followed by 23400 and 23500 he maintainedAsian markets were trading amid mixed cues Tokyo Seoul and Hong Kong markets were in red while Shanghai and Bangkok markets were in greenUS markets also witnessed mixed trading in the Tuesday session There was a slight decline in the Dow exchange On the other hand Nasdaq an index of technology companies closed 087 per cent higherThe foreign institutional investors FIIs continued their selling for the second consecutive session on April 1 as they sold equities worth Rs 5901 crore On the other hand domestic institutional investors DIIs continued their buying on the third consecutive day as they bought equities of Rs 4322 crore on the same day IANS https://dailyworld.in/market/sensex-nifty-open-higher-amid-mixed-global-cues-609423.html Wed, 02 Apr 2025 15:09:00 +0530 https://dailyworld.in/market/sensex-nifty-end-higher-ahead-of-us-reciprocal-tariffs-announcement-609424.html Mumbai April 2 IANS The Indian stock market bounced back on Wednesday with both the Sensex and Nifty closing higher just before the reciprocal tariffs deadline set by US President Donald TrumpnbspThe rally was driven by a recovery in banking and IT stocks Sensex surged by 59293 points or 078 per cent to close at 7661744 During the session the index moved between an intraday high of 7668035 and a low of 7606494nbspThe Nifty index also mirrored this recovery rising 16665 points or 072 per cent to settle at 2333235 It touched an intraday high of 23350 and a low of 2315845nbspOut of the 30 Sensex stocks 21 ended in positive territory Zomato Titan IndusInd Bank Maruti Suzuki India and Tech Mahindra were the top performers gaining up to 475 per centOn the other hand Ultratech Cement Nestle India Bajaj Finance Power Grid Corporation and Bajaj Finserv were the biggest losers declining by up to 136 per centnbspMidcap and smallcap stocks performed even better than the broader market The Nifty Midcap100 index jumped 161 per cent while the Nifty Smallcap100 index gained 112 per centnbspAll sectoral indices on the NSE closed in the green The Nifty Realty index was the biggest gainer surging 361 per cent It was followed by Consumer Durables Banks and Financial Services which rose by up to 251 per centnbspThe market rally comes at a crucial time as investors await the impact of new trade tariffs from April 2 US timeDespite global uncertainties Indian markets showed resilience supported by strong buying in key sectors said market analystsnbspThe sentiments were further reinforced by Indias manufacturing PMI for March which reached an eightmonth high hinting at a recovery in Q4 FY25 corporate earningsnbspFollowing a recent correction the index appears to be finding support around the critical 50 EMA on the daily timeframe said Rupak De of LKP SecuritiesnbspRupee remained flat near 8547 as markets awaited US reciprocal tariff measures and their potential impact on the global economyIANS https://dailyworld.in/market/sensex-nifty-end-higher-ahead-of-us-reciprocal-tariffs-announcement-609424.html Wed, 02 Apr 2025 15:40:00 +0530 https://dailyworld.in/market/sensex-plunges-over-1-100-pts-amid-us-reciprocal-tariff-concerns-609321.html Mumbai April 1 Indian frontline indices declined sharply on Tuesday dragged by the IT and financial service stocks amid concerns over the upcoming US reciprocal tariffs from April 2 At 1105 am Sensex was down 113625 points or 147 per cent at 7626090 and Nifty was down 28370 points or 121 per cent at 2323120Along with large caps selling was seen midcap and smallcaps Nifty midcap 100 was down 35910 points or 069 per cent at 5131335 and Nifty smallcap 100 was down 9935 points or 061 per cent at 1599715On the sectoral front Nifty IT index was down over 2 per cent Nifty financial services pharma metal reality and auto were top laggardsIn the Sensex pack IndusInd Bank Zomato Nestle ITC and Bharti Airtel were top gainers Bajaj Finserv Infosys HDFC Bank Axis Bank Bajaj Finance HCL Tech TCS and Sun Pharma were top losersAccording to Krishna Appala of Capitalmind Research caution lingers amid global headwindsPotential tariff announcements and their economic fallout remain key concerns influencing sentiment said AppalaLooking ahead nearterm volatility from global factors is expected but Indias strong domestic market supports a positive longterm outlook In this context assets like gold could act as a portfolio stabiliser complementing broader investment strategies rather than serving as a tactical play said expertsMeanwhile almost all markets in Asia were in the green zone Shanghai Tokyo Seoul Bangkok and Hong Kong markets were trading higherThe US markets recovered from a sevenmonth low on Monday and closed with a one per cent gainAfter witnessing buying in the previous six sessions the foreign institutional investors FIIs remained net sellers on March 28 as they sold equities worth Rs 4352 crore On the other hand domestic institutional investors DIIs continued their buying on the second days as they purchased equities of Rs 7646 crore on the same day IANS https://dailyworld.in/market/sensex-plunges-over-1-100-pts-amid-us-reciprocal-tariff-concerns-609321.html Tue, 01 Apr 2025 15:37:00 +0530 https://dailyworld.in/market/market-outlook-us-tariff-pmi-fiis-and-global-economic-data-key-triggers-for-next-week-609011.html New Delhi March 30 The market outlook for next week will be guided by several domestic and global economic factors such as PMI and FIIs data auto sales and Key US economic data including the Composite PMI and Initial Jobless Claims On the domestic front auto sale data will be released by auto companies from Monday and Indias HSBC Composite PMI data for March is set to be released on FridayOn the global front markets will be driven by IndiaUS tariff policy developments the impact of US President Donald Trumps announcement of a 25 per cent tariff on finished vehicle imports effective April 3 and US Fed Chair Powells SpeechFurther many important economic data including US job openings US nonfarm payrolls and US unemployment rate will be released next weekLast week the Indian stock market closed with gains Nifty and Sensex rose by about 070 per cent to close at 2351935 and 7741492The rally was led by banking stocks Bank Nifty closed at 5156481 up nearly 2 per centOn a sectoral basis Nifty PSE and FMCG indices were the top gainers while media and pharma indices were the top losersForeign investors continued their buying spree last week as well Between March 24 and 28 foreign institutional investors FIIs invested Rs 17426 crore Whereas domestic institutional investors DIIs invested Rs 6797 crore in equitiesThe Nifty closed 63 per cent higher in March reversing the previous months decline and closed on a strong positive note supported by consistent foreign inflowsIndian stock markets will remain closed on March 31 on account of EidPuneet Singhania Director at Master Trust Group said For Nifty strong support is placed at 23300 and if breached the index could decline toward 23000 On the upside resistance is seen at 23800 and a breakout above this level could drive Nifty towards 24100 potentially extending the rally IANS https://dailyworld.in/market/market-outlook-us-tariff-pmi-fiis-and-global-economic-data-key-triggers-for-next-week-609011.html Sun, 30 Mar 2025 11:34:00 +0530 https://dailyworld.in/market/fiis-return-to-stock-market-amid-boost-in-indias-economic-outlook-report-608713.html New Delhi March 28 Indias economic challenges have troughed and trends in some key metrics indicate that the outlook is improving a report said on Friday adding that foreign institutional investors FIIs might have sensed this and have bought Indian equities worth 38 billion since March 20 Aboveaverage reservoir levels increasing rural wages lower tax rates and an improving job market are positives for the urban and rural economies said the report by JM Financial Institutional ServicesThe GDP grew at 62 per cent in Q3 FY25 picking up from the 56 per cent of Q2 FY25 food inflation has come off sharply over the last few months to 38 per cent in FebruaryThe RBI is likely to continue its policy easing measures with another 25bps cut in repo rates in its April meet and central government capex growth also picked up in December and January and the outlook for FY26E is decent the report notedData as of February end suggests that domestic institutional investors DIIs are sitting on a fairly large pile of cash which is 54 per cent of equity asset under management AUMSince September 2024 the Nifty50 has corrected 11 per cent from its top and valuations have come off from the peakWe believe that the mean reversion story has broadly panned out leaving limited room for a downside hereon the report mentionedThe rural economy should also do better in 2025 on the back of good monsoons and comfortable reservoir levelsCurrent reservoir levels are higher than longterm average levels This has given confidence to the farmers and led to higher crop sowing which should eventually reflect in higher income The uptick in agricultural and nonagricultural wages should also drive higher disposable income the report notedThe income tax cuts announced in the recent Budget wherein the government has foregone revenue to the tune of Rs 1 lakh crore should place money in the hands of the urban population and drive discretionary spends IANS https://dailyworld.in/market/fiis-return-to-stock-market-amid-boost-in-indias-economic-outlook-report-608713.html Fri, 28 Mar 2025 16:19:00 +0530 https://dailyworld.in/market/sensex-nifty-ends-fy25-with-over-5-pc-gain-amid-volatile-trade-608723.html Mumbai March 28 Indian stock markets ended the last trading session of the current financial year FY25 on a lower side amid a volatile day With this the Sensex and Nifty gained over 5 per cent each in FY25 Sensex dropped 19151 points or 025 per cent to close at 7741492 while the Nifty slipped 7260 points or 031 per cent to settle at 2351935Despite the weak intraday session both benchmark indices recorded gains for the full financial year The Sensex gained more than 511 per cent while Nifty gained 534 per cent this fiscalIndian stock markets will remain closed on Monday March 31 due to Eid festivities and trading will resume on Tuesday April 1The midcap and smallcap segments outperformed with the Nifty Midcap100 rising 54 per cent and the Nifty Smallcap100 climbing 748 per cent during the fiscalRecent sessions mark a rebound from earlier declines fuelled by renewed buying from the FIIs who have injected over 30000 crore in the last few trading days shifting to net buyers said Krishna Appala of Capitalmind ResearchAppala added that domestic DIIs have also played a role with a mix of net buying and selling shaping market dynamicsMarket sentiment remained weak as more stocks declined than advanced with 2399 shares in the red against 1454 gainers while 116 stocks remained unchangedWipro IndusInd Bank Shriram Finance Cipla and MampM were among the top losers in the session On the other hand stocks like Tata Consumer Kotak Mahindra Bank Apollo Hospitals ONGC and ICICI Bank registered gainsSectorwise most indices ended in the red except for FMCG and oil amp gas which managed to stay positive IT auto realty and media stocks were among the worst performers falling between 12 per centThe broader market also witnessed selling pressure The BSE Midcap index declined by 07 per cent while the Smallcap index fell 04 per centThe India VIX also known as the fear index rose by 437 percent to settle at 1272 points on Friday indicating increased market volatilityIndian stock markets will remain closed on Monday March 31 due to Eid festivities Trading will resume on Tuesday April 1In the currency market the Indian rupee showed some strength ending 32 paise higher at 8546 per US dollar compared to Thursdays closing value of 8578Looking ahead positive FII cues are likely to sustain the upbeat sentiment for the rupee said Jateen Trivedi of LKP SecuritiesGold prices continued to trade higher in the spot market as tariff concerns persisted keeping buying interest intact The price range for gold remains elevated between Rs 87500 Rs 89750 said expertsRupee rallied sharply by 030rs to 8545 driven by a strong FII inflow of Rs 11111 crore which boosted sentiment and supported rupee buyers IANS https://dailyworld.in/market/sensex-nifty-ends-fy25-with-over-5-pc-gain-amid-volatile-trade-608723.html Fri, 28 Mar 2025 16:54:00 +0530 https://dailyworld.in/market/sensex-gains-318-points-nifty-nears-23-600-on-expiry-day-608558.html Mumbai March 27 The Indian stock markets ended on a strong note on Thursday with both the Sensex and Nifty closing in the green The 30share Sensex rose 31793 points or 041 per cent to settle at 7760643 During the day the index touched an intraday high of 7774746 and a low of 7708251Similarly the Nifty gained 10510 points or 045 per cent to close at 2359195 The index recorded an intraday high of 2362675 and a low of 2341220Among the Sensex stocks Bajaj Finserv NTPC IndusInd Bank Larsen amp Toubro and Bajaj Finance were the top gainers rising up to 285 per centOn the other hand Tata Motors Sun Pharma Hindustan Unilever Kotak Mahindra Bank and Bharti Airtel were among the top losers with Tata Motors dropping the most by 538 per centBroader markets also performed well with smallcap stocks leading the gains The Nifty Smallcap100 index rose 115 per cent while the Nifty Midcap100 index ended 037 per cent higherAmong sectoral indices most sectors ended in the green except for Nifty Auto and Nifty Pharma Auto stocks witnessed selling pressure after former US President Donald Trump announced a 25 per cent tariff on imported cars that are not manufactured in the US As a result the Nifty Auto index closed 104 per cent lowerOn the positive side PSU banks outperformed with the Nifty PSU Bank index gaining 250 per cent Bank of Baroda and Punjab National Bank were the key drivers behind this rallyMarket sentiment remained positive with buying seen in financial and infrastructure stocks while auto and pharma shares faced some selling pressureAccording to experts after a slow start to the monthly expiry trade the market saw a strong recovery from lower levels although the Index later oscillated in a narrow range before ultimately concluding at 2359195 with gains of 10510 pointsThe Index seems to have completed its corrective phase filling the bullish gap zone and forming a Piercing candlestick pattern The immediate resistance is at 23800 and a breakout above this level could propel the Index towards the psychological level of 24000 On the downside support is seen at 23400 said Aditya Gaggar Director of Progressive SharesOverall the market displayed strong intraday recovery bouncing back from the days lows and hovering near the sessions highs As global uncertainties persist investors will closely track trade developments and institutional flows to gauge the markets next move according to Sundar Kewat Technical and Derivatives Analyst Ashika Institutional Equity IANS https://dailyworld.in/market/sensex-gains-318-points-nifty-nears-23-600-on-expiry-day-608558.html Thu, 27 Mar 2025 20:59:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-flat-sensex-above-78-000-608411.html Mumbai March 26 The domestic benchmark indices opened flat on Wednesday amid positive global cues as buying was seen in the realty sector in the early trade At around 929 am Sensex was trading 7819 points or 010 per cent up at 7809538 while the Nifty added 4680 points or 020 per cent at 2371545Nifty Bank was up 5035 points or 010 per cent at 5165830 The Nifty Midcap 100 index was trading at 5208225 after adding 11250 points or 022 per cent Nifty Smallcap 100 index was at 1608895 after declining 1995 points or 012 per centAccording to market watchers Nifty tried to break above the previous high of 23807 but could not sustain above itThe hourly high of 23869 will be an important swing high in the near term Closing above 23869 can push Nifty higher to 24220 Overall trend shall remain bullish as Nifty trading above 40HEMA 23323 said Vikram Kasat HeadAdvisory PL CapitalMeanwhile In the Sensex pack PowerGrid Bajaj Finserv MampM Bajaj Finance Bharti Airtel IndusInd Bank Tata Motors and ICICI Bank were the top gainers Whereas Zomato UltraTech Cement Titan Maruti Suzuki Asian Paints Kotak Mahindra Bank and Hindustan Unilever Limited were the top losersIn the last trading session Dow Jones in the US added 001 per cent to close at 4258750 The SampP 500 climbed 016 per cent to 577665 and the Nasdaq added 046 per cent to close at 1827186According to experts US investors shrugged off the latest bad news on consumer confidence maybe instead taking their cues from Federal Reserve officials who have said theyre not worried yetConsumers were already due for a cooldown in early 2025 after a steamy end to last year but these figures raise the risk of a more significant pause in outlays they addedIn the Asian markets Hong Kong China Japan Seoul Jakarta and Bangkok were trading in greenRegarding the institutional activity foreign Institutional Investors FIIs purchased equities worth Rs 537157 crore on March 25 while domestic institutional investors DIIs sold equities worth Rs 276887 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-flat-sensex-above-78-000-608411.html Wed, 26 Mar 2025 16:57:00 +0530 https://dailyworld.in/market/stock-market-closes-in-green-amid-volatile-trade-sensex-ends-above-78-000-608322.html Mumbai March 25 IANS The Indian stock market on Tuesday managed to stay in the green for the seventh straight session though it gave up most of its early gains during volatile tradenbspThe Sensex which touched an intraday high of 7874169 eventually closed at 7801719 rising 3281 points or 004 per centnbspSimilarly the Nifty settled almost flat at 2366865 gaining only 1030 points or 004 per cent During the session the Nifty traded within a range of 2386960 to 2362755Despite the slight gains in the indices market sentiment remained weak with a majority of stocks witnessing selling pressurenbspOut of all traded shares 1019 stocks advanced while 2868 declined and 107 remained unchangednbspSectorwise the IT sector was the only gainer while other indices including auto capital goods consumer durables metal oil and gas power PSU banks realty and telecom fell between 1 per cent and 15 per centnbspAmong the top gainers on the Nifty were UltraTech Cement Trent Bajaj Finserv Infosys and Grasim IndustriesOn the other hand IndusInd Bank Dr Reddys Labs and Coal India were among the major losersnbspThe broader market also saw a decline with the BSE Midcap index falling 1 per cent while the BSE Smallcap index dropped 16 per centnbspAmong sectoral indices only the Nifty IT index closed in the green while all others saw declines The biggest sectoral losses extended up to 216 per centnbspMarket experts believe that cautious investor sentiment and profit booking led to the choppy session while global market trends and upcoming economic data will continue to influence the market movement in the coming daysAccording to Vikram Kasat HeadAdvisory PL CapitalPrabhudas Lilladher the markets winning streak stretched to a seventh straight session with the Nifty closing above 23600 and the Sensex surging over 1000 pointsnbspFocus now shifts to the upcoming US GDP growth report for the fourth quarter scheduled for release on March 27 along with any fresh updates on trade tariffs he saidIANS https://dailyworld.in/market/stock-market-closes-in-green-amid-volatile-trade-sensex-ends-above-78-000-608322.html Tue, 25 Mar 2025 16:02:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-higher-amid-potential-us-tariff-flexibility-608062.html Mumbai March 24 The domestic benchmark indices opened higher on Monday amid positive global cues as US President Donald Trump signalled potential reciprocal tariff flexibility Buying was seen in the PSU bank and realty sectors in the early tradeAt around 932 am Sensex was trading 41498 points or 054 per cent up at 7732049 while the Nifty climbed 13780 points or 059 per cent at 2348820Nifty Bank was up 39345 points or 078 per cent at 5098700 The Nifty Midcap 100 index was trading at 5237550 after adding 52475 points or 101 per cent Nifty Smallcap 100 index was at 1642340 after climbing 23845 points or 147 per centThe upcoming Q4 FY25 earnings reports are also expected to show robust results potentially lifting the overall sentiment said market watchers adding that the underlying trend of Nifty continues to remain positiveNifty is facing immediate resistance at the 200 EMA of 23400 If this hurdle is surpassed markets could advance toward the next resistance level of 23800 in the near term Support for the Nifty has shifted upward to the 2320023250 band said Devarsh Vakil Head of Prime Research at HDFC SecuritiesMeanwhile In the Sensex pack LampT PowerGrid NTPC Tech Mahindra Kotak Mahindra Bank HCLTech Tata Motors Bajaj Finance Maruti Suzuki and Sun Pharma were the top gainers Whereas Titan UltraTech Cement Hindustan Unilever Limited and Infosys were the top losersIn the last trading session on Friday Dow Jones in the US added 008 per cent to close at 4198535 The SampP 500 climbed 008 per cent to 566756 and the Nasdaq raised 052 per cent to close at 1778405In the Asian markets Hong Kong Jakarta China Japan Seoul and Bangkok were trading in redUS index futures are also buoyant on signs that the next round of Trumps trade tariffs on April 2 could be more measured than previously suggestedOn the institutional front foreign institutional investors FIIs continued their buying streak for the second consecutive day on March 21 last trading session purchasing equities worth Rs 747036 crore Meanwhile domestic institutional investors DIIs extended their selling spree offloading equities worth Rs 320226 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-higher-amid-potential-us-tariff-flexibility-608062.html Mon, 24 Mar 2025 10:08:00 +0530 https://dailyworld.in/market/india-leads-with-highest-market-cap-gain-globally-in-4-years-608112.html Mumbai March 24 Indias stock market recorded the highest monthly gain among the worlds ten largest equity markets in March rising 94 per cent in dollar terms as per latest stock exchange data This marks the strongest rally in four years following five consecutive months of declineAccording to the exchange data the total market capitalisation of all listed companies on the Bombay Stock Exchange BSE surged to approximately 48 trillion up from around 439 trillion at the end of FebruaryThis is the biggest monthly jump since May 2021 India outperformed other major markets with Germany following at a distant second with a 564 per cent rise in market capitalisation to over 281 trillionJapan and Hong Kong gained 49 per cent and 4 per cent respectively France the United Kingdom and Canada also recorded modest growthIn contrast the US the worlds largest equity market saw a decline of 37 per cent while Saudi Arabia fell by 44 per centIndian equity benchmarks Sensex and Nifty climbed 5 per cent each in March while the broader BSE MidCap and SmallCap indices saw even sharper gains of 84 per cent and 98 per cent respectivelyThe rally was fuelled by value buying and growing expectations that the Reserve Bank of India RBI may soon cut interest ratesInvestor sentiment also improved after the US Federal Reserve indicated it could lower interest rates twice in 2025Indias inflation rate remained below the RBIs mediumterm target of 4 per cent strengthening hopes that the central bank may announce a rate cut in its upcoming April policy reviewAnalysts also anticipate fresh liquidity measures from the RBI which has already injected around Rs 3 lakh crore into the banking system through various steps such as repo auctions and open market operationsMarket experts suggest that shortterm traders may consider booking profits after the sharp rally while longterm investors should stay invested as further upside is possible if corporate earnings remain strongWhile market conditions can change experts recommend focusing on fundamental analysis rather than shortterm market trends IANS https://dailyworld.in/market/india-leads-with-highest-market-cap-gain-globally-in-4-years-608112.html Mon, 24 Mar 2025 14:07:00 +0530 https://dailyworld.in/market/national-stock-exchange-begins-electronic-settlement-of-unlisted-shares-608114.html Mumbai March 24 The National Stock Exchange of India NSE on Monday started settling trades of its unlisted shares electronically marking marks a major shift from the previous manual process The transactions will now be handled through Central Depository Services India Ltd CDSL making the transfer process faster and more efficientThe stock exchange had announced this change on FridayDespite this transition NSE clarified that its shares will remain unlisted meaning they will not be publicly traded on any stock exchangeHowever the move ensures that offmarket transfers comply with the Securities and Exchange Board of Indias SEBI regulations under the Securities Contracts Regulation Stock Exchanges and Clearing Corporations Regulations 2018Unlisted shares refer to privately held shares of companies that are not traded on public stock exchangesThese include shares of startups earlystage firms and large companies like NSE that have not gone publicThe decision to shift to electronic settlement is expected to significantly reduce trade settlement times which previously took up to four to five months due to approvals required from NSE and SEBINow the process will be completed in just a few days This change is expected to boost trading activity in the grey market where NSEs unlisted shares have seen strong demandThe interest has grown especially after BSE Limiteds stock surged nearly 5000 per cent over the past five yearsUnder the new system shareholders can transfer their unlisted NSE shares using a delivery instruction slip DIS through CDSLThe activation of NSEs international securities identification number ISIN from March 24 has enabled electronic transfers eliminating the need for manual submission of transfer applicationsNSE has also confirmed that the earlier twostage share transfer application process has been discontinuedThe move comes after SEBI directed a more structured framework for unlisted share transactions last year IANS https://dailyworld.in/market/national-stock-exchange-begins-electronic-settlement-of-unlisted-shares-608114.html Mon, 24 Mar 2025 14:08:00 +0530 https://dailyworld.in/market/national-stock-exchange-begins-electronic-settlement-of-its-unlisted-shares-608115.html Mumbai March 24 The National Stock Exchange of India NSE on Monday started settling trades of its unlisted shares electronically marking marks a major shift from the previous manual process The transactions will now be handled through Central Depository Services India Ltd CDSL making the transfer process faster and more efficientThe stock exchange had announced this change on FridayDespite this transition NSE clarified that its shares will remain unlisted meaning they will not be publicly traded on any stock exchangeHowever the move ensures that offmarket transfers comply with the Securities and Exchange Board of Indias SEBI regulations under the Securities Contracts Regulation Stock Exchanges and Clearing Corporations Regulations 2018Unlisted shares refer to privately held shares of companies that are not traded on public stock exchangesThese include shares of startups earlystage firms and large companies like NSE that have not gone publicThe decision to shift to electronic settlement is expected to significantly reduce trade settlement times which previously took up to four to five months due to approvals required from NSE and SEBINow the process will be completed in just a few days This change is expected to boost trading activity in the grey market where NSEs unlisted shares have seen strong demandThe interest has grown especially after BSE Limiteds stock surged nearly 5000 per cent over the past five yearsUnder the new system shareholders can transfer their unlisted NSE shares using a delivery instruction slip DIS through CDSLThe activation of NSEs international securities identification number ISIN from March 24 has enabled electronic transfers eliminating the need for manual submission of transfer applicationsNSE has also confirmed that the earlier twostage share transfer application process has been discontinuedThe move comes after SEBI directed a more structured framework for unlisted share transactions last year IANS https://dailyworld.in/market/national-stock-exchange-begins-electronic-settlement-of-its-unlisted-shares-608115.html Mon, 24 Mar 2025 14:08:00 +0530 https://dailyworld.in/market/indias-bond-market-hits-269-trillion-milestone-608136.html New Delhi March 24 Indias bond market reached a valuation of 269 trillion by the end of December 2024 which marks a significant milestone in the countrys journey towards becoming a 78 trillion economy in the next five years Capital formation in India will be increasingly driven by the expanding bond markets with the corporate bond segment alone crossing 602 billionThe rapid growth of the bond market comes at a time when India is gaining global recognition particularly with the inclusion of its government bonds in major international indices said the IndiaBondscom reportFrom January 31 Indian government bonds were phased into the Bloomberg Emerging Market EM Local Currency Government Index following a similar move by JP Morgan which had added Indian bonds to its index in June 2024According to data from the Clearing Corporation of India Ltd CCIL and the Securities and Exchange Board of India SEBI the ongoing global integration of Indias bond market is expected to attract higher foreign inflowsWith Indias Fully Accessible Route FAR bonds becoming a part of Bloombergs EM Index foreign investment in the segment is likely to rise further enhancing liquidity and strengthening the countrys financial ecosystemExperts believe that increased foreign participation will provide a significant boost to corporate bond investments as wellThe steady inflow of global funds will not only deepen the bond market but also support infrastructure and development projects crucial for Indias economic expansionOnce fully phased into global indices India is set to join the ranks of China and South Korea as one of the largest players in the Bloomberg Emerging Market 10 per cent Country Capped IndexMarket analysts expect that this recognition will make Indian bonds more attractive to global investors further solidifying Indias position as a growing financial powerhouseAccording to reports the robust domestic demand and increasing global confidence in Indian debt instruments will help the bond market to play a pivotal role in achieving the countrys ambitious economic goals IANS https://dailyworld.in/market/indias-bond-market-hits-269-trillion-milestone-608136.html Mon, 24 Mar 2025 16:11:00 +0530 https://dailyworld.in/market/stock-markets-rally-for-6th-straight-day-sensex-jumps-over-1-000-points-608145.html Mumbai March 24 The Indian stock markets on Monday continued their winning streak for the sixth consecutive trading session with both Sensex and Nifty ending the day with robust gains Investors remained optimistic as key indices surged over 1 per cent each during the intraday trade The 30share Sensex climbed 107887 points or 140 per cent to close at 7798438 During the day it even touched an intraday high of 7810723Similarly the Nifty index ended 30795 points higher or 132 per cent at 2365835 after reaching a high of 2370875 earlier in the sessionMarket sentiment was bullish with 24 out of 30 Sensex stocks closing in the green NTPC Kotak Mahindra Bank SBI Tech Mahindra and Power Grid Corporation were among the top gainers rising up to 463 per centOn the other hand Nestle India Bharti Airtel Mahindra amp Mahindra Zomato IndusInd Bank and Titan saw some declines with losses of up to 273 per centThe broader market also performed well as the Nifty Midcap100 and Smallcap100 indices rose over 1 per cent eachBanking stocks led the rally with PSU banks showing the strongest performance The Nifty PSU Bank index jumped 318 per cent while Bank Nifty and the Nifty Private Bank index also gained over 2 per centThe capital goods oil and gas power realty and telecom stocks also performed well rising between 12 per centApart from the Nifty Media index all other sectoral indices on the NSE ended in positive territory adding to the upbeat mood in the marketWith every sector closing positively and banking stocks leading the charge the markets bullish momentum remains intact said Sundar Kewat of Ashika Institutional EquityHe added that investors now await further cues to gauge whether this rally has more room to runOn Friday foreign institutional investors FIIs recorded a net inflow of Rs 7470 crore reinforcing market confidenceFIIs also increased their long positions in index futures with the LongShort ratio improving to 318 per cent indicating a gradual shift towards optimism a factor that likely boosted sentiment in todays sessionThe Indian rupee also showed strength closing 34 paise higher at 8563 per US dollar compared to Fridays close of 8597According to Vinit Bolinjkar Head of Research at Ventura this strengthening of the rupee is supported by favourable domestic factors and the RBIs policies IANS https://dailyworld.in/market/stock-markets-rally-for-6th-straight-day-sensex-jumps-over-1-000-points-608145.html Mon, 24 Mar 2025 16:51:00 +0530 https://dailyworld.in/market/manohar-lal-assures-odisha-of-centres-support-to-strengthen-power-sector-608002.html Bhubaneswar March 23 Union Minister of Power Manohar Lal held a detailed review meeting here on Sunday with senior Odisha government officials on the development of the states power sector The discussions covered key issues including fly ash utilisation capacity addition transmission infrastructure and power allocationManohar Lal assured the state that a joint meeting with the ministries of Coal Environment and Railways will be convened to comprehensively address the issue of fly ash disposal This would include the provision of adequate rail rakes for longdistance transportation of the fly ashHighlighting the need to meet growing power demands the state government informed that Odisha currently has 20 GW of operational coalbased thermal power capacity with an additional 10 GW in the pipeline expected to be commissioned over the next five to six years The Union Minister encouraged the development of more pithead thermal power plants in Odisha including through joint ventures with GENCOs of other statesOn the transmission front Odisha shared its intrastate planning strategy and recent progress in strengthening supply to cities like Bhubaneswar and Cuttack The Minister was also apprised of the steps taken by the Odisha Power Transmission Corporation Limited OPTCL to resolve Right of Way RoW issues He informed that the proposal for establishing a Green Energy Corridor within the intrastate transmission network of Odisha will be taken up by MNRE after March 31 2025 upon completion of the compilation processRegarding the inclusion of Odisha in the subsequent phase of the Revamped Distribution Sector Scheme RDSS the Union Minister assured that the matter would be taken up appropriately On power allocation he stated that Odisha will receive adequate power from Phase II of NLCILs Talabira Thermal Power Project in line with Ministry of Power guidelinesHe assured the state that the Centre was working to strengthen Odishas power infrastructure and facilitate sustainable growth in the energy sector IANS https://dailyworld.in/market/manohar-lal-assures-odisha-of-centres-support-to-strengthen-power-sector-608002.html Sun, 23 Mar 2025 18:25:00 +0530 https://dailyworld.in/market/stock-markets-see-biggest-weekly-gain-in-4-years-adopt-buy-on-dips-strategy-607825.html New Delhi March 22 The Indian stock markets witnessed a strong rebound this week with benchmark indices Nifty and Sensex surging over 4 per cent best weekly performance in four years and the rally was fuelled by improving investor sentiment improvement in foreign flows and positive global developments experts said on Saturday The Nifty gained over 4 per cent the highest weekly since February 2021 The Sensex also surged 4 per cent the most since July 2022The resurgence in market sentiment was fuelled by the comeback of FIIs amid a strengthening Indian rupee Additionally the steep correction in many stocks over recent months created opportunities for value buying attracting investors looking to capitalise on lower valuationsNifty closed at 233504 while Sensex ended the week at 7690551 both near their weekly highsBenchmark indices rose for fifth straight session on Friday as broadbased buying propelled the market higher Broader market extended up move as Nifty midcap and smallcap closed higher by 14 per cent and 21 per cent respectively according to Bajaj Broking ResearchSeveral factors contributed to the sharp recovery Easing pressure from foreign institutional investors FIIs marked by positive flows in both cash and derivatives segments provided muchneeded stability Additionally crude oil prices and the dollar index remained at lower levels after a recent decline supporting market sentiment said Ajit Mishra SVP Research Religare Broking LtdFurther dovish signals from the US Federal Reserve regarding future rate cuts coupled with reports of deescalation in the RussiaUkraine conflict added to the optimismThe rally was broadbased with all key sectors participating Realty energy and pharma emerged as the top gainers while midcap and smallcap indices surged between 77 per cent and 86 per cent adding to the overall market buoyancyAccording to experts with no major domestic economic events scheduled focus will remain on the expiry of March derivatives contracts and FII activityOn the global front the US markets will be closely watched with tariffrelated updates and GDP growth data expected to influence investor sentiment Although US markets saw a temporary respite after a sharp decline mixed signals suggest potential volatility in the coming sessionsTraders are advised to adopt a buy on dips strategy focusing on sectors that have demonstrated consistent strength Banking financials metals and energy stocks remain preferred picks while selective opportunities can also be explored in PSU and auto stocks said market watchers IANS https://dailyworld.in/market/stock-markets-see-biggest-weekly-gain-in-4-years-adopt-buy-on-dips-strategy-607825.html Sat, 22 Mar 2025 15:57:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-flat-amid-mixed-global-cues-607558.html Mumbai March 21 The domestic benchmark indices opened flat on Friday amid mixed global cues as selling was seen in the IT sector in the early trade At around 931 am Sensex was trading 777 points or 001 per cent down at 7634029 while the Nifty declined 225 points or 001 per cent at 2319290Nifty Bank was up 6010 points or 012 per cent at 5012295 The Nifty Midcap 100 index was trading at 5123135 after adding 8695 points or 017 per cent Nifty Smallcap 100 index was at 1595115 after climbing 9310 points or 059 per centAccording to experts after a flat opening Nifty can find support at 23100 followed by 23000 and 22900On the higher side 23250 can be an immediate resistance followed by 23350 and 23400 said Hardik Matalia from Choice BrokingIndian equities climbed to their highest level in over a month on Thursday propelled by the US Federal Reserves signal of additional interest rate cuts later this year Nifty closed above its 50day EMA for the first time since February 5 2025 Following a robust 1200point rally from recent lows shortterm traders should reassess their bullish positions as the market enters a strong resistance zone between 2320023400 levels Support for the Nifty has now shifted higher to the 2295023000 range according to Devarsh Vakil Head of Prime Research HDFC SecuritiesMeanwhile In the Sensex pack Infosys TCS HCL Tech Tech Mahindra Zomato Titan IndusInd Bank LampT Asian Paints ICICI Bank and Axis Bank were the top losers Whereas Bajaj Finance Nestle India Sun Pharma Maruti Suzuki Bajaj Finserv and Adani Ports were the top gainersIn the last trading session Dow Jones in the US declined 003 per cent to close at 4195332 The SampP 500 declined 022 per cent to 566289 and the Nasdaq dropped 033 per cent to close at 1769163In the Asian markets Hong Kong Jakarta and China were trading in red Whereas Japan Seoul and Bangkok were trading in greenThe foreign institutional investors FIIs bought equities worth Rs 323914 crore on March 20 On the other hand after remaining net sellers for the last 29 sessions domestic institutional investors DIIs sold equities of Rs 313602 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-flat-amid-mixed-global-cues-607558.html Fri, 21 Mar 2025 09:59:00 +0530 https://dailyworld.in/market/sensex-nifty-continue-upward-trend-gain-over-1-pc-after-us-feds-move-607442.html Mumbai March 20 IANS Indian stock markets extended their winning streak on Thursday with both Sensex and Nifty closing higher by over 1 per cent led by buying across various sectorsnbspBoth the exchanges reacted to global trends after the US Federal Reserve kept interest rates unchanged The US Fed maintained its policy rate in the 425 per cent to 450 per cent range but signalled a potential halfpercentagepoint cut by the end of the yearnbspThe Sensex ended the day at 7634806 gaining 899 points or 119 per cent During the intraday session it moved between 7645625 and 7568458The Nifty also surged by 283 points or 124 per cent closing at 2319065 The index touched an intraday high of 2321670 and a low of 2297395nbspMarket sentiment remained bullish with 44 out of 50 Nifty stocks closing in the greennbspThe biggest gainers included Bharti Airtel Titan Britannia Eicher Motors and Bajaj Auto which saw gains of up to 408 per centnbspHowever a few stocks including IndusInd Bank Trent Shriram Finance and Bajaj Finance ended lower UltraTech Cement and Axis Bank remained flatnbspBroader market indices also performed well The Nifty Midcap100 index gained 064 per cent while the Nifty Smallcap100 index rose by 070 per centAll sectoral indices on the NSE ended with gains Sectors such as IT Auto FMCG Metal Media Realty Oil ampamp Gas Consumer Durables and Healthcare rose by over 1 per cent eachnbspWhile all sectors closed in the green these stood out with notable strength The US indices also gained further boosting sentimentnbspAccording to experts the primary catalyst for todays rally was the Federal Reserves decision to keep interest rates steady while signalling two potential rate cuts later this year which fueled optimism across global marketsThe Indian rupee also saw an improvement closing at 8636 per dollar compared to the previous days closing of 8644nbspAccording to Sundar Kewat from Ashika Institutional Equity sectoral performance was broadly positive with Oil and Gas Consumption IT Automobiles and Consumer Goods leading the gainsnbspIn the broader Indian markets Nifty Midcap 100 and Nifty Smallcap indices witnessed strong gains reflecting broadbased buying interest he addedIANS https://dailyworld.in/market/sensex-nifty-continue-upward-trend-gain-over-1-pc-after-us-feds-move-607442.html Thu, 20 Mar 2025 16:38:00 +0530 https://dailyworld.in/market/sensex-nifty-close-higher-driven-by-financial-pharma-stocks-606824.html Mumbai March 17 The Indian stock market closed with strong gains on Monday driven by buying in financial pharma and select metal stocks Both the Sensex and Nifty saw a positive finish despite a mixed start to the day The Sensex opened on a cautious note briefly slipping to 73796 down 33 points in early tradeHowever it quickly gained momentum rallying to a high of 74376 which was 400 points above the intradays low After trading in a consolidated manner for the rest of the session the Sensex ended the day 341 points higher at 74170The Nifty index also started on a weak note opening with a 44point loss at 22353 But it soon recovered and climbed to an intraday high of 22577 By the end of the session the index settled at 22509 gaining 112 points or 05 per centAmong the topperforming stocks on the Sensex Bajaj Finserv surged 38 per cent to Rs 1875 Adani Ports Mahindra amp Mahindra Axis Bank and Bajaj Finance also recorded gains of around 2 per cent eachOther key gainers included Zomato ICICI Bank Sun Pharma UltraTech Cement Tata Motors and Tata SteelOn the downside ITC declined by 1 per cent while Nestle India SBI and Reliance Industries also ended in the negative territoryIn the broader market the BSE MidCap index gained 08 per cent while the SmallCap index closed flat Among sectors the BSE Healthcare financial services auto and metal indices gained around 1 per cent each on MondayAs the session progressed profit booking led to a 100point decline from the days high reflecting market participants cautious stance said Sundar Kewat from Ashika Institutional EquityHe added that on the global front sentiment received a boost as China unveiled a strategic action plan on Sunday to stimulate domestic demandAdditionally betterthanexpected industrial production and accelerating retail sales growth in China further supported optimism he mentionedRupee traded strong by 027 at 8686 against the dollar supported by a weak dollar index and lower outflows in the secondary capital markets in recent daysThe dollars weakness continues to provide support to the rupee while market participants are closely watching key US economic data releases including retail sales the Feds policy meeting and its statement later this week said Jateen Trivedi from LKP Securities IANS https://dailyworld.in/market/sensex-nifty-close-higher-driven-by-financial-pharma-stocks-606824.html Mon, 17 Mar 2025 16:42:00 +0530 https://dailyworld.in/market/fiis-selling-decline-in-indian-market-to-stabilise-in-next-quarter-experts-606572.html New Delhi March 16 FII selling in India continues in early March but the intensity of selling is slowly declining as valuations are becoming reasonable in the stock market according to experts This month up to March 14 FIIs have sold equity for Rs 30015 crore taking the total equity sold in CY 2025 so far to Rs 142616 croreIn the debt category FIIs were buyers in March so far The total buy figure for debt general category plus VRR stood at Rs 7029 crore in March to date say market watchersHowever the heightened uncertainty triggered by the trade war between the US and other nations is likely to push more money into safe asset classes like gold and the dollar they addedAccording to Shridatta Bhandwaldar Head Equities at Canara Robeco Mutual Fund FIIs have been significant sellers in the Indian equity market over the past three months with outflows amounting to 1520 billionHowever as the initial shocks subside we expect FII flows to at least stabilise in the next quarter and eventually turn positive over time he mentionedFor this to happen though our earnings will need to show substantial improvement from current levels We believe that the slowdown in earnings growth is more cyclical than structural noting that a similar trend was observed in FY23 he addedValuations for the Nifty index are already below its 10year average for oneyear forward earningsMeanwhile in the last week the Indian stock markets remained largely rangebound ending slightly lower amid mixed global cues and investor cautionThe benchmark indices saw mild corrections as concerns over global trade policies and sectorspecific selloffs weighed on sentimentAnalysts expect volatility to persist in the upcoming sessions as investors track global developments particularly economic data releases from the US Federal Reserve and domestic macroeconomic indicatorsWhile the 2225022650 range remains a key technical zone for the Nifty 50 a breakout in either direction could determine the markets trajectory in the near term as per market experts IANS https://dailyworld.in/market/fiis-selling-decline-in-indian-market-to-stabilise-in-next-quarter-experts-606572.html Sun, 16 Mar 2025 10:47:00 +0530 https://dailyworld.in/market/central-banks-gold-etfs-to-fuel-strong-demand-for-yellow-metal-in-2025-report-606590.html New Delhi March 16 Central banks and Gold Exchange Traded Fund ETF investors will continue to be the key drivers of gold demand in 2025 as per a report Geopolitical tensions and economic uncertainties are expected to push gold prices higher while central banks actions will play a significant role in shaping the precious metal marketAccording to the Motilal Oswal Private Wealth report gold emerged as one of the topperforming asset classes in India in 2024 with a remarkable 21 per cent return yearonyear YoYThe Indian market has shown a strong investment interest in gold driven by record inflows into gold ETFsIn 2024 Indian gold ETFs saw net inflows of Rs 112 billion adding 15 tonnes to their holdings which reached 578 tonnes by the end of the yearThis growth signals strong demand from both institutional and retail investors the report saidThe Reserve Bank of India RBI also continued its trend of gold accumulation adding 726 tonnes of gold to its reserves in 2024 bringing its total reserves to 876 tonnesThis marks the seventh consecutive year the RBI has been a net buyer of gold Gold now constitutes 106 per cent of the RBIs foreign exchange reservesWhile high prices affected jewellery demand the investment demand for physical gold especially bars and coins remained strongMotilal Oswal reports that although the demand was subdued in 2024 due to high prices it was expected to recover gradually in midJanuary driven by wedding season purchases However price stability will remain a key factor in this recoveryOn the silver front the report notes that there has been a persistent deficit in supply over the past four years with demand exceeding supply which has kept silver prices supportedIndustrial demand for silver has been steadily increasing since 2020 reaching alltime highs especially driven by manufacturing and industrial activity in China and the potential growth in green technologiesHowever silver remains more volatile compared to gold showing price swings similar to Indian equitiesTherefore while gold can serve as a longterm strategic asset in portfolios silver is recommended for more tactical allocations IANS https://dailyworld.in/market/central-banks-gold-etfs-to-fuel-strong-demand-for-yellow-metal-in-2025-report-606590.html Sun, 16 Mar 2025 13:05:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-higher-ahead-of-holi-606137.html Mumbai March 13 The Indian equity benchmark indices opened higher on Thursday amid mixed global cues as buying was seen in the Financial Service and PSU Bank sectors in the early trade At around 931 am Sensex was trading 6117 points or 008 per cent up at 7409093 while the Nifty added 215 points or 001 per cent at 2247265Nifty Bank was up 11310 points or 024 per cent at 4816975 The Nifty Midcap 100 index was trading at 4843680 after declining 4980 points or 010 per cent Nifty Smallcap 100 index was at 1498145 after declining 6290 points or 042 per centAccording to market watchers the Indian equity markets were expected to open on a flat to slightly bullish note as indicated by GIFT Nifty which was trading around 22570 in early trades reflecting a modest increase of 25 pointsThis suggests a cautious market sentiment influenced by global cues and the absence of strong domestic triggers Investors will closely monitor global trends crude oil prices and institutional flows to assess the markets direction said Hardik Matalia of Choice BrokingMeanwhile in the Sensex pack IndusInd Bank Tata Steel Zomato Bajaj Finserv ICICI Bank Tech Mahindra Infosys and SBI were the top gainers Whereas Hindustan Unilever Limited Sun Pharma Tata Motors UltraTech Cement and Asian Paints were the top losersAccording to experts given the prevailing market dynamics traders are advised to exercise caution and wait for confirmation of price action at critical levels before initiating fresh positionsIn the last trading session Dow Jones declined 020 per cent to close at 4135093 The SampP 500 added 049 per cent to 559930 and the Nasdaq climbed 122 per cent to close at 1764845In the Asian markets Bangkok Japan Seoul and Jakarta were trading in green Whereas China and Hong Kong were trading in redRegarding institutional activity foreign Institutional Investors FIIs offloaded equities worth Rs 162761 crore on March 12 while Domestic Institutional Investors DIIs purchased equities worth Rs 151035 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-higher-ahead-of-holi-606137.html Thu, 13 Mar 2025 15:45:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-lower-on-weak-global-cues-605771.html Mumbai March 11 The Indian equity benchmark indices opened lower on Tuesday amid weak global cues as selling was seen in the IT media and private bank sectors in the early trade At around 935 am Sensex was trading 37174 points or 050 per cent down at 7374343 while the Nifty declined 10425 points or 046 per cent at 2235605Nifty Bank was down 34975 points or 073 per cent at 4786705 The Nifty Midcap 100 index was trading at 4787230 after declining 56780 points or 117 per cent Nifty Smallcap 100 index was at 1494610 after declining 25205 points or 166 per centAccording to market watchers US President Donald Trumps flipflop tariff policy and the high uncertainty that it has triggered has started impacting US stock marketsSampP 500 and Nasdaq declining by 26 per cent and 4 per cent respectively yesterday is the markets response to Trumps tariffs and the possibility of US recession by the year end We will have to wait and watch how the situation develops they notedA significant consequence of the ongoing market correction is that India is now outperforming the USDuring the last one month while SampP 500 is down 75 per cent Nifty is down only 27 per cent More importantly the dollar index is down from 1093 when Trump assumed presidency to 10371 nowMeanwhile in the Sensex pack IndusInd Bank Infosys Zomato Tech Mahindra HCL Tech MampM Tata Motors TCS PowerGrid NTPC and Bajaj Finance were the top losers Whereas ICICI Bank Maruti Suzuki Sun Pharma ITC Adani Ports and Titan were the top gainersIn the last trading session Dow Jones declined 208 per cent to close at 4191171 The SampP 500 declined 270 per cent to 561456 and the Nasdaq dropped 400 per cent to close at 1746832In the Asian markets Japan Seoul Bangkok China Jakarta and Hong Kong were trading in redThe foreign institutional investors FIIs extended their selling on March 10 as they sold equities worth Rs 48541 crore However domestic institutional investors DIIs bought equities worth Rs 26351 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-lower-on-weak-global-cues-605771.html Tue, 11 Mar 2025 10:02:00 +0530 https://dailyworld.in/market/sensex-ends-flat-nifty-gains-amid-weak-global-cues-605832.html Mumbai March 11 IANS The Indian stock markets remained volatile on Tuesday but managed to recover from early lossesnbspThe benchmark indices Sensex and Nifty showed resilience despite weak global cues and concerns over a potential recession in the USnbspThe Sensex started the day with a sharp fall of 371 points and hit a low of 73664 However steady buying interest helped it recover reaching an intraday high of 74187nbspThe index eventually closed nearly flat down 13 points at 74102nbspThe Nifty traded in a broad range of over 200 points moving from a low of 22315 to a high of 22522 before settling 38 points higher at 22498 during an intraday trading sessionnbspDespite the shaky start Nifty demonstrated resilience erasing losses and trending higher throughout the session said Sundar Kewat of Ashika Institutional EquityKewat added that the index now hovers around the crucial resistance level of 22500 which will be closely watched in the coming sessionsnbspAmong the key stocks IndusInd Bank saw a sharp decline of 27 per cent after revealing discrepancies in its derivative portfolio which could impact its net worth by Rs 1577 crorenbspOn the other hand ICICI Bank and Bharti Airtel helped lift the market sentimentnbspTop gainers on the Nifty included Trent Sun Pharma ICICI Bank Shriram Finance and BPCL while major losers were IndusInd Bank Infosys Bajaj Finserv Power Grid Corporation and MampampMnbspSectorwise metal realty telecom and oil ampamp gas stocks gained between 05 per cent and 3 per cent while auto IT and banking stocks saw losses of 03 per cent to 07 per centIn the broader market the BSE Midcap index rose 07 per cent but the Smallcap index ended down by 07 per centnbspMeanwhile Morgan Stanley released a report predicting that the Sensex could reach 93000 by December 2025 in its basecase scenario and could touch 105000 in a bullish scenarionbspIn the currency market the Indian rupee strengthened ending 12 paise higher at 8721 per dollar compared to the previous close of 8733 as it was supported by weaker crude prices and a soft dollar indexIANS https://dailyworld.in/market/sensex-ends-flat-nifty-gains-amid-weak-global-cues-605832.html Tue, 11 Mar 2025 16:20:00 +0530 https://dailyworld.in/market/india-expected-to-enter-global-fisheries-certification-by-2025-end-605683.html Kochi March 10 In a major boost for Indias seafood export the country is expected to enter the global fisheries certification by the end of 2025 A stakeholder workshop held in Kochi on Monday highlighted that the country is making remarkable progress towards sustainable fisheries with most of the prioritised species nearing the completion of Fishery Improvement Projects FIPsThis is critical for assessing the fishery against the standard of Marine Stewardship Council MSC certification which includes sustainable stock levels minimal environmental impact and effective fishery management systemsThe capacity building workshop was hosted by the Sustainable Seafood Network India SSNI in association with various stakeholders to equip the stakeholders with the principles of MSC certification and to discuss progress towards sustainable fisheries management in IndiaMarine scientists government officials environmentalists certification experts and exporters attended In India a dozen prioritised fisheries have already conducted preassessments against the MSC Standards enabling stakeholders to develop clear action plans for improvementThe demand for certified seafood has witnessed a significant surge in the global markets the workshop observed Amanda Lejbowicz Head of Fisheries Standard Accessibility of MSC London said that over 15 per cent of the total marine catch across the globe is certified fisheryCertified seafood products in different forms such as canned chilled frozen and baby foods are on the rise with canned products registering a 9 per cent increase in demand last year said LejbowiczOn the growing status of fisheries certification she said more countries are joining the initiative with currently 63 countries being actively engaged in MSC certificationWith the growing global emphasis on sustainability ecolabelling has become a critical factor in market access competitiveness and export growth International buyers especially in Europe the US and Japan are increasingly demanding certified sustainable seafood said LejbowiczDr Sunil Mohamed eminent marine scientist and Chairman of the SSNI emphasised the critical need for integrating sustainability certification and auditing into university fisheries curricula saying that this would ensure a sufficient supply of auditing professionals in the fieldThe Marine Stewardship Council MSC is an international nonprofit organisation which sets globally recognised standards for sustainable fishing and the seafood supply chain IANS https://dailyworld.in/market/india-expected-to-enter-global-fisheries-certification-by-2025-end-605683.html Mon, 10 Mar 2025 19:06:00 +0530 https://dailyworld.in/market/market-recovery-driven-by-favourable-global-and-domestic-cues-maintain-positive-approach-experts-605384.html Mumbai March 8 After three consecutive weeks of losses the Indian stock market made a strong comeback closing the week with gains of nearly 2 per cent The recovery was driven by favourable global and domestic cues instilling confidence among investors The Nifty settled at 2255250 while the Sensex closed at 7433258 marking a significant reboundAccording to market watchers among the key drivers the global sentiment improved following reports of a delay in US tariffs and the possibility of further negotiations which helped stabilise financial marketsAdditionally a weaker dollar and a decline in crude oil prices further boosted investor confidence said Ajit Mishra SVP Research Religare Broking LtdOn the domestic front the Reserve Bank of Indias RBI decision to infuse additional liquidity into the system added to the positive momentumThe combination of these factors led to a broadbased rally across sectors with metal energy and pharmaceutical stocks emerging as the top gainers The broader indices also posted impressive gains rising between 26 per cent and 55 per cent Mishra mentionedKrishna Appala from Capitalmind Research said the market strength was driven by a broadbased recovery with Nifty 50 stabilising near fair valuations while mid and smallcaps saw continued buying after recent correctionsLarge caps appear wellpositioned with Nifty 50s PE below 20x aligning with historical norms Corporate balance sheets remain strong and 1012 per cent YoY earnings growth is expected to provide stability Appala addedSustaining this rally depends on earnings recovery and broader market sentimentWhile large caps appear better placed the broader market may consolidate unless earnings growth picks up said expertsThe upcoming trading week will be a holidayshortened one with market participants closely monitoring global developments in the absence of major domestic eventsKey factors to watch include fresh updates on tariff negotiations geopolitical tensions and their impact on the movement of the US dollar and crude oil prices said experts adding that given the prevailing scenario investors are advised to maintain a positive yet cautious approach IANS https://dailyworld.in/market/market-recovery-driven-by-favourable-global-and-domestic-cues-maintain-positive-approach-experts-605384.html Sat, 08 Mar 2025 14:58:00 +0530 https://dailyworld.in/market/indian-stock-market-ends-flat-smallcap-stocks-extend-rally-605189.html Mumbai March 7 The Indian stock market saw a volatile trading session on Friday with benchmark indices managing to stay in the positive territory Gains in metal stocks provided support while smallcap stocks continued their strong rally This was followed by two consecutive day bull run when the share market closed in greenThe Sensex ended at 7433258 down by just 751 points or 001 per cent During the intraday session the 30share index moved between a high of 7458643 and a low of 7403803The Nifty however managed to end slightly higher gaining 780 points or 003 per cent to close at 2255250 The index touched a high of 2263380 during the day but also slipped to an intraday low of 2246475The indices opened weak but recovered as buying interest emerged in select bluechip stocks including Tata MotorsOil and gas stocks also contributed to the recovery Broader markets outperformed with the smallcap index rising by 11 per cent marking its fourth consecutive session of gainsTodays market strength was driven by a broadbased recovery with Nifty 50 stabilising near fair valuations while mid and smallcaps saw continued buying after recent corrections said Krishna Appala from Capitalmind ResearchSustaining this rally depends on earnings recovery and broader market sentiment the expert addedAmong the top gainers in the Nifty pack were Tata Motors Bharat Electronics Nestle India and Bajaj AutoHowever some IT and banking stocks faced mild selling pressure which includes IndusInd Bank Shriram Finance NTPC BPCL and InfosysIn the broader market the Nifty Smallcap100 index continued its upward trend closing 067 per cent higher However the Nifty Midcap100 index slipped by 032 per centSectoral performance on the NSE was mixed Nifty Auto PSU Bank Metal Media and Oil amp Gas indices saw gains of up to 183 per cent while other sectors remained subduedOver the past week the Nifty gained 21 per cent while the Nifty Midcap 100 and Nifty Smallcap 250 surged 29 per cent and 58 per cent respectively IANS https://dailyworld.in/market/indian-stock-market-ends-flat-smallcap-stocks-extend-rally-605189.html Fri, 07 Mar 2025 16:33:00 +0530 https://dailyworld.in/market/stock-market-continues-upward-trend-for-2nd-straight-session-604980.html Mumbai March 6 Indian stock markets remained strong for the second consecutive session on Thursday with both the Sensex and Nifty closing in the green The 30share Sensex touched an intraday high of 7439080 before settling at 7434009 gaining 60986 points or 083 per cent Similarly the Nifty ended the session at 2254470 up by 20740 points or 093 per cent During the day the index moved within a range of 2255645 to 2224585 Market sentiment was largely positive with 38 out of the 50 Nifty stocks closing higherThe top gainers included Asian Paints Coal India BPCL Hindalco and Reliance Industries which saw gains of up to 475 per centHowever some stocks ended in the negative territory with Tech Mahindra Bharat Electronics Trent Britannia and Kotak Mahindra Bank declining by up to 235 per cent The rally extended beyond the benchmark indices with broader markets also witnessing gainsSmallcap stocks led the way as the Nifty Smallcap100 index jumped 132 per cent while the Nifty Midcap100 index also ended in positive territory with a 037 per cent gain Among sectoral indices most closed in the green except for the Nifty Realty index which was the only sector to end lowerAccording to Rupak De of LKP Securities the Nifty continues to rise filling the recent gap on the daily chart The RSI is recovering from a historical low and is currently in a bullish crossover In the short term the sentiment appears to favour the bulls On the higher end the index may move towards 2375023800 The sentiment is likely to remain strong unless the Nifty falls below 22300 said DeOn March 5 the Indian stock market staged a strong recovery with the Sensex and Nifty closing over 1 per cent higher after US Commerce Secretary Howard Lutnick signalled potential tariff relief for Mexico and CanadaThis raised hopes that other tariffs might also be reconsidered which helped in boosting investors sentimentGold continues to face strong resistance at 29202930 in COMEX triggering profit booking while in MCX Rs 86000 remains a key resistance level with support at Rs 84500Rs 84000 said experts IANS https://dailyworld.in/market/stock-market-continues-upward-trend-for-2nd-straight-session-604980.html Thu, 06 Mar 2025 16:35:00 +0530 https://dailyworld.in/market/britannia-ceo-rajneet-kohli-quits-companys-shares-dip-604994.html Mumbai March 6 FMCG major Britannia Industries announced on Thursday that its Executive Director and Chief Executive Officer CEO Rajneet Singh Kohli has resigned from his position with effect from March 14 2025 Kohli said he was resigning from Britannia in pursuit of an opportunity outside of the companyBritannia Industries shares fell by 058 per cent on Thursday and were trading at a price of Rs 4697 on the BSEThe Britannia board acknowledged the resignation through a resolution passed on the same day that Kohli quit He Kohli will be officially relieved of his duties at the close of business hours on March 14The Board of Directors of the Company vide Circular Resolution passed today ie 6th March 2025 has noted the resignation of Rajneet Singh Kohli and he shall be relieved from the services of the Company wef close of business hours on 14th March 2025 the company said in a press statementKohli joined as Britannias CEO in September 2022 and previously held leadership roles at Dominos India run by Jubilant Foodworks Asian Paints and CocaCola Co Britannia has not yet announced any plan for a successorThis is the second top level resignation from Britannia within a month as the company had announced the resignation of Chief Marketing Officer Amit Doshi on February 4 Doshi has resigned after a threeyear tenure with his last working day on March 17 2025Kohli had praised Doshis contributions and leadership to the company at the time of the announcement Doshi joined Britannia in 2022 and his responsibilities included increasing the topline revenue and drawing up a roadmap for new productsIn February the Britannia announced that it was planning to go for a 445 per cent price hike to prop up its profit However the management said that it was prepared for further adjustments if inflation persistsThe company which sells Jim Jam and NutriChoice biscuits reported a tepid 5 per cent increase in its consolidated net profit at Rs 582 crore for the OctoberDecember quarter of the current financial year IANS https://dailyworld.in/market/britannia-ceo-rajneet-kohli-quits-companys-shares-dip-604994.html Thu, 06 Mar 2025 17:37:00 +0530 https://dailyworld.in/market/small-town-women-in-india-see-big-pay-boost-as-their-salaries-jump-34-pc-in-3-years-report-605031.html New Delhi March 6 With more women from TierII and TierIII Indian cities joining the workforce their median salary has increased by 34 per cent over the past three years a new report said on Thursday According to job and professional networking platform Apnaco the number of women job seekers from smaller cities has increased four times between 2021 and 2024Job applications from these regions have also tripled reaching 128 million in 2024 This trend highlights a growing shift in employment patterns beyond major metro citiesSeveral factors have contributed to this rise including more job opportunities better digital accessibility and changing hiring strategies by employersThese developments have encouraged more women from nonmetro areas to explore different career paths and participate in the workforceSales business development administrative roles and customer support have become the most popular job sectors for women in smaller cities making up 55 per cent of total job applicationsAdditionally many women are showing interest in careers in marketing banking retail human resources hospitality teaching and healthcareA rising number of women are also entering unconventional roles with nearly six lakh applications in field sales 25 lakh in delivery and logistics and 15 lakh in security services in 2024Cities such as Lucknow Jaipur Indore Bhopal Surat Nagpur and Coimbatore have emerged as major job hubs for women contributing to 45 per cent of total job applications the report saidOther cities like Kanpur Bhubaneswar Ranchi Chandigarh Patna Ludhiana Vadodara and Guwahati are also growing as key employment centresA major trend observed is the increasing participation of fresh graduates Data from Apnaco shows that the number of freshers among women job seekers in TierII and III cities has risen 25 times reaching nearly nine lakh in 2024This indicates that more young women are looking for jobs immediately after finishing their education Digital job platforms have played a crucial role in helping fresh graduates find work opportunities more easily IANS https://dailyworld.in/market/small-town-women-in-india-see-big-pay-boost-as-their-salaries-jump-34-pc-in-3-years-report-605031.html Thu, 06 Mar 2025 20:35:00 +0530 https://dailyworld.in/market/india-must-go-for-out-of-the-box-ideas-to-ward-off-cyberattacks-uidai-official-604868.html Bengaluru March 5 India must develop innovative strategies and nurture young talent to protect its digital infrastructure as it has emerged as the second most targeted country for cyberattacks next only to the US according to S M D Jeelani Director of operations of the Unique Identification Authority of India UIDAI Inaugurating the SISAs Cybersecurity Centre of Excellence Lab at Dayananda Sagar University DSU here Jeelani said The lab is a critical step in shaping a new generation of cyber leaders who can play a key role and offer outofthebox thinking and expertise to protect our digital ecosystemThe initiative is aimed at training students in industryrelevant cybersecurity skills preparing them to address emerging threatsDharshan Shanthamurthy CEO of SISA sees the lab as a collaboration hub fostering student innovation and contributing to the development of the global cybersecurity landscapeWe believe the impact of this initiative will extend far beyond the classroom driving innovation and strengthening the global cybersecurity landscape saidThe initiative aligns with the Indian governments goals for national development particularly through its inclusion in the central internship program that is a brainchild of the PM ModiThe centre will serve as a platform to support the central governments internship programme announced during the Union Budget 2025 and will play a crucial role in achieving the goal of Viksit Bharat by 2047 Shanthamurthy saidIndia emerged as the second most targeted nation in terms of cyberattacks in the world as 95 Indian entities came under data theft attacks in 2024 according to a report by cyber intelligence firm CloudSEKAccording to the companys ThreatLandscape Report 2024 based on data monitoring in the dark web the US was the most targeted country with 140 attacks due to its economic dominance and digital infrastructure followed by IndiaThe threat actors impacted various sectors in India with the finance and banking sectors experiencing the highest number of victims at 20 This was followed by the government sector with 13 victims telecommunications with 12 and the healthcare pharma and education sectors with 10 and 9 victims respectively the report saidLockbit was the most active ransomware group in India being responsible for over 20 incidents in the country followed by more than 15 targets by Killsec Ransomhub ransomware was responsible for over 12 incidents in the country the report said IANS https://dailyworld.in/market/india-must-go-for-out-of-the-box-ideas-to-ward-off-cyberattacks-uidai-official-604868.html Thu, 06 Mar 2025 00:36:00 +0530 https://dailyworld.in/market/indian-stock-market-opens-flat-sensex-above-73-600-604899.html Mumbai March 6 The Indian benchmark indices opened almost flat on Thursday amid mixed global cues as selling was seen in the IT and FMCG sectors in the early trade At around 933 am Sensex was trading 5807 points or 0008 per cent down at 7367216 while the Nifty declined 1265 points or 006 per cent at 2232465Nifty Bank was up 20585 points or 042 per cent at 4869580 The Nifty Midcap 100 index was trading at 4964970 after gaining 48135 points or 098 per cent Nifty Smallcap 100 index was at 1542935 after rising 12830 points or 092 per centAccording to market watchers after a positive opening Nifty can find support at 22200 followed by 22100 and 22000 On the higher side 22450 can be an immediate resistance followed by 22550 and 22700The RBI will conduct two open market operations purchases worth Rs 50000 crore each on March 12 and March 18 and a USDINR BuySell Swap auction of 10 billion dollar for a tenor of 36 months on March 24 This will inject more liquidity into the systemThe Nifty closed above its 5day exponential moving average EMA for the first time since February 6 2025 potentially signalling a reversal from a bearish to a bullish trend in the short term said Devarsh Vakil Head of Prime Research at HDFC SecuritiesMeanwhile in the Sensex pack Tata Motors Asian Paints Zomato Tata Steel IndusInd Bank Hindustan Unilever ICICI Bank Axis Bank HCL Tech TCS and Bajaj Finserv were the top gainers Whereas Kotak Mahindra Bank PowerGrid Infosys and UltraTech Cement were the top losersIn the last trading session Dow Jones gained 114 per cent to close at 4300659 The SampP 500 added 112 per cent to 584263 and the Nasdaq added 146 per cent to close at 1855273In the Asian markets Only Bangkok was trading in red Whereas China Japan Seoul Jakarta and Hong Kong were trading in greenThe foreign institutional investors FIIs extended their selling on tenth day on March 5 as they sold equities worth Rs 289504 crore However domestic institutional investors DIIs also extended their buying on 20th day as they bought equities worth Rs 337060 crore on the same day IANS https://dailyworld.in/market/indian-stock-market-opens-flat-sensex-above-73-600-604899.html Thu, 06 Mar 2025 09:57:00 +0530 https://dailyworld.in/market/stock-market-shrugs-off-tariff-fears-sensex-nifty-end-over-1-pc-higher-604741.html Mumbai March 5 IANS The Indian stock market made a strong recovery on Wednesday with both the Sensex and Nifty closing over 1 per cent higher as US Commerce Secretary Howard Lutnick hinted at possible relief on some tariffs for Mexico and CanadanbspThis raised hopes that other tariffs might also be reconsidered which helped cool off investors sentimentnbspThe 30share Sensex surged 74030 points or 101 per cent to settle at 7373023 after touching the days high of 7393380 in the intraday trading sessionnbspThe Nifty also ended the day on a strong note at 2233730 up 25465 points or 115 per cent breaking its 10day losing streaknbspEarlier Nifty had traded between 2239490 and 2206780 during the session The index had previously lost 877 points or 38 per cent over the last ten trading sessionsAnalysts attributed the intraday bull run to strong buying in auto power and tech stocksnbspTechnically Nifty on a daily scale has formed a bullish belt hold candlestick pattern suggesting strength said Hrishikesh Yedve from Asit C Mehta Investment Interrmediates LtdnbspHe added that till the index holds the support of 21800 a shortterm pullback towards 2230022500 could be possiblenbspInvestor sentiment remained bullish as 46 out of 50 stocks in the Nifty index closed in the greennbspThe biggest gainers included Adani Ports Tata Steel Adani Enterprises Mahindra ampamp Mahindra and Power Grid Corporation with gains of up to 515 per centHowever some stocks such as Bajaj Finance Indian Bank HDFC Bank and Shriram Finance ended lower with losses of up to 337 per centnbspBroader market indices also followed the benchmark indices upward trend Smallcap stocks performed the best with the Nifty Smallcap100 index rising 296 per cent while the Nifty Midcap100 index gained 242 per centnbspAll sectoral indices on the NSE ended in the green reflecting a broadbased recovery across industries with Nifty Auto BSE Power and BSE Metal emerging as the top performersThe broader markets also witnessed an uptrend as both the BSE Midcap and BSE Smallcap indices rose more than 2 per cent supported by strong buying activitynbspNifty witnessed a solid rebound as the 2180022000 zone provided strong support The index has moved up after two days of sideways trading Besides the RSI is in a bullish crossover and has risen from the oversold zone In the short term the trend is likely to remain strong with the potential to rise towards 22700 and higher On the lower end support is placed at 2210022000 said Rupak De of LKP SecuritiesIANS https://dailyworld.in/market/stock-market-shrugs-off-tariff-fears-sensex-nifty-end-over-1-pc-higher-604741.html Wed, 05 Mar 2025 16:41:00 +0530