India Financial News

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Manmohan Singh (91) bid adieu to the Rajya Sabha today, marking the end of his remarkable three-decade-long tenure. AICC president Mallikarjun Kharge paid tribute to Singh's dedicated service, expressing admiration for his unwavering commitment to the nation. Kharge in a post on X wrote, «As you retire today from the Rajya Sabha after having served for more than three decades, an era comes to an end. Very few people can say they have served our nation with more dedication and more devotion than you. Very few people have accomplished as much as you for the nation and its people.» Prime Minister Narendra Modi some time back had also lauded his role as a member of the upper house and said his contributions would never be forgotten. Modi also said that Singh sometimes came to vote while being on a wheelchair, and that he did to strengthen democracy.

Jawaharlal Nehru and claimed that past errors were responsible for contemporary issues such as the Pakistan Occupied Kashmir (POK) and China's occupation of certain Indian territories. During his address at the Gujarat Chamber of Commerce and Industry in Ahmedabad, Jaishankar referenced a historical instance when India was offered a permanent seat in the UN Security Council, highlighting Nehru's alleged statement of "India second, China first." Addressing the audience at the Gujarat Chamber of Commerce and Industry, Jaishankar responded to the query regarding whether India should accept the status quo of Pakistan Occupied Kashmir (POK) and territories occupied by China, or pursue efforts to reclaim them.

In many ways, the recently concluded agreement between India and the European Free Trade Association (EFTA) is mainly a confidence building measure for India in the run-up to trade agreements likely to be pursued after general elections with the EU and UK. In most cases, the I-EFTA pact will have limited impact—India’s principal import from the four-nation group, gold, is not subject to pre-determined tariff reductions, while agricultural imports are excluded.

Read the full story here.)Sensex Today Live : Indian stock markets were likely to open on a negative note, tracking falls in global peers as markets digested the risk of a longer wait for rate cuts by the US Federal Reserve.The Gift Nifty futures, at 22,455, at 7:56 am, were below Tuesday's Nifty 50 close of 22,453.30, indicating a slow start for Indian benchmarks.Asian shares tracked Wall Street lower on Wednesday as U.S. yields held near four-month highs, while a powerful earthquake in the region raised concerns about possible disruptions to the vital chip-making industry.Markets are also pondering the risk of slower rate cuts ahead of U.S.

The last fiscal year ended on an upbeat note for India’s economy, going by the purchasing managers’ index (PMI) for the manufacturing sector. It hit a 16-year high of 59.1 in March, the highest level since February 2008.

A heady air of mutual—and self— congratulation hovered over the Reserve Bank of India’s (RBI) 90th-year celebration held on 1 April. It was almost palpable in the speeches made.

Sensex fell 110.64 points to close at 73,903.91, while the Nifty 50 settled 8.70 points, or 0.04%, lower at 22,453.30. Also Read: Indian stock market: 8 key things that changed for market overnight - Gift Nifty, Tesla sales drop to rising oil prices Nifty 50 formed a small negative candle on the daily chart with minor upper and lower shadows. “Technically, this pattern signals the formation of a doji-type pattern.

Day trading stocks for today: Following a sell-off in the US stock market on Monday, the Indian stock market snapped its three-day rally despite a sharp last-half-hour recovery on Tuesday. The Nifty 50 index went off 8 points and closed at 22,453 level, the BSE Sensex lost 110 points and finished at the 73,903 mark while the Bank Nifty index corrected 32 points and ended at 47,545 level.

Jeff Bezos is expanding his real estate portfolio with a third mansion on South Florida's exclusive Indian Creek island. As reported by Bloomberg, the founder of Amazon.com Inc. has reportedly agreed to pay around $90 million in an off-market deal for a six-bedroom home in the Miami-area enclave.

Sensex fell 110.64 points, or 0.15%, to close at 73,903.91, while the Nifty 50 settled 8.70 points, or 0.04%, lower at 22,453.30. Also Read: Buy or sell: Vaishali Parekh recommends three stocks to buy today — April 3 “We are seeing renewed optimism in the broader market in the mid & small cap stocks after the sharp correction over the past few months. There is a lot of money waiting on the sidelines to be invested in medium enterprises amid easing valuations and hopes of strong economic growth going ahead," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

Heatwave conditions are expected to persist over portions of east and peninsular India from April 3 to April 6. Karnataka and Coastal Andhra Pradesh are likely to experience heatwave conditions on April 4, while isolated places in Odisha, West Bengal, and Jharkhand may also face heat wave conditions during this period. Heatwaves are predicted in isolated pockets of Rayalaseema, Gangetic West Bengal, and East Madhya Pradesh from April 3rd to 5th.

Indian stock market today: Only one stock has been banned for trade on Wednesday, April 3, 2024, under the futures and options (F&O) segment by the National Stock Exchange (NSE). The stock has been put on ban under the F&O segment as it crossed 95% of the market-wide position limit (MWPL), according to the NSE. However, the stock will be available for trading in the cash market.

Stock market today: Both the domestic equity benchmarks, Sensex and Nifty 50, halted their three-day winning streak, as the 30-share benchmark plummeted by 110 points. The 30-share BSE Sensex declined by 110.64 points or 0.15 per cent to settle at 73,903.91. Meanwhile, the broader NSE Nifty dipped 8.70 points or 0.04 per cent to 22,453.30.

Also Read: RBI policy meet: SBI says there could be no rate cut before Q3FY25; here's why According to a majority of analysts and economists on D-Street, the RBI would keep its key repo rate unchanged at 6.50 per cent at the conclusion of the April 3-5 MPC meeting, continuing its stance of ‘withdrawal of accommodation’. However, the recent uptick in crude oil prices over geopolitical conflicts is likely to keep the MPC's focus on inflation and managing the impact of global headwinds, despite record-high economic growth in the previous quarter. "The MPC is unlikely to act on policy rates on April 5th.

Buy or sell stocks for today: Indian stock market snapped its three-day winning streak in the previous session dragged by profit booking in select auto and bank stocks and foreign fund outflows. Analysts expect volatility to persisist as investors will closely monitor the Monetary Policy Committee (MPC) meeting by the Reserve Bank of India (RBI) starting Wednesday, with the first outcome for the new fiscal 2024-25 (FY25) to be pronounced on Friday. The RBI's rate-setting panel is expected to maintain a pause on the key interest rates over the current economic growth trajectory and retail inflation data.

IPL 2024 season has now entered its second month with fifteen matches been played till now. There have been record breaking feats, eye-catching batting and bowling performances, athletic fielding and most importantly, the celebration of cricket in all forms, in these matches of the Indian Premier League played till now.

Dixon Technologies, India’s largest electronics contract manufacturer, is in initial talks to buy a majority stake in the local phone-making unit of China’s Transsion Holdings, people aware of the details told ET. Transsion’s India business is valued at about Rs 700 crore, they said. The talks come amid greater scrutiny of Chinese firms operating in the handset ecosystem. The Centre wants Indian companies and executives to have more sway over the country’s mobile phone industry, currently dominated by Chinese handset brands, as part of an informal mandate, according to people with knowledge of the matter.

R Praggnanandhaa will enter as the favourite among the three Indian participants in the Candidates chess tournament that will get underway here from Wednesday to decide the challenger for the next world championship match. After nearly 35 years as many as three Indians – Praggnanandhaa, D Gukesh and Vidit Gujrathi — have qualified for the most prestigious event of the year that has just eight participants. According to an expert, India is the new Russia of the chess world, as in the past such dominance was only shown by Russian players.

Cement producers across the country are set to hike prices by an average of Rs 10-15 per bag this month, even as demand is seen subdued due to a slowdown ahead of general elections. While price hikes could be sharper in some regions, including southern India, dealers do not see these sustaining and expect hikes of only around Rs 10-20 to hold up. Cement prices have corrected for five months in a row now, and average prices for the March quarter are 5-6% lower as compared to the December quarter, with price cuts sharpest in east and south India.

liquefied natural gas is catalysing energy companies and auto majors to gear up to serve the long-haul LNG trucking segment. To cater to these medium and heavy commercial vehicles, oil marketing companies are planning to expand the compressed natural gas dispensing infrastructure in their fuel retail outlets to dispense LNG. They are planning to set up LNG retailing outlets along major national highways. «Setting up of an LNG station will cost anywhere up to ₹8-₹12 crore. A fuel retail outlet costs only up to ₹1.5 crore. We are evaluating options to maximise investment and expand CNG dispensing stations to include LNG,» said a senior executive from an oil marketing company.