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With core inflation touching an all-time low, which is an indication of excess capacity in the economy, it makes a strong case for rate cuts by the Reserve Bank of India, says Jahangir Aziz, Head Emerging Market Economics at JP Morgan in an interview with The Economic Times. He also talks about how debt flows from the index inclusion could help in easing the balance of payments along with softer bond yields. Even as geopolitics is crucial, it is the outcomes of the US elections which will have a bigger influence on the markets. Below are edited excerpts from the conversation: What is your assessment of the 50 bps rate cut by the Fed last week and its impact on the Indian market ? We had expected 50 basis points of rate cut after the July non-farm payroll came in.

Vedanta Limited will hold its board meeting on October 8, 2024, to consider and approve the fourth interim dividend on equity shares for the financial year 2024-25. The company has set as October 16 as the record date.

Sensex and Nifty closed at fresh record highs on Wednesday, driven by gains in banking and energy stocks. The 30-share BSE Sensex rose 256 points, or 0.30%, to settle at 85,169, while the broader NSE Nifty added 64 points, or 0.25%, to end at 26,004.

Wayanad (Kerala): The Congress in Kerala on Wednesday exuded confidence that party leader Priyanka Gandhi Vadra would win the Wayanad Lok Sabha seat, vacated by Rahul Gandhi, with a record margin. Addressing reporters here, AICC general secretary K C Venugopal said his party was confident of victory in the high range constituency. He said the party leadership and the workers had commenced preparations for the election, but devastating landslides struck Wayanad district. The Lok Sabha MP said the party usually does not conduct any programmes in such areas. There is no doubt that the workers of the Congress party and the United Democratic Front (UDF) would actively take part in various programmes when the election was announced.

defence production hit a record high of Rs 1.27 lakh crore in 2023-24, with the country exporting military hardware to over 90 nations, Defence Minister Rajnath Singh announced on Wednesday. The milestone aligns with the 10th anniversary of the 'Make in India' programme under the NDA government. Started under Prime Minister Narendra Modi, this initiative aimed to achieve self-reliance across various sectors, including defence. Singh noted, «Ten years since then, many reforms have been made in every sector including the defence sector. India is rising on the defence industrial landscape of the world.» In recent years, several measures were taken to promote domestic defence manufacturing, focusing on enhancing military preparedness, particularly along the China border. Defence exports surpassed Rs 21,000 crore for the first time in 2023-24. The ministry targets increasing this to Rs 50,000 crore within five years.

Shares in Asia pushed higher on Wednesday, again led by gains in China, after U.S. stocks climbed to more records in a quiet day of trading

Subscribe to enjoy similar stories. The war in West Asia has intensified. With its Gaza operations against Hamas not yet over, Israel has aimed its firepower at Hezbollah, an Iran-backed militia based in Lebanon to its north.

Gold prices were steady near record highs on Wednesday, as a weaker dollar and an escalated conflict in the Middle East lifted bullion's safe-haven appeal, while investors braced themselves for new signals on the U.S. interest rate trajectory. FUNDAMENTALS

Asian shares gained for a fifth day as a rally sparked by support measures from Beijing continued, while US stocks set fresh highs, with investors preparing for further rate cuts. Equity benchmarks rose in South Korea and Australia, while those for Japan were mixed after the yen strengthened against the dollar in the prior two sessions. The Golden Dragon index of US-listed Chinese companies rallied 9.1% in New York trading on Tuesday. The moves follow the best day since 2020 for a gauge of mainland equities after China unveiled a sweeping stimulus package to support the economy and financial markets.

stock indices hit all-time intraday highs on Tuesday, with the Nifty briefly crossing 26,000 and the Sensex breaching the 85,000 mark for the first time in a choppy trading session. The bullish momentum in the market may resume if the Nifty closes above 26,000 though there are concerns that equities may be overbought after the recent surge. The NSE Nifty ended flat at 25,940.4, after touching 26,011.55. The BSE Sensex went to 85,163.23, before closing at 84,914, almost unchanged.

Subscribe to enjoy similar stories. “Sapne dekhna achhi baat hai", a short video of Benjamin Joby reciting an inspirational quote starting with this phrase--Hindi for ‘it’s good to dream’--has gone viral. The clip, posted from his handle @benjamin_p_joby with 185,000 followers on Instagram, has been shared by twice the number of users.

U.S. stocks edged further into record heights on Wall Street after shaking off a bumpy start to the day

U.S. stocks drifted to more records in a quiet day of trading

Sardar Sarovar Dam in Gujarat rose to 138.31 metres on Tuesday, only a few centimetres from its overflow mark due to increased inflow amid rains in neighbouring Madhya Pradesh, officials said. With around 74,000 cusecs of water discharged downstream, the dam recorded a water level of 138.31 metres at 6 pm, just a few centimetres short of the full reservoir level of 138.68 metres, an official from the Sardar Sarovar Narmada Nigam Limited (SSNNL) said. Authorities opened five radial gates and supplied water to run the riverbed powerhouse to release water downstream. As per official data, the dam is receiving around 1.15 lakh cusec water.

Cineplex Inc. says it will appeal a record $38.9 million fine for deceptive marketing practices imposed by the Competition Tribunal.

Subscribe to enjoy similar stories. TikTok is closing its music service, just two years after parent company ByteDance set its sights on taking on streaming giants Spotify and Apple Music. TikTok Music will close Nov.

Subscribe to enjoy similar stories. Mark Zuckerberg has touted virtual-reality headsets as the next big thing. It turns out people may want something simpler: sunglasses with a camera.

capital on Tuesday amid a firm trend in the overseas markets. On Monday, the precious metal had revisited the all-time high level of Rs 76,950 after a gap of six months, according to market sources. The metal previously hit the record level of Rs 76,950 on March 22 this year, they said.

Subscribe to enjoy similar stories. Workers are getting too comfortable venting on their employers’ chat apps. We tend to forget that nothing we say there is private.

The SSE Composite index — which represents the overall performance of companies listed on the Shanghai Stock Exchange – was up almost 4% at the time of publication, recording a significant jump in the minutes following the People's Bank of China's (PBOC) press conference, according to MarketWatch. FundCalibre's Juliet Schooling Latter: The question of emerging markets' revival The PBOC said it will cut the amount of cash that banks must hold as reserves – known as reserve requirement ratios (RRR) – by 50 basis points. It will also cut a key policy rate by 0.2 percentage points to 1...

Workers are set to begin the reconstruction of the 400-year-old Old Stock Exchange in Copenhagen five months after a devastating fire destroyed more than half of the building