Economy Financial News

ICICI Bank, Kotak Bank and IT stocks. The BSE benchmark Sensex broke a 3-day winning run and fell 111 points or 0.15% to settle at 73,904. The broader NSE Nifty dropped 9 points or 0.04% to end at 22,453.

Shop price annual inflation eased to 1.3% in March, down from 2.5% in February, making it the first figure below 2% in over two years and below the three-month average of 2.2%. Revised GDP figures confirm UK economy fell into a recession last year On a monthly basis, food prices fell by 0.3%, while non-food prices declined 0.4%. Mike Watkins, head of retailer and business insight at NielsenIQ, said a «key driver» of the slowdown was a fall in food prices, but «intense competition» among retailers also contributed. UK consumer confidence stalls in March Helen Dickinson, CEO of...

A World Bank report says Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5% this year from 5.1% in 2023

Hong Kong stocks are leading gains in Asian markets while investors evaluate economic data from South Korea and Australia

Most U.S. stocks slipped after a surprisingly strong report on U.S. manufacturing raised worries about how much interest rates could ease this year

A key Japanese central bank report says that sentiment among big manufacturers has sagged but optimism hit a three-decade high among large business outside the manufacturing sector

Asian shares are mixed after Wall Street retreated as surprisingly strong U.S. manufacturing data cast doubts over how soon the Federal Reserve might cut interest rates

Manufacturing in China expanded in March after contracting for five consecutive months

After a blistering run to record highs, Japanese stocks may be running out of catalysts in the near term. The benchmark Nikkei Stock Average last month climbed above 40000 for the first time ever, driven by earnings growth, a weaker yen and improvements in corporate governance, including more share buybacks. With a 21% gain in the first quarter, the index was the best-performing major market globally.

Also Read: ADIA, Kotak to invest ₹2,001 crore in Prestige Group’s four housing projects In FY24, the Nifty Realty index emerged as the top-performing sectoral index, recording a fabulous return of 132%. The majority of stocks within the index experienced significant growth over the last financial year. Among the 10 constituents of the index, six saw multibagger returns, with Sobha leading the pack with a remarkable rally of 235%.

₹522.30 crore, while domestic institutional investors (DIIs) purchased ₹1,208.42 crore worth of stocks on April 1, provisional data from the NSE showed. The Indian rupee is likely to track moves in major Asian currencies this week, while bond and currency traders will keep an eye on the Reserve Bank of India’s (RBI) monetary policy decision due on Friday.

Purple Cap IPL 2024: The match between Mumbai Indians (MI) and Rajasthan Royals (RR) on April 1 influenced the list of Top 10 wicket-takers in the tournament so far. While the Orange Cap (currently claimed by RR’s Riyan Parag) goes to the highest run-getter in the tournament, the highest wicket-taker gets the Purple Cap. Let’s take a look at which bowlers are in the Top 10 after the MI vs RR IPL match.

₹1.78 trillion. This is the second-highest monthly mop-up since the tax regime was implemented in mid-2017, topped only by April 2023’s intake of ₹1.87 trillion. For the latest fiscal year ended 31 March, GST revenue stood at ₹20.1 trillion, a 12% increase.

For all the policy promotion of electric vehicles (EVs), their sales figures in India have been a disappointment as far as four-wheelers go. Even hybrid cars, which get no policy push, have lately been selling more. Consider the automobile sales numbers for 2023-24.

Dow and S&P 500 edged lower on Monday, dragged down by investor worries over the timing of interest rate cuts by the Federal Reserve after stronger-than-expected manufacturing data pushed Treasury yields higher. The Institute for Supply Management (ISM) said its manufacturing PMI increased to 50.3 last month, the highest and first reading above 50 since September 2022, from 47.8 in February. It suggested the manufacturing sector, which has been battered by higher interest rates, was recovering.

buy India, sell China" has reached an inflection point for some investors. Lazard Asset Management, Manulife Investment Management and Candriam Belgium NV are paring exposure to India after a record-breaking rally. They’re pivoting to former favourite China, as Beijing’s support for its economy spurs a recovery in industrial profit and manufacturing.

India is drawing up near, medium and longterm goals in line with its target to become a developed economy by 2047, with a focus on electric mobility, digitisation of payments infrastructure and high-speed expressways, officials said. All central ministries will soon firm up plans indicating five-year budgetary requirements for better financial management, they said. Extended producer responsibilities for goods such as cars, recycling centres for electronic waste like cell phones, comprehensive soil surveys, measures to raise farm output, holistic skilling of the country’s youth, speedier production from auctioned mines and extensive assessment of Indian geology, and increased manufacturing output with lower emission intensity are some of the other key areas in focus.

₹4.63 trillion. The latest step in this direction, taken in February 2024, has been an enhancement of the authorized working capital of FCI from ₹10,000 crore to ₹21,000 crore. Traditionally, these operations have been financed through food credit.

The general take on India’s rapid economic growth is that it’s powered by the government’s capex push. But a recent report questions this narrative, saying it underestimates the role of consumption. Mint unpacks the investment versus consumption debate.

Mumbai: Lauding the Reserve Bank of India (RBI) for its astute management of the country’s financial system at an event on Monday to mark the central bank’s 90th anniversary, Prime Minister Narendra Modi laid out a roadmap for the next 10 years, saying India would need to become economically self-reliant to shield itself from external shocks. Making the rupee more internationally accepted, increasing the reach of banking services and scaling up digital transactions would be key focus areas, Modi said.

Central bankers and economists have been talking about the elusive “soft landing” for some time, but a report out today suggests it might actually be achievable.