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Gérard Mestrallet, French President Macron’s Special Envoy for the India-Middle East-Europe Economic Corridor (IMEEC), who was in India this week told ET’s Dipanjan Roy Chaudhury that President Emmanuel Macron has made this project a priority. Macron sees IMEEC as a way to enhance connectivity and foster integration between India, the Arabian Gulf and the European Union. Q: Can you share French perspective on IMEEC? A: France has been a staunch supporter of the IMEEC project from the outset.

bullish trend in the international markets ahead of the US Federal Reserve interest rate decision. In the futures trade on the Multi Commodity Exchange (MCX), gold contracts for October delivery was trading higher by Rs 170, or 0.23 per cent, at Rs 73,264 per 10 grams. It had closed at Rs 73,094 per 10 grams on the exchange in the previous close on Tuesday.

US Federal Reserve's rate outcome due for announcement later on Wednesday night, a look into the history of the last three decades reveals Nifty's median returns of +1.6% following a 50 bps rate cut by the Fed. Meanwhile, a 25 bps cut has resulted in a median loss of 0.5%. The above findings were from a Capitalmind Financial Services study, which showed that the Fed announced a 50 bps rate cut 10 times in the last 34 years while the most frequent action by the Central Bank has been an increase of 25 bps, which has been done 39 times.

minimum import price condition from Bhutan through land customs stations (LCS) of Hatisar (Odisha) and Darranga (Assam) also, the directorate general of foreign trade (DGFT) said in a notification. In September 2022, the government allowed the import of 17,000 tonnes of green areca nut without minimum import price (MIP) condition from Bhutan every year. In 2017, the government imposed MIP at Rs 251 per kg to safeguard domestic farmers. In 2018, imports of areca nut in any form were allowed if the price was over Rs 251 per kg.

Subscribe to enjoy similar stories. Lithium may be called “white gold," but investing in the metal has hardly been a golden ticket lately. Lithium, which is used to make batteries for both gadgets and electric vehicles, has been on a roller-coaster ride in recent years.

Shares of Granules India Ltd.(up 0.6 per cent) and Divi's Laboratories Ltd.(up 0.32 per cent) ended the day as top gainers in the pack.

Infosys and Tata Consultancy Services (TCS). They also broke their two-session gaining streak after hitting fresh record highs. Nifty scaled an all-time high of 25,482.20 before finishing the session at 25,377.55, down by 41 points or 0.16% while S&P BSE Sensex conquered a peak of 83,326.38 before settling at 82,948.23, lower by 131.43 points or 0.16%. Nifty traded in a range of 200 points amid volatility. The fear gauge India VIX rose 6.2% to 13.37.

Domestic benchmark index NSE Nifty ended 41.0 points down at 25377.55, while the BSE Sensex closed 131.43 points down at 82948.23.

Euro India Fresh Foods Ltd.(up 20.00%), Bikaji Foods International Ltd.(up 6.11%), JHS Svendgaard Laboratories Ltd.(up 3.61%), Nestle India Ltd.(up 1.98%), Gillette India Ltd.(up 1.23%), Mrs. Bectors Food Specialities Ltd.(up 0.96%), Vadilal Industries Ltd.(up 0.82%), Prataap Snacks Ltd.(up 0.61%), Marico Ltd.(up 0.48%) and Hindustan Foods Ltd.(up 0.33%) stood among the top gainers.

Deepak Fertilisers & Petrochemicals Corporation Ltd.(up 6.33%), National Fertilizers Ltd.(up 5.31%), The Fertilisers and Chemicals Travancore Ltd.(up 3.65%), Madras Fertilizers Ltd.(up 3.04%), Krishana Phoschem Ltd.(up 2.83%), Rashtriya Chemicals & Fertilizers Ltd.(up 2.77%), Nagarjuna Fertilizers and Chemicals Ltd.(up 1.87%), Khaitan Chemicals & Fertilizers Ltd.(up 1.77%), Madhya Bharat Agro Products Ltd.(up 1.39%) and Aries Agro Ltd.(up 1.37%) stood among the top gainers.

State Bank of India (SBI) on Wednesday said it has raised Rs 7,500 crore through issuance of Basel III-compliant Tier 2 bonds to qualified institutional bidders. In a regulatory filing, SBI said the issue attracted overwhelming response from investors with bids in excess of 3 times against the base issue size of Rs 4,000 crore. «The investors were across provident funds, pension funds, mutual funds, banks etc,» SBI said.

Bitcoin (BTC) shot back to levels above the $60,000 mark gaining over 3% on Wednesday ahead of the Federal Reserve’s FOMC meeting outcome later in the night, where the Central Bank could slash rates by 25-50 bps according to estimates. BTC has recovered from its Tuesday losses and extended its 7-day lead to nearly 7%.

ICICI Bank on Wednesday surpassed the Rs 9 lakh crore market capitalization mark for the first time after the stock rose 2% to reach a new all-time high of Rs 1,295 on the BSE. Currently, ICICI Bank is the fifth-largest company by market capitalization, following Reliance Industries, Tata Consultancy Services, HDFC Bank, and Bharti Airtel. Around 3 PM, the company’s market cap was nearly Rs 9.11 lakh crore.

Manish Singh, Market Expert, says the reason the Fed is going to cut by 50 bps and why it should cut 50 bps is that if the inflation is on track to be at 2%, (it is at 2.5% now), what justifies the rates being this restrictive, as we have seen the most rapid increase in rates in the last 40 years. The rates have been at 5.25% for 14 months. What justifies it being at this high restrictive level? There is no point. So, for that reason you are going to get 50 basis point cut. While most analysts were holding the view that the American economy is fine, there is no recession right now or even on the horizon, a soft landing with a 25 basis point cut was turning up to be the consensus view. But now things have slightly changed in the run-up to the FOMC meet. Have not they? A 50 basis point rate cut does not seem completely unlikely. Manish Singh: No, it is not unlikely and we are going to get that and it is justified. Because if you look at where the two-year rate is, the two-year treasury yield is at 3.57% and the upper bound of the Fed fund rate is 5.5%, so we are talking about 190 basis point spread. You have to go back to 2008 to see the spread this wide.

The anchor book will open for one day on September 20.

The baobab tree is known as the “tree of life,” and its fruit is feeding a growing global market for natural food and beauty products

Japan has posted a trade deficit for a second straight month, as both exports and imports were lower than expected

Ruholamin Haqshanas is a contributing crypto writer for CryptoNews. He is a crypto and finance journalist with over four years of experience. Ruholamin has been featured in several high-profile crypto...

Subscribe to enjoy similar stories. Tracking the portfolios of India’s Warren Buffetts over a period, it’s evident that no super investor is similar to another when it comes to picking stocks. Their strategies are known only to them.

Listed on the London Stock Exchange on Tuesday (17 September), the ETC seeks to track the performance, before fees and expenses, of the BNP Paribas Rolling Futures W0 TZ index.  The index is designed to provide investors with exposure to gas traded on the Dutch Title Transfer Facility (TTF). It measures total return performance based on the underlying ICE Dutch TTF Gas Futures contracts. Nitesh Shah, WisdomTree Europe's head of commodities and macroeconomic research, the Dutch TTF facility is the most representative and liquid natural gas benchmark in Europe, therefore the «best tool»...

Subscribe to enjoy similar stories. The Biden administration hasn’t been good for the trans-Atlantic alliance. This might seem a surprising claim, given that Joe Biden’s team and Kamala Harris’s campaign have touted improved U.S.-European ties as their greatest foreign-policy achievement.