Mint in the week gone by. In a historic milestone, the Indian stock market’s valuation crossed ₹400 trillion, with the last ₹100 trillion coming in a mere nine months. The policy decision made by the oil cartel Opec+ earlier this month has resulted in a surge in international crude prices to their highest level in five months.
Indian equities scaled fresh all-time highs earlier this week with the combined market capitalization of all BSE-listed stocks exceeding ₹400 trillion for the first time on 8 April, riding on favourable global cues and easing crude oil prices. The country’s bright macroeconomic fundamentals have encouraged local and foreign investors to plough more money into equities. The last ₹100 trillion came in just nine months, setting a remarkable record.
Meanwhile, foreign portfolio investors (FPIs) maintained a bullish stance on Indian equities for the past three months, with a combined inflow of ₹38,227 crore. India's retail inflation for March may have eased marginally to 4.9% from 5.1% in February, the median estimate of 14 economists polled by Mintshowed. That suggests an average of 5% for the March quarter, and an average of 5.4% for the fiscal year 2023-24, in line with the Reserve Bank of India’s (RBI) latest projection.
If it holds true, it would mark the lowest inflation rate in five months, primarily driven by a decrease in food and fuel prices, along with a sustained decline in core inflation. The data is due on Friday. 300,000: That's the number of cars Maruti Suzuki expects to export in FY25, a Mint report said.
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