The Sensex and Nifty saw gains today due to broad-based buying, with both indices continuing their winning streak for the second day. The positive momentum was driven by a cooling off in oil prices, indicating a potential easing of tensions in the Iran-Israel conflict. However, analysts are cautious about the near-term outlook, citing concerns over … Read more
The Economic Affairs Secretary of India, Ajay Seth, emphasized the resilience of the Indian economy, noting that despite global challenges, India’s GDP growth estimate for the fiscal year has been revised upwards from 7.3% to 7.6% in the second advance estimates. Speaking at the Development Committee meeting, Seth highlighted India’s exceptional performance amidst sluggish global … Read more
India’s economy is set to expand by 6.5% in 2024, maintaining its position as the world’s fastest-growing major economy. The UNCTAD report released on Tuesday highlights India’s growth trajectory, noting that the country’s GDP grew by 6.7% in 2023. The report underscores the positive impact of multinationals expanding their manufacturing operations in India to diversify … Read more
The Sensex and Nifty indices in India continued their downward trend for the third consecutive session on April 16, 2024. The ongoing Israel-Iran crisis and escalating tensions in West Asia have contributed to a cautious market sentiment globally, impacting equities. Additionally, the surge in US treasury bond yields, reaching a five-month high, has further dampened … Read more
Indian indices, the Sensex and Nifty, dipped around 1% on April 15 as tensions in West Asia led to a cautious market sentiment. Analysts anticipate a period of consolidation in the coming days, considering the recent upward trend and the onset of the earnings season. The Sensex dropped by 731 points to 73,502, while the … Read more
Oil prices are anticipated to climb following Iran’s assault on Israel, with analysts suggesting that the extent of the increase will hinge on the reaction from Israel and the West. Iran’s launch of explosive drones and missiles at Israel, in retaliation for a suspected Israeli attack on its consulate in Syria, has heightened concerns of … Read more
GQG and SBI Mutual Fund are eyeing investments of up to Rs 6,500 crore in Vodafone Idea’s forthcoming Rs 18,000 crore Follow-on Public Offering (FPO), which is set to become India’s largest secondary offering. According to sources familiar with the matter, investment firm GQG Partners, led by India-born executive Rajiv Jain, intends to invest approximately … Read more
As India Inc begins to unveil its performance for Q4 and FY 24, anticipation mounts for stock-specific movements. TCS leads the pack, set to release its numbers post-market today. A widespread sell-off drove the Sensex and Nifty down by 1% on April 12. Investor sentiment waned following higher-than-anticipated US inflation figures, dimming hopes for a … Read more
The US markets experienced a decline as expectations for Federal Reserve rate cuts were postponed, primarily due to higher-than-expected Consumer Price Index (CPI) data for March. This unexpected rise in CPI, with a 0.4 percent month-over-month increase and a year-over-year figure of 3.5 percent compared to February’s 3.2 percent, dashed hopes for rate cuts in … Read more
The Asian Development Bank (ADB) has revised India’s GDP growth forecast for the current fiscal year to 7% from the previous estimate of 6.7%. This upward revision is attributed to the robust growth expected to be driven by both public and private sector investment demand, along with a gradual improvement in consumer demand. The forecast … Read more
