Indian equity markets began the week on a strong note, with key indices closing in the green on Monday, driven by robust buying in realty, banking, and IT stocks. The BSE Sensex surged 591.69 points, or 0.73%, to close at 81,973.05, while the NSE Nifty rose by 163.70 points, or 0.66%, ending at 25,127.95. Midcap and smallcap indices also gained, ...
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Indian Rupee Plunges to Record Low Against U.S. Dollar Amid Global Pressures
The Indian rupee hit a record low against the U.S. dollar on Monday, driven by persistent demand for the dollar and continued outflows from Indian equities. The rupee dropped to an all-time low of 84.0725 against the U.S. dollar, surpassing the previous low of 84.07 recorded last Friday. This downward trend is attributed to foreign banks’ dollar bids and sustained ...
Read More »After Rs. 1 Lakh Loss Last Week, Indian Markets Brace for Key Inflation Data, Q2 Reports This Week
Notwithstanding last week’s erosion of Rs.1 lakh in market value, Indian stock markets are expected to navigate a crucial week ahead, with domestic and global economic indicators, especially Israeli-centric moves, taking center stage. Key drivers for market movements include India’s Wholesale Price Index (WPI) inflation and Consumer Price Index (CPI) inflation data for September, as well as updates on bank loan ...
Read More »Seven Companies Lose Over Rs 1 Lakh Crore in Market Cap Last Week
The combined market capitalisation of seven out of the top 10 companies declined by Rs 1,22,107 crore over the past week, with Tata Consultancy Services (TCS) and Reliance Industries Ltd (RIL) leading the losses. Between October 7 and 11, Tata Group’s TCS saw its market cap drop by Rs 35,638 crore, settling at Rs 15,01,723 crore. RIL’s market cap fell ...
Read More »Indian Rupee Hits Historic Low of Rs.84 Per Dollar Amid Crude Oil Surge and Geopolitical Tensions
The Indian rupee recently reached a historic low, falling by 0.12 to trade at 84.09 against the US dollar. This decline is largely attributed to surging crude oil prices and escalating geopolitical tensions in the Middle East. The US dollar’s strength, with the dollar index rising from $100.50 to $102.40, has also added pressure on the rupee. Experts predict that ...
Read More »India’s Forex Reserves Decline Slightly But Stay Above $700 Billion
India’s foreign exchange reserves remained above $700 billion for the second straight week, according to data from the Reserve Bank of India (RBI) released on Friday. As of October 4, the reserves stood at $701.18 billion, marking a decline of $3.71 billion from the previous week. India’s forex reserves, which are at an all-time high, rank as the fourth-largest globally, ...
Read More »Sensex Drops 230 Points as Auto and Finance Stocks Weigh on Markets
Indian equity markets closed lower on Friday, with the Sensex falling by 230 points, or 0.28%, to 81,381, and the Nifty slipping by 34 points, or 0.14%, to 24,964. The decline was primarily driven by a sell-off in financial and auto stocks, alongside weakness in shares of Tata Consultancy Services (TCS). The banking sector bore the brunt of the downturn, ...
Read More »Festive Boom in E-commerce Sales Cross Rs 54,500 Crore in One Week
Indian e-commerce platforms recorded sales exceeding Rs 54,500 crore in the first week of the festive season, making up approximately 55% of the total sales projected for the upcoming month. According to data from Datum Intelligence, a consumer technology market research firm, this marks a 26% increase in sales compared to the same period in 2023. The primary drivers of ...
Read More »Indian Stock Market Boom Fuels Demat Account Surge to Reach 175 Million in September
The Indian financial market has been witnessing a significant surge in the number of demat accounts, according to a recent report by Motilal Oswal Financial Services. The total number of these accounts reached 175 million in September, up from 171 million in August. This increase is a testament to the robust performance of the Indian stock market, which continues to ...
Read More »Indian stocks open lower today following weak signals from US markets
The Indian stock market started the day on a subdued note, reacting to weak signals from the U.S. markets. Major banking stocks were hit hard, pulling down indices, though select sectors like technology showed resilience and gained traction in the face of a broader decline. By mid-morning, the Sensex was down 142 points, or 0.17%, at 81,469, while the Nifty ...
Read More »Over-Confidence Runs Ola Electric Dreams Down to Gutter, Stock Prices Plummet Further
Ola Electric, once hailed as a trailblazer in India’s electric vehicle (EV) market, is now grappling with a host of challenges that threaten to derail its success. From a show-cause notice issued by the Central Consumer Protection Authority (CCPA) to a flurry of customer complaints and a sharp decline in stock prices, the company is under intense scrutiny. On Tuesday, ...
Read More »Sensex Opens Positive, Gains 256 Points; Experts Cite Middle-East Tensions
India’s equity markets opened higher on Tuesday, buoyed by strong performances in banking stocks and gains in UltraTech Cement, NTPC, and L&T among others on the BSE benchmark index. By 9:59 a.m., the Sensex had risen by 258 points or 0.32% to 81,308, while the Nifty climbed 58.20 points or 0.23% to 24,853. Leading the charge in the Sensex were ...
Read More »Hero Motors Withdraws IPO Amid Market Uncertainties Over Middle East Conflict
Hero Motors Ltd, a subsidiary of two-wheeler giant Hero Motors Company (HMC) Group, has unexpectedly withdrawn its Rs 900 crore initial public offering (IPO), according to a regulatory update from the Securities and Exchange Board of India (SEBI) on Monday. The sudden move is sending ripples through the automotive and financial sectors. Hero Motors had filed a draft red herring ...
Read More »Indian Stock Market Next Week: RBI MPC Decision, Q2 Earnings, and Mid-East Crisis in Focus
The Indian stock market is on the cusp of a critical week, with the upcoming RBI Monetary Policy Committee (MPC) meeting, second-quarter (Q2) corporate earnings, and industrial production (IIP) data expected to shape market trends. Investors are bracing for potential volatility as these key indicators, combined with global market dynamics and geopolitical tensions, will provide insights into the health of ...
Read More »India’s Real Estate Sector Poised to Become Major Employment Hub: Industry Experts
India’s real estate sector, already the second-largest employer after agriculture, is on track to become the country’s leading job creator, according to industry leaders. With a compound annual growth rate (CAGR) of 18.7 percent, the sector is seeing unprecedented expansion, making it a key hub for young talent. The real estate industry is booming in both value and volume, supported ...
Read More »Swiggy Increases IPO Size to $1.4 Billion, Plans to Expand ‘Instamart’
In a significant development in India’s burgeoning IPO market, SoftBank-backed food delivery giant, Swiggy, has received approval from its shareholders to increase the size of its fresh issue in its upcoming IPO. The approval will allow the company to raise the fresh issue size to 50 billion rupees ($595 million), a substantial increase from the previously planned 37.5 billion rupees. This ...
Read More »Hyundai India Gears Up to Launch Megasize $3 billion IPO, Largest After LIC’s 2 Years Ago
Hyundai Motor India, the country’s second-largest car manufacturer, is reportedly planning to launch a $3 billion Initial Public Offering (IPO) on October 14, 2024. This IPO, if it goes ahead, would be the largest in India after the Life Insurance Corporation’s (LIC) IPO, which was around Rs 21,000 crore. The IPO of Hyundai Motor India Limited will be an offer for ...
Read More »Regulatory Warning Sends Jitters Among Suzlon Investors, Share Price Down 5%
Suzlon Energy, a prominent renewable energy solution provider, has recently been under the market’s microscope due to a significant drop in its share price. The company’s shares took a 5% hit after receiving an ‘advisory cum warning’ letter from the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). This development has sparked concerns among investors and market observers, ...
Read More »Market Plunges as Middle East War Looms, Rs 10 Lakh Crore Wiped Out from Investors
Indian markets were hit hard on Thursday as escalating geopolitical tensions in the Middle East led to a sharp decline in equity indices, wiping out Rs 10 lakh crore in market capitalization. The benchmark BSE Sensex nosedived 1,769 points (2.10%), closing at 82,497, while the Nifty 50 plunged 546 points (2.12%) to 25,250. This broad sell-off led to significant losses ...
Read More »Gloom All Over Markets, Sensex Down 589 Points; Middle East Conflict Rattles Globe
The escalating conflict in the Middle East, particularly between Iran and Israel, has sent shockwaves through global markets, with India feeling the tremors. The Nifty 50 index and the S&P BSE Sensex, key indicators of the Indian stock market, have both seen a decline of over 1%. At 9.38 a.m., Sensex was down 589 points or 0.69 per cent at ...
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