Business
In its biggest intra-day crash this year, stock market benchmark Sensex plunged by 1,006 points while Nifty fell below 8,000 level in early trade on Monday due to heavy selling by funds amid global sell-off as worries about China’s economy deepen. Asian markets were also in deep red with Shanghai shares crashing 8 per cent […]
The Reserve Bank is likely to go for a 25 basis points rate cut in September as price pressures have fallen “notably and far more than expected”, says an HSBC report. According to the global financial services firm, food prices have been falling across all major sub-groups, across the CPI and WPI measures, both on […]
Riding firmly on renewed hopes of a policy rate cut, the BSE Sensex vaulted nearly 518 points — its biggest single-day rise in nearly seven months — to reclaim the 28,000-mark after WPI inflation for July cooled. Rate-sensitive realty, banking and auto stocks drove the rally as rupee’s slide saw a pause. Investors cheered changes […]
The benchmark BSE Sensex lost ground by over 120 points in early trade today as investors started scaling down their bets ahead of IIP and inflation data to be released later in the day amid weak global cues. Moreover, the rupee sliding to nearly a two-year low of 64.67 against the American currency weighed. Sliding […]
Staying on a downward trajectory for the fifth straight session, the rupee lost another 48 paise against the US dollar to 64.67, its weakest level since September 2013, due to appreciation of the dollar overseas after China devalued the yuan for the second straight day. Forex dealers said increased demand for the greenback from importers […]
Joining the debate over the powers of RBI Governor in setting policy rate, bank’s former head C Rangarajan today said the government can do away with the veto power of Governor but the majority of members in the Monetary Policy Committee should be from the apex bank. Rangarajan’s comments come at a time when the […]
Maldivian President Abdulla Yameen has assured Prime Minister Narendra Modi that his country will not allow any foreign power to set up a military base under the new law allowing foreign ownership of land, allaying India’s concerns over possible expansion of Chinese strategic assets in the archipelago. Yameen, in a letter to Modi, also assured […]
Market ended the session on a weaker note today as the benchmark BSE Sensex dropped by 62 points to 28,236.39 — its first fall in two days — on disappointing earnings number of state-run BHEL and profit-booking in select banking and pharma stocks. The index, which opened in the positive zone gave up all of […]
The benchmark BSE Sensex recovered sharply over 213 points in early trade on Wednesday powered by capital inflows by foreign funds and buying by retail investors amid a strong Asian trend. Besides, better-than-expected Q1 earnings by Bharti Airtel buoyed sentiment. The 30-share index, which had lost 115.13 points in the previous volatile session, gained back […]
Rebuffing pressure from the government to reduce cost of borrowing, RBI Governor Raghuram Rajan today kept interest rates unchanged, citing a spike in food prices and banks passing on to consumers only less than half of its previous rate cuts. Rajan, in his third bi-monthly policy of the fiscal, left benchmark lending (repo) rate unchanged […]
