Domestic benchmark indices climbed in early trade today, with the Sensex at the Bombay Stock Exchange hitting a fresh all-time high. The 30-share index rose by 135 points to reach a new high of 78,188. The Nifty also increased by 28 points to 23,749. However, both benchmark indices later encountered volatile trends, fluctuating between highs…
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RBI Governor Shaktikanta Das has announced that India is on the verge of a significant structural shift in its growth trajectory, aiming for a sustained 8% GDP growth rate. Speaking at the 188th Annual General Meeting of the Bombay Chamber of Commerce and Industry in Mumbai, Mr. Das highlighted India’s multi-sectoral growth driven by various…
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Mumbai, June 24,2024:The Rupee gained three paise to reach 83.52 against the USD in Monday’s opening trade. This increase was driven by selling of USD by bankers and importers, according to dealers at the Foreign Exchange. The local currency strengthened due to a weak Dollar against other world currencies, coupled with a weak opening in…
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Foreign investors have made a stellar comeback to Indian equity markets with an 11,730 crore rupee inflow. After several months of selling, the trend reversed last week when Foreign Institutional Investors (FIIs) began investing in Indian equities. In May, FIIs had sold more than 40,000 crore rupees worth of equity, marking the highest figure for…
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India’s benchmark equity indexes posted gains on Friday amid mixed global signals, while in the broader market on the BSE, midcap and smallcap stocks rose over 1% each. The Sensex rose 182 points or 0.24% to close at 76,992. The Nifty rose 67 points or 0.29% to close at 23,465. In the forex market, the…
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Wholesale Price Index (WPI) of India rose to 2.61% in May 2024. This is the highest in 15 months since 3.85% in February 2023, after declining to 1.41% in March 2023. According to data released today by the Ministry of Commerce and Industry, the recent rise in WPI-based inflation is due to price increase in…
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India’s foreign exchange reserves rose by $4.37 billion to $655.817 billion in the week ended June 7, a record high. Stocks rose by $4.837 billion in the previous week to $651.51 billion. The previous high was $648.87 billion on May 10. Reserves have grown significantly in recent weeks. Foreign exchange holdings, a major component of…
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Indian stock price indexes opened higher today. In intraday trade, the BSE Sensex 30 rose 539 points to a record high of 77,145. The NSE Nifty rose 158 points to a record high of 23,481. The gains were driven by positive market sentiment, supported by strong gains in financial and IT stocks.
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India’s benchmark indices hit fresh highs shortly after opening today (June 10), driven by gains in Reliance Industries Ltd and Axis Bank Ltd. This surge came after Narendra Modi took oath as India’s prime minister for a third term on Sunday. The NSE Nifty 50 was up by 91.90 points or 0.39% at 23,382.05, and…
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The Reserve Bank of India has announced that the total value of ₹2000 banknotes in circulation has declined significantly to ₹7,961 crore as of April 30, 2024. This is a drastic reduction from ₹3.56 lakh crore on May 19, 2023, when the withdrawal of these high-denomination notes was first announced. The RBI reports that 97.76%…
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