MUMBAI [Maha Media]: The rupee rose 2 paise to 84.40 against the US dollar in early trade on Tuesday amid a recovery in domestic equity markets and a weaker American currency against major Asian rivals.

Forex traders said, however, sustained outflow of foreign funds and an upward movement in crude oil prices put pressure on the local unit and capped its sharp gain.

At the interbank foreign exchange, the rupee opened at 84.39 and slipped further to 84.40 against the greenback, trading 2 paise higher from its previous close.
 

MUMBAI [Maha Media]: Snapping a losing streak of the last seven sessions, the BSE Sensex on Tuesday jumped 239.37 pts at 77,578.38 on the strength of Consumer Discretionary Goods and Services, Auto, BSE services and Realty stocks. 

The National Stock Exchange (NSE) rose 64.50 pts at 23,518.50. 

The Nifty registered days high and low at 23,780.65 and 23,464.80 pts respectively. After a seven-day break, the Sensex regained 209 pts to open at 77,548. During the day it was zoomed 1112 pts at 78,451.65, a day high. In late, trade, it erased earlier gains and settled positively at 77,578.38, but with the gain of 239.37 pts only from its previous close The stocks that lifted the market were Realty by 1.45 pc, Auto by 1.41 pc, Consumer Discretionary Goods and Services by 1.21 pc. The Mid-cap gained 0.94 pc and the Small-cap by 0.90 pc. In 30 scrips, 17 advanced, while 13 declined. The gainers were M& M by 3.07 pc to Rs 2934.45, Tech Mahindra by 1.90 pc to Rs 1692.90, HDFC Bank by 1.82 pc to Rs 1735.45, Titan by 1.58 pc to Rs 3222 and Sun Pharma by 1.46 pc to Rs 1772.65.

The losers were Reliance Industries by 1.83 pc to Rs 1237.55, SBI by 1.43 pc to Rs 802.05, Bajaj Finserv by 1.21 pc to Rs 1596.05 and Maruti Suzuki by 1.20 pc to Rs 10960. 

Asian Market was seen as positive as Strait Times was up 0.68 pc, Hang Seng by 0.44 pc, and Taiwan Weighted by 1.32 pc.
 

MUMBAI [Maha Media]: The rupee recovered from its lowest level and appreciated by 8 paise to 84.38 against the US dollar in early trade on Monday despite a stronger American currency and sustained outflow of foreign funds.

Lower level of crude oil prices in the international market supported the recovery of local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 84.42 and strengthened further to 84.38 against the greenback, trading 8 paise higher from its previous close.
 

MUMBAI [Maha Media]: Benchmark Sensex declined by 241 points while broader Nifty fell for the seventh session in a row on Monday following a sell-off in IT and oil shares amid unabated foreign fund outflows and weak leads from the US markets.

The 30-share BSE Sensex dropped by 241.30 points or 0.31 per cent to settle at 77,339.01, registering its fourth day of decline. During the day, it fell 615.25 points or 0.79 per cent to 76,965.06.

Falling for the seventh day in a row, the NSE Nifty dipped 78.90 points or 0.34 per cent to 23,453.80.

From the 30-share Sensex pack, Tata Consultancy Services, Infosys, NTPC, HCL Technologies, Axis Bank, Tech Mahindra, Bajaj Finserv, Sun Pharma, IndusInd Bank and Reliance Industries were the major laggards.
 

MUMBAI [Maha Media]: Reserve Bank Governor Shaktikanta Das on Thursday said the Indian economy has been sailing "smoothly" amid the global headwinds.

Speaking at an event organised by CNBC-TV18 here, Das declined to comment on a suggestion by Union Commerce Minister Piyush Goyal for a rate cut, maintaining that the rate-setting panel will take an appropriate call on it at its next meeting in December.

In comments made days after headline inflation shot up beyond the 6 per cent tolerance band of RBI for October, Das said inflation is "expected to moderate despite periodic humps".
 

NEW DELHI [Maha Media]: The Supreme Court on Thursday refused to entertain a PIL that sought urgent intervention against inflammatory speeches by public figures, alleging these statements endanger national unity, security and promote divisive ideologies.

Observing that there was a difference between hate speeches and wrong assertions, a bench comprising Chief Justice Sanjiv Khanna and Justice Sanjay Kumar told the counsel for PIL petitioner ‘Hindu Sena Samiti’ that it was not inclined to issue notice on the petition.

"We are not inclined to entertain the present writ petition under Article 32 of the Constitution of India, which in fact refers to alleged references. Further, there is a difference between hate speech and wrong assertions…In case the petitioner has any grievance, they may raise the same in accordance with law,” the bench said.
 

NEW DELHI [Maha Media]: Driven primarily by food prices, India's wholesale price index (WPI) based inflation surged to 2.36% yearon-year in October this year from 1.84% in the previous month. "Inflation in October, 2024 is primarily due to increase in prices of food articles, manufacture of food products, other manufacturing, manufacture of machinery & equipment, manufacture of motor vehicles, trailers & semi-trailers, etc," Ministry of Commerce and Industry said in a release. 

The month over month change in WPI for the month of October, 2024 stood at 0.97% as compared to September, 2024. The annual rate of inflation based on WPI Food Index increased to 11.59% in October this year from 9.47% in the previous month. The official data showed primary articles inflation increased to 8.09% in the month of October this year from 6.59% in the previous month. Fuel and power inflation dropped 5.79% in October this year. 

Earlier this week, the data released by Ministry of Statistics and Programme Implementation (MoSPI) showed India's retail inflation had jumped to a 14-month high of 6.21% in October.
 

MUMBAI [Maha Media]: Benchmark equity indices bounced back in early trade on Thursday after facing heavy correction in the last two trading days, amid massive buying by domestic institutional investors and a rally in frontline stocks HDFC Bank, Reliance Industries.

The BSE benchmark Sensex climbed 254.5 points to 77,945.45 in early trade. The NSE Nifty went up by 86.25 points to 23,645.30.

The BSE benchmark had tanked 1,805.2 points or 2.27 per cent in the past two days.
 

MUMBAI [Maha Media]: The rupee moved in a narrow range and appreciated 1 paisa to close at 84.38 (provisional) against the US dollar on Wednesday, as persistent foreign fund outflows and a muted trend in domestic equities weighed on the local unit.

The USD/INR pair is trading in a narrow range as strength of the American currency in the overseas market dented investor sentiments, while suspected intervention by the Reserve Bank of India (RBI) kept the rupee supported at lower levels, forex traders said.

At the interbank foreign exchange, the rupee opened at 84.40 against the US dollar. During the session, the local currency touched a high of 84.37. It finally settled at 84.38 (provisional), 1 paisa higher than its previous close.
 

NEW DELHI [Maha Media]:India's fossil fuel emissions are projected to rise by 4.6 per cent in 2024, while China could see a marginal rise of 0.2 per cent, according to new research by a group of international scientists.

As the UN climate conference in Baku, Azerbaijan, discussed raising trillions of dollars to tackle climate change, the group of scientists known as the "Global Carbon Project" warned that emissions from fossil fuels -- the main driver of warming -- could hit a record 37.4 billion tonnes in 2024, up 0.8 percent from 2023 levels.

This comes despite rapid growth in renewable energy and a landmark agreement at COP28 in Dubai last year to move away from fossil fuels.
 

MUMBAI [Maha Media]: Benchmark Sensex plunged 984 points to close at a more than four-month low on Wednesday following heavy selling in banking, auto and capital goods shares amid retail inflation soaring to a 14-month high in October and unabated foreign fund outflows.

The BSE Sensex slid to 77,690.95, down by 984.23 points or 1.25 per cent, marking its second straight day of losses. During the day, it slumped 1,141.88 points or 1.45 per cent to 77,533.30.

Registering its fifth day of decline, the NSE Nifty tumbled 324.40 points or 1.36 per cent to 23,559.05, a level not seen since June 24, 2024.
 

NEW DELHI [Maha Media]: Bitcoin continues its rally, hitting a new all-time high above $88,000, trading data shows. As of 21:36 GMT Monday, bitcoin was trading at $88,063 on the largest cryptocurrency trading volume Binance.

The rally is driven by the victory of Donald Trump in the US presidential election last week. During his campaign, Trump promised to create a national Bitcoin reserve and appointing regulators to support the industry. 

NEW DELHI [Maha Media]: Union Finance Minister Nirmala Sitharaman is likely to meet her state counterparts on December 21-22 for pre-budget consultations and meeting of the GST Council, an official said.

The meeting assumes significance as states finance ministers would present their recommendations for 2025-26 Budget to be unveiled on February 1, 2025.

The 55th GST Council meeting would be held during one of these two days in which the much awaited decision on exemption or lower GST rate on health and life insurance would be taken.

The Council may also take up some rationalisation exercise and reduce tax rates on a host of common items from 12 per cent to 5 per cent as per the recommendations of a panel of state ministers.

The two-day meeting is slated to take place in Rajasthan, either in Jaisalmer or Jodhpur, the official added.

Last month, the group of ministers (GoM) on health and life insurance GST broadly agreed on exempting insurance premiums paid for term life insurance policies, and senior citizens' health insurance from GST.

Also, GST on premiums paid by individuals, other than senior citizens, for health insurance with coverage of up to Rs 5 lakh is proposed to be exempted. However, 18 per cent GST will continue on premiums paid for policies with health insurance cover of over Rs 5 lakh.

The GST Council in its 54th meeting on September 9 had tasked the GoM to finalise the report on GST levy on insurance by October-end.

Separately, the GoM on GST rate rationalisation has also suggested that the GST Council rejig tax rates on a host of goods, including packaged drinking water, bicycles, exercise notebooks, luxury wrist watches, and shoes. This rate rejig is expect to result in revenue gain of about Rs 22,000 crore.

The GoM on rate rationalisation proposed reducing GST on packaged drinking water of 20 litre and above to 5 per cent from 18 per cent. If the GoM's recommendation is accepted by the GST Council, GST on bicycles costing less than Rs 10,000 will be reduced to 5 per cent from 12 per cent.

Also, GST on exercise notebooks will be reduced to 5 per cent from 12 per cent. The GoM also proposed hiking GST on shoes above Rs 15,000/pair from 18 per cent to 28 per cent. It also proposed hiking GST on wrist watches costing above Rs 25,000 from 18 per cent to 28 per cent.

Bihar Deputy Chief Minister Samrat Chaudhary is the convenor of the 13- member GoM on health and life insurance and 6-member GoM on rate rationalisation.
 

MUMBAI [Maha Media]: Equity benchmark indices Sensex and Nifty climbed in early trade on Tuesday helped by value buying at lower levels along with sustained investment by domestic institutional investors and a rally in the US markets.

The BSE benchmark Sensex climbed 324.83 points to 79,820.98 in early trade. The NSE Nifty went up by 100.7 points to 24,242.

From the 30-share Sensex pack, Bharti Airtel, ICICI Bank, Sun Pharma, Axis Bank, Tata Steel, Titan, Reliance Industries and Power Grid were the biggest gainers.
 

PANAJI [Maha Media]: Union Commerce and Industry Minister Piyush Goyal on Friday said India's growth story will take the country's USD 3.5 trillion economy now to USD 35 trillion in the next 25 years.

Addressing the inaugural session of Amazing Goa Global Business Summit 2024, Goyal said that the 21st century belongs to India and it was on track to become the third largest world economy in three years.

Chief Minister Pramod Sawant, former Union minister Suresh Prabhu and others were present during the inaugural function of the summit, an initiative of the Vibrant Goa Foundation.
 

MUMBAI [Maha Media]:The rupee fell 5 paise to an all-time low of 84.37 against the US dollar in early trade on Friday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities.

Forex traders said the US Federal Reserve's recent decision to cut interest rates signals a shift in the global financial landscape. Moreover, with Donald Trump's tax and trade policies influencing global markets, volatility could re-enter the rupee's trajectory.

At the interbank foreign exchange, the rupee opened at 84.32 against the greenback, then it fell further to an all-time low of 84.37, registering a rise of 5 paise over its previous close.
 

MUMBAI [Maha Media]: The BSE Sensex on Friday declined 55.47 points to close at 79,486.32 as selling was seen in Realty, Energy, and Oil and Gas stocks. The National Stock Exchange (NSE) slipped 51.15 points at 24,148.20. The Nifty registered days high and low at 24,276.16 and 24,066.65 points, respectively. High volatility was seen during the day as the Sensex opened in green at 79,611.80, rising 70 pts. 

It was gained further by 266 points at 79,807.26 days high. In late trade it erased earlier gains and dropped 424 pts at 79,117.37, days low before closing at 79,486.32, down 55.47 pts from its previous close. 

The stocks that dragged the market were Realty by 2.98 pc, Energy by 2.10 pc and Oil and Gas by 2.08 pc.

The midcap fell 1.18 pc and Small cap by 1.52 pc. In 30 scrips, 15 advanced, while 15 declined. The losers were Asian Paints by 2.62 pc to Rs 2769, Tata Steel by 2.35 pc to Rs 147.35, SBI by 2.11 pc to Rs 841.10, Reliance Industries by 2.01 pc to Rs 1279.45, and NTPC by 1.98 pc to Rs 396. The gainers were M&M by 2.69 pc to Rs 2967.65, Titan by 2.13 pc to Rs 3186.35, Tech Mahindra by 1.59 pc to Rs 1677.35, and Infosys by 1.31 pc to Rs 1826.20.
 

MUMBAI [Maha Media]: Erasing gains, the BSE Sensex on Thursday dropped 836.34 pts to close at 79,541.79 as selling was seen across the board despite positive global cues. The National Stock Exchange (NSE) slipped 284.70 pts at 24,199.35. 

The Nifty registered days high and low at 24,503.35 and 24,179.05 pts respectively. 

The Sensex opened in green at 80,563.42, up 185 pts, which was the day's high figure, later it was tanked 959 pts at 79,419.34, a day low, before closing at 79,541.79, sliding 836.34 pts from its previous close. 

The stocks that dragged the market were Metal by 2.54 pc, Utilities by 1.82 pc, Realty by 1.45 pc and Power by 1.42 pc.

The Mid-cap fell by 0.67 pc and the Small-cap by 0.44 pc. In 30 scrips, 2 advanced, while 28 declined. The losers were Tata Motors by 2.36 pc to Rs 819.90, Tech Mahindra by 2.21 pc to Rs 1656, JSW Steel by 1.99 pc to Rs 988.75 and Sun Pharma by 1.96 pc to Rs 1791.50. The gainers were SBI by 0.53 pc to Rs 859.25 and TCS by 0.26 pc to Rs 4149.40.
 

NEW DELHI [Maha Media]: India's services activities accelerated in October this year on the back of healthy customer demand domestically and from abroad, as per a private survey released on Wednesday. The HSBC India services Purchasing Managers' Index (PMI) rose to 58.5 in October this year from 57.5 in September, driven by sharper expansions in output and new business. While a PMI reading above 50 means expansion, the print below 50 shows contraction. As per HSBC India services PMI, compiled by S&P Global, Indian service providers maintained a strong rate of output expansion in October, with growth recovering from September's ten-month low.

"India’s services PMI recovered from its ten-month low in September to reach 58.5 last month. During October, the Indian services sector experienced strong expansions in output and consumer demand, as well as job creation, which achieved a 26-month high," said Pranjul Bhandari, Chief India Economist at HSBC. The HSBC India Services PMI is compiled by S&P Global from responses to questionnaires sent to a panel of around 400 service sector companies. The sectors covered include consumer (excluding retail), transport, information, communication, finance, insurance, real estate and business services. 

"The seasonally adjusted HSBC India Services Business Activity Index is based on a single question asking how the level of business activity compares with the situation the month before," the survey said. One of the closely-watched monthly numbers by economists and policy watchers, the survey said that input costs increased at the strongest pace for three months in October. Higher business expenses were largely attributed to rising wage bills and food costs. "Efforts to pass these on to clients meant that selling charges were hiked again," it said. The survey said that business sentiment remained positive in October this year despite receding a little from September. 
 

MUMBAI [Maha Media]: The BSE Sensex on Wednesday spurted 901.50 pts to close high at 80,378.13 as buying was seen across the board and Donald Trump's victory in US Presidential election also boosted the equity market. 

The National Stock Exchange (NSE) gained 270.75 pts at 24,484.05. The Nifty registered days high and low at 24,537.60 and 24,204.05 pts respectively.  The Sensex opened in green at 79,771, up 295 pts. It rallied by 1093 pts at 80,569.73, a day high, before closing at 80,378.13, advancing 901.50 pts from its previous close. The stocks that boosted the market were IT by 4.04 pc, Telecom by 3.37 pc, and Industries by 2.66 pc. 

The Mid-cap rose by 2.28 pc and the Small cap by 1.96 pc. In 30 scrips, 25 advanced, while 5 declined. The gainers were TCS by 4.21 pc to Rs 4138.80, Infosys by 4.02 pc to Rs 1824.30, Tech Mahindra by 3.85 pc to Rs 1696, HCL Technology by 3.71 pc to 61838.95 and Adani Ports by 3.21 pc to Rs 1371.90. The losers were Titan by 1.72 pc to Rs 3177.50, IndusInd Bank by 1.14 pc to Rs 1077.60, and Hind Unilever by 0.79 pc to Rs 2501.35 
 

MUMBAI [Maha Media]: Benchmark Sensex recovered its early losses to close sharply higher by 694 points on late buying in banking, steel and oil & gas shares amid firm trends in global equities.

Bouncing back from Monday's sharp fall, the BSE Sensex jumped 694.39 points or 0.88 percent to settle at 79,476.63. During the day, it soared 740.89 points, or 0.94 percent to 79,523.13.

The NSE Nifty climbed 217.95 points or 0.91 percent to 24,213.30.
 

MUMBAI [Maha Media]: The rupee on Monday fell 4 paise to a record low of 84.11 (provisional) against the US dollar, tracking a weak trend in domestic equities and relentless foreign capital outflows.

Forex traders said the Indian rupee touched new all-time lows weighed down by negative domestic markets which fell nearly 1.18 per cent. A recovery in crude oil prices and FII outflows also dented investor sentiments.

However, the softening of the US dollar prevented a sharp fall.
 

AGRA [Maha Media]: A MiG-29 fighter jet of the Indian Air Force crashed in a field in Uttar Pradesh's Agra on Monday, sources said.

There were no casualties in the incident and the pilot ejected safely, they said.

A Court of Inquiry will be ordered, they said.
 

MUMBAI [Maha Media]: Benchmark Sensex tanked nearly 942 points to settle at a three-month low while Nifty tumbled more than 1 per cent to close below 24,000 on Monday dragged down by heavy selling in Reliance Industries and banking shares.

The 30-share BSE Sensex tumbled 941.88 points or 1.18 per cent to settle at 78,782.24, the lowest closing level since August 6. During the day, it slumped 1,491.52 points or 1.87 per cent to 78,232.60.

The NSE Nifty tanked 309 points or 1.27 per cent to 23,995.35.
 

MUMBAI [Maha Media]: The Indian stock market opened in red for the second consecutive day on Wednesday as selling was seen in PSU bank and pharma sectors in early trade.

Sensex was trading at 80,057.15 after falling 311.88 points or 0.39 per cent. At the same time. Nifty was trading at 24,372.75 after falling 94.10 points or 0.38 per cent.

The market trend remained positive. On the National Stock Exchange (NSE), 1,666 stocks were trading in green, while 586 stocks were trading in red.

The Nifty Bank was at 52,890.30 after slipping 430.40 points or 0.82 per cent. The Nifty Midcap 100 index was trading at 56,460.75 after climbing 209.45 points or 0.37 per cent. The Nifty Small cap 100 index was at 18,355.35 after climbing 156.40 points or 0.86 per cent.

Maruti, IndusInd Bank, Tata Motors, TCS and ITC were the top gainers in the Sensex pack. At the same time, Sun Pharma, Bajaj Finserv, Titan, HCL Tech, PowerGrid and Asian Paints were the top losers.

Maruti, BEL, IndusInd Bank, Tata Motors and Bajaj Auto were the top gainers in the Nifty pack. Cipla, Dr Reddy's, Sun Pharma, Shriram Finance, Bajaj Finserv and Titan were the top losers.
 

MUMBAI [Maha Media]: The BSE Sensex on Tuesday further gained by 363.99 points to close at 80,369.03 following gains in Bankex, Realty, Utilities and Capital Goods stocks. The National Stock Exchange (NSE) rose 127.70 points at 24,466.85. Despite high volatility, the equity market ended positive only, as the Sensex opened at 80,037, rising 32 points. During the day, it was rallied 445 points at 80,450.48, days high before closing at 80,369.03, gaining 363.99 points from its last close.

The Nifty registered days high and low at 24,484.50 and by 24,140.85 points respectively. The Mid cap moved up 0.76 pc and Small cap by 0.81 pc. In 30 scrips, 16 advanced, while 14 declined. The stocks that kept the market up were Bankex by 2.21 pc, Realty by 1.49 pc, Capital Goods by 1.34 pc and Utilities by 1.32 pc. The gainers were SBI by 5.26 pd to Rs 833.45, ICICI Bank by 3.11 pc to Rs 1332.90, NTPC by 2.11 pc to Rs 412.25, Bajaj Finserv by 2.03 pc to Rs 1765.35 and Adani Ports by 1.61 pc to Rs 1375. 

The losers were Maruti Suzuki by 4.17 pc to Rs 11003.45, Tata Motors by 4.06 pc to Rs 843, Bharti Airtel by 1.75 pc to Rs 1634.50 and Sun Pharma by 1.66 pc to Rs 1871.05.

MUMBAI [Maha Media]: The real estate sector in India raised nearly Rs 13,500 crore via initial public offerings (IPOs) from the markets this year to date, almost double the amount raised in 2023, according to a report on Tuesday.

With 123 fresh issues (As of October 20) across multiple sectors, 2024 has already surpassed the total number of IPOs witnessed in 2023, according to a report by Colliers India.

Since 2021, the bourses have witnessed 21 real estate IPOs, significantly higher than the 11 listings in the previous four years, during 2017-2020.

In the post-pandemic era, 21 real estate companies have raised Rs 31,900 crore through IPOs, more than double the funds raised in the preceding four-year period (2017-2020).

Traction in IPOs in real estate is largely led by housing finance institutions, that attracted 46 per cent of the capital raised during 2021-2024, followed by real estate investment trusts (REITs), at 22 per cent share.

Leading real estate developers with a primary focus on residential assets too raised significant funds at Rs 5,600 crore, more than 10 times compared to the preceding four-year period, the report noted.

“The positive outlook for IPO activity in India is underpinned by higher investment in infrastructure, favourable demographics, and higher consumer spending supported by a conducive regulatory framework.” said Badal Yagnik, Chief Executive Officer, Colliers India.
 

MUMBAI [Maha Media]: Equity markets rebounded in early trade on Monday, driven by buying in the stock of blue-chip ICICI Bank, firm trends in Asian peers and continuous buying by domestic institutional investors.

The BSE Sensex jumped 462.45 points to 79,864.74 in early trade. The NSE Nifty climbed 112.1 points to 24,292.90.

From the 30 Sensex pack, ICICI Bank climbed nearly 3 per cent after the private sector lender posted a 14.5 per cent growth in standalone profit to Rs 11,746 crore for the second quarter ended September 2024.
 

MUMBAI [Maha Media]: Stock markets gave up early gains and traded lower on Friday amid a sharp fall in IndusInd Bank shares and relentless foreign fund outflows.

The BSE Sensex climbed 130.56 points to 80,195.72 in early trade. The NSE Nifty went up by 36.9 points to 24,436.30.

However, the selling pressure soon dragged both the indices down. The BSE benchmark traded 197.47 points lower at 79,875.03 and the Nifty quoted with a cut of 89.20 points at 24,310.20.
 

NEW DELHI [Maha Media]: Asserting that addressing conflicts and tensions effectively is a “particular need of the day,” External Affairs Minister S Jaishankar on Thursday said disputes and differences must be settled by dialogue and diplomacy, and agreements, once reached, must be “scrupulously respected.”

He made the remarks while representing Prime Minister Narendra Modi at the BRICS Outreach session in Kazan in Russia.

“We meet in difficult circumstances. The world must be prepared to think afresh on longstanding challenges. Our gathering is a message that we are indeed prepared to do so,” Jaishankar said.

In his address, he also cited Prime Minister Narendra Modi's previously spoken words that “This is not an era of war.”

“Addressing conflicts and tensions effectively is a particular need of the day. Prime Minister Modi has emphasised that this is not an era of war. Disputes and differences must be settled by dialogue and diplomacy. Agreements, once reached, must be scrupulously respected,” the external affairs minister said.

International law should be adhered to, without exception. There should be zero tolerance for terrorism, Jaishankar said at the BRICS Outreach session.

He also said that the “situation in West Asia is an understandable concern,” and there is widespread anxiety that conflict would spread further in the region.

The Outreach/BRICS Plus meeting held here on the final day of the BRICS Summit was hosted by Russian President Vladimir Putin. The session was attended by UN Secretary General Antonio Guterres, more than 20 world leaders and over 30 delegations.

MUMBAI [Maha Media]: Extending losses for the fourth straight session on Thursday, the BSE Sensex eased 16.82 pts to settle at 80,065.16 as selling was seen in Realty, Telecommunications, and FMCG stocks. 

The National Stock Exchange (NSE) fell 36.60 pts at 24,399.40. 

The Sensex rose 17 pts at 80,098.30. It gained 178 pts at 80,259.82, a days high. In late trade it erased earlier gains and finished at 80,065.16, sliding 16.82 pts from its previous close. The NSE registered days high and low at 24,480.65 and 24,341.20 pts respectively. The stocks that kept the market weak were FMCG by 2.66 pc, Realty by 1.21 pc, and Telecommunications by 1.02 pc. 

The Mid-cap declined by 0.13 pc and Small-cap by 0.72 pc. In 30 scrips, 19 advanced, while 11 declined. The losers were Hind Unilever by 5.83 pc to Rs 2502.95, Nestle India Ltd by 2.88 pc to Rs 2260, ITC by 1.81 pc to Rs 47.85 and Maruti Suzuki by 1.61 pc to Rs 11770. The gainers were Ultracemco by 2.77 pc to Rs 11050, M& M by 1.51 pc to Rs 2832.70, Titan by 1.37 pc to Rs 3335, and Adani Ports by 1.31 pc to Rs 1358. 
 

NEW DELHI [Maha Media]: The National Payments Corporation of India (NPCI) has granted approval to Paytm to onboard new UPI users, subject to the adherence to all procedural guidelines and circulars, according to the company.

The move is expected to come as a relief to Paytm, which had suffered a blow following the Reserve Bank of India's restrictions earlier this year on associate company Paytm Payments Bank Limited (PPBL) in onboarding new UPI users on the Paytm app.

In March, the NPCI gave approval to Paytm to participate in UPI as a Third-Party Application Provider (TPAP). The NPCI allowed the company to continue UPI transactions through four banks -- SBI, Axis Bank, HDFC Bank and YES Bank.
 

MUMBAI [Maha Media]: The BSE Sensex on Wednesday recovered 203 pts at 80,424 in opening session as buying was seen in Health care, IT and Telecommunications stocks. The Nifty of National Stock Exchange (NSE) rose 53 pts at 24,525. The equity market improved today, after two days, as the Sensex registered intra and high and low at 80,431.63 and 79,891.68 pts respectively. 

The NSE registered days high and low at 24,540 and 24,378.10 pts respectively. The Mid cap moved up 0.48 pc and Small cap 0.65 pc. In 30 scrips, 16 advanced while 14 declined. The gainers were Bajaj Finance by 4.90 pc to Rs 7004.80, Bajaj Finserv by 2.14 pc to Rs 1760, HDFC Bank by 1.42 pc to Rs 1738.50 and Nestle India Ltd by 0.76 pc to Rs 2369. The losers were NTPC by 1.88 pc to Rs 407.70, M& M by 1.16 pc to Rs 2850.05, Powergrid by 1.04 pc to Rs 319.45 and Ultracemco by 0.88 pc to Rs 10,722.40. 
 

NEW DELHI [Maha Media]: "India is said to remain the largest growing economy in the world. We project growth at seven per cent in FY24-25, supported by recovery in rural consumption, as there have been favourable harvests. Inflation is expected to decline to 4.4 per cent in FY24-25, despite some volatility as food prices normalize," Krishna Srinivasan, Director for the IMF Asia Pacific Department, told PTI in an interview on Tuesday.

In terms of other fundamentals, he said, "despite elections, the fiscal consolidation remains on track. Reserve position is pretty good. Macro fundamentals, generally speaking, for India are good".
 

MUMBAI [Maha Media]: Benchmark Sensex plunged by 930.55 points while broader Nifty dropped below the 24,500 level to settle at more than two-month lows on Tuesday due to an intense sell-off across sectors and massive foreign fund exodus from the capital markets.

Extending losses to the second day, the BSE Sensex plummeted 930.55 points or 1.15 per cent to settle at 80,220.72, the lowest closing level since August 14. During the day, it tanked 1,001.74 points or 1.23 per cent to 80,149.53.

The NSE Nifty tumbled 309 points or 1.25 per cent to 24,472.10 as 47 of its constituents closed lower and three advanced. The index hit a low of 24,445.80 during the day.
 

NEW DELHI [Maha Media]: US billionaire entrepreneur Elon Musk warned of the risk of the united States going bankrupt if government spending is not cut. "If there is not radical reduction of government expenditures, then, just like an individual who has taken on too much debt, America will become de facto bankrupt. The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs," Musk said on X, commenting on skyrocketing interest payments on US government debt. 

In May, the US Congressional Budget Office published a report according to which the country's national debt would increase to 166% of GDP over the next 30 years, while the risk of increasing the figure to 250% of GDP was not ruled out. During Joe Biden's presidency, the US national debt has grown from $28 trillion in 2021 to an unprecedented level of more than $34.5 trillion this year. The national debt is one of the hot topics in the upcoming US presidential election, which will be held on November 5. The Democratic Party will be represented by Vice President Kamala Harris, and the Republican Party by former President Donald Trump.  
 

MUMBAI [Maha Media]: The rupee stayed flat at 84.07 against the US dollar in early trade on Tuesday as positive sentiment in domestic equity markets was negated by the unabated outflow of foreign funds.

The local unit resisted the fall on the back of the retreating dollar and a downward movement in the crude oil prices, forex traders said.

At the interbank foreign exchange, the rupee opened at 84.07 against the greenback and traded on a flat note in early deals.
 

NEW DELHI [Maha Media]: Finance Minister Nirmala Sitharaman on Monday met Citibank CEO Jane Fraser here and discussed the banking sector in view of the decadal reforms and the way forward for India.

"The two discussed the use of #AI in important sectors such as #agriculture and #UrbanDevelopment as well as India's booming #pharmaceutical sector and hub for the world," the finance ministry said in a post on X.

Fraser complimented the Finance Minister for India's digital payment transformation.

Fraser lauded the crucial reforms India has taken for infra-creation to build an ecosystem around MSMEs and said that it is important to make MSMEs a part of the supply chains.

During the meeting, Fraser also said that steps taken by the government of India towards ease of doing business will streamline business processes.

The finance minister also met global investment and Financial Services BlackRock CEO Laurence Douglas Fink.

The two discussed opportunities for global investors through NIIF and IFSC GiftCity as well as opportunities for financing of GreenTech and battery storage.

Fink informed that BlackRock is working with private partners in India, especially focusing on infrastructure development.
 

MUMBAI [Maha Media]: The rupee showed a recovery from its lower level and gained marginally by 1 paisa to 84.06 against the US dollar in early trade on Monday, tracking positive cues from domestic equity markets and a soft American currency.

However, sustained outflow of foreign funds and an upward momentum in the crude oil prices weighed on the local unit, forex traders said.

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and stayed almost flat in early deals, trading 1 paisa higher from its previous close.
 

MUMBAI [Maha Media]: Indian stock markets started the fresh week with gains as both the indices, Nifty and Sensex , surged on Monday. 

The Nifty 50 index opened at 24,956.15 points after gaining 0.41 per cent or 102.10 points, while the BSE Sensex surged by 545 points or 0.67 per cent to open at 81,770.02 points.

However, soon the benchmark indices succumbed to profit-taking and were trading lower. The BSE benchmark gauge quoted 136.52 points down at 81,060.86 and the Nifty traded 100.70 points lower at 24,753.35.
 

NEW DELHI [Maha Media]: Union Minister Nitin Gadkari inaugurated the International Seminar and Expo on Methanol organised by NITI Aayog at the Manekshaw Centre in New Delhi on Thursday. The event is being organised in collaboration with the Methanol Institute of the United States.

This event will highlight the progress of projects, products, and Research and Development initiatives related to Methanol production, application, and allied technological developments in the world. The key focus of the seminar will be to highlight the role of Methanol in the world energy transition and the rise of Methanol as a low-carbon fuel in green shipping. 

In a curtain raiser press conference in New Delhi, a Member of NITI Aayog, Dr VK Saraswat said that methanol is a versatile fuel that can be produced from a wide range of domestic feedstocks, including biomass, coal, and renewable sources. He said that it is one of the cleanest fuel and cheaper than fossil fuel. He said it will play a crucial role in India’s clean energy transition.
 

MUMBAI [Maha Media]: The rupee witnessed range-bound trade and appreciated 3 paise to 83.99 against the US dollar in initial deals on Thursday, as suspected RBI intervention, coupled with softer oil prices supported the rupee at lower levels.

Forex traders said the rupee is likely to trade in a narrow range during the day as strong dollar and a muted tone in the domestic equities weighed on the local unit, while weak crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency.

At the interbank foreign exchange, the rupee opened at 84.01 against the greenback. In the initial trade, it touched 83.99, registering a rise of 3 paise over its previous close.
 

MUMBAI [Maha Media]: The rupee witnessed range-bound trade and depreciated 3 paise to 84.07 against the US dollar in initial deals on Wednesday, weighed down by significant foreign fund outflows and the strength of the American currency in the overseas market.

Forex traders said the rupee is likely to trade in a narrow range during the day as strong dollar and a muted tone in the domestic equities weighed on the local unit, while weak crude oil prices and any intervention by the Reserve Bank of India (RBI) may also support the local currency at lower levels.

At the interbank foreign exchange, the rupee opened at 84.03 against the greenback. In the initial trade, it touched 84.07, registering a fall of 3 paise over its previous close.
 

MUMBAI [Maha Media]: Benchmark Sensex declined by 318 points while Nifty slipped below 25,000 level on Wednesday due to selling in IT and auto shares amid unabated foreign fund outflows and weak trends in global markets.

Falling for the second day, the BSE Sensex declined by 318.76 points or 0.39 per cent to settle at 81,501.36. During the day, it slumped 461.86 points or 0.56 per cent to 81,358.26.

The NSE Nifty declined by 86.05 points or 0.34 per cent to close at 24,971.30.
 

MUMBAI [Maha Media]: The rupee witnessed a range-bound trade and appreciated 1 paisa to 84.04 (provisional) against the US dollar on Tuesday, as weak crude oil prices and suspected intervention by the Reserve Bank supported the local currency at lower levels.

Forex traders said the rupee was weighed down by significant foreign fund outflows, a negative trend in domestic equities and the overall strength of the American currency in the overseas market.

At the interbank foreign exchange, the rupee opened at 84.06 against the greenback and traded in a tight range of 84.03 and 84.07. The unit settled for the day at 84.04 (provisional), registering a rise of just 1 paisa over its previous close.