The market faced broad-based selling pressure across sectors, with financial, IT, and energy stocks among the top laggards. However, select FMCG and pharmaceutical stocks showed resilience, offering some support to the market.
Reliance Infra has reduced its standalone external debt, while Reliance Power Limited has settled all its debt. As of June 30, 2024, the net worth of Reliance Power Limited stands at R 11,155 crore on a consolidated basis.
Manish Tiwary, the India head of Amazon, stepped down from his position last month, ending an eight-year association with the global e-commerce giant.
In early trade, market indices showed varied movements as investors reacted to a mix of domestic and global cues. The Sensex and Nifty opened with moderate fluctuations.
NPS Vatsalya Scheme: The Union Finance Minister will also launch an online platform for subscribing to NPS Vatsalya, release of scheme brochure, and distribute Permanent Retirement Account Number (PRAN) cards to new minor subscribers.
The Indian government has reduced the windfall tax on domestically produced crude oil to zero, effective September 18. Previously set at Rs 1,850 per metric ton, the cut comes amid a drop in global oil prices and could lead to lower petrol and diesel costs.
India and the UK are set to hold the next round of talks for their proposed free trade agreement (FTA) in October, aiming to address outstanding issues and finalize the deal, according to a senior official.
For the first time at closing, Sensex crossed 83,000. It is for the second consecutive day that the Sensex has hit a record high. Meanwhile Nifty also touched an all-time high on Tuesday
India's exports witnessed a sharp decline of 9.3% in August 2024, falling to USD 34.71 billion compared to the same period last year. The drop reflects challenges faced by the export sector amidst global economic uncertainties.
The dip in India's wholesale inflation was helped by the fall of Brent crude prices to $75 a barrel from over $92 in April. India's wholesale inflation rate was recorded at 1.31 per cent in August, but the prices of food staples rose sharply in the same month.
In the opening bell, the 30-share BSE Sensex fell 90.8 points to 82,897.98. Meanwhile, the Nifty also declined 26.9 points to 25,356.85 points on Tuesday.
As per a notification by SEBI, it has introduced significant changes to the timeline for crediting and trading such shares. This initiative, aimed at reducing the time taken for bonus shares to become tradable from the record date.
The BJP had promised before the assembly and parliament elections to bring the Subhadra Yojana. The scheme ended 24 years of BJD rule in Odisha and helped the BJP win 20 out of 21 Lok Sabha seats in the state.
Subhadra Yojana: As part of the yojana, women beneficiaries in the age group of 21 to 60 are eligible to receive benefits of the scheme and this welfare scheme is expected to transform the lives of over 1 crore women in Odisha.
The Adani Group on Monday vehemently denied fraudulent press releases being circulated, which are related to the conglomerate’s presence in Kenya, adding that it will take legal action against anyone involved in spreading false narratives.
In the opening bell, the 30-share BSE Sensex climbed 180.92 points to 83,071.86. Meanwhile, the Nifty was also up by 55.1 points to 25,411.60 points.
So far this year's gains exceed India's cumulative foreign exchange rise in 2023. The rise in foreign exchange reserves, which saw a $71 billion dip in 2022, is significant in preventing the effects of global economic headwinds on the domestic economy.
Bank holiday on September 16: Several states will observe a bank holiday on Monday, September 16, 2024, due to Eid-E-Milad. Banks in Gujarat, Maharashtra, Karnataka, Tamil Nadu, Uttar Pradesh, Delhi, and more will be closed.
Vande Bharat Express train: One of the most anticipated trains is Hubli-Pune Vande Bharat Express which is designed to significantly reduce travel time between Karnataka and Maharashtra.
The Adani Group has been featured in TIME's "World's Best Companies of 2024" list, which recognises firms excelling in employee satisfaction, revenue growth, and sustainability. Eight of Adani’s companies, including Adani Enterprises, Adani Ports, and Adani Green Energy, were evaluated.
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