In the early trade, the 30-share BSE Sensex climbed 204.88 points to 74,687.66. Meanwhile, the Nifty was also up by 57.35 points to 22,662.20 points.
Along with India, the global demand for gold has also gone up. For March quarter, the demand witnessed a spike of 3 per cent to 1,238 tonnes making January-March 2024, the strongest quarter after 2016.
Goods and Services Tax (GST) collections soared to a new peak of Rs 2.10 lakh crore in April, marking a 12.4% increase from the previous year.
Godrej Group splits: Pirojsha Godrej will be the Executive Vice Chairperson of GIG and will succeed Nadir Godrej as the Chairperson in August 2026.
Stock market update: The next market holiday of the stock exchange is on May 20 (Monday) for the Lok Sabha Elections 2024.
Air India has extended the suspension of its flight services to Israel's capital Tel Aviv till May 15, in the wake of prevailing conflict and tension between Israel and Hamas.
Vistara, a joint venture between the Tata Group and Singapore Airlines, has been in the news for the wrong reasons. Earlier, it was in the news for flight disruptions and now for lapses in the pilot training.
From the Nifty-50 pack, Mahindra & Mahindra, IndusInd Bank, Power Grid and Hero MotoCorp were the major gainers.
As May unfolds, several financial changes are on the horizon, impacting mutual fund investors and banking customers alike. While not as transformative as previous months, these changes demand attention and awareness.
Bank holidays May 2024: The Reserve Bank of India shared the list of bank holidays for the upcoming month which includes Sundays, second and fourth Saturdays as well as a list of public holidays.
Google has launched another round of layoffs affecting teams such as Python, Dart, and Flutter, as part of a reorganisation strategy aimed at enhancing efficiency. Unlike previous layoffs due to dissent and misconduct, this move focuses on restructuring to align resources with core priorities.
The early gains in both Sensex and Nifty suggest a positive outlook for the stock market, with investors anticipating continued momentum and favorable trading conditions throughout the session.
Indian stocks started the week on a positive note, riding on the coattails of a strong performance in US markets and improved investor sentiment. With the Sensex rising by 411 points and the Nifty climbing 53.70 points in early trade, sectors like the Nifty Bank emerged as top movers.
Despite the potential for intervention, analysts remain doubtful about its effectiveness. Tapas Strickland from the National Australia Bank highlighted that macroeconomic fundamentals do not currently support a significant shift towards a hawkish monetary stance.
During the reporting quarter, the loan growth was driven by retail at 19.4 per cent, and the proportion of such loans has grown to 54.9 per cent of the overall pie.
Oman is important to India as it provides the gateway to the Strait of Hormuz, a major transit point for global shipments. The planned deal with Oman also gives a competitive edge to India as the Gulf Cooperation Council negotiates with Pakistan and India.
Go First case: The high court pronounced judgement on petitions by several lessors seeking de-registration of their planes by aviation regulator DGCA so that they could take them back from the airline.
In the early hours of trading today, the Indian stock market witnessed a positive momentum, with the Sensex rising by 176.47 points to reach 74,515.91. Similarly, the Nifty recorded a gain of 50.05 points, reaching 22,620.40.
IndiGo announced its venture into the "wide-body space" with the procurement of 30 firm Airbus A350-900 aircraft. These planes are set to be equipped with Rolls Royce's Trent XWB engine. Presently, IndiGo boasts a fleet of over 350 aircraft.
The Employees’ Provident Fund Organisation (EPFO) increased the interest rate on provident fund deposits for FY 2023-24 from 8.15% to 8.25%, with many eagerly awaiting the crediting of their interest. EPFO calculates interest monthly, with contributions deposited at the fiscal year-end.
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