Reseñas

Traders reduced their bullish bets on insurers after the GST Council left rates on insurance products unchanged. HDFC Life, ICICI Prudential Life, and ICICI Lombard saw declines. The industry is lobbying for a rate cut from 18% to 12%. A group of ministers will review the proposal before the next Continue Reading

The Reserve Bank of India has been actively intervening in the currency market to prevent the rupee from breaching the 84 per dollar mark. This strategy involves selling and purchasing dollars to maintain exchange-rate stability amid a broader trade deficit and global economic uncertainties.

Stocks in news: Domestic markets continued their rebound, gaining nearly half a percent on Tuesday, driven by a recovery in global indices. Key stocks like HDFC Bank, Vodafone Idea, Dr Reddy’s, Reliance Industries, and IndiGo will be in focus due to various developments including loans, penalties, and regulatory clarifications.

Asian stocks fluctuated as investors await U.S. inflation data and a crucial presidential debate between Kamala Harris and Donald Trump. The debate could influence fiscal policies and economic plans. Oil prices remained near three-year lows due to weak demand concerns, while the U.S. dollar stayed defensive.

The central government will procure soyabean at Minimum Support Price in Maharashtra, Karnataka, and Telangana to support farmers. Meanwhile, the edible oil industry is urging a 15% increase in import duties on cooking oils to counteract cheap imports and stabilize domestic prices.

The main international oil contract, Brent crude, fell below $70 per barrel on Tuesday for the first time since December 2021 amid concerns about slowing economic growth depressing fuel demand. Brent crude slumped 3.7 percent in afternoon trading to $69.15 per barrel while the main US contract, West Texas Intermediate Continue Reading

Kumar Mangalam Birla, chairman of the Aditya Birla Group, has increased his stake in Vodafone Idea by purchasing 1.86 crore shares. His investment vehicle also acquired 30 lakh shares. This move comes as Vodafone Idea seeks to raise Rs 25,000 crore in debt and Rs 24,000 crore in equity funding.

The collective weight of the consumption-related sectors including automobiles, consumer durables, consumer services, FMCG, and telecommunications in the portfolios of foreign portfolio investors (FPIs) reached a record high 25.5% at the end of August 2024, according to data from NSDL.

On Tuesday, Indian markets rose for the second consecutive day, with the S&P BSE Sensex up over 360 points and Nifty50 above 25,000. Gains were noted in capital goods, healthcare, IT, power, and telecom, while energy and oil & gas stocks saw declines.

Oil prices have plummeted to their lowest point in 14 months, with Brent Crude hovering around $72 per barrel and US WTI dipping below $70. Concerns over economic conditions in major consumers like the US and China are casting a shadow on the outlook for oil demand. Despite this, a Continue Reading