Weak US jobs data signalling slowdown, interest rate hike in Japan, geopolitical tensions may trigger problems for India’s markets. RBI is prudent in holding interest rates for now.
Factors influencing the bearish trend in Indian markets include appreciation of Japanese Yen against US dollar, fears of a possible recession in US and rising geopolitical tensions.
Reports also explore one of India’s top automakers, Bajaj Auto’s plans for the CNG motorbike space and the impact of veterinary drugs on Indian vultures’ lives and, in turn, human life.
Among the sectoral stocks Bank, Auto, Financial Services, IT, Pharma, Private Bank, Realty, and Healthcare traded in red during the initial hours of the trade.
Sensex ended at 80,429.04 points & Nifty at 24,479.05, both slightly lower than previous close. Many analysts had expected finance minister to keep long-term capital gains rate same.
Various indicators point to the Indian stock market being overvalued. Analysts say that a crash following an unforeseen event would be exacerbated because of these excessive valuations.
Energy stocks rose 0.5%, led by a 1.2% gain in ONGC after the government cut windfall tax on petroleum crude to Rs 3,250 per metric ton from Rs 5,200, effective 15 June.
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
New Delhi: 'Atmanirbharta' and a call for 'swadeshi' were the mainstay of Prime Minister Narendra Modi’s longest Independence Day address Friday, at a time...
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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