The focus of middle-class people has shifted towards capital markets in anticipation of higher returns and lower tax bracket in comparison to FDs which are taxed at slab rates.
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.
‘Mother kept pouring water in our eyes whenever the burning became unbearable. She pushed our bodies deep into the blanket, making sure not a single part was exposed,’ my father said.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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