Mumbai, July 27 (IANS) Indian benchmark equity indices snapped their five-session losing streak on Monday, buoyed by a sharp decline in crude oil prices after the United States and Iran paused military strikes, easing concerns over a prolonged geopolitical conflict.The Sensex surged 776.29 points, or 1.02 per cent, to close at 76,835.78, while the Nifty climbed 229.40 points, or 0.96 per cent, to settle at 23,995.95, nearly reclaiming the 24,000 mark.Commenting on Nifty technical outlook, expert…
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New Delhi, July 27 (IANS) Indian equities warrant a ‘constructive’ view over the long run due to demographics, rising domestic investment, a deepening financial system, diversifying supply chains and improving energy security, a report said on Monday.The report from PL Wealth recommended investors consider a phased entry into quality large‑cap and large & mid‑cap names in the short term and kept an overweight call for the 24–60-month horizon.The firm kept its overweight call on India i…
New Delhi, July 27 (IANS) India may receive FCNR (B) deposits in the range of $65-70 billion by the end of the RBI scheme on September 30, and overall $80-$85 billion, an SBI Research report said on Monday.The RBI figure of $20 billion inflows (till July 17) came as a positive reprieve, chiefly with a smart FCNR (B) corpus of $17.4 billion.“We now estimate that FCNR (B) since then has already crossed 2013 level of $26 billion in just 45 days,” said Dr. Soumya Kanti Ghosh, Group Chief Economi…
Mumbai, July 26 (IANS) The benchmark equity indices are likely to remain under pressure in the coming week, with the Sensex facing immediate resistance around the 76,300 level and the Nifty expected to find crucial support near 23,600 after both indices extended losses in a volatile trading week marked by rising crude oil prices, geopolitical tensions and weak banking stocks, analysts said on Sunday.According to experts, the Sensex surrendered the gains made in the previous week and slipped belo…
New Delhi, July 25 (IANS) India’s remarkable economic transformation since Independence has laid a strong foundation for achieving its Vision 2047 goal of becoming a developed nation, although sustained investments in health, education, jobs and green energy will be crucial to maintaining the country’s growth momentum, according to a report.The report published by Economics Observatory highlighted that India has undergone a dramatic transformation since gaining Independence in 1947, evolving fro…
Mumbai, July 24 (IANS) India’s foreign exchange reserves rose by $1.08 billion to $676.237 billion for the week ended July 17, extending their upward trend, according to data released by the Reserve Bank of India (RBI) on Friday.The latest increase follows a gain of $964 million in the previous reporting week, when the country’s forex reserves climbed to $675.157 billion.The RBI’s weekly statistical supplement showed that the country’s foreign exchange reserves continued to strengthen after reco…
Mumbai, July 17 (IANS) RBI Governor Sanjay Malhotra said on Friday that India’s fundamentals remain strong, with a decent pace of economic expansion despite geopolitical uncertainties triggered by the West Asia crisis.In an exclusive interview to Doordarshan, the RBI governor also admitted that the ongoing geopolitical tensions in West Asia and a potentially weak monsoon pose key risks to India’s economy.Malhotra defended the performance of the rupee in the backdrop of a strengthening US dol…
Mumbai, July 15 (IANS) India’s benchmark equity indices ended in the green on Wednesday after a volatile trading session, with gains in banking and financial services stocks helping the markets overcome weakness in metal, information technology and realty shares.The Sensex rose 130.49 points, or 0.17 per cent, to settle at 77,185.43, while the Nifty advanced 26.45 points, or 0.11 per cent, to close at 24,074.85.Commenting on Nifty technical outlook, experts said that strong buying interest aroun…
Mumbai, July 13 (IANS) Benchmark equity indices ended little changed on Monday, recovering from their intra-day lows as gains in information technology stocks helped offset weakness in FMCG and metal shares.The Sensex closed 47.01 points, or 0.06 per cent, higher at 77,616.40, while the Nifty edged up 4.10 points, or 0.02 per cent, to settle at 24,211.Commenting on Nifty technical outlook, experts said that the 24,300–24,400 region now stands as the immediate resistance zone, with the upper en…
New Delhi, July 12 (IANS) The changes made by the government in taxation of debt investment have made debt investment in India attractive for FPIs, which is also an important factor contributing to the stability in rupee, according to analysts.The shift in the stance of FPIs towards India, which turned positive beginning early July, is continuing. The total FPI investment through the secondary market (up to July 10) stands at Rs 5,155 crore. “Additionally, there has been an investment through …