MUMBAI: Investors, globally, do not like surprises. They also prefer a status quo. Surprisingly, both these elements were missing during Tuesday’s trading on Dalal Street. The result: A never-seen-before 4,390-point crash in Sensex and a Rs 31-lakh-crore wealth destruction in just six-and-a-half hours.On Tuesday, contrary to exit poll predictions of a resounding election mandate for…
Stock market crash today: In a stunning turn of events, the Indian stock market experienced a massive meltdown on Tuesday as vote-counting trends indicated that Prime Minister Narendra Modi’s alliance might fall short of the anticipated landslide victory. The benchmark BSE Sensex plunged over 4,300 points, marking its worst performance in four years and erasing…
Stock market ideas: The stock market witnessed a significant surge on Monday, with Nifty soaring by approximately 3% and Sensex skyrocketing by 2,778 points. This remarkable rally was seemingly driven by heavy short-covering by Foreign Institutional Investors (FIIs), following the exit polls that caught the market off guard by forecasting a resounding victory for the…
India’s manufacturing sector experienced a slowdown in growth during May, with the HSBC final India Manufacturing Purchasing Managers’ Index falling to 57.5 from 58.8 in April. Despite this decline, the index remained above the 50-mark, indicating continued expansion in the sector. The slowdown was attributed to a combination of factors, including a heatwave that led…
Adani Group Stock Prices today: On Monday, the shares of Gautam Adani‘s multi-billion dollar conglomerate experienced a significant rally, with gains reaching up to 16%. This surge followed the unanimous predictions by exit polls that Prime Minister Narendra Modi will secure a record victory in the Lok Sabha election results on Tuesday.The cumulative market capitalization…
MUMBAI: RBI‘s monetary policy committee is expected to maintain a status quo on rates for the eighth consecutive time. The panel is scheduled to meet between June 5 and June 7.A possible victory for the ruling NDA as indicated in exit polls is expected to result in lower bond yields and a stronger rupee.According to…
NEW DELHI: Billionaire Gautam Adani has once again claimed the title of Asia’s richest person, overtaking Mukesh Ambani on the Bloomberg Billionaires Index. Adani’s net worth has surged to an impressive $111 billion, placing him at the top of the list of Asia’s wealthiest individuals.Adani is at the 11th place and Mukesh occupies 12th slot…
NEW DELHI: State-run oil marketing companies reduced the prices of a 19 kg commercial LPG gas cylinder by Rs 69.50 to Rs 1,676 on Saturday in Delhi, providing relief to businesses.State-owned fuel retailers, including Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) of cooking gas on the 1st of…
MUMBAI: For desi startup firms, it’s homecoming.A growing number of Indian-origin companies are ‘reverse flipping‘ – shifting their domicile back to India from overseas because of attractive stock market valuations and to avoid trouble on the regulatory front.While fintech players PhonePe, Groww and Pine Labs have reverse-flipped, other startups like Razorpay, Meesho, Udaan, and Zepto…
NEW DELHI: India’s economy is estimated to have grown by 8.2% in 2023-24, led by a solid expansion in manufacturing and construction sectors, and a strong push from Jan-March quarter growth, beating expectations and laying a robust foundation for the new govt, which assumes office this month after the polls. The strong numbers will help…
