Sensex, Nifty rebound as Reliance, ITC gain
Equity benchmark indices Sensex and Nifty found firmer ground on Friday, propelled by a rally in market heavyweights Reliance Industries, ITC and Bharti Airtel amid a supportive trend overseas. Photograph: Danish Siddiqui/Reuters Recovering from the sharp decline in the previous trade, the 30-share BSE Sensex climbed 260.30 points or 0.36 per cent to settle at 72,664.47. During the day, it rallied 542.37 points or 0.74 per cent to 72,946.54. The NSE Nifty climbed 97.70 points or 0.44 ...Factory output slows marginally to 4.9% in March
India's industrial production growth slowed marginally to 4.9 per cent month-on-month in March 2024, mainly due to poor show by the mining sector, according to official data released on Friday. Photograph: Yusuf Ahmad/Reuters The factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.6 per cent in February 2024. However, it was 1.9 per cent in March 2023. For the fiscal 2023-24, IIP growth touched 5.8 per cent against 5.2 per cent in the preceding ...India's forex reserves jump by $3.66 bn to $641.59 bn: RBI
After three consecutive weeks of drop, India's forex reserves increased by $3.67 billion to $641.59 billion for the week ended May 3, the RBI said on Friday. Photograph: Kham/Reuters The overall kitty dropped $2.412 billion to $637.922 billion for the previous week ended April 26. For the week ended April 5, the reserves had hit an all-time high of $648.562 billion, following multiple weeks of increases after breaching the previous high of September 2021 in March this year. For the ...SIP inflows peak at Rs 20K crore as MFs conquer 6.4 million accounts
The mutual fund (MF) gross inflows through the systematic investment plan (SIP) route topped the Rs 20,000 crore mark for the first time in a calendar month as investors opened a record 6.4 million SIP accounts despite a spike in market volatility. Illustration: Dominic Xavier/Rediff.com The number of accounts opened last month was almost 50 per cent higher than the registrations seen in March. “India’s MF industry has reached yet another milestone with the SIP book crossing above ...SBI Q4 profit grows 18% to Rs 21,384 cr
The country's largest lender SBI on Thursday reported 18.18 per cent growth in March quarter consolidated net profit to Rs 21,384.15 crore as against Rs 18,093.84 crore in the year-ago period. Photograph: Rupak De Chowdhury/Reuters On a standalone basis, profit grew to Rs 20,698.35 crore from Rs 16,694.51 crore a year ago, the lender said in a regulatory filing. Consolidated net profit in fiscal year 2023-24 was up 20.55 per cent to Rs 67,084.67 crore as against Rs 55,648.17 crore in ...TCS COO Ganapathy's FY24 pay more than CEO Krithivasan's
K Krithivasan, chief executive officer (CEO) and managing director (MD) of TCS, took home a salary of Rs 25.4 crore in 2023-24 (FY24), less than chief operating officer and executive director N Ganapathy Subramaniam. Image: Krithi Krithivasan, MD and CEO, TCS. Illustration: Dominic Xavier/Rediff.com Krithivasan took charge as CEO on June 1, 2023. The FY24 remuneration includes compensation for the full year, with his service as the company’s global head for banking, financial services ...Are Markets Expecting Lower BJP Tally?
Market chatter suggests that the BJP could win fewer than 300 Lok Sabha seats. IMAGE: Prime Minister Narendra D Modi leaves after casting his vote at the Nishan Higher Secondary School in Ahmedabad, May 7, 2024. Photograph: ANI Photo Concerns over the margin of victory for the Narendra Modi-led Bharatiya Janata Party government are stoking volatility in the equity markets. The India Vix (volatility index), a measure of expected swings in the market over the next 30 days, rose for a ...Nifty can crash 1,200 points if this key level is broken. Details here
The NSE Nifty 50 has slipped 3.4 per cent, or 764 points, in the last five trading sessions, after registering a fresh all-time high at 22,794.70 on Friday, May 03, 2024. Photograph: Danish Siddiqui/Reuters In the process, the Nifty 50 index is seen quoting close to its 100-DMA (Daily Moving Average) of 21,970 for the second time in less than a month. Earlier on April 19, 2024, the Nifty 50 had tested the 100-DMA support, and then staged a smart rally of 4.7 per cent, or 1,017 points, to hit ...After lacklustre Q4 results, headwinds persist for Indian Oil stock
State-run Indian Oil Corporation (IOCL) reported a weak performance in the fourth quarter of FY24 (January-March 2024), and the turmoil in the energy market indicates it could endure another lacklustre quarter. Photograph: Adnan Abidi/Reuters The oil marketing company (OMC) reported an Ebitda of Rs 10,400 crore, down 27 per cent year-on-year (Y-o-Y) due to weak reported gross refining margin (GRM) of $8.4 per barrel in Q4FY24, which was almost half the consensus expectation of $15 per barrel.Click to show more