The dollar softened on Friday, with the euro and the yen on the rise as investors remained on tenterhooks ahead of next week's central bank bonanza where the focus is on the Federal Reserve and the size of its expected interest rate cut. While the Fed is all but certain to cut rates next week, … Read more
India's growth potential is 7.5% or more, the country's central bank chief said on Friday, which is a little above the bank's full-year forecast for 2024 of 7.2%. "I think India's potential growth today … is about seven-and-a-half-percent-plus," Reserve Bank of India Governor Shaktikanta Das said at the Bretton Woods Committee's annual Future of Finance Forum. … Read more
Oil prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana. Brent crude futures rose by 34 cents, or 0.5%, to $72.31 per barrel by 0016 GMT. U.S. West Texas Intermediate crude futures … Read more
Indian shares are set to open flat on Friday, after a sharp rally in the previous session to an all-time high, with traders expecting markets to consolidate near current levels. The GIFT Nifty was at 25,384.5 points, as of 08:17 a.m. IST, indicating the NSE Nifty 50 will open near Thursday's record closing high of … Read more
The FIIs as per Thursday's data were net buyers in both equity and debt segments, according to data released by the NSDL. In equity segment, the gross buying was of Rs 16685.03 crore against gross selling of Rs 13815.41 crore. Thus, FIIs stood as net buyers of Rs 2869.62 crore in equities. In the debt … Read more
India's August retail inflation was slightly higher than economists' expectations, on the back of a sharp rise in vegetable prices, according to government data released on Thursday. Annual retail inflation was 3.65% in August, compared with a revised 3.60% in July. Economists polled by Reuters had forecast August inflation at 3.5%. India's key inflation gauge … Read more
India's industrial output grew at 4.8% year-on-year in July, on the back of an increased electricity output, government data showed on Thursday. Economists polled by Reuters had expected growth of 4.7%. Industrial output rose at a revised rate of 4.7% in June. Manufacturing output rose 4.6% in July, the same as its 4.6% rise a … Read more
Indian equity indices closed in the green on Thursday led by metal, auto and banking stocks. Sensex closed at 1,439 points or 1.77 per cent higher at 82,962 and Nifty closed 470 points or 1.89 per cent higher at 25,388. Intraday, both Sensex and Nifty made a new all-time high of 83,116 and 25,433 respectively. … Read more
Amazon India on Thursday announced it has created more than 110,000 seasonal job opportunities across its operations network ahead of the upcoming festive season. The e-commerce major has hired thousands of women associates as well as close to 1900 persons with disabilities (PWD) into its existing network. The company said it has already onboarded a … Read more
Driven by cardiac, antimalarial, and gastrointestinal therapies the Indian pharmaceutical market has seen more than 6 per cent growth in the month of August, according to a report. The report by market research firm Pharmarack showed that the pharma market growth surged as these therapies registered nearly double-digit value growth. While cardiac and antimalarial therapies … Read more