Market News
Stay updated with the latest market trends, earnings, and economic indicators.
7 most valued firms' mcap eroded ₹1.25 trn last week, RIL took biggest hit
The combined market valuation of seven of the top-10 most-valued firms eroded by Rs 1.25 lakh crore last week, with Reliance Industries taking the biggest hit, in-line with a bearish trend in equities. Last week, the BSE benchmark Sensex declined 532.4 points, or 0.71 per cent, and the NSE Nifty dipped 181.05 points, or 0.76 per cent. "Persistent FII selling remained the key drag on market sentiment despite supportive developments such as cooling crude oil prices and a recovery in the rupee against the US dollar. Concerns regarding the pace of monsoon advancement also weighed on investor confidence," Santosh Meena, Head of Research at Swastika Investmart Ltd, said. From the top-10 pack, Reliance Industries, Bharti Airtel, Tata Consultancy Services (TCS), Bajaj Finance, Larsen & Toubro, Life Insurance Corporation of India (LIC) and Hindustan Unilever faced erosion from their valuation, while HDFC Bank, ICICI Bank, and State Bank of India were the gainers. The market valuation of ...
LPG Prices Hiked: Domestic cooking gas rates increased by Rs 29 per cylinder; Here's what consumers will now pay
LPG Price Today: Domestic LPG cylinder prices have been increased by Rs 29, taking the cost of a 14.2-kg cylinder in Delhi to Rs 942 with effect from June 7. The hike comes after a previous increase in March and is aimed at partially offsetting losses incurred by oil marketing companies on subsidised cooking gas sales amid volatile global energy prices.
E85 fuel to sell at Rs 20/litre discount to drive ethanol adoption: Oil Minister Hardeep Singh Puri
India is turning a new leaf in energy efficiency by rolling out E85 fuel, an environmentally friendly ethanol blend consisting of 85% ethanol, with a significant discount of Rs 20 per litre. This initiative is designed to not just lower fuel prices, but also to lessen India's dependence on imported fuels.
Indian companies willing to deepen presence in Venezuela, says Minister Hardeep Singh Puri
India is looking to deepen its energy partnership with Venezuela, with Indian companies expressing readiness to expand their presence. This move is part of India's strategy to diversify energy sources amid disruptions to global oil supplies caused by the West Asia conflict. Venezuela's vast oil reserves make it a key player in India's efforts to secure stable crude supplies.
INR regains momentum with all eyes on RBI monetary policy
The Indian rupee is regaining some momentum in opening trades on Friday as the global crude oil prices eased and market participants keenly awaited the RBI's MPC decision today. Heightened geopolitical tensions between the US and Iran drove energy volatility and aggressive safe-haven buying capped sharp gains in the local unit. INR opened at Rs 95.72 per dollar and hit a high of 95.63 so far during the day. Yesterday, rupee depreciated 7 paise to close at 95.83 against the US dollar. Local markets opened in the green with investors closely watching the Reserve Bank of India (RBI) monetary policy announcement scheduled for today. The Indian benchmark indices are trading higher today, with the NIFTY 50 hovering around 23,442.30 (+0.11%) and the S&P BSE SENSEX trading at 74,556.68 (+0.26%).
India eyes Venezuelan upstream & downstream energy sectors; Modi-Gomez explore partnership in critical minerals & mining too
India is seeking a long-term energy partnership with Venezuela. Prime Minister Narendra Modi held talks with Venezuela's acting President Delcy Eloina Rodriguez Gomez. Discussions covered crude oil supply diversification and cooperation in critical minerals. Both nations also explored expanding commercial ties in pharmaceuticals, agriculture, and transportation. A technical team from India will visit Venezuela soon to explore opportunities further.
Maruti unveils India's first flex-fuel car: What is a flex fuel vehicle? How does it work? Will it cut your fuel bill? Here's all
Maruti Suzuki has introduced India's first flex-fuel passenger car. This technology allows vehicles to run on petrol or petrol-ethanol blends. It is seen as a significant step towards reducing crude oil imports. The move also aims to lower carbon emissions and enhance India's energy security. This innovation could unlock substantial benefits for the country.
Maruti Suzuki launches India's first flex-fuel car, bets on biofuels to boost energy security
Maruti Suzuki has launched India's first flex-fuel passenger car, the Wagon R. This move aims to significantly cut crude oil imports and lower carbon emissions. The technology supports farmers and rural communities, linking agriculture with clean mobility. This initiative is a key step towards India's energy security and self-reliance. The company is committed to cleaner mobility solutions.
Asian shares fall after Wall Street retreat; oil eases from recent surge
Asian shares retreated on Thursday following declines on Wall Street that snapped a nine-day winning streak for the S&P 500. Oil prices fell back after surging Wednesday as renewed fighting threatened the US-Iran ceasefire. Early Thursday in Asia, Brent crude was USD 1.17 lower at USD 96.64 per barrel, while benchmark US crude oil shed USD 1.08 to USD 94.94 per barrel. Oil prices had climbed a day earlier after both the United States and Iran said they launched retaliations for earlier attacks or attempted ones. In share trading, Japan's Nikkei 225 shed 1.9% to 67,101.83 as traders sold technology stocks to lock in gains. Energy and technology giant SoftBank Group slumped 10.4%, while Shin-Etsu Chemical dropped 3.8%. Hong Kong's Hang Seng lost 1.3% to 25,299.29, and the Shanghai Composite index fell 0.4% to 4,067.46. In South Korea, the Kospi sank 1.7% to 8,651.87, while Australia's S&P/ASX 200 declined 1.5% to 8,657.40. On Wednesday, the S&P 500 fell 0.7% from its ...
Benchmarks pare steep losses; Sensex slides 304 points, Nifty ends below 23,450
The domestic equity benchmarks staged a sharp recovery from intraday lows on Wednesday as bargain hunting emerged after the morning selloff. The Nifty, which slipped to an intraday low of 23,151.50, rebounded nearly 250 points and climbed back above the 23,400 mark in late trade. Sentiment improved as investors accumulated beaten-down stocks. However, caution persisted amid uncertainty surrounding U.S.-Iran ceasefire negotiations, which kept global energy markets volatile and crude oil prices elevated. Despite the recovery, the index settled below the 23,450 level, weighed down by weakness in IT and FMCG stocks. Analysts said the Nifty remains technically weak, with immediate support seen at 23,300 and resistance at 23,600.
Oil India Ltd up for third consecutive session
Oil India Ltd is quoting at Rs 490.45, up 1.31% on the day as on 12:49 IST on the NSE. The stock is up 15.4% in last one year as compared to a 5.36% slide in NIFTY and a 12.24% slide in the Nifty Energy index.
Camelian's Vikas Khemani sees manufacturing as India's biggest long-term opportunity
Vikas Khemani, Founder of Carnelian Asset Management and Advisors, said market weakness caused by geopolitical tensions and higher oil prices is temporary and expects conditions to improve once energy concerns ease.