Market News
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INR slips in opening trades as dollar recovers marginally; downside seen limited
The Indian rupee fell 10 paise to 95.28 against the American currency in early trade on Monday, weighed down by slight uptick of the American currency in the overseas market. However, positive cues from local equities and easing international oil prices are likely to limit downside in the counter. Indian shares are seen opening in green, with underlying sentiment likely to remain underpinned by improving earnings visibility and expectations of a more supportive global liquidity environment going forward. The BSE Sensex gained 176.99 points (0.23%) to open at 77,940.90, while the NSE Nifty 50 rose 36.00 points (0.15%) to open at 24,306.85.
Dalal Street to track oil, earnings, global trends - The Times of India
Dalal Street to track oil, earnings, global trendsThe Times of India
Crude oil, global cues, TCS earnings to steer Indian stock market this week - Rediff
Crude oil, global cues, TCS earnings to steer Indian stock market this weekRediff
Stock markets to track crude prices, global trends, TCS earnings this week
Trading sentiment in the stock market this week will depend on crude oil prices, global trends and the start of corporate earnings season with IT bellwether TCS reporting its June-quarter financial results on July 9, analysts said. Besides, the advancement of the southwest monsoon and trading activity of foreign investors would also influence market trading, they added. "Investors will closely monitor the quarterly results of TCS on July 9, with particular focus on management commentary regarding demand trends, discretionary spending, and AI-led business opportunities," Ajit Mishra, SVP, Research, Religare Broking Ltd, said. Last week, the BSE benchmark Sensex climbed 663.44 points, or 0.86 per cent, and the NSE Nifty increased by 214.85 points, or 0.89 per cent. "Domestically, investor attention will centre on the commencement of the Q1 FY27 earnings season from July 9, with the initial batch of corporate earnings and management commentary expected to provide valuable insights int
India eyes oil exploration expansion after Middle East war shortages
In response to a critical energy supply crisis, India is ramping up its efforts in domestic crude exploration. The country, known for its reliance on oil imports, is set to unveil extensive uncharted regions for bidding. This initiative, named 'Samudra Manthan,' aims to enhance production levels in light of rising energy demands and global volatility, with significant funding earmarked for offshore drilling activities.
OMCs lost Rs 18.9/litre on diesel, ₹6 on petrol in Q1
State-run oil companies faced significant losses in the April-June quarter, losing ₹18.9 per litre on diesel and ₹6 on petrol. This downturn occurred as domestic fuel prices failed to keep pace with rising international rates. Previously, these companies enjoyed healthy profits, but fluctuating global prices and limited domestic revisions have led to volatile retail margins, impacting profitability.
What's stopping foreign investors from returning to India? A global investor explains
India doesn't yet have a strong trigger to attract foreign investors back in a big way, according to investor Adrian Mowat. He says better corporate earnings, lower oil prices and clearer proof that Indian IT companies can use AI to create value for clients could help revive overseas investor interest.
Vedanta Power, Iron & Steel and Oil & Gas shares crash up to 8%. What’s triggering the selloff?
Vedanta shares saw profit-taking after a strong rally in newly demerged entities, with most segments falling up to 8% over 14 sessions. Vedanta Aluminium Metal outperformed and gained 2%, drawing bullish calls from brokers including Emkay and Citi, which see strong upside potential driven by global aluminium demand, cost efficiencies, and improving leverage, making it the preferred long-term pick.
Petrol, Diesel Prices On July 3: Check New Fuel Rates In Mumbai, Bengaluru, Chennai, Kolkata, And More
Fuel prices in India depend on several factors, with global crude oil prices being the most significant as crude is the primary raw material used to produce petrol and diesel.
State oil companies lose ₹75,000 cr in Q1 on low prices: Oil minister Hardeep Singh Puri
State-run oil companies reported a significant loss of ₹74,781 crore in the April-June quarter due to selling fuel below market rates. Despite a global crude price drop, domestic pump prices remain unchanged as refiners process higher-priced crude. A reduction in retail fuel prices may be considered if current crude prices persist, while bulk diesel prices have narrowed the gap with retail rates.
Why petrol and diesel prices haven't fallen yet? Hardeep Singh Puri hints at rate cut after sustained low crude prices
Fuel prices might see a dip if international crude oil rates stay low for a few more weeks, according to Union Minister Hardeep Puri. Oil companies are currently using crude purchased at higher prices during the West Asia conflict, leading to past losses. However, sustained low global prices could pave the way for a reduction at the pump. India also plans to boost its oil storage capacity.
Airlines Skip Rs 10,000-Crore ATF Price Scheme After Fall In Global Oil Prices
On July 1, ATF prices in fact dropped to Rs 110 per litre from Rs 115 rate that was announced on June 9.