Saturday, March 07
Precious metals experienced intense selling pressure on Monday, with gold and silver hitting lower circuit limits on the MCX due to aggressive profit-booking. Gold prices slumped 6%, while silver saw a sharper 12% correction, extending recent losses after a strong rally.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmarks, opened flat in trade on Monday, a day after 2% crash on Budget’s hike in STT on futures and options. While Nifty50 went below 24,800, BSE Sensex was down over 100 points.
India's factory activity saw a slight rebound in January, with the HSBC India Manufacturing PMI rising to 55.4, driven by stronger new orders and increased production. Despite this growth, business confidence among manufacturers weakened significantly, reaching a three-and-a-half-year low, with expectations for future output declining.
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmarks, opened flat in trade on Monday, a day after 2% crash on Budget’s hike in STT on futures and options. While Nifty50 went below 24,800, BSE Sensex was down over 100 points.
Sweeping US immigration and trade policies, particularly the H-1B visa fee hike to $100,000, are straining the strategic partnership with India. This has disrupted Indian professionals' careers, impacting IT giants and creating anxiety. Critics argue these protectionist measures undermine innovation and alienate a key partner, potentially boosting India's domestic tech sector.
Nirmala Sitharaman's budget day sarees are thoughtfully selected handloom pieces that celebrate India's regional weaves, often carrying symbolic messages of growth, prosperity, and cultural pride while aligning with her "Vocal for Local" advocacy.
