Tuesday, March 10
Donald Trump launched the "Trump Gold Card," a new program offering legal status and a pathway to US citizenship for individuals and corporations making significant financial contributions. The initiative aims to raise billions for the US Treasury and retain valuable talent, with individual applicants paying $1 million and corporations $2 million per sponsored employee.
Prada is collaborating with Indian artisans for a limited-edition sandal collection, following criticism for designs resembling traditional Kolhapuri chappals. The luxury brand will produce 2,000 pairs in Maharashtra and Karnataka, blending Indian craftsmanship with Italian techniques. This initiative aims to elevate global recognition for the craft and ensure fair compensation for artisans.
Stock market today: The BSE Sensex rose by 426.86 points (0.51 per cent) to 84,818.13, fluctuating between 84,906.93 and 84,150.19. The NSE Nifty increased by 140.55 points (0.55 per cent) to 25,898.55, reaching near its daily peak of 25,922.80 as most sectors showed improvement.
Indian stock markets, Nifty50 and BSE Sensex, rebounded strongly on Thursday. Heavyweight stocks like HDFC Bank, Kotak Mahindra Bank, and Reliance Industries saw renewed buying interest. This recovery lifted the overall market sentiment. Global factors, including US Federal Reserve decisions, are expected to influence trading. Crude oil and gold prices also saw an upward trend.
The Indian rupee hit a new low against the US dollar, breaching the 90 mark again due to trade deal challenges and corporate demand. Despite a weakening dollar globally, the rupee has fallen over 5% this year.
E-commerce platform Meesho debuted on Dalal Street after a Rs 5,421.20 crore IPO, which saw an overall subscription of 79 times. The company reported strong revenue growth and narrowing EBITDA losses in FY25, with significant user expansion outside major cities. Despite positive operational metrics, risks related to cash-on-delivery and competition persist.
India is a tough nut but offers 'best' proposals in trade talks with the US, according to USTR Jamieson Greer. Discussions are underway for a bilateral trade agreement, aiming to resolve tariff issues and boost trade to $500 billion by 2030. Both nations are negotiating a framework deal and a comprehensive agreement.
Stock market today: The NSE Nifty reduced by 81.65 points (0.32 per cent) to 25,758, marking a month's low. The BSE Sensex decreased by 275.01 points (0.32 per cent) to 84,391.27.
A government panel has proposed a 'hybrid model' for AI firms, granting them a blanket license to use copyrighted works for training AI systems. This framework mandates royalty payments to intellectual property rights holders, who cannot opt out. A centralized, non-profit entity will manage these payments, simplifying access for developers and ensuring fair compensation for creators.
US stocks traded cautiously on Tuesday, with major indices showing mixed movements ahead of the Federal Reserve's interest rate decision. Investors are closely watching for future policy cues, especially regarding potential rate cuts amid a weakening jobs outlook. Stock-specific news, including Nvidia's AI chip sales and CVS Health's raised forecasts, also influenced intraday trading.
