Saturday, March 07
Indian equity markets extended their winning streak for a third day, buoyed by positive global sentiment and hopes of a US-India trade deal. While the Sensex and Nifty both closed higher, profit-booking limited further gains. Investors are now keenly awaiting quarterly earnings reports for market direction.
Stock market today: The NSE Nifty advanced 67.85 points, or 0.26 per cent, to settle at 25,935.15, after climbing 122.15 points, or 0.47 per cent, to reach a session high of 25,989.45.
India's push for trade agreements has ignited a debate over importing refurbished medical equipment. Domestic players warn of patient safety risks and unfair competition, while MNCs advocate for a globally aligned framework with stringent oversight. The health ministry's committee to frame a policy has intensified industry concerns, particularly amid India-US trade talks.
The Tobacco Board has urged the Finance Minister to reconsider the significant excise duty hike on cigarettes, warning of severe repercussions. This increase, leading to a 60% price jump, risks fueling illicit trade, impacting millions of farmers and workers, and potentially collapsing market prices for tobacco growers.
Stock market today: The 30-share BSE Sensex rose by 485.35 points, or 0.58 per cent, to finish at 84,065.75. During intraday trade, the index climbed as much as 734.28 points, or 0.87 per cent, touching a high of 84,314.68.
Indian IT shares have plummeted, losing Rs 2.5 lakh crore as AI automation threatens traditional outsourcing. New tools from Anthropic and Palantir, capable of rapid SAP migrations, have spooked investors. Analysts predict a significant revenue hit, though historical disruptions have ultimately spurred industry growth. Investors are now cautiously assessing the sector's AI-driven future.
Long-duration and gilt categories saw their gains of the past three months wiped out in a single day. Market experts now believe that India’s rate-cutting cycle is over.
India's decision to import animal feed like DDGs and soybean oil from the US has sparked farmer concerns, who fear the products originate from genetically modified crops. While the government assures that all domestic crops remain safe and GM traces are eliminated post-processing, farm organizations are seeking greater clarity on the agreement's implications for local agriculture and farmer incomes.
