Thursday, September 17
The markets continued to remain under pressure as the Nifty logged its fourth straight week of losses. Although the index attempted a recovery in the early part of the week, it failed to move past the previous week’s high of 25,250, leading to a broad-based sell-off in the final two sessions. The decline intensified on Friday, with the index breaching key support levels and ending the session with a 0.92% loss. Over the week, Nifty fell by 0.55%, closing at 24,830.From a technical standpoint, the index's structure has weakened significantly. On the daily chart, Nifty had been moving within a “Rising Channel” pattern since May. However, the breakdown below the lower trendline this week confirms a bearish reversal. Notably, this move was accompanied by a bearish gap, classified as a
India Meteorological Department (IMD) has issued an orange alert for Kannur, Kasargod and Idukki districts for Sunday.As incessant rainfall continues in the monsoon season, the Met department has put Kerala's Wayanad, Kozhikode, Thrissur, Ernakulam, Pathanamthitta and Kottayam districts on a yellow alert for today.In its forecast for Sunday, IMD predicted squally wind speed reaching 45 kmph to 55 kmph gusting to 65 kmph to prevail over most parts of the Westcentral Arabian Sea & Eastcentral Arabian Sea, many parts of the Southwest Arabian Sea, and the Southern parts of the North Arabian Sea.IMD has also issued a high wave alert in Kasaragod and Kannur's coastal regions."High Wave Alert for the coast of KASARAGOD, KANNUR, KERALA from Kunzhathur to Kotte Kunnu. High waves in the range of
Realty firm Lodha Developers Ltd remains bullish on growth potential in housing market as it plans to launch Rs 17,000 crore worth residential projects by March next to meet consumers demand. In an interview with PTI, the company's Executive Director ( Finance) Sushil Kumar Modi noted that the high demand for residential properties, being seen post-Covid pandemic, would not only sustain but grow further, driven by the country's economic growth, income tax relief in the Budget and reduction in interest rates on home loans. He sounded confident of achieving the target of selling Rs 21,000 crore worth of properties in the current fiscal year, a 19 per cent increase from the preceding year. "We remain in track and are thereby remain confident of achieving Rs 21,000 crore of pre-sales guidance
India has granted tariff concessions to a wide range of British goods under the recently signed free trade agreement (FTA), including pastries, pet food, cosmetics and microwave ovens, while keeping sensitive sectors out to safeguard domestic interests. The comprehensive economic and trade agreement (CETA), which was signed on July 24, also offers duty-free access to UK products such as cakes, protein concentrates, dog and cat food, soaps, shaving cream, detergents, and home appliances like air conditioners and washing machines. However, the concessions are phased across sectors to give Indian industry sufficient time to prepare for enhanced competition from UK firms. The agreement will come into force in about a year as it requires approval from the British Parliament. According to the an
A high-level delegation from the U.S.-China Business Council will visit China this week and is expected to meet senior Chinese officials, the South China Morning Post (SCMP) reported on Sunday, citing two sources familiar with the matter. The delegation will be led by FedEx Chief Executive Rajesh Subramaniam, the council's board chair, and is expected to include Boeing executives and USCBC President Sean Stein, the report added. Reuters could not immediately verify the report. "They are expected to meet with Chinese officials - potentially to revive business discussions," a source told the SCMP. Both sides are also working to secure a visit to China by the U.S. president this year, the SCMP report said. The council did not respond immediately to a request for comment. The visit coincides w
