Tuesday, September 08
Equity investors became poorer by Rs 9.69 lakh crore in two days of sharp fall in the stock markets, where the benchmark Sensex tumbled 1,555 points. The additional 25 per cent tariff imposed by the US on India came into effect on Wednesday, bringing the total amount of levies imposed on New Delhi to 50 per cent. Also, relentless foreign fund outflows dented investors' sentiment. On Thursday, the 30-share BSE Sensex tanked 705.97 points or 0.87 per cent to settle at 80,080.57. During the day, it dropped 773.52 points or 0.95 per cent to 80,013.02. In two days, the benchmark has plummeted 1,555.34 points or 1.90 per cent. The market capitalisation of BSE-listed firms declined by Rs 9,69,740.79 crore to Rs 4,45,17,222.66 crore (USD 5.08 trillion) in two days. "Domestic equities ended lower a
At least 30 people have died after heavy rains triggered a landslide near the Vaishno Devi shrine in Katra, Jammu and Kashmir. SSP Reasi Paramvir Singh confirmed the death toll to ANI.The landslide struck around 3 pm on Tuesday near the Inderprastha Bhojnalaya at Adhkwari, roughly halfway along the 12-km trek to the shrine. Rescue teams rushed to the site, and operations are still ongoing.Meanwhile, on Wednesday, the India Meteorological Department (IMD) posted on X (formerly Twitter) that widespread thunderstorm activity continues across the region. Severe convection, with heavy rain, thunderstorms, and possible hail, is affecting areas including Jammu, RS Pura, Samba, Akhnoor, Nagrota, Kot Bhalwal, Bishnah, Vijaypur, Purmandal, and parts of Kathua and Udhampur. Moderate rainfall has been
Indian equity and commodity markets are closed on Wednesday, August 27, in observance of Ganesh Chaturthi. The mid-week closure marks the second trading holiday of the month after markets were shut on August 15 for the country’s 79th Independence Day.Trading across the BSE and the National Stock Exchange (NSE) will be halted today. This includes all segments, equities, equity derivatives, and the securities lending and borrowing (SLB) framework. With trading suspended, activity will resume on Thursday, August 28.The S&P 500 ended higher on Tuesday, lifted by Nvidia and Eli Lilly, while U.S. President Donald Trump's decision to fire a central bank governor deepened concerns about the Federal Reserve's independenceMeanwhile, Asian equities struggled for direction at the open Wednesday
Mumbai: Foreign portfolio investors, relentless net sellers lately in the listed secondary market, are nevertheless betting big on India's world-beating growth story as committed anchor investors in initial public offerings (IPO) of local companies.Collective investments of overseas funds in the anchor books of Indian IPOs surged threefold to ₹26,508 crore in FY25, compared with the previous year. The share of FPIs in total anchor investment also improved to 46% in the year ended March - from 35% in FY23.And, their commitment to this asset class remains unaltered, regardless of the noise around tariffs that are expected to change the global trade mosaic. Even in the current financial year, foreign funds invested ₹7,142 crore in anchor books until August."You are backing a company befor
Mumbai: Indian markets slid amid a broad-based sell-off on Tuesday, with the two main indices falling 1% each, after the US notice of an additional 25% tariff from Wednesday. Market experts said the street had been expecting some delay in implementation, but 50% tariffs may become the new normal and market sentiment has been dented by this blow.The NSE Nifty fell 255.7 points or 1.02% to close at 24,712.05. The BSE's Sensex declined 849.37 points or 1.04% to end at 80,786.54.On the NSE, except for fast-moving consumer goods (FMCG), all sectoral indices declined on Tuesday, with the realty, PSU bank and consumer durables indices down 1.8-2.2%."Markets were anticipating a potential rationalisation or delay in implementation of the additional 25% tariffs on India," said Rajesh Palviya, head o
Mumbai: An end to India's raging bond rally has forced top local companies, such as Housing and Urban Development Corp (Hudco) and non-bank lender Bajaj Finance, to withdraw proposed bond sales, while elevated yields are forcing even state governments to pay more to borrow from the markets.On Tuesday, New Delhi-based Hudco withdrew its bond issue as the coupon bids on its three-year bonds were at least 10 basis points higher than what it was willing to pay. Last Friday, Bajaj Finance had also withdrawn its 10-year bond issue of ₹5,000 crore because of higher-than-expected yields, Reuters reported."When we mapped the issue on the electronic book building platform on Friday, we expected to price it around 6.75%. But G-secs have moved in the last two days because of fears of higher supply o
Mumbai: Surging bond yields have widened the gap between central and state bonds, and bank fixed deposits, making the former asset category an attractive entry point for long-term investors, experts said.The 10-year risk-free rate climbed to a five-month high, and closed at 6.60% Tuesday over concerns that a potential hit to revenues after the proposed GST rationalisation will lead to higher government borrowing, treasury officials said.At an annualised yield of 6.71%, the 10-year yield is 56-66 bps higher compared with similar-tenure/(5-10 year segment) fixed deposits by the two largest banks - State Bank of India and HDFC Bank."We are still in a lowering interest rate cycle and current yields - especially on the long end - present a strong investment opportunity. They are attractive comp
