The money from Indians working overseas that come into NRI deposits of banks surged more than 4-fold to $2.7 billion in April-May this year compared to $0.6 billion in the same period last year, strengthening the country’s foreign exchange reserves, the latest data compiled by the RBI showed.
The Indian benchmark indices on Thursday saw a sharp rally over renewed buying in IT stocks, ending up for the fourth straight session while touching a new all-time high.
Indian equity benchmarks opened at a new record high on Thursday following positive cues from global peers. In early trading hours, Sensex and Nifty made a new all-time high of 80,374 and 24,400 respectively.
.jpg "Stock markets at fresh record high, shares of defence companies surge")
Riding on defence sector stocks led by Hindustan Aeronautics Ltd, Mazagon Dock, Paras Defence and Cochin Shipyard, the Indian indices closed at a fresh record high on Tuesday.
Indian equity frontline indices opened in green on Tuesday following positive global cues. In the early trade, Sensex and Nifty made a new all-time high of 77,326 and 23,573 respectively.
Indian stock markets have seen a robust rally since the new government's formation, closing at an all-time high in the last week. According to top rating agencies, the indices are set to gain new highs in the next 12 months.
Indian stock markets closed at an all-time high in the last week. This is the second consecutive week when Indian frontline indices Sensex and Nifty made a new all-time high of 77,145 and 23,490 respectively.
The Indian indices shrugged off election jitters and massively rebounded in a sharp rally on Wednesday, as the BJP-led National Democratic Alliance (NDA) prepared to stake fresh claims for government formation.
Jitters of counting day led the Indian indices to experience their biggest fall in the last four years on Tuesday with the investors losing nearly Rs 30 lakh crore in a single season.
Sensex went down over 1,500 points on Tuesday as the Nifty dropped more than 500 points amid early trends on Lok Sabha elections counting day.
The Indian stock markets gained over Rs 12 lakh crore, or 3.25 per cent, on Monday as fundamentals, technicals and sentiments turned favourable at the same time, which is a rare phenomenon, experts said.
Indian equity benchmarks opened at an all-time high on Monday due to Exit Polls predicting a Modi government comeback.
The special trading sessions on Saturday saw Indian equity markets extending their winning streak as the benchmark indices ended higher on both of the special sessions.
Stock exchanges informed their trading members that a special live trading session is scheduled on Saturday, 18th May 2024 together with participating MIIs -- BSE, NSE, ICCL, NCL, CDSL, NSDL, and MSEI. During this special live trading session, mentioned MIIs will perform intra-day switch-over to their respective Disaster recovery site.
The NDA rule of the last 10 years has shown superior numbers on GDP growth, inflation, CAD (Current Account Deficits), unemployment and FDI ex of pandemic year compared to the UPA regime, broking firm Prabhudas Lilladher said.
The RBI had, on Wednesday evening, barred Kotak Mahindra Bank, with immediate effect, from taking on new customers and issuing fresh credit cards.
BSE Sensex gained more than 300 points on Monday as geopolitical tensions eased and crude oil prices declined.
Intraday, the benchmarks declined nearly 1 per cent amid investor concerns that the West Asia turmoil might escalate to a war. During the day, the Nifty slipped as much as 0.99 per cent to 21,777.65, while the Sensex fell 0.93 per cent to 71,816.46 before bouncing back.
The BSE Sensex is up 42 points and trading at 72,986 points on Thursday. However, tensions in the Middle East and a hawkish stance by the US Fed are likely to weigh on the stock markets, say analysts.
,_MD_and_CEO_Ashish_Kumar_Chauhan.jpg "Indian economy resilient, fundamentals of stock exchanges very strong: NSE CEO")
The fundamentals of stock exchanges are very strong and the ongoing geo-political situation in the Middle East is not going to have any significant impact on the Indian economy, National Stock Exchange (NSE) MD and CEO Ashish Kumar Chauhan said on Monday.
India's foreign exchange reserves went up by $2.98 billion during the week ended April 5 to scale a new all-time high of $648.562 billion, data released by the RBI showed on Friday.
India's foreign exchange reserves rose for a sixth consecutive week to hit a historic high of $645.58 billion for the week ended March 29, according to RBI data released on Friday.
Among the Sensex stocks, Bajaj Fnserv is up more than 4 per cent, Bajaj Finance is up more than 3 per cent. M&M is up 3.3 per cent, SBI is up 2.8 per cent, Powergrid is up 2.5 per cent, L&T is up 2.3 per cent.
India's foreign exchange reserves surged by $6.4 billion to touch a robust $642.5 billion for the week ended March 15, the latest data released by the RBI on Friday showed.
The uncertainty regarding the Fed decision is over with the Fed keeping the rates unchanged and refraining from a hawkish message, says V. K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
