By Sherin Elizabeth Varghese (Reuters) – Gold prices were flat near a two-week high on Thursday after softer-than-expected U.S. economic data spurred hopes of interest rate cuts as early as September, and the market spotlight is now on Friday’s non-farm payrolls data. Spot gold edged 0.1% higher to $2,358.19 per ounce as of 9:53 a.m. …
Gold lingers near two-week high as focus shifts to payrolls data Read More »
MUMBAI (Reuters) – India’s top private lender HDFC Bank said on Thursday its gross advances dipped 0.8% sequentially in the April-June period. Deposits were flat from the previous quarter at 23.79 trillion rupees ($284.92 billion), the lender said in an exchange filing. ($1 = 83.4963 Indian rupees) (Reporting by Siddhi Nayak and Nishit Navin; Editing …
HDFC Bank’s June-quarter gross advances down 0.8% sequentially Read More »
By Rajendra Jadhav MUMBAI (Reuters) – India’s cut and polished diamond exports have been faltering due to weak demand from the key market, China, and they are unlikely to stabilize unless the government provides support to the industry, the head of a leading trade body said on Thursday. India is the world’s largest centre for …
Weak Chinese demand dents India’s diamond exports, industry seeks support Read More »
BENGALURU (Reuters) – Foreigner portfolio investors (FPI) snapped a two-month selling streak in India’s financials and turned net buyers in June, hitting a six-month high. The heaviest-weighted sector, financials, garnered FPI inflows worth 91.7 billion rupees (about $1.1 billion) during the month, the highest since December 2023, according to data from the National Securities Depository …
FPI buying in India’s financials at six-month high in June, NSDL data shows Read More »
By Bharath Rajeswaran and Hritam Mukherjee BENGALURU (Reuters) -Indian shares ended Thursday on a flat note as a drop in heavyweight HDFC Bank offset gains across sectors, led by information technology stocks, on fresh hopes of a rate cut by the US Federal Reserve. The NSE Nifty 50 settled up 0.06% at 24,302.15 points, while …
Indian shares end flat; fall in HDFC Bank offsets IT gains Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee ended slightly stronger on Thursday, tracking firmer Asian peers amid a decline in U.S. bond yields, although gains were curbed by local dollar demand. The rupee closed at 83.4925 against the U.S. dollar, slightly higher than its close at 83.53 in the previous session. The dollar …
Rupee nudges up on lower US bond yields, forward premiums rise Read More »
By Krishna N. Das and Shivam Patel NEW DELHI (Reuters) – In the Vivekananda Camp slum, adjacent to the U.S. embassy in New Delhi, communal taps supply brackish water for about two hours a day. Water delivered by tankers provides one additional bucket to each of its 1,000 residents for drinking and cooking. In parts …
Not politics, not interest rates: India’s surging economy at risk from water Read More »
BENGALURU (Reuters) -Indian bilionaire Mukesh Ambani’s Reliance Retail Ventures will launch Chinese fast fashion label Shein in the coming weeks, selling the latter’s products on its app and brick-and-mortar stores, The Economic Times reported on Thursday. The retail unit of Ambani’s oil-to-telecom conglomerate Reliance Industries reportedly teamed up with the IPO-bound fashion brand last year …
Ambani’s Reliance to launch IPO-bound Shein in India, ET reports Read More »
By Anant Chandak BENGALURU (Reuters) -The Indian rupee will trade within the narrowest range in nearly three decades over the coming year as the Reserve Bank of India (RBI) continues to maintain its tight grip on the currency’s movements, according to a Reuters poll. While most emerging market currencies fared badly against the dollar in …
Rupee to trade in narrowest range in about 30 years on RBI’s actions Read More »
By Sarita Chaganti Singh NEW DELHI (Reuters) – India has asked power companies to order equipment worth $33 billion this year to fast track capacity additions of coal-fired power in the years ahead, as the South Asian nation struggles to meet booming electricity demand, two government officials said. The unprecedented move by the government, which …
