By Bharath Rajeswaran BENGALURU (Reuters) -India’s blue-chip indexes pared early gains on Monday, as global stocks’ rally stalled over doubts about the expected U.S. rate cut in March 2024, ahead of a key U.S. inflation reading and central bank policy decisions. The NSE Nifty 50 index rose 0.13% to 20,997.10, while the S&P BSE Sensex …
India’s Nifty 50, Sensex trim gains; global markets’ rally fades Read More »
BENGALURU (Reuters) -Shares of Indian drugmaker Dr. Reddy’s Laboratories were down 5.8% on Monday after the U.S. Food and Drug Administration issued three observations for the company’s plant in Telangana state. The stock’s decline is its steepest since mid-August, the only other time this year that it has fallen over 6%. Dr. Reddy’s is also …
India’s Dr. Reddy’s shares fall on observations from US drug regulator Read More »
By Jaspreet Kalra MUMBAI (Reuters) – The Indian rupee was little changed on Monday, aided by likely intervention from the Reserve Bank of India (RBI), even as its Asian peers slipped amid an uptick in U.S. Treasury yields. The rupee was at 83.3725 against the U.S. dollar as of 10:20 a.m. IST, barely changed from …
Rupee stands pat as likely RBI help counters drop in Asian peers Read More »
By Jayshree P Upadhyay AHMEDABAD, India (Reuters) – India wants to make its financial hub in the western state of Gujarat a centre for global sustainable finance to help fund the $10 trillion investment needed to achieve its 2070 net zero emissions goal, Prime Minister Narendra Modi said on Saturday. “GIFT IFSC is an efficient …
India’s Modi aims to make GIFT City a centre for sustainable finance Read More »
By Anushree Ashish Mukherjee (Reuters) – Gold retreated back under $2,000 an ounce on Friday as the dollar and Treasury yields strengthened after traders trimmed bets for U.S. interest rate cuts to materialize by March following stronger-than-expected jobs data. Spot gold fell 1.4% to $2,000.49 per ounce by 2:15 p.m. ET (1915 GMT) after hitting …
Gold slides over 1% as strong US jobs data clouds rate cut bets Read More »
By Rajendra Jadhav and Harshit Verma (Reuters) – Physical gold dealers in India increased discounts to seven-month highs this week in a bid to lure customers as record local prices hurt demand, while premiums in top consumer China slipped. Indian dealers were offering discounts of up to $14 an ounce over official domestic prices – …
India discounts hit 7-month high as price surge dents demand Read More »
MUMBAI (Reuters) – India’s foreign exchange reserves rose for a third straight week and stood at a more than four-month high of $604.04 billion as of Dec. 1, data from the Reserve Bank of India (RBI) showed on Friday. The reserves rose by $6.1 billion in the reporting week, the highest gain since the week …
India’s forex reserves rise for third week, hit over four-month high Read More »
MUMBAI (Reuters) – India has imposed a ban on exports of onions until March 31, 2024, according to a government order issued late on Thursday. India had previously imposed a minimum export price of $800 per metric ton, until Dec. 31, 2023, to discourage exports, in an effort to curb surging local prices. (Reporting by …
MUMBAI (Reuters) – The Reserve Bank of India’s (RBI) tighter norms for credit cards and personal loans are meant to moderate excessive lending in the segment and not to stop the flow of such credit, a deputy governor at the central bank said on Friday. The RBI, last month, asked lenders to set aside more …
NEW DELHI (Reuters) – India is working to ensure supplies of ethanol for blending with gasoline are not disrupted, government officials said on Friday, a day after curbs were placed on ethanol production from cane juice to boost sugar supplies. The government will now rely on maize for ethanol production to meet gasoline blending goals, …
India working to prevent disruption of ethanol supplies for gasoline blending Read More »
