Amid jitters in the Rs 20,000-core pan-India firecracker market in the wake of a Supreme Court order imposing stringent rules on their sale and use, its manufacturers and sellers in the country are witnessing a 40 per cent slump in sales during the ongoing festive season, officials said on Tuesday.
India has sought greater market access for areas like agriculture products, pharmaceuticals, IT services and tourism in China, with a view to bridge the widening trade deficit with the neighbouring country, the commerce ministry said Tuesday.
State Bank of India on Monday reported an over 40 per cent year-on-year decline in its standalone net profit for the quarter ended September 30.
India saw a 29 per cent increase in online festive sales in September, setting a year-over-year (YoY) record, Oath, a Verizon subsidiary, announced on Monday.
Gold and jewellery sales in the morning trade remained subdued this Dhanteras Monday owing to sluggish demand from consumers amid high prices, according to industry players.
With the impending US sanctions on Iran, as also the ongoing quarterly earnings season and the upcoming festival of Diwali, the Indian equity market is likely to witness a short but eventful trading week ahead.
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The BSE benchmark Sensex dropped over 200 points Wednesday amid rising tension between the Reserve Bank of India and the government.
The rupee dropped by 40 paise to 74.08 against the US dollar in early trade Wednesday, amid increased demand of the American currencies from importers and sustained foreign fund outflows.
State-run oil marketing companies continued to cut the prices of key domestic transport fuels -- petrol and diesel -- well into the second week on Sunday on lower global crude oil prices.
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Quarterly results, along with manufacturing PMI and fiscal deficit data, are likely to drive the Indian equity market in the coming week.
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The US’ economy grew at an annual rate of 3.5 per cent in the third quarter, down slightly from the 4.2 per cent growth rate registered in the previous quarter, the government said on Friday.
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Taking a cue from global markets, the key Indian equity market indices on Thursday opened lower.
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The Indian rupee opened on a weaker note at 73.62 to a US dollar from its previous close, but later recovered to 73.48.
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Foreign investors have pulled out close to Rs 26,600 Crore (USD 3.6 billion) from the Indian capital markets in the first two weeks of this month
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The equities rout and concerns that the US Federal Reserve would keep tightening its lending rates sparked capital outflows, pushing the rupee lower
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The government reduced the prices of petrol and diesel by INR2.50 per litre on 4 October 2018 in response to rapid increases since the start of the year
At 1.20 p.m., the Indian rupee had recouped some of its losses and was trading at around 73.64 against the US dollar.
Sales of medium and heavy commercial vehicles grew 21 per cent to 14,232 units as against 11,805 units in the year-ago month, it added.
The key Indian equity market indices on Thursday opened higher despite a muted trend in Asian markets and rate hike by the US Federal Reserve.
Prices of pistachio hairati and peshwari rose by Rs 5 each to conclude at Rs 1,580-1,620 and Rs 1,670-1,700 per kg, respectively.
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