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IndiaTV Business: Google News Feed: Digest for June 17, 2024

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Benchmark equity indices soared on Wednesday, with the Nifty reaching a new record high and the Sensex climbing nearly 600 points. This surge was driven by strong buying in blue-chip stocks like HDFC Bank and Reliance Industries, alongside gains in IT stocks. The NSE Nifty rose by 177.1 points, or 0.76%, to hit an all-time high of 23,441.95 during late morning trade. Meanwhile, the 30-share BSE Sensex surged by 593.94 points, or 0.77%, to 77,050.53, just 28.51 points shy of its previous lifetime peak of 77,079.04 set on Monday.
Retail inflation: Retail inflation eased to a 12-month low of 4.75 per cent in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. The Consumer Price Index (CPI) based retail inflation was 4.83 per cent in April 2024 and 4.31 per cent in May 2023 (previous low).
The Indian stock markets opened at fresh record highs on Thursday as the US Federal Reserve maintained interest rates. The Fed also signaled only one rate cut by the end of the year, despite high inflation. The Nifty hit a lifetime high of 23,481, climbing 159 points from the previous close of 23,322. The Sensex surged 539 points to reach a record high of 77,145. All Sensex stocks, except for Hindustan Unilever Limited (HUL) and ICICI Bank, were trading positively. Top gainers included Nestle, Wipro, and Tech Mahindra, with increases of up to 1.90%.
The preparation for the Union Budget 2024-25 commenced as Finance Minister Nirmala Sitharaman took charge of the Finance Ministry on Wednesday. Hours after assuming office, she resumed her second inning in the Finance Ministry kicking off preparation for the upcoming Budget 2024-25. She held a key meeting with senior officials directing them to initiate the budget preparation process. Sitharaman emphasized the need for meticulous planning and comprehensive analysis before finalising the budgetary documents.
New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, is scheduled to meet on June 22 in the national capital after a gap of eight months. The council is expected to review the implementation of the 28 per cent GST on the online gaming sector. The agenda for the 53rd meeting is yet to be circulated amongst the Council members.
New Delhi: Mumbai ranked third and Delhi fifth among the top 44 cities globally in terms of housing price increases during the January-March 2024 period, as per the London-based global property consultancy firm Knight Frank's recent report 'Prime Global Cities Index Q1 2024'. However, Bengaluru's ranking has also improved during this time.
Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. According to its report titled "Credit Conditions – Asia-Pacific H2 2024 Credit Outlook," Indonesia, the Philippines, and India have shown strong growth in the first half of the year and are expected to surpass pre-Covid growth levels. This is supported by increasing exports, strong local demand, and substantial government investments in infrastructure, it added. 
The wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of rise in prices of food articles, especially vegetables, and manufactured items. "Positive rate of inflation in May, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc," the Ministry of Commerce & Industry said in a statement on Friday.
The Insurance Regulatory Development Authority of India (IRDAI) has introduced new customer-friendly measures for health insurance policies. According to the latest circular, if insurers fail to settle claims within three hours during discharge, they must cover any additional costs incurred due to the extended hospital stay from the shareholders' fund.
The petrol and diesel prices are likely to go up in Karnataka as the Congress-led state government revised sales tax by 29.84 per cent and 18.44 per cent. According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by Rs 3 and Rs 3.05 approximately in Karnataka.
Benchmark equity indices soared on Wednesday, with the Nifty reaching a new record high and the Sensex climbing nearly 600 points. This surge was driven by strong buying in blue-chip stocks like HDFC Bank and Reliance Industries, alongside gains in IT stocks. The NSE Nifty rose by 177.1 points, or 0.76%, to hit an all-time high of 23,441.95 during late morning trade. Meanwhile, the 30-share BSE Sensex surged by 593.94 points, or 0.77%, to 77,050.53, just 28.51 points shy of its previous lifetime peak of 77,079.04 set on Monday.
Retail inflation: Retail inflation eased to a 12-month low of 4.75 per cent in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. The Consumer Price Index (CPI) based retail inflation was 4.83 per cent in April 2024 and 4.31 per cent in May 2023 (previous low).
The Indian stock markets opened at fresh record highs on Thursday as the US Federal Reserve maintained interest rates. The Fed also signaled only one rate cut by the end of the year, despite high inflation. The Nifty hit a lifetime high of 23,481, climbing 159 points from the previous close of 23,322. The Sensex surged 539 points to reach a record high of 77,145. All Sensex stocks, except for Hindustan Unilever Limited (HUL) and ICICI Bank, were trading positively. Top gainers included Nestle, Wipro, and Tech Mahindra, with increases of up to 1.90%.
The preparation for the Union Budget 2024-25 commenced as Finance Minister Nirmala Sitharaman took charge of the Finance Ministry on Wednesday. Hours after assuming office, she resumed her second inning in the Finance Ministry kicking off preparation for the upcoming Budget 2024-25. She held a key meeting with senior officials directing them to initiate the budget preparation process. Sitharaman emphasized the need for meticulous planning and comprehensive analysis before finalising the budgetary documents.
New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, is scheduled to meet on June 22 in the national capital after a gap of eight months. The council is expected to review the implementation of the 28 per cent GST on the online gaming sector. The agenda for the 53rd meeting is yet to be circulated amongst the Council members.
New Delhi: Mumbai ranked third and Delhi fifth among the top 44 cities globally in terms of housing price increases during the January-March 2024 period, as per the London-based global property consultancy firm Knight Frank's recent report 'Prime Global Cities Index Q1 2024'. However, Bengaluru's ranking has also improved during this time.
Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. According to its report titled "Credit Conditions – Asia-Pacific H2 2024 Credit Outlook," Indonesia, the Philippines, and India have shown strong growth in the first half of the year and are expected to surpass pre-Covid growth levels. This is supported by increasing exports, strong local demand, and substantial government investments in infrastructure, it added. 
The wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of rise in prices of food articles, especially vegetables, and manufactured items. "Positive rate of inflation in May, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc," the Ministry of Commerce & Industry said in a statement on Friday.
The Insurance Regulatory Development Authority of India (IRDAI) has introduced new customer-friendly measures for health insurance policies. According to the latest circular, if insurers fail to settle claims within three hours during discharge, they must cover any additional costs incurred due to the extended hospital stay from the shareholders' fund.
The petrol and diesel prices are likely to go up in Karnataka as the Congress-led state government revised sales tax by 29.84 per cent and 18.44 per cent. According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by Rs 3 and Rs 3.05 approximately in Karnataka.
Retail inflation: Retail inflation eased to a 12-month low of 4.75 per cent in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. The Consumer Price Index (CPI) based retail inflation was 4.83 per cent in April 2024 and 4.31 per cent in May 2023 (previous low).
The Indian stock markets opened at fresh record highs on Thursday as the US Federal Reserve maintained interest rates. The Fed also signaled only one rate cut by the end of the year, despite high inflation. The Nifty hit a lifetime high of 23,481, climbing 159 points from the previous close of 23,322. The Sensex surged 539 points to reach a record high of 77,145. All Sensex stocks, except for Hindustan Unilever Limited (HUL) and ICICI Bank, were trading positively. Top gainers included Nestle, Wipro, and Tech Mahindra, with increases of up to 1.90%.
The preparation for the Union Budget 2024-25 commenced as Finance Minister Nirmala Sitharaman took charge of the Finance Ministry on Wednesday. Hours after assuming office, she resumed her second inning in the Finance Ministry kicking off preparation for the upcoming Budget 2024-25. She held a key meeting with senior officials directing them to initiate the budget preparation process. Sitharaman emphasized the need for meticulous planning and comprehensive analysis before finalising the budgetary documents.
New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, is scheduled to meet on June 22 in the national capital after a gap of eight months. The council is expected to review the implementation of the 28 per cent GST on the online gaming sector. The agenda for the 53rd meeting is yet to be circulated amongst the Council members.
New Delhi: Mumbai ranked third and Delhi fifth among the top 44 cities globally in terms of housing price increases during the January-March 2024 period, as per the London-based global property consultancy firm Knight Frank's recent report 'Prime Global Cities Index Q1 2024'. However, Bengaluru's ranking has also improved during this time.
Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. According to its report titled "Credit Conditions – Asia-Pacific H2 2024 Credit Outlook," Indonesia, the Philippines, and India have shown strong growth in the first half of the year and are expected to surpass pre-Covid growth levels. This is supported by increasing exports, strong local demand, and substantial government investments in infrastructure, it added. 
The wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of rise in prices of food articles, especially vegetables, and manufactured items. "Positive rate of inflation in May, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc," the Ministry of Commerce & Industry said in a statement on Friday.
The Insurance Regulatory Development Authority of India (IRDAI) has introduced new customer-friendly measures for health insurance policies. According to the latest circular, if insurers fail to settle claims within three hours during discharge, they must cover any additional costs incurred due to the extended hospital stay from the shareholders' fund.
The petrol and diesel prices are likely to go up in Karnataka as the Congress-led state government revised sales tax by 29.84 per cent and 18.44 per cent. According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by Rs 3 and Rs 3.05 approximately in Karnataka.
Eid-al-Adha 2024: The stock market will be closed for trading on Monday (June 17) on the auspicious occasion of Bakri Eid. According to the National Stock Exchange's (NSE) official website, the trading is set to resume on Tuesday (June 18). 
Retail inflation: Retail inflation eased to a 12-month low of 4.75 per cent in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. The Consumer Price Index (CPI) based retail inflation was 4.83 per cent in April 2024 and 4.31 per cent in May 2023 (previous low).
The Indian stock markets opened at fresh record highs on Thursday as the US Federal Reserve maintained interest rates. The Fed also signaled only one rate cut by the end of the year, despite high inflation. The Nifty hit a lifetime high of 23,481, climbing 159 points from the previous close of 23,322. The Sensex surged 539 points to reach a record high of 77,145. All Sensex stocks, except for Hindustan Unilever Limited (HUL) and ICICI Bank, were trading positively. Top gainers included Nestle, Wipro, and Tech Mahindra, with increases of up to 1.90%.
The preparation for the Union Budget 2024-25 commenced as Finance Minister Nirmala Sitharaman took charge of the Finance Ministry on Wednesday. Hours after assuming office, she resumed her second inning in the Finance Ministry kicking off preparation for the upcoming Budget 2024-25. She held a key meeting with senior officials directing them to initiate the budget preparation process. Sitharaman emphasized the need for meticulous planning and comprehensive analysis before finalising the budgetary documents.
New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, is scheduled to meet on June 22 in the national capital after a gap of eight months. The council is expected to review the implementation of the 28 per cent GST on the online gaming sector. The agenda for the 53rd meeting is yet to be circulated amongst the Council members.
New Delhi: Mumbai ranked third and Delhi fifth among the top 44 cities globally in terms of housing price increases during the January-March 2024 period, as per the London-based global property consultancy firm Knight Frank's recent report 'Prime Global Cities Index Q1 2024'. However, Bengaluru's ranking has also improved during this time.
Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. According to its report titled "Credit Conditions – Asia-Pacific H2 2024 Credit Outlook," Indonesia, the Philippines, and India have shown strong growth in the first half of the year and are expected to surpass pre-Covid growth levels. This is supported by increasing exports, strong local demand, and substantial government investments in infrastructure, it added. 
The wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of rise in prices of food articles, especially vegetables, and manufactured items. "Positive rate of inflation in May, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc," the Ministry of Commerce & Industry said in a statement on Friday.
The Insurance Regulatory Development Authority of India (IRDAI) has introduced new customer-friendly measures for health insurance policies. According to the latest circular, if insurers fail to settle claims within three hours during discharge, they must cover any additional costs incurred due to the extended hospital stay from the shareholders' fund.
The petrol and diesel prices are likely to go up in Karnataka as the Congress-led state government revised sales tax by 29.84 per cent and 18.44 per cent. According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by Rs 3 and Rs 3.05 approximately in Karnataka.
Eid-al-Adha 2024: The stock market will be closed for trading on Monday (June 17) on the auspicious occasion of Bakri Eid. According to the National Stock Exchange's (NSE) official website, the trading is set to resume on Tuesday (June 18). 
Retail inflation: Retail inflation eased to a 12-month low of 4.75 per cent in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. The Consumer Price Index (CPI) based retail inflation was 4.83 per cent in April 2024 and 4.31 per cent in May 2023 (previous low).
The Indian stock markets opened at fresh record highs on Thursday as the US Federal Reserve maintained interest rates. The Fed also signaled only one rate cut by the end of the year, despite high inflation. The Nifty hit a lifetime high of 23,481, climbing 159 points from the previous close of 23,322. The Sensex surged 539 points to reach a record high of 77,145. All Sensex stocks, except for Hindustan Unilever Limited (HUL) and ICICI Bank, were trading positively. Top gainers included Nestle, Wipro, and Tech Mahindra, with increases of up to 1.90%.
The preparation for the Union Budget 2024-25 commenced as Finance Minister Nirmala Sitharaman took charge of the Finance Ministry on Wednesday. Hours after assuming office, she resumed her second inning in the Finance Ministry kicking off preparation for the upcoming Budget 2024-25. She held a key meeting with senior officials directing them to initiate the budget preparation process. Sitharaman emphasized the need for meticulous planning and comprehensive analysis before finalising the budgetary documents.
New Delhi: The GST Council, chaired by Finance Minister Nirmala Sitharaman, is scheduled to meet on June 22 in the national capital after a gap of eight months. The council is expected to review the implementation of the 28 per cent GST on the online gaming sector. The agenda for the 53rd meeting is yet to be circulated amongst the Council members.
New Delhi: Mumbai ranked third and Delhi fifth among the top 44 cities globally in terms of housing price increases during the January-March 2024 period, as per the London-based global property consultancy firm Knight Frank's recent report 'Prime Global Cities Index Q1 2024'. However, Bengaluru's ranking has also improved during this time.
Moody's latest Ratings revealed that India is poised to maintain its position as the Asia-Pacific region's top-performing economy in 2024, continuing the robust growth driven by domestic factors seen last year. According to its report titled "Credit Conditions – Asia-Pacific H2 2024 Credit Outlook," Indonesia, the Philippines, and India have shown strong growth in the first half of the year and are expected to surpass pre-Covid growth levels. This is supported by increasing exports, strong local demand, and substantial government investments in infrastructure, it added. 
The wholesale inflation rose for the third consecutive month in May at 2.61 per cent on account of rise in prices of food articles, especially vegetables, and manufactured items. "Positive rate of inflation in May, 2024 is primarily due to increase in prices of food articles, manufacture of food products, crude petroleum & natural gas, mineral oils, other manufacturing etc," the Ministry of Commerce & Industry said in a statement on Friday.
The Insurance Regulatory Development Authority of India (IRDAI) has introduced new customer-friendly measures for health insurance policies. According to the latest circular, if insurers fail to settle claims within three hours during discharge, they must cover any additional costs incurred due to the extended hospital stay from the shareholders' fund.
The petrol and diesel prices are likely to go up in Karnataka as the Congress-led state government revised sales tax by 29.84 per cent and 18.44 per cent. According to the Petroleum Dealers Association, petrol and diesel prices are likely to go up by Rs 3 and Rs 3.05 approximately in Karnataka.
Eid-al-Adha 2024: The stock market will be closed for trading on Monday (June 17) on the auspicious occasion of Bakri Eid. According to the National Stock Exchange's (NSE) official website, the trading is set to resume on Tuesday (June 18). 
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