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IndiaTV Business: Google News Feed: Digest for June 22, 2024

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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). 
The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) Yojana, launched by the NDA government in 2018, aims to support landholding farmer families by providing financial assistance for agricultural and allied activities. Eligible farmers receive Rs 2,000 every four months, totalling Rs 6,000 annually. Prime Minister Narendra Modi announced the release of the 17th installment, amounting to around Rs 20,000 crore, which will benefit 9.3 crore farmers. This marks the government's continued commitment to farmer welfare.

Sensex, Nifty hit new all-time high levels in early trade

Tuesday 18 June 2024 04:08 AM UTC+00
The Indian stock markets witnessed a significant surge as the Sensex and Nifty reached new all-time high levels in early trading on Monday. The S&P BSE Sensex rose by 0.22% to 77,180.69 at 9:16 am, while the NSE Nifty50 gained 0.25%, trading at 23,523.30.

Sensex opens at record high, Nifty surpasses 23,500

Wednesday 19 June 2024 04:01 AM UTC+00
Indian shares surged to new record highs in early trading, tracking gains in global equities. The NSE Nifty 50 rose by 0.31% to 23,629.85, while the S&P BSE Sensex climbed 0.31% to 77,543.22. The rally was driven by expectations of an early rate cut by the Federal Reserve, following soft US retail sales data. Twelve of the 13 major sectors recorded gains, with 46 out of Nifty 50 companies advancing. 
Gautam Adani, Chairman of Adani Group, highlighted the crucial role of infrastructure in India's economy during the CRISIL-organised event "Infrastructure - Inspiration for India's Future" on Wednesday. He stressed that infrastructure plays a pivotal role in the country's economic framework and predicted it would play a significant role in shaping India's future. Adani noted, "The stories of tomorrow are said to be the ground of tomorrow." He emphasized that India's foundational framework is witnessing remarkable transformations, crucial for economic growth and development.
Indian equity markets opened positively on Thursday, with the BSE Sensex rising 102 points to 77,440 and the Nifty increasing 17 points to 23,533. Kotak Mahindra Bank, SBI Life, L&T, Bharti Airtel, IndusInd Bank, HDFC Bank, Hindalco, Tata Motors, and M&M were the top gainers, rising up to 1.7%. Conversely, Sun Pharma, Bajaj Finance, HDFC Life, Divis Labs, Nestle India, and ONGC were among the top laggards.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, reported a significant decline in 2024, annual data from Switzerland's central bank showed on Thursday. According to the data released by Switzerland's central bank, Indian funds in Swiss banks were down 70 per cent to the lowest in four years at 1.04 billion. 
The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday ahead of a July 4 election, but some policymakers said their decision not to cut rates was now "finely balanced". The BoE's Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists' expectations in a Reuters poll. Deputy Governor Dave Ramsden and external MPC member Swati Dhingra remained the only policymakers to support a cut to 5%.
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). 
The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) Yojana, launched by the NDA government in 2018, aims to support landholding farmer families by providing financial assistance for agricultural and allied activities. Eligible farmers receive Rs 2,000 every four months, totalling Rs 6,000 annually. Prime Minister Narendra Modi announced the release of the 17th installment, amounting to around Rs 20,000 crore, which will benefit 9.3 crore farmers. This marks the government's continued commitment to farmer welfare.

Sensex, Nifty hit new all-time high levels in early trade

Tuesday 18 June 2024 04:08 AM UTC+00
The Indian stock markets witnessed a significant surge as the Sensex and Nifty reached new all-time high levels in early trading on Monday. The S&P BSE Sensex rose by 0.22% to 77,180.69 at 9:16 am, while the NSE Nifty50 gained 0.25%, trading at 23,523.30.

Sensex opens at record high, Nifty surpasses 23,500

Wednesday 19 June 2024 04:01 AM UTC+00
Indian shares surged to new record highs in early trading, tracking gains in global equities. The NSE Nifty 50 rose by 0.31% to 23,629.85, while the S&P BSE Sensex climbed 0.31% to 77,543.22. The rally was driven by expectations of an early rate cut by the Federal Reserve, following soft US retail sales data. Twelve of the 13 major sectors recorded gains, with 46 out of Nifty 50 companies advancing. 
Gautam Adani, Chairman of Adani Group, highlighted the crucial role of infrastructure in India's economy during the CRISIL-organised event "Infrastructure - Inspiration for India's Future" on Wednesday. He stressed that infrastructure plays a pivotal role in the country's economic framework and predicted it would play a significant role in shaping India's future. Adani noted, "The stories of tomorrow are said to be the ground of tomorrow." He emphasized that India's foundational framework is witnessing remarkable transformations, crucial for economic growth and development.
Indian equity markets opened positively on Thursday, with the BSE Sensex rising 102 points to 77,440 and the Nifty increasing 17 points to 23,533. Kotak Mahindra Bank, SBI Life, L&T, Bharti Airtel, IndusInd Bank, HDFC Bank, Hindalco, Tata Motors, and M&M were the top gainers, rising up to 1.7%. Conversely, Sun Pharma, Bajaj Finance, HDFC Life, Divis Labs, Nestle India, and ONGC were among the top laggards.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, reported a significant decline in 2024, annual data from Switzerland's central bank showed on Thursday. According to the data released by Switzerland's central bank, Indian funds in Swiss banks were down 70 per cent to the lowest in four years at 1.04 billion. 
The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday ahead of a July 4 election, but some policymakers said their decision not to cut rates was now "finely balanced". The BoE's Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists' expectations in a Reuters poll. Deputy Governor Dave Ramsden and external MPC member Swati Dhingra remained the only policymakers to support a cut to 5%.
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). 
The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) Yojana, launched by the NDA government in 2018, aims to support landholding farmer families by providing financial assistance for agricultural and allied activities. Eligible farmers receive Rs 2,000 every four months, totalling Rs 6,000 annually. Prime Minister Narendra Modi announced the release of the 17th installment, amounting to around Rs 20,000 crore, which will benefit 9.3 crore farmers. This marks the government's continued commitment to farmer welfare.

Sensex, Nifty hit new all-time high levels in early trade

Tuesday 18 June 2024 04:08 AM UTC+00
The Indian stock markets witnessed a significant surge as the Sensex and Nifty reached new all-time high levels in early trading on Monday. The S&P BSE Sensex rose by 0.22% to 77,180.69 at 9:16 am, while the NSE Nifty50 gained 0.25%, trading at 23,523.30.

Sensex opens at record high, Nifty surpasses 23,500

Wednesday 19 June 2024 04:01 AM UTC+00
Indian shares surged to new record highs in early trading, tracking gains in global equities. The NSE Nifty 50 rose by 0.31% to 23,629.85, while the S&P BSE Sensex climbed 0.31% to 77,543.22. The rally was driven by expectations of an early rate cut by the Federal Reserve, following soft US retail sales data. Twelve of the 13 major sectors recorded gains, with 46 out of Nifty 50 companies advancing. 
Gautam Adani, Chairman of Adani Group, highlighted the crucial role of infrastructure in India's economy during the CRISIL-organised event "Infrastructure - Inspiration for India's Future" on Wednesday. He stressed that infrastructure plays a pivotal role in the country's economic framework and predicted it would play a significant role in shaping India's future. Adani noted, "The stories of tomorrow are said to be the ground of tomorrow." He emphasized that India's foundational framework is witnessing remarkable transformations, crucial for economic growth and development.
Indian equity markets opened positively on Thursday, with the BSE Sensex rising 102 points to 77,440 and the Nifty increasing 17 points to 23,533. Kotak Mahindra Bank, SBI Life, L&T, Bharti Airtel, IndusInd Bank, HDFC Bank, Hindalco, Tata Motors, and M&M were the top gainers, rising up to 1.7%. Conversely, Sun Pharma, Bajaj Finance, HDFC Life, Divis Labs, Nestle India, and ONGC were among the top laggards.
Funds parked by Indian individuals and firms in Swiss banks, including through local branches and other financial institutions, fell sharply by 70 per cent in 2023 to a four-year low of 1.04 billion Swiss Francs (Rs 9,771 crore), annual data from Switzerland's central bank showed on Thursday. The decline in aggregate funds of Indian clients with Swiss banks for the second consecutive year, after hitting a 14-year-high of CHF 3.83 billion in 2021, was largely driven by a sharp plunge in funds held through bonds, securities and various other financial instruments.
The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday ahead of a July 4 election, but some policymakers said their decision not to cut rates was now "finely balanced". The BoE's Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists' expectations in a Reuters poll. Deputy Governor Dave Ramsden and external MPC member Swati Dhingra remained the only policymakers to support a cut to 5%.
Market closing update: Halting their record-breaking rally, equity benchmark indices Sensex and Nifty buckled under selling pressure as investors pared exposure to oil and gas, capital goods and Fast-moving consumer goods (FMCG) stocks amid a bearish trend in global markets.
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). 
The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) Yojana, launched by the NDA government in 2018, aims to support landholding farmer families by providing financial assistance for agricultural and allied activities. Eligible farmers receive Rs 2,000 every four months, totalling Rs 6,000 annually. Prime Minister Narendra Modi announced the release of the 17th installment, amounting to around Rs 20,000 crore, which will benefit 9.3 crore farmers. This marks the government's continued commitment to farmer welfare.

Sensex, Nifty hit new all-time high levels in early trade

Tuesday 18 June 2024 04:08 AM UTC+00
The Indian stock markets witnessed a significant surge as the Sensex and Nifty reached new all-time high levels in early trading on Monday. The S&P BSE Sensex rose by 0.22% to 77,180.69 at 9:16 am, while the NSE Nifty50 gained 0.25%, trading at 23,523.30.

Sensex opens at record high, Nifty surpasses 23,500

Wednesday 19 June 2024 04:01 AM UTC+00
Indian shares surged to new record highs in early trading, tracking gains in global equities. The NSE Nifty 50 rose by 0.31% to 23,629.85, while the S&P BSE Sensex climbed 0.31% to 77,543.22. The rally was driven by expectations of an early rate cut by the Federal Reserve, following soft US retail sales data. Twelve of the 13 major sectors recorded gains, with 46 out of Nifty 50 companies advancing. 
Gautam Adani, Chairman of Adani Group, highlighted the crucial role of infrastructure in India's economy during the CRISIL-organised event "Infrastructure - Inspiration for India's Future" on Wednesday. He stressed that infrastructure plays a pivotal role in the country's economic framework and predicted it would play a significant role in shaping India's future. Adani noted, "The stories of tomorrow are said to be the ground of tomorrow." He emphasized that India's foundational framework is witnessing remarkable transformations, crucial for economic growth and development.
Indian equity markets opened positively on Thursday, with the BSE Sensex rising 102 points to 77,440 and the Nifty increasing 17 points to 23,533. Kotak Mahindra Bank, SBI Life, L&T, Bharti Airtel, IndusInd Bank, HDFC Bank, Hindalco, Tata Motors, and M&M were the top gainers, rising up to 1.7%. Conversely, Sun Pharma, Bajaj Finance, HDFC Life, Divis Labs, Nestle India, and ONGC were among the top laggards.
Funds parked by Indian individuals and firms in Swiss banks, including through local branches and other financial institutions, fell sharply by 70 per cent in 2023 to a four-year low of 1.04 billion Swiss Francs (Rs 9,771 crore), annual data from Switzerland's central bank showed on Thursday. The decline in aggregate funds of Indian clients with Swiss banks for the second consecutive year, after hitting a 14-year-high of CHF 3.83 billion in 2021, was largely driven by a sharp plunge in funds held through bonds, securities and various other financial instruments.
The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday ahead of a July 4 election, but some policymakers said their decision not to cut rates was now "finely balanced". The BoE's Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists' expectations in a Reuters poll. Deputy Governor Dave Ramsden and external MPC member Swati Dhingra remained the only policymakers to support a cut to 5%.
Market closing update: Halting their record-breaking rally, equity benchmark indices Sensex and Nifty buckled under selling pressure as investors pared exposure to oil and gas, capital goods and Fast-moving consumer goods (FMCG) stocks amid a bearish trend in global markets.
In its latest report, the Reserve Bank of India said that India's foreign exchange reserves witnessed a decline of USD 2.922 billion to reach USD 652.895 billion as of June 14. The previous week had seen a significant increase, with reserves soaring from USD 4.307 billion to a record high of USD 655.817 billion. This recent decrease follows several weeks of consecutive growth in the country's reserves, the RBI stated.
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). 
The Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) Yojana, launched by the NDA government in 2018, aims to support landholding farmer families by providing financial assistance for agricultural and allied activities. Eligible farmers receive Rs 2,000 every four months, totalling Rs 6,000 annually. Prime Minister Narendra Modi announced the release of the 17th installment, amounting to around Rs 20,000 crore, which will benefit 9.3 crore farmers. This marks the government's continued commitment to farmer welfare.

Sensex, Nifty hit new all-time high levels in early trade

Tuesday 18 June 2024 04:08 AM UTC+00
The Indian stock markets witnessed a significant surge as the Sensex and Nifty reached new all-time high levels in early trading on Monday. The S&P BSE Sensex rose by 0.22% to 77,180.69 at 9:16 am, while the NSE Nifty50 gained 0.25%, trading at 23,523.30.

Sensex opens at record high, Nifty surpasses 23,500

Wednesday 19 June 2024 04:01 AM UTC+00
Indian shares surged to new record highs in early trading, tracking gains in global equities. The NSE Nifty 50 rose by 0.31% to 23,629.85, while the S&P BSE Sensex climbed 0.31% to 77,543.22. The rally was driven by expectations of an early rate cut by the Federal Reserve, following soft US retail sales data. Twelve of the 13 major sectors recorded gains, with 46 out of Nifty 50 companies advancing. 
Gautam Adani, Chairman of Adani Group, highlighted the crucial role of infrastructure in India's economy during the CRISIL-organised event "Infrastructure - Inspiration for India's Future" on Wednesday. He stressed that infrastructure plays a pivotal role in the country's economic framework and predicted it would play a significant role in shaping India's future. Adani noted, "The stories of tomorrow are said to be the ground of tomorrow." He emphasized that India's foundational framework is witnessing remarkable transformations, crucial for economic growth and development.
Indian equity markets opened positively on Thursday, with the BSE Sensex rising 102 points to 77,440 and the Nifty increasing 17 points to 23,533. Kotak Mahindra Bank, SBI Life, L&T, Bharti Airtel, IndusInd Bank, HDFC Bank, Hindalco, Tata Motors, and M&M were the top gainers, rising up to 1.7%. Conversely, Sun Pharma, Bajaj Finance, HDFC Life, Divis Labs, Nestle India, and ONGC were among the top laggards.
Funds parked by Indian individuals and firms in Swiss banks, including through local branches and other financial institutions, fell sharply by 70 per cent in 2023 to a four-year low of 1.04 billion Swiss Francs (Rs 9,771 crore), annual data from Switzerland's central bank showed on Thursday. The decline in aggregate funds of Indian clients with Swiss banks for the second consecutive year, after hitting a 14-year-high of CHF 3.83 billion in 2021, was largely driven by a sharp plunge in funds held through bonds, securities and various other financial instruments.
The Bank of England kept its main interest rate unchanged at a 16-year high of 5.25% on Thursday ahead of a July 4 election, but some policymakers said their decision not to cut rates was now "finely balanced". The BoE's Monetary Policy Committee voted 7-2 to keep rates on hold, in line with economists' expectations in a Reuters poll. Deputy Governor Dave Ramsden and external MPC member Swati Dhingra remained the only policymakers to support a cut to 5%.
Market closing update: Halting their record-breaking rally, equity benchmark indices Sensex and Nifty buckled under selling pressure as investors pared exposure to oil and gas, capital goods and Fast-moving consumer goods (FMCG) stocks amid a bearish trend in global markets.
In its latest report, the Reserve Bank of India said that India's foreign exchange reserves witnessed a decline of USD 2.922 billion to reach USD 652.895 billion as of June 14. The previous week had seen a significant increase, with reserves soaring from USD 4.307 billion to a record high of USD 655.817 billion. This recent decrease follows several weeks of consecutive growth in the country's reserves, the RBI stated.
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