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IndiaTV Business: Google News Feed: Digest for June 07, 2024

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The Indian stock market witnessed an unprecedented surge today, with the Sensex and Nifty hitting record all-time highs just one day before the counting of votes for the Lok Sabha elections. The 30-share BSE Sensex soared 2,507 points, or 3.4%, to close at 76,469, while the NSE Nifty50 climbed 733 points, or 3.25%, to settle at 23,264. This marks the biggest single-day rally ahead of election results since 2009 when the indices had jumped 2.46%.
The Reserve Bank of India (RBI) revealed on Monday that 97.82% of the Rs 2000 denomination banknotes have made their way back into the banking system, leaving only Rs 7,755 crore worth of the withdrawn notes still in the possession of the public. The RBI announced the withdrawal of Rs 2000-denomination banknotes from circulation on May 19, 2023. Since then, the total value of these banknotes in circulation has reduced significantly.
In a dramatic turn of events, the Indian stock market witnessed a severe downturn on Tuesday, with both the Sensex and Nifty taking a massive hit amidst election uncertainties. The Sensex, India's benchmark index, experienced a steep decline of 6,234.35 points, marking an 8.15% drop, while the Nifty, another key index, plunged by 1,982.45 points or 8.52%. 
Billionaire Gautam Adani's net worth approached $100 billion on Monday as Indian stock markets rallied. Shares in his companies surged up to 18% after exit polls predicted a third term for Prime Minister Narendra Modi. The National Stock Exchange's Nifty 50 index rose over 3.1%, and the Bombay Stock Exchange's Sensex index surged 3.3% on Monday. Adani Enterprises, the flagship firm of Adani's conglomerate, saw its share price rise nearly 6.9% to Rs 3,645 ($44).
A steep selloff in the Indian stock market on Tuesday, June 4, led to a massive loss for investors, wiping out approximately Rs 20 lakh crore within the first 20 minutes of trading. By 9:35 am, the market capitalisation (mcap) of BSE-listed companies had plummeted to nearly ₹406 lakh crore from the previous session's close of nearly Rs 426 lakh crore.
Benchmark equity indices Sensex and Nifty showed a strong rebound in early trade on Wednesday after significant losses in the previous session. Value-buying at lower levels led to this uptrend, signalling investor confidence returning to the markets. The 30-share BSE Sensex surged 948.83 points, reaching 73,027.88 in early trade. Similarly, the NSE Nifty climbed 247.1 points, hitting 22,131.60.
Moody's Ratings on Wednesday suggested that the slim majority won by the BJP-led National Democratic Alliance's (NDA) in Lok Sabha will likely delay far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation.
Free Aadhaar update: If you want to update your Aadhaar for free, you only have a few days left. You can update details such as ID proof and address proof at no cost until the deadline. After the deadline, a fee will be required for updates. Therefore, if you need to update any information on your Aadhaar, take advantage of this free service. Aadhaar is a 12-digit unique identification number issued to Indian citizens based on biometric and demographic information.
Following their worst single-day decline in four years, the benchmark stock indices Sensex and Nifty surged over 3 percent each on Wednesday. This recovery was driven by significant value buying from investors, spurred by the initiation of talks on government formation among NDA alliance partners. The 30-share BSE Sensex jumped 2,303.19 points or 3.20 per cent to settle at 74,382.24 on value buying in banking, auto and oil shares. All Sensex shares closed in the green. During the day, it zoomed 2,455.77 points or 3.40 per cent to 74,534.82.
In a groundbreaking move, NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) announced on Wednesday their collaboration to introduce a real-time payments system in Peru, modeled after India's Unified Payment Interface (UPI). This partnership makes Peru the first country in South America to adopt UPI technology, symbolising India's pioneering role in digital payments.
The Reserve Bank of India (RBI) revealed on Monday that 97.82% of the Rs 2000 denomination banknotes have made their way back into the banking system, leaving only Rs 7,755 crore worth of the withdrawn notes still in the possession of the public. The RBI announced the withdrawal of Rs 2000-denomination banknotes from circulation on May 19, 2023. Since then, the total value of these banknotes in circulation has reduced significantly.
In a dramatic turn of events, the Indian stock market witnessed a severe downturn on Tuesday, with both the Sensex and Nifty taking a massive hit amidst election uncertainties. The Sensex, India's benchmark index, experienced a steep decline of 6,234.35 points, marking an 8.15% drop, while the Nifty, another key index, plunged by 1,982.45 points or 8.52%. 
Billionaire Gautam Adani's net worth approached $100 billion on Monday as Indian stock markets rallied. Shares in his companies surged up to 18% after exit polls predicted a third term for Prime Minister Narendra Modi. The National Stock Exchange's Nifty 50 index rose over 3.1%, and the Bombay Stock Exchange's Sensex index surged 3.3% on Monday. Adani Enterprises, the flagship firm of Adani's conglomerate, saw its share price rise nearly 6.9% to Rs 3,645 ($44).
A steep selloff in the Indian stock market on Tuesday, June 4, led to a massive loss for investors, wiping out approximately Rs 20 lakh crore within the first 20 minutes of trading. By 9:35 am, the market capitalisation (mcap) of BSE-listed companies had plummeted to nearly ₹406 lakh crore from the previous session's close of nearly Rs 426 lakh crore.
Benchmark equity indices Sensex and Nifty showed a strong rebound in early trade on Wednesday after significant losses in the previous session. Value-buying at lower levels led to this uptrend, signalling investor confidence returning to the markets. The 30-share BSE Sensex surged 948.83 points, reaching 73,027.88 in early trade. Similarly, the NSE Nifty climbed 247.1 points, hitting 22,131.60.
Moody's Ratings on Wednesday suggested that the slim majority won by the BJP-led National Democratic Alliance's (NDA) in Lok Sabha will likely delay far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation.
Free Aadhaar update: If you want to update your Aadhaar for free, you only have a few days left. You can update details such as ID proof and address proof at no cost until the deadline. After the deadline, a fee will be required for updates. Therefore, if you need to update any information on your Aadhaar, take advantage of this free service. Aadhaar is a 12-digit unique identification number issued to Indian citizens based on biometric and demographic information.
Following their worst single-day decline in four years, the benchmark stock indices Sensex and Nifty surged over 3 percent each on Wednesday. This recovery was driven by significant value buying from investors, spurred by the initiation of talks on government formation among NDA alliance partners. The 30-share BSE Sensex jumped 2,303.19 points or 3.20 per cent to settle at 74,382.24 on value buying in banking, auto and oil shares. All Sensex shares closed in the green. During the day, it zoomed 2,455.77 points or 3.40 per cent to 74,534.82.
In a groundbreaking move, NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) announced on Wednesday their collaboration to introduce a real-time payments system in Peru, modeled after India's Unified Payment Interface (UPI). This partnership makes Peru the first country in South America to adopt UPI technology, symbolising India's pioneering role in digital payments.
The stock market opened on a robust note Thursday, buoyed by the NDA's unanimous backing of PM Narendra Modi for a third term. The Sensex jumped 696.46 points to 75,078.70, while the Nifty climbed 179.15 points to 22,799.50. Among Nifty companies, 29 advanced while 21 declined. Leading the gainers were NTPC, SBI, ONGC, Coal India, and Power Grid. Conversely, the top losers included Britannia, Hindustan Unilever, Cipla, Hindalco, and Nestle India.
In a dramatic turn of events, the Indian stock market witnessed a severe downturn on Tuesday, with both the Sensex and Nifty taking a massive hit amidst election uncertainties. The Sensex, India's benchmark index, experienced a steep decline of 6,234.35 points, marking an 8.15% drop, while the Nifty, another key index, plunged by 1,982.45 points or 8.52%. 
Billionaire Gautam Adani's net worth approached $100 billion on Monday as Indian stock markets rallied. Shares in his companies surged up to 18% after exit polls predicted a third term for Prime Minister Narendra Modi. The National Stock Exchange's Nifty 50 index rose over 3.1%, and the Bombay Stock Exchange's Sensex index surged 3.3% on Monday. Adani Enterprises, the flagship firm of Adani's conglomerate, saw its share price rise nearly 6.9% to Rs 3,645 ($44).
A steep selloff in the Indian stock market on Tuesday, June 4, led to a massive loss for investors, wiping out approximately Rs 20 lakh crore within the first 20 minutes of trading. By 9:35 am, the market capitalisation (mcap) of BSE-listed companies had plummeted to nearly ₹406 lakh crore from the previous session's close of nearly Rs 426 lakh crore.
Benchmark equity indices Sensex and Nifty showed a strong rebound in early trade on Wednesday after significant losses in the previous session. Value-buying at lower levels led to this uptrend, signalling investor confidence returning to the markets. The 30-share BSE Sensex surged 948.83 points, reaching 73,027.88 in early trade. Similarly, the NSE Nifty climbed 247.1 points, hitting 22,131.60.
Moody's Ratings on Wednesday suggested that the slim majority won by the BJP-led National Democratic Alliance's (NDA) in Lok Sabha will likely delay far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation.
Free Aadhaar update: If you want to update your Aadhaar for free, you only have a few days left. You can update details such as ID proof and address proof at no cost until the deadline. After the deadline, a fee will be required for updates. Therefore, if you need to update any information on your Aadhaar, take advantage of this free service. Aadhaar is a 12-digit unique identification number issued to Indian citizens based on biometric and demographic information.
Following their worst single-day decline in four years, the benchmark stock indices Sensex and Nifty surged over 3 percent each on Wednesday. This recovery was driven by significant value buying from investors, spurred by the initiation of talks on government formation among NDA alliance partners. The 30-share BSE Sensex jumped 2,303.19 points or 3.20 per cent to settle at 74,382.24 on value buying in banking, auto and oil shares. All Sensex shares closed in the green. During the day, it zoomed 2,455.77 points or 3.40 per cent to 74,534.82.
In a groundbreaking move, NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) announced on Wednesday their collaboration to introduce a real-time payments system in Peru, modeled after India's Unified Payment Interface (UPI). This partnership makes Peru the first country in South America to adopt UPI technology, symbolising India's pioneering role in digital payments.
The stock market opened on a robust note Thursday, buoyed by the NDA's unanimous backing of PM Narendra Modi for a third term. The Sensex jumped 696.46 points to 75,078.70, while the Nifty climbed 179.15 points to 22,799.50. Among Nifty companies, 29 advanced while 21 declined. Leading the gainers were NTPC, SBI, ONGC, Coal India, and Power Grid. Conversely, the top losers included Britannia, Hindustan Unilever, Cipla, Hindalco, and Nestle India.
Nisaba Godrej, executive chairperson of Godrej Consumer, has resigned as an independent director from the board of VIP Industries, citing differences over leadership accountability and succession planning. The resignation was effective June 3, 2024, and was disclosed in a stock exchange filing on Tuesday.
In a dramatic turn of events, the Indian stock market witnessed a severe downturn on Tuesday, with both the Sensex and Nifty taking a massive hit amidst election uncertainties. The Sensex, India's benchmark index, experienced a steep decline of 6,234.35 points, marking an 8.15% drop, while the Nifty, another key index, plunged by 1,982.45 points or 8.52%. 
Billionaire Gautam Adani's net worth approached $100 billion on Monday as Indian stock markets rallied. Shares in his companies surged up to 18% after exit polls predicted a third term for Prime Minister Narendra Modi. The National Stock Exchange's Nifty 50 index rose over 3.1%, and the Bombay Stock Exchange's Sensex index surged 3.3% on Monday. Adani Enterprises, the flagship firm of Adani's conglomerate, saw its share price rise nearly 6.9% to Rs 3,645 ($44).
A steep selloff in the Indian stock market on Tuesday, June 4, led to a massive loss for investors, wiping out approximately Rs 20 lakh crore within the first 20 minutes of trading. By 9:35 am, the market capitalisation (mcap) of BSE-listed companies had plummeted to nearly ₹406 lakh crore from the previous session's close of nearly Rs 426 lakh crore.
Benchmark equity indices Sensex and Nifty showed a strong rebound in early trade on Wednesday after significant losses in the previous session. Value-buying at lower levels led to this uptrend, signalling investor confidence returning to the markets. The 30-share BSE Sensex surged 948.83 points, reaching 73,027.88 in early trade. Similarly, the NSE Nifty climbed 247.1 points, hitting 22,131.60.
Moody's Ratings on Wednesday suggested that the slim majority won by the BJP-led National Democratic Alliance's (NDA) in Lok Sabha will likely delay far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation.
Free Aadhaar update: If you want to update your Aadhaar for free, you only have a few days left. You can update details such as ID proof and address proof at no cost until the deadline. After the deadline, a fee will be required for updates. Therefore, if you need to update any information on your Aadhaar, take advantage of this free service. Aadhaar is a 12-digit unique identification number issued to Indian citizens based on biometric and demographic information.
Following their worst single-day decline in four years, the benchmark stock indices Sensex and Nifty surged over 3 percent each on Wednesday. This recovery was driven by significant value buying from investors, spurred by the initiation of talks on government formation among NDA alliance partners. The 30-share BSE Sensex jumped 2,303.19 points or 3.20 per cent to settle at 74,382.24 on value buying in banking, auto and oil shares. All Sensex shares closed in the green. During the day, it zoomed 2,455.77 points or 3.40 per cent to 74,534.82.
In a groundbreaking move, NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) announced on Wednesday their collaboration to introduce a real-time payments system in Peru, modeled after India's Unified Payment Interface (UPI). This partnership makes Peru the first country in South America to adopt UPI technology, symbolising India's pioneering role in digital payments.
The stock market opened on a robust note Thursday, buoyed by the NDA's unanimous backing of PM Narendra Modi for a third term. The Sensex jumped 696.46 points to 75,078.70, while the Nifty climbed 179.15 points to 22,799.50. Among Nifty companies, 29 advanced while 21 declined. Leading the gainers were NTPC, SBI, ONGC, Coal India, and Power Grid. Conversely, the top losers included Britannia, Hindustan Unilever, Cipla, Hindalco, and Nestle India.
Nisaba Godrej, executive chairperson of Godrej Consumer, has resigned as an independent director from the board of VIP Industries, citing differences over leadership accountability and succession planning. The resignation was effective June 3, 2024, and was disclosed in a stock exchange filing on Tuesday.
In a dramatic turn of events, the Indian stock market witnessed a severe downturn on Tuesday, with both the Sensex and Nifty taking a massive hit amidst election uncertainties. The Sensex, India's benchmark index, experienced a steep decline of 6,234.35 points, marking an 8.15% drop, while the Nifty, another key index, plunged by 1,982.45 points or 8.52%. 
Billionaire Gautam Adani's net worth approached $100 billion on Monday as Indian stock markets rallied. Shares in his companies surged up to 18% after exit polls predicted a third term for Prime Minister Narendra Modi. The National Stock Exchange's Nifty 50 index rose over 3.1%, and the Bombay Stock Exchange's Sensex index surged 3.3% on Monday. Adani Enterprises, the flagship firm of Adani's conglomerate, saw its share price rise nearly 6.9% to Rs 3,645 ($44).
A steep selloff in the Indian stock market on Tuesday, June 4, led to a massive loss for investors, wiping out approximately Rs 20 lakh crore within the first 20 minutes of trading. By 9:35 am, the market capitalisation (mcap) of BSE-listed companies had plummeted to nearly ₹406 lakh crore from the previous session's close of nearly Rs 426 lakh crore.
Benchmark equity indices Sensex and Nifty showed a strong rebound in early trade on Wednesday after significant losses in the previous session. Value-buying at lower levels led to this uptrend, signalling investor confidence returning to the markets. The 30-share BSE Sensex surged 948.83 points, reaching 73,027.88 in early trade. Similarly, the NSE Nifty climbed 247.1 points, hitting 22,131.60.
Moody's Ratings on Wednesday suggested that the slim majority won by the BJP-led National Democratic Alliance's (NDA) in Lok Sabha will likely delay far-reaching economic and fiscal reforms that could impede progress on fiscal consolidation.
Free Aadhaar update: If you want to update your Aadhaar for free, you only have a few days left. You can update details such as ID proof and address proof at no cost until the deadline. After the deadline, a fee will be required for updates. Therefore, if you need to update any information on your Aadhaar, take advantage of this free service. Aadhaar is a 12-digit unique identification number issued to Indian citizens based on biometric and demographic information.
Following their worst single-day decline in four years, the benchmark stock indices Sensex and Nifty surged over 3 percent each on Wednesday. This recovery was driven by significant value buying from investors, spurred by the initiation of talks on government formation among NDA alliance partners. The 30-share BSE Sensex jumped 2,303.19 points or 3.20 per cent to settle at 74,382.24 on value buying in banking, auto and oil shares. All Sensex shares closed in the green. During the day, it zoomed 2,455.77 points or 3.40 per cent to 74,534.82.
In a groundbreaking move, NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) announced on Wednesday their collaboration to introduce a real-time payments system in Peru, modeled after India's Unified Payment Interface (UPI). This partnership makes Peru the first country in South America to adopt UPI technology, symbolising India's pioneering role in digital payments.
The stock market opened on a robust note Thursday, buoyed by the NDA's unanimous backing of PM Narendra Modi for a third term. The Sensex jumped 696.46 points to 75,078.70, while the Nifty climbed 179.15 points to 22,799.50. Among Nifty companies, 29 advanced while 21 declined. Leading the gainers were NTPC, SBI, ONGC, Coal India, and Power Grid. Conversely, the top losers included Britannia, Hindustan Unilever, Cipla, Hindalco, and Nestle India.
Nisaba Godrej, executive chairperson of Godrej Consumer, has resigned as an independent director from the board of VIP Industries, citing differences over leadership accountability and succession planning. The resignation was effective June 3, 2024, and was disclosed in a stock exchange filing on Tuesday.
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