Dollar poised for weekly decline; US jobs data up next
The risk-on mood helped the Aussie tack on 0.17% to last trade at $0.6583, though it was on track to end the week only about 0.2% higher, as its gains were capped by a sharp slowdown in domestic inflation.
Budget: Govt puts off equity infusion in state oil companies to next fiscal
The government has also scrapped its plan to spend ₹5,000 crore on filling the strategic petroleum reserve (SPR). Crude oil has been very volatile this fiscal year and is currently trading around $80 per barrel, making it harder for officials to make purchase decisions.
Budget 2024 provides big boost for many sectors
The government is set to introduce a housing scheme specifically designed for the middle class, facilitating their ability to purchase or construct their own homes.
Paytm stock plunges 20% after downgrades by brokerages
The RBI’s punitive measures will have a significant impact on Paytm’s business performance, said Motilal Oswal Financial Services, which slashing its price target on the stock to ₹575.
Nifty@50K thesis still holds with all right things in place: Raamdao Agrawal
Considering that it’s an interim budget, there were no major expectations from it. Yet, it had all the right things in place. Most important is the government’s fiscal position. Government borrowing for FY25 is also lower than that for FY24. Both these combined should help keep interest rates in check and prevent crowding out of […]
Budget 2024: True to script on capex even on the road to fiscal prudence
Even from a capex perspective, the numbers presented are encouraging. At an allocation of ₹11.11 lakh crore for 2024-25, the capital expenditure outlay for 2024-25 is 17% higher than the revised capex estimate of ₹9.5 lakh crore in 2023-24.
Bond yields hit 7-month low as Centre announces lower-than-expected gross borrowing
Government bond yields slid to their lowest levels since June, bringing down the cost of borrowing across the economy, as the Centre took the unusual step of dipping into a tax fund kitty to bring down its gross debt issuances for FY25, pleasantly surprising the market with lower supply.