US stocks today: Dow Jones drops over 500 points as Middle East tensions escalate
Wall Street closed lower as Middle East tensions and rising oil prices triggered inflation concerns and profit booking. Financials and tech stocks led declines, though chipmakers stayed resilient on AI optimism. Strong services data and steady labor conditions contrasted with geopolitical risks, while expectations for a potential Fed rate hike continued to climb.
OECD sees India growth slowing to 6.3% from 7.6% in FY27
India’s economy faces a slowdown to 6.3% in fiscal 2027. Higher energy costs from the Middle East conflict will impact investment and exports. Despite this, India remains a top global growth engine. Private consumption and investment are expected to moderate. Inflation will rise before easing. Global growth also slows.
Thali costs climb in May: Crisil report
Home-cooked vegetarian and non-vegetarian thalis saw a 5% and 7% price increase in May, respectively, due to rising costs of tomatoes, vegetable oils, and LPG. Tomato prices surged 57% year-on-year, with further increases expected due to production declines and heat-related concerns. Potato and onion prices are also anticipated to rise, while pulses are expected to […]
We expect interest rates to be left the way they are: Ficci chief Anant Goenka
Ficci president Anant Goenka advocates for steady interest rates, citing supply-side price pressures from the West Asia crisis. He suggests restricting rupee intervention to volatility management and believes foreign capital will return after market corrections, while emphasizing proactive engagement with FTAs and focus on sunrise sectors for manufacturing.
Norms issued to estimate District Domestic Product
New uniform guidelines for estimating district domestic product have been released by the statistics ministry, aiming for standardized indicators and bottom-up data collection. This move, aligning with the revised 2022-23 national GDP base year, will enhance decentralized planning and evidence-based policy formulation across all key economic sectors at the district level.
ADB, StanChart ink partnership to support Indian firms across supply chains
The Asian Development Bank and Standard Chartered Bank have partnered to boost supply chain finance in India. Agreements include risk-sharing for USD transactions via GIFT City and a guarantee facility for rupee transactions, aiming to expand access for businesses and enhance trade flows.
Rajesh Exports: Sebi finds 97-99% revenue inflation, bars promoter from trading
Rajesh Exports and promoter Rajesh Mehta face regulatory action after Sebi alleged large-scale financial misrepresentation and possible revenue inflation of 97-99%. The regulator has barred Mehta from trading in company securities and ordered a fresh forensic audit.
RBI likely to hold rates as West Asia crisis impact on growth remains unclear: Bank of Baroda Report
The Reserve Bank of India is expected to hold interest rates steady on Friday, according to Bank of Baroda. The central bank will likely maintain a data-dependent approach, balancing growth concerns with rising inflation risks. An upward revision in inflation forecasts is anticipated due to increased fuel prices and ongoing global uncertainties.
Vodafone Idea shares rally 7% to fresh 52-week high despite market crash. What’s behind the surge?
Vodafone Idea shares surged nearly 7% to a new 52-week high after ICRA upgraded the telecom operator’s rating and revised its outlook. Investor sentiment was further boosted by lower AGR dues, promoter support from the Aditya Birla Group and Citi removing its ‘High Risk’ tag while maintaining a bullish outlook.
Market correction nearing its end; bet on banking, pharma: Rohit Srivastava
Market correction may be nearing its end, with Nifty approaching a key support zone around 23,077. Banking, energy, and metals sectors show strength, while pharma is poised for a long-term breakout. Investors are advised patience as the market potentially turns upwards.