Investors pull out $20.3 billion from global equity funds
In a dramatic shift, global equity funds experienced a staggering exit of billions as investors reacted to rising inflation fears and escalating tensions in the Middle East. This selloff marked the most significant retreat in three months, prompting major central banks to hint at tightening their monetary policies.
FPIs still in exit mode, dump record chunk of financial services
In a striking turn of events, early March witnessed foreign investors withdrawing an unprecedented sum from India’s financial landscape. This wave of selling, spurred by mounting global economic unease, has had ripple effects on the Bank Nifty, while sectors such as automobiles and telecom also faced significant capital outflows. This trend underscores a growing wariness […]
D-St breathes easy for a day as crude bucks rising trend
The Indian stock markets experienced a positive turn on Friday, bouncing back from a sharp drop earlier in the week, buoyed by decreasing oil prices that eased investor anxiety. Nevertheless, both top indices wrapped up the week just below their starting points. Foreign investors took a step back, selling off shares, while domestic buyers remained […]
Rupee on shaky ground touches fresh low of 93.73
In a dramatic turn of events, the Indian Rupee plunged sharply in a single trading session, marking its most significant drop since late 2022. This decline was fueled by soaring oil prices amid growing tensions in West Asia, pushing the currency to a new record low.
Euro FX settlement in works at GIFT City
India’s financial hub is looking to introduce real-time euro foreign-exchange settlements. This move aims to boost financial ties with the European Union as a trade deal progresses. The regulatory body, IFSCA, has requested government approval for euro settlements alongside the US dollar. This follows the successful implementation of real-time dollar settlements, which significantly reduced transaction […]
JPMorgan settles Sebi case, pays Rs 34 lakh
JP Morgan Chase Bank has agreed to pay 34 lakh rupees to Sebi following violations related to foreign portfolio investor laws. Their missteps include issuing FPI licenses to firms lacking proper UK registration and not accurately verifying the status of certain entities. Compounding these issues were significant delays in merger reporting, which further illuminated the […]
Eternal shares jump 3% from lows as Zomato hikes platform fee by Rs 2.4 per order
Eternal shares surged 3% after Zomato increased its platform fee by Rs 2.40 per order, bringing it in line with rival Swiggy. This move follows a significant correction in Eternal’s stock, which has underperformed broader indices over the past six months.
Rupee weakness likely to persist as oil prices stay elevated: Anindya Banerjee
The Indian rupee is at a critical point, falling past 93 against the US dollar. Crude oil prices and foreign investor outflows are pressuring the currency. Geopolitical risks, especially concerning the Strait of Hormuz, are a major factor. The Reserve Bank of India is intervening to manage volatility. The rupee’s future direction depends on easing […]
Tata Power shares jump 5% after Gujarat govt approves supply agreement for Mundra plant
Tata Power share price surged after Gujarat approved a new power supply deal. This allows the company to restart its 4-gigawatt Mundra plant. The agreement aims to boost power output amid potential summer gas shortages. It requires federal approval and takes effect from April 2025. Tariffs will align with other states. This development offers relief […]
Rs 1 lakh crore wiped off! Bajaj Finance shares tumble 18% in March so far amid raging Iran-US war
Bajaj Finance shares have plunged over 20% in a month, eroding more than Rs 1 lakh crore in market value amid escalating Iran-US tensions. Rising oil prices, inflation concerns and macroeconomic risks flagged by Moody’s have weighed on sentiment, dragging financial stocks lower and keeping investors cautious amid ongoing geopolitical uncertainty.