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397 stories mentioning BSE SensexUpdated 1d ago

Trading amid India's rising May trade flows and projections of large REIT/InvIT inflows by 2030; imports rose 19% and exports 15.8%.

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Asia

Market Chatter: US, Iran Reach Tentative 60-Day Ceasefire Extension

The U.S. and Iran have tentatively agreed to extend a ceasefire for two months while initiating new negotiations over Tehran's nuclear program, fueling optimism that the ongoing three-month conflict may soon end, Bloomberg News reported on Thursday, citing a source familiar with the discussions.The anonymous source confirmed a prior Axios report, though President Donald Trump has not yet signed off on the terms, the newswire said.While both sides have previously celebrated progress and Trump has often claimed a deal was imminent, the impasse has repeatedly persisted, the publication said.Vice President JD Vance told reporters that the two nations are exchanging proposals on specific language regarding Iran's nuclear capabilities, and noted that Iran appears to be engaging in good faith, with tangible progress underway, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Indian Equities Fall Marginally Amid Wobbly US-Iran Peace Talks

Indian benchmarks ended on a flat note on Wednesday as investors turned cautious amid mixed signals coming from the U.S.-Iran talks.Washington and Tehran have been in negotiations to end the war, but recent attacks from the U.S. are now complicating peace efforts.Iran said the U.S. had breached a ceasefire by striking targets ⁠near the Strait of Hormuz. In response, the U.S. claimed the strikes were an act of self-defense.At close, BSE Sensex slipped 141.89 points, or 0.2%, to 75,867.81, while Nifty 50 fell marginally to 23,907.15.In corporate news, shares of Gillette India (NSE:GILLETTE, BOM:507815) jumped 6% after reporting its profit rose to 1.93 billion Indian rupees in the fiscal fourth quarter ended March 31 from 1.59 billion rupees a year ago.Meanwhile, shares of Goldiam International (NSE:GOLDIAM, BOM:526729) rose marginally after announcing its consolidated net profit climbed to 393.9 million Indian rupees in the fiscal fourth quarter from 270.2 million rupees a year ago.

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Asia

Market Chatter: India's GIFT City Draws Investors Seeking Global Equities

India's Gujarat International Finance Tec-City (GIFT City) is attracting investors seeking global equities with its relaxed limits, Nikkei Asia reported Wednesday.GIFT City is exempt from India's $7 billion industry-wide cap on combined overseas investments of all mutual funds, the report said.The limit for funds outside GIFT City has been reached, forcing the investment arms of global funds like Schroders, J.P. Morgan, or HSBC to stop accepting fresh subscriptions. Therefore, they are turning to Gujarat's financial hub to push their funds, the report said.A country-agnostic equity fund launched in GIFT City by DSP Asset Managers garnered nearly $30 million in subscriptions since its launch in June 2025 and expects inflows to cross $200 million in a couple of years, according to the report."It's not country specific but sector specific, with investors focusing on themes like AI, semiconductors and cloud computing," Nikkei quoted Jay Kothari, DSP's head of international business and lead investment strategist, as saying.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Market Chatter: Taiwan Stock Market Surpasses India to Become World's Fifth-Largest

Taiwan has overtaken India in total stock market value, becoming the world's fifth-largest equity market, Bloomberg News reported Tuesday.Taiwan's market capitalization reached $4.95 trillion on Monday, slightly ahead of India's $4.92 trillion, according to Bloomberg data. Only the United States, China, Japan and Hong Kong now rank ahead of Taiwan globally.The gains were driven largely by Taiwan Semiconductor Manufacturing (TPE:2330), whose shares have surged 49% this year amid strong demand tied to the artificial intelligence boom. The chipmaker now accounts for about 42% of Taiwan's benchmark TAIEX index, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia Markets

Indian Equities Fall as Rising Oil Prices and Global Uncertainty Weigh on Sentiment

Indian benchmark indices closed lower on Tuesday, snapping a two-session winning streak, as weak global cues and a rise in crude oil prices triggered profit booking.The BSE Sensex declined 479.26 points, or 0.6%, to close at 76,009.70, while the NSE Nifty 50 fell 118.00 points, or 0.5%, to settle at 23,913.70.Market sentiment remained cautious after U.S. strikes on Iran reduced expectations of a near-term peace agreement. Reports of military activity in southern Iran pushed crude oil prices higher and added pressure on the Indian rupee.In earnings news, Marksans Pharma (NSE:MARKSANS, BOM:524404) surged 16% after fiscal fourth-quarter consolidated net profit rose to 1.48 billion rupees from 905.5 million rupees a year earlier. Revenue from operations increased to 8.56 billion rupees from 7.08 billion rupees.Adani Green Energy (NSE:ADANIGREEN, BOM:541450) gained over 3% after the company said its step-down subsidiaries operationalized battery energy storage system projects and a solar energy project in Gujarat, India.

^BSENifty 50BOM:524404BOM:541450NSE:ADANIGREENNSE:MARKSANS
International

Indian Government Proposes Changes to Industrial Output Index to Expand Coverage

The Indian government is set to implement changes to the Index of Industrial Production (IIP), aimed at wider sectoral coverage, a revamped item basket, chain-linked indices, and methodological improvements to better capture the data, according to a statement on Monday.The proposed changes are part of the new IIP series with base year 2022-23, recommended by the Technical Advisory Committee on Base Year Revision of the All-India Index of Industrial Production (TAC-IIP), constituted by the Ministry of Statistics and Programme Implementation (MoSPI) in September 2024.The panel has recommended adopting a chain-linked approach alongside the fixed-base IIP framework, in a major shift in methodology. It said annual updating of weights would reduce substitution bias and better capture structural changes in industrial production."By incorporating recent information into the weighting structure, the chain-based method improves the accuracy and relevance of the index and provides a more realistic measure of industrial growth," the panel said.The panel has also proposed expanding the scope of the industrial output index to include minor minerals, rare earth minerals, gas supply, water supply, sewerage, and waste management activities.The new series also introduces greater granularity through sub-indices, including separate indices for electricity generated from renewable and non-renewable sources.The TAC-IIP recommended revising the IIP base year from 2011-12 to 2022-23 to align it with other macroeconomic indicators such as gross domestic product, consumer price index, and wholesale price index.The revised series will have an updated item basket comprising 1,042 products mapped to 463 item groups, in aligment with with the National Industrial Classification.The report pointed out that regular revisions of the base years of economic indicators like IIP are "essential to ensure that they remain representative of current industrial activity and continue to accurately reflect evolving economic realities".The first release of the revised IIP series is scheduled for June 1 and will provide index values from April 2023 onwards, including the quick estimates for April.

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Asia

Indian Equities Rally on Monday as Falling Oil Prices Boost Risk Appetite

Indian benchmark indices surged on Monday, gaining more than 1%, as a sharp decline in crude oil prices improved investor sentiment and triggered broad-based buying across sectors.The BSE Sensex climbed 1,073.61 points, or 1.4%, to close at 76,488.96, while the NSE Nifty 50 advanced 312.40 points, or 1.3%, to settle at 24,031.70.Market sentiment strengthened after Brent crude prices dropped more than 5% to trade below $98 per barrel amid growing optimism over a possible agreement between the U.S. and Iran. The decline in oil prices supported risk appetite across segments.Among individual stocks, Blue Jet Healthcare (NSE:BLUEJET, BOM:544009) jumped nearly 10% despite reporting a decline in fiscal fourth-quarter consolidated profit to 643.4 million rupees from 1.10 billion rupees a year earlier. Revenue from operations also fell to 2.35 billion rupees from 3.40 billion rupees.Cyient (NSE:CYIENT, BOM:532175) rose nearly 2% after announcing that its subsidiary Cyient Semiconductors will raise up to $30 million from funds managed by EAAA India Alternatives and affiliated co-investors. The transaction includes equity investment and structured debt funding.

^BSENifty 50BOM:532175BOM:544009NSE:BLUEJETNSE:CYIENT
International

Asia Week Ahead: Policy Rate Decisions, Inflation Prints and GDP Reports

Asia's economic calendar this week features a mix of inflation data, interest rate decisions, GDP releases and industrial figures across the region.The week opens with Singapore's GDP and inflation data, plus Thailand's trade figures, followed on Tuesday by Taiwan's industrial production and retail sales reports.Mid-week, attention turns to the Reserve Bank of New Zealand's policy decision and Australia's inflation print. On Thursday, the Bank of Korea will announce its rate decision, while Hong Kong releases trade data and India reports industrial and manufacturing output figures.Friday will be the busiest day for macro releases, led by a batch of key indicators from Japan. The week wraps up with China's PMI readings on Sunday.Here's what to watch in the week ahead.MONDAY, May 25Singapore's economy grew 6.0% year over year in the first quarter, government data showed, beating the 4.6% flash estimate and accelerating from the 5.7% growth in Q4.The expansion was driven by strong performances in the wholesale trade, manufacturing, and finance and insurance sectors.Meanwhile, the city-state's annual inflation rate held steady at 1.8% in April, unchanged from March but below market expectations of 2%.Core inflation, on the other hand, eased to 1.4% in April from 1.7% a month prior.In Thailand, exports surged 23.1% year over year to $31.6 billion in April, accelerating from an 18.7% increase in March and beating forecasts of 16.2%.Imports likewise strengthened, expanding 45% in April to $41.6 billion, compared with a rise of 35.7% a month prior.As a result, the trade deficit ballooned to $10.02 billion in April from $3.3 billion a year earlier, far above forecasts of a $5.1 billion shortfall.TUESDAY, May 26Singapore will release its April industrial production data, while Taiwan is due to report both industrial production and retail sales figures for the month.WEDNESDAY, May 27New Zealand's central bank will hold its policy meeting, with analysts expecting no change to the country's official cash rate of 2.25%, according to a Trading Economics consensus.Australia is set to release inflation figures on the same day. Consumer prices rose 4.6% year on year in March, the fastest pace since September 2023, and are expected to accelerate to 5.1% in April as oil prices climb amid the Middle East conflict.Meanwhile, China will report its industrial profits for April. A pair of confidence reports covering business and consumer sentiment will be due in South Korea and Taiwan, respectively.THURSDAY, May 28The Bank of Korea is set to meet for its policy rate decision, with markets watching for any change to its current 2.5% benchmark rate amid inflation and growth pressures linked to the ongoing conflict in the Middle East.Hong Kong will release its monthly trade figures. The April reading could show a narrowing of the trade deficit to HK$46 billion from HK$89.1 billion in March, Trading Economics forecasted.Meanwhile, India will report its industrial and manufacturing production data for April.Markets will also watch New Zealand's ANZ Business Confidence report for May, after the index dropped to -10.6 in April -- its first negative reading since August 2023 -- as the Middle East conflict weighed on sentiment.FRIDAY, May 29Japan's usual end-of-month data deluge, which includes the release of inflation, unemployment rate, industrial production and retail sales, will provide insights into the country's economic health.Markets will also watch Taiwan's final Q1 GDP growth figures for any revision from the preliminary estimate, which showed the economy expanding by 13.7%.Other highlights include trade balance figures from Macau and the Philippines, and export and import price data from Singapore.Both South Korea and Thailand will report their monthly industrial production and retail sales stats, while Macau will report its unemployment rate for April.Lastly, a report capturing business confidence in April will be due in the Philippines.SUNDAY, May 31China, the biggest economy in Asia, will release its official May PMI data covering manufacturing, non-manufacturing and general activity.

ASX 200^BSEHang SengKOSPINikkei 225^NSE^NZ50^PSEI^SETShanghai Composite^STI^SZSETaiwan Weighted
Asia

Market Chatter: Indian Retailers Raise Fuel Prices for the Third Time in May as Global Prices Remain High

As the global crude oil prices remain high, Indian state-owned fuel retailers have raised petrol and diesel prices for the third time this month, according to a Reuters report on Saturday, quoting local dealers.After the first price increase in four years on May 15, the price of fuel ​has been hiked by around 5 rupees, as the Iran war has disrupted global oil supply, the report said.State-run Indian Oil Corporation (NSE:IOC, BOM:530965), Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104) and Bharat Petroleum Corporation (NSE:BPCL, BOM:500547), together control more than 90% of the country's over 103,000 fuel stations.They usually fix the rates of diesel and petrol in line with each other, and until recently, had not raised gasoline and diesel prices since April 2022.As per the report, the Indian oil ministry has said that the government currently has no plans to provide financial support for refiners.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^BSENifty 50BOM:500104BOM:500547BOM:530965NSE:BPCLNSE:HINDPETRONSE:IOC
Asia

Indian Equities End Higher on Friday as Banking Stocks Lift Sentiment

Indian benchmark indices closed higher on Friday, supported by gains in heavyweight banking stocks.The BSE Sensex rose 231.99 points, or 0.3%, to close at 75,415.35, while the NSE Nifty 50 gained 64.60 points, or also 0.3%, to settle at 23,719.30.Investor sentiment remained mixed as Brent crude oil prices climbed more than 2% to trade above $105 per barrel amid continued uncertainty over a potential U.S.-Iran agreement.Meanwhile, the Indian rupee extended its recovery against the U.S. dollar, strengthening to 95.7 after touching a record low of 96.96 earlier in the month. Market participants continued to track intervention measures by the Reserve Bank of India aimed at stabilizing the currency.In earnings news, Minda Corp. (NSE:MINDACORP, BOM:538962) surged nearly 8% after fiscal fourth-quarter consolidated profit rose sharply to 1.25 billion rupees from 520.3 million rupees a year earlier.Sun Pharmaceutical Industries (NSE:SUNPHARMA, BOM:524715) declined over 2% despite reporting a higher fiscal fourth-quarter consolidated net profit of 27.1 billion rupees, compared with 21.5 billion rupees a year ago.Suzlon Energy (NSE:SUZLON, BOM:532667) gained nearly 2% after receiving a repeat 195 MW order from Sunsure Energy for a project in Karnataka, the company said in an exchange filing on Friday.

^BSENifty 50BOM:524715BOM:532667BOM:538962NSE:MINDACORPNSE:SUNPHARMANSE:SUZLON
International

Market Chatter: RBI Not Keen on Interest Rate Hike to Help Weak Indian Rupee

The Reserve Bank of India is not in favor of raising the interest rates to take the weakening Indian rupee, according to a Reuters report on Friday, quoting sources.The central bank is reinforcing that inflation will guide its policy on interest rates, rather than currency. It could adopt other measures, including dollar deposit schemes for non-resident Indians and tax changes for debt investors, the report said."There doesn't seem to be an urgent need for the central bank to jump into rate hikes," said one of the sources cited in the ​report.India's rupee ​has fallen nearly 6% to a record low of nearly 96.96 rupees per dollar on Thursday, since the Iran war began late in February.The RBI's Monetary Policy Commission, which will next meet on June 5 to decide on the interest rates, held consultations with economists on Thursday, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Indian Equities End Flat on Wednesday as Profit Booking Erases Early Gains

Indian benchmark indices closed largely unchanged on Thursday after surrendering most of their early advances, as profit booking at higher levels capped gains despite positive opening momentum.The BSE Sensex fell 135.03 points, or 0.2%, to close at 75,183.36, while the NSE Nifty 50 slipped 4.30 points, or 0.02%, to settle at 23,654.70.Markets opened sharply higher and extended gains in early trade, supported by heavyweight stocks. However, sentiment turned cautious through the session amid persistent foreign fund outflows and continued weakness in the Indian rupee.In economic data news, the HSBC Flash India Composite Output Index eased to 58.1 in May from 58.2 in April, reflecting a moderation in growth across manufacturing and services activity.In corporate developments, JSW Cement (NSE:JSWCEMENT, BOM:544480) surged nearly 6% after fiscal fourth-quarter consolidated profit climbed to 3.71 billion rupees from 342.2 million rupees a year earlier.Adani Ports and Special Economic Zone (NSE:ADANIPORTS, BOM:532921) gained over 1% after agreeing to acquire Jaypee Fertilizers & Industries for 15 billion rupees as part of the resolution process for Jaiprakash Associates (NSE:JPASSOCIAT, BOM:532532).

^BSENifty 50BOM:532532BOM:532921BOM:544480NSE:ADANIPORTSNSE:JPASSOCIATNSE:JSWCEMENT
India Private-Sector Extends Robust Expansion in May: PMI Report
US Markets

India Private-Sector Extends Robust Expansion in May: PMI Report

Despite Middle East turmoils, rising crude prices and tempered exports, India's private-sector sustained a robust expansion in May, in both its factory and service sectors, reported S&P Global on Thursday.India's flash composite purchasing managers index (PMI), a combination of the nation's manufacturing and service sectors, logged at 58.1 in May, off marginally from 58.2 in April, but still striking well above the 50-mark that separates growth from contraction, reported S&P Global, citing its monthly survey.Although some new business orders waned modestly, the May PMI results "signaled another marked expansion in private sector activity," said S&P Global. India's composite PMI has registered in positive territory since the end of the pandemic era, in 2022.India's flash manufacturing PMI declined to 54.3 in May from 54.7 in April, while the flash manufacturing PMI output index slipped to 56.6 from 56.9.While both manufacturing PMIs pointed to expansion, the May results were among the weakest sector reports in nearly four years, said S&P Global.In contrast, India's flash PMI for services posted at 58.9 in May, inching up from 58.8 in April and indicating a "pick up in growth" in that sector, added the business research outfit.India's private sector managers did report rising cost of operation in May, and felt unable at times to boost prices to compensate, due to competitive pressures."Survey participants reported higher (input) prices for energy, food, fuel, gas, iron, leather, oil, plastics, rubber, steel and transportation," said S&P Global. "Although Indian companies tried to cover increases in cost burdens by lifting selling prices, they did so with a greater degree of caution."India's sales in global markets were higher, but decelerating in May. "There was a notably softer expansion in new export ordersacross India's private sector economy in May, the weakest in19 months," said S&P Global.Despite challenges, "business confidence remained strongly positive in May, with the overall level of positive sentiment remaining above its long-run average despite retreating to a three-month low," added S&P Global.The flash India PMI was compiled by S&P Global from surveys received from 400 manufacturers and 400 service providers from May 8 through May 18.

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International

India's Private Sector Growth Slips in May

India's private sector growth lost its momentum slightly in May on weaker increases in total new orders, international sales, employment, and business activity.The HSBC Flash India Composite Output Index, which comprises indices for the manufacturing and service sectors, slipped to 58.1 in May from 58.2 in the preceding month, according to HSBC Flash PMI data released on Thursday.The seasonally adjusted index, which tracks month-on-month output across manufacturing and services, remained comfortably above the 50.0 threshold, indicating expansion."After retreating in April, input price inflation ticked higher, but firms limited the pass-through of additional cost burdens to clients by lifting output charges to a lesser extent," S&P said, adding that service providers outperformed manufacturers and experienced softer inflationary pressures.As per the data, the pace of expansion by manufacturers was the second-weakest in close to four years, weighed down by competitive pressures, challenging demand conditions, disruptions to travel, and the ongoing war in the Middle East.Cost pressures intensified, with input prices rising at the sharpest rate since July 2022.Growth in export orders saw the weakest growth in 19 months in May.The HSBC Flash India Manufacturing PMI was down to 54.3 in May from 54.7 in April, its second weakest improvement in the health of the sector in close to four years.The HSBC Flash India Services PMI Business Activity Index also rose marginally to 58.9 in May compared with 58.8 in April.

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Asia

Indian Equities Edge Higher on Wednesday Amid Oil, Currency Concerns

Indian benchmark indices closed modestly higher on Wednesday, although markets remained range-bound for a fourth consecutive session as elevated crude oil prices and currency weakness continued to limit investor appetite.The BSE Sensex gained 117.54 points, or 0.2%, to close at 75,318.39, while the NSE Nifty 50 rose 41.00 points, or also 0.2%, to settle at 23,659.00.Investor sentiment stayed cautious amid a lack of progress in U.S.-Iran negotiations, which kept concerns over global oil supply and energy prices in focus. The continued weakness in the Indian rupee also added to market uncertainty.In corporate developments, Tata Communications (NSE:TATACOMM, BOM:500483) surged 8% after appointing Ganesh Lakshminarayanan as managing director and chief executive officer, effective Wednesday.JSW Energy (NSE:JSWENERGY, BOM:533148) rose nearly 1% after reporting increase in fiscal fourth-quarter consolidated profit to 22.4 billion rupees from 19.5 billion rupees a year earlier. Revenue from operations increased to 189.0 billion rupees from 117.5 billion rupees.

^BSENifty 50BOM:500483BOM:533148NSE:JSWENERGYNSE:TATACOMM
International

Fitch Sees Manageable Risk in APAC Insurer Private Credit Exposure

Fitch Ratings says private credit exposure among major rated Asia-Pacific insurers remains broadly contained, with allocations still below 5% of total assets or around 10% of equity capital, including contractual service margin, in 2025.While positions have climbed over the past two to three years, Fitch said the shift has not materially altered overall portfolio risk profiles.The agency noted insurers are relying on tighter safeguards, including diversification across managers, borrowers, sectors and regions, alongside conservative sector choices and limits on leverage. Portfolios are mainly focused on senior secured and asset-backed loans, with regular checks on valuations, credit changes and recoveries due to the illiquid nature of the asset class.Fitch added that regulatory reforms and accounting changes, including risk-based capital frameworks and IFRS 17 and IFRS 9, have supported the allocation trend by improving capital efficiency.

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Asia

Market Chatter: India Poised to Send Oil Tankers to Secure Energy Supply Through Hormuz

India is said to be getting ready to send ships through the Strait of Hormuz to pick up energy suppliers in the Middle East, according to a Bloomberg report on Wednesday quoting sources.This will be the first time the Asian nation has done so since the start of the Iranian crisis, the report said.The sources said plans for the shipments are ready, and ships will begin trying to cross the strait as soon as the government approves. The volumes involved or the timing of the shipments were not disclosed.State-owned Shipping Corp. of India (NSE:SCI, BOM:523598) is prepared to return to the Persian Gulf after receiving approval from the Indian Navy and receiving business from oil refiners, the report said.The report further added that it was not clear if India had a go-ahead for the shipments from Iran or the U.S., which are separately blockading the strait and surrounding waters amid the war.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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International

Market Chatter: Indian Airlines Seek Delay in Aviation Fuel Price Hike

Major Indian airlines have asked state-run oil refiners to halt jet fuel price increases for domestic flights until the Middle East conflict eases, Bloomberg News reported Wednesday, citing people familiar with the matter.The proposal was floated by domestic airlines, including Air India, IndiGo (NSE:INDIGO, BOM:539448), and SpiceJet (BOM:500285), the report said.They reportedly warned the government that raising fuel prices could lead to flight suspensions and broader business disruptions.State-owned refiners, including Indian Oil Corporation (NSE:IOC, BOM:530965), Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104), and Bharat Petroleum Corporation (NSE:BPCL, BOM:500547) are currently considering the proposal, according to the report.India's Ministry of Petroleum and Natural Gas has joined the discussions and may intervene directly, as it did in Aprl and May, the report added.Aviation fuel in India is deregulated and is fixed by the country's main oil marketing companies, which revise the prices each month.However, in April, to lessen the impact of the surge in global oil prices, the Indian government capped the most recent jet fuel price hike to 25% and asked the oil companies to keep them constant in May, Bloomberg added.A decision on the airlines' proposal is expected before June 1, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

^BSENifty 50BOM:500104BOM:500285BOM:500547BOM:530965BOM:539448NSE:BPCLNSE:HINDPETRONSE:INDIGONSE:IOC
International

Market Chatter: India Mulls $1 Billion Incentives to Boost Adoption of Electric Trucks, Buses Amid Soaring Fuel Prices

India is evaluating incentives worth over $1 billion to incentivize the adoption of electric buses and trucks by the private sector, Bloomberg News reported Wednesday, citing people familiar with the matter.The schemes targeted at the privately-owned commercial vehicle fleets will be rolled out over the next 10 years, with a large focus on inter-city bus operators, the report said.Industry stakeholders are expected to have meetings with the Prime Minister's Office this month to work on the proposals. The sources cited in the report said the final budget allocation, vehicles eligible for incentives, and subsidy structure are still being worked out.India imports nearly 90% of its crude oil needs, making it vulnerable to recent geopolitical tensions, Bloomberg said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Asia

Indian Equities End Lower on Tuesday as Global Uncertainty Weigh on Sentiment

Indian benchmark indices closed in the negative territory on Tuesday as investors stayed cautious amid mixed global cues and renewed uncertainty around geopolitical tensions in the Middle East.The BSE Sensex fell 114.19 points, or 0.2%, to close at 75,200.85, while the NSE Nifty 50 declined 31.95 points, or 0.1%, to settle at 23,618.00.Market sentiment remained subdued as concerns over the U.S.-Iran conflict, elevated crude oil prices, and persistent weakness in the Indian rupee continued to pressure risk appetite.In earnings news, RITES (NSE:RITES, BOM:541556) slipped over 1% after reporting a marginal decline in fiscal fourth-quarter consolidated profit to 1.30 billion rupees from 1.33 billion rupees a year earlier.Eureka Forbes (NSE:EUREKAFORB, BOM:543482) also declined over 1% despite posting a higher quarterly profit of 510.3 million rupees compared to 495 million rupees last year.In other corporate developments, Bharat Forge (NSE:BHARATFORG, BOM:500493) ended lower by around 2% after its aerospace division signed an MoU with the Andhra Pradesh government to establish a marine gas turbine repair, overhaul, and development facility in Visakhapatnam.

^BSENifty 50BOM:500493BOM:541556BOM:543482NSE:BHARATFORGNSE:EUREKAFORBNSE:RITES

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