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287 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%.

International

RBI Minutes Show Consensus on Neutral Policy Stance

The Reserve Bank of India (RBI) released the minutes of its latest Monetary Policy Committee (MPC) meeting Friday, revealing consensus among members regarding the future path of interest rates and the central bank's policy stance.At the meeting held from June 3 to June 5, the MPC voted 6-0 to maintain the policy repo rate at 5.25% and also voted to keep the stance neutral.According to the minutes, Governor Sanjay Malhotra emphasized that India's economic situation is healthy compared with many peers, with a fast growing economy and benign inflation.Many MPC members shared concerns over the impact of the prolonged West Asia conflict on the global economy, with Nagesh Kumar, in particular, stating that the conflict is an important shock for India's economic outlook in the near term.

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Asia

National Stock Exchange of India Files Draft Papers for IPO

The National Stock Exchange of India has initiated the process of its public listing by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) on Wednesday, according to the filing made the same day.The IPO consists entirely of an offer for sale, with existing shareholders collectively divesting 148.9 million equity shares, or around 6% stake in the exchange. The shares are proposed to be listed on the other Indian stock exchange, BSE.The selling shareholders include the largest seller, State Bank of India (NSE:SBIN, BOM:50011), offering up to 24.75 million shares. Others include MS Strategic (Mauritius), which will divest up to 16 million shares, while Canada Pension Plan Investment Board has offered up to 11.9 million shares in OFS.The offer price and timing of the IPO will be detailed at a later date.

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International

Market Chatter: US, India 'Very Close' to Trade Agreement

President Donald Trump said the U.S. was "very close" to finalizing the proposed bilateral trade deal with India, Asian News International reported Thursday.The trade agreement was part of negotiations between Trump and Indian Prime Minister Narendra Modi on the sidelines of the G7 summit in France on Wednesday, the report said.U.S. Trade Representative Jamieson Greer will visit India next week to finalize the deal's framework, the report said, citing Indian commerce secretary Rajesh Agrawal's earlier statement.(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

UK-India Free Trade Agreement to Take Effect from July 15

The Comprehensive Economic and Trade Agreement (CETA) between India and the United Kingdom, which was signed last year, will come into effect on July 15, according to official statements from both sides released on Wednesday.Under the pact, the UK will provide zero-duty access to 99% of Indian products, while India has agreed to remove or reduce tariffs on 90% tariff lines, which will cover 92% of existing goods imports from the UK.The deal is expected to boost the UK's gross domestic product by 4.8 billion pounds sterling, real wages by 2.2 billion pounds, and bilateral trade by 25.5 billion pounds sterling every year in the long run.The two parties worked out the contentious issue of steel exports. India has secured protection for the majority of its steel exports to the UK under the agreement, with 85% of outbound shipments kept outside Britain's upcoming steel safeguard measures.For Indian consumers, the deal will make whisky cheaper with tariffs cut from 150% to 40%, automobiles from 100% to 10% under a quota, and cosmetics will see tariffs of up to 22% eliminated either from day one or after 10 years.The British government said businesses had 28 days to register in order to get the benefit of tariff reductions.

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Asia

US, Iran Sign Ceasefire Deal, Agreeing to Reopen Strait of Hormuz, Pakistan PM Says

The United States and Iran formally signed a landmark ceasefire agreement on Wednesday, with Pakistani Prime Minister Shehbaz Sharif confirming on X that the accord had been electronically signed by the presidents of both nations.Sharif, who served as mediator, said the deal carries immediate effect, with Iran pledging to reopen the Strait of Hormuz and Washington committing to lift its naval blockade as the first steps under the agreement.Trump confirmed the signing of the agreement, telling reporters outside the Palace of Versailles in France, "I signed it in Versailles... Just signed it," according to multiple reports, including from the AFP.

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Asia

Indian Civic Body BMC Extends Deadline to Select Merchant Bankers for Bond Issue

India's Brihanmumbai Municipal Corp. (BMC) has extended the deadline for market players to submit proposals to select merchant bankers for its upcoming municipal bond offering to June 19 from June 15, according to a recent corrigendum to the tender on the Maharashtra government's website.BMC, which is seen as India's richest civic authority, had floated a tender on May 22 to appoint a lead manager for the bond issue, aimed at raising up to 95 billion Indian rupees through bonds in one or more tranches.News reports earlier this month said 13 banks and financial institutions had submitted bids to act as merchant bankers for the proposed fundraising exercise.Bids will be opened on June 22 instead of June 16.

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Asia

Market Chatter: India Silver Imports Fall 87% in May After Import Curbs Tightened

India's silver imports fell sharply in May after the government tightened restrictions on inbound shipments, with volumes hitting lowest level in over three years, Reuters reported Monday, citing Ministry of Commerce and Industry data.Silver imports plummeted 87% to $75.57 million from $566.22 million a year earlier, while volumes plunged 94% year on year to 33 metric tons, government data reportedly showed.India introduced curbs in mid-May covering nearly all forms of silver and later expanded restrictions to include silver grain and powder, requiring prior authorization for shipments, Reuters noted.The government has also reportedly increased import duties on silver and gold to 15% from 6% to reduce precious metals inflows and ease pressure on foreign exchange reserves.The country spent a record $12 billion on silver imports in fiscal 2025-26, compared with $4.8 billion last year.(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: Sify Infinit Spaces Defers INR37 Billion IPO Amid Weak Market Conditions

Sify Infinit Spaces has put its planned 37 billion Indian rupee initial public offering on hold amid weak stock market conditions, Bloomberg reported Tuesday, citing people familiar with the matter.The India-based data center operator was reportedly targeting a valuation of up to $4.2 billion in the proposed share sale.The company may revisit the initial public offering when market conditions improve, the people told Bloomberg.(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 Extend Rally on Thursday as Peace Deal Optimism Supports Risk Appetite

Indian benchmark indices ended higher on Tuesday, extending gains for a third straight session as improving global sentiment and lower crude oil prices continued to support buying across sectors.The BSE Sensex rose 544.15 points, or 0.7%, to close at 76,808.48, while the NSE Nifty 50 gained 135.25 points, or 0.6%, to settle at 23,989.15.The proposed U.S.-Iran peace agreement lifted sentiment across markets as easing energy supply concerns pushed crude oil prices lower. Investors are now awaiting the formal signing of the deal, which is expected to bring an end to the conflict in the Gulf region.In corporate developments, Tata Consultancy Services (NSE:TCS, BOM:532540) said it expects to record an additional one-time charge of $70 million in the first quarter of fiscal 2027 related to its ongoing legal dispute with DXC Technology. The disclosure follows the U.S. Supreme Court's decision not to review the case.Bharti Airtel (NSE:BHARTIARTL, BOM:532454) incorporated a wholly owned subsidiary, Airtel Global IFSC, in Gujarat International Finance Tec-City. The new entity will operate as a finance company focused on global corporate treasury activities and other permitted services.

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Asia

Market Chatter: Advit Jewels Sets Price Band for Upcoming IPO, Issue Opens June 23

Advit Jewels has set price band for its upcoming initial public offering at 130 rupees to 138 rupees per share, Mint reported Monday.At the upper end of the band, the company plans to raise up to 1.65 billion rupees, the report said.The issue will open for subscription on June 23 and close on June 25, according to a company document filed with Securities and Exchange Board of India last week.The Jaipur-based jewelery company's IPO is entirely a fresh issue of 11.9 million shares, with no offer-for-sale component, the document said.Investors can bid in lots of 100 shares, Mint noted.The company plans to use 650 million rupees from the proceeds for working capital needs and another 65 million rupees for repayment or prepayment of borrowings, the report said. The rest will be used for general corporate purposes, it added.The issue allocation includes up to 50% for qualified institutional buyers, at least 15% for non-institutional investors and a minimum 35% for retail individual bidders, Mint 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

Market Chatter: BHP, Rio Tinto Bet on India for Future Steel Demand Growth

Mining majors BHP Group and Rio Tinto are turning focus toward India, viewing it as a key driver of future steel demand as growth in China slows, Bloomberg reported on Tuesday.Executives from both companies said rising steel capacity and infrastructure-led demand in India could support global iron ore consumption over the coming years.BHP's group sales and marketing officer Michiel Hovers said Indian steelmakers are expanding capacity, calling the trend "real" and already "happening".India is positioning itself as a major steel producer, with a government target of 500 million tonnes of output by 2047, compared with 165 million tonnes produced last year, according to the report.While per-capita steel use in India remains well below China, rapid urban development and public infrastructure spending are expected to sustain long-term demand growth, creating opportunities for iron ore and coal suppliers, Bloomberg noted.Rio Tinto chief commercial officer Bold Baatar said future demand growth in steel will increasingly come from India and other emerging markets, helping offset weaker trends in China, Bloomberg reported.BHP, Rio Tinto did not immediately respond to' request for comment.(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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Equities

India Raises Windfall Taxes on Diesel, Aviation Fuel Exports

India has raised windfall taxes ​on diesel and aviation fuel exports effective June 16, to ensure domestic availability of petroleum products by disincentivising exports in the backdrop of the West Asia crisis, according to an official statement on Monday.The rate of special additional excise duty (SAED) on export of diesel will be hiked to 14 per liter from 13.5 rupees per liter. SAED on export of aviation fuel will be 12.5 rupees per liter, up from 9.5 per liter, according to a Ministry of Finance notification.There is no change in the rate of duty on exports of petrol, and it remains 1.5 rupees per liter, with the prices applicable for the ​next fortnight starting ​June 16.

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Asia

Market Chatter: Razorpay Files IPO Papers Confidentially

Razorpay Software is seeking an India listing and has privately filed draft papers with the Securities and Exchange Board of India for an initial public offering, Bloomberg reported Monday, citing a newspaper advertisement.The payments firm could raise as much as $500 million through the share sale, people familiar with the matter told Bloomberg.Kotak Mahindra Capital, Axis Capital, Citigroup, Goldman Sachs and JPMorgan are advising on the proposed offering, the report said.Under the confidential filing route, IPO documents remain private until regulatory review is completed, 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

Market Chatter: India's REITs, InvITs May See Up to INR11.6 Trillion Inflows by 2030

India's real estate investment trusts (REITs) and infrastructure investment trusts (InvITs) could attract up to 11.6 trillion rupees in inflows by 2030, driven by mutual funds, insurers and pension funds, Moneycontrol reported Tuesday, citing Avendus Capital.The brokerage said stronger liquidity, supportive regulation and rising investor familiarity with income-generating assets could support the sector, 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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International

India's Goods, Services Imports Rise 19% in May

India's total imports of goods and services increased 19% year over year to an estimated $92.5 billion in May, according to data released by the Ministry of Commerce and Industry on Monday.Of the total, merchandise imports rose to $73.4 billion in May from $60.9 billion a year earlier, while services imports increased to $19.1 billion from $16.7 billion.Total exports rose 15.8% to an estimated $82 billion, resulting in a trade deficit of $10.5 billion, compared with $6.8 billion a year earlier.

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International

Update: India's Goods, Services Exports Rise 15.8% in May

(Updated to add services export value)India's total exports of goods and services increased 15.8% year over year to an estimated $82 billion in May, according to data released by the Commerce Ministry on Monday.Of the total, merchandise exports rose to $45.2 billion in May from $38.3 billion a year earlier, while services exports increased to $36.76 billion from $32.46 billion.Meanwhile, total imports rose 19.2% to an estimated $92.5 billion, resulting in a trade deficit of $10.5 billion, compared with $6.8 billion a year earlier.

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International

India's Goods, Services Exports Rise 15.8% in May

India's total exports of goods and services increased 15.8% year over year to an estimated $82 billion in May, according to data released by the Commerce Ministry on Monday.Of the total, merchandise exports rose to $45.2 billion in May from $38.3 billion a year earlier, while merchandise imports increased to $73.4 billion from $60.9 billion.Total imports rose 19.2% to an estimated $92.5 billion, resulting in a trade deficit of $10.5 billion, compared with $6.8 billion a year earlier.

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International

IMF Sees Global Economy Holding Up Amid Middle East Conflict

The global economy has remained resilient despite the Middle East conflict, supported by strong growth in the U.S. and China, though energy importers remain vulnerable, according to a Monday blog by IMF Managing Director Kristalina Georgieva.Oil prices remain about 30% above pre-war levels, contributing to higher inflation in many economies.However, inflation expectations have generally remained anchored, while financial markets have held up and global financial conditions remain accommodative, Georgieva said.She said investment in artificial intelligence and data centers continues to support growth, particularly in the U.S. and parts of Asia, helping offset the impact of higher energy costs.The IMF warned that countries heavily reliant on energy imports, especially in Africa and parts of Asia, face mounting pressure from higher fuel, food, and financing costs.The fund said policymakers should maintain price stability and fiscal discipline while remaining prepared to respond to prolonged disruptions.

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International

Passenger Vehicle Sales in India Rise in May

Sales of passenger vehicles in India increased to 4,38,854 units in May from 3,44,656 units in the same month last year, the Society of Indian Automobile Manufacturers (SIAM) said in a Tuesday release.Three-wheeler sales stood at 70,720 units in the month, gaining from 53,942 units in May 2025, while two-wheeler sales also rose to 19,02,209 units from 16,55,927 units during the year-ago period.The data excluded sales of BMW, Mercedes, Jaguar Land Rover, Volvo and Tata Motors (BOM:500570, BOM:570001) vehicles.

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Indian Wholesale Inflation Rises 9.68% in May
US Markets

Indian Wholesale Inflation Rises 9.68% in May

India's annual wholesale price index (WPI)-based inflation rate increased, the fastest since September 2022, as the effects of the war in the Middle East continue to drag.The country's wholesale price inflation rose to 9.68% year over year in May, faster than the slightly modified 8.26% pace recorded in the prior month, the Ministry of Commerce and Industry said Monday.The figure was higher than the consensus forecast of 9.10% tracked by Investing.com and 9.05% by economists polled by Reuters.The higher-than-expected reading could indicate bullishness for the Indian rupee, Investing.com said.Prices of wholesale fuel and power surged 30.33% in May, faster than the 24.89% rise in April, and the fastest since September 2022, the ministry said.Fuel prices drove the WPI in both April and May, the ministry said. The increases happened amid the war in Iran, which drove state-run oil marketing companies to raise retail fuel prices four times during the month, Reuters reported separately.Primary article prices jumped 4.99% during the month, up from a 3.78% increase in the previous month.Manufacturing prices grew 7.48%, faster than the 6.68% rise recorded in April and the fastest since August 2022.Food inflation surged 4.49%, a 14-month high, from 3.11% in April.Wholesale inflation is also higher than retail inflation, which jumped 3.93% in May, close to the Reserve Bank of India's 4% target for retail inflation within a tolerance band of 2% to 6%, Reuters said.The figure will not directly impact interest rates, Reuters said Monday, citing economists.The wholesale inflation release also debuted new indicators such as the output and trial producer price indices, as well as service PPIs for the banking, securiites, transaction, insurance, pension fund management, airlines, railways, and telecommunications.

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