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251 stories mentioning Nifty 50Updated 1d ago

India's benchmark in focus as May data showed goods and services exports up 15.8% and imports up 19% year over year.

Asia

India Defends INR29 Increase in LPG Prices

The Ministry of Petroleum & Natural Gas has defended a recent 29-Indian-rupee increase in domestic liquefied petroleum gas (LPG) prices, saying Indian households still pay among the lowest cooking gas rates globally.The defense came after opposition parties criticized the price hike, which went into effect Sunday.The cost of a standard 14.2-kg LPG cylinder in Delhi has risen to 942 rupees from 913 rupees following the latest price hike.This marks the second major hike since the Middle East conflict began in February, following a 60-rupee increase on March 7.LPG cylinders are mainly sold by oil marketing companies, including Indian Oil Corporation (NSE:IOC, BOM:530965), Hindustan Petroleum Corporation (NSE:HINDPETRO, BOM:500104), and Bharat Petroleum Corporation (NSE:BPCL, BOM:500547).

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

Indian Households Expect Inflation to Rise Further, RBI Survey Shows

Amid heightening geopolitical tensions and global economic turmoil, Indian households expect domestic inflation to rise further, according to a survey released by the Reserve Bank of India on Friday.The bi-monthly data of the Reserve Bank of India's Inflation Expectations Survey of Households for May showed that the current median inflation perception of households rose by 60 basis points to 7.8% from 7.2% in March.The survey was conducted from May 2 to May 11 in 19 major Indian cities.Expectations for inflation over the next three months jumped 80 basis points, while the one-year outlook climbed 50 basis points, reaching 9.3% for both horizons, the survey showed.Separate surveys conducted by the central bank also showed a decline in confidence among both urban and rural consumers.Urban consumer confidence, measured by the Current Situation Index (CSI), dropped to 90.7 in May from 95.7 in March. The Future Expectations Index (FEI), while remaining above the neutral 100 mark, declined to 118.7, the lowest level since September 2023.Meanwhile, the rural CSI slipped to 95.2 from 98.0 in March, while the rural FEI fell to 119.3 from 125.1.

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Asia

India Scraps Capital Gains Tax on FII Government Bond Investments

The Indian government on Friday removed the capital gains tax, both long-term and short-term, on investment by foreign institutional investors (FIIs) in government bonds as well as the withholding tax they must pay on the interest income from these debt instruments.India has exempted FIIs and ​the Bank for International Settlements from CGTs on receipts arising from interest or sale of government securities.The exemption will take effect retrospectively from ​April 1, according to a statement by the Ministry of Finance.At present, FIIs pay 12.5% tax on long-term capital gains, 30% on short-term capital gains, and around 20% withholding tax on interest income.The move is seen as an attempt to rein in the fall in the value of the Indian rupee and attract more foreign investment.

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International

India's Forex Reserves Rise to $682.32 Billion

India's foreign exchange reserves rose by $938 million to $682.32 billion for the week ended May 29, according to the Reserve Bank of India's Weekly Statistical Supplement released Friday.This compares with a $7.5 billion decrease recorded in the previous week.Foreign currency assets, the largest component of the reserves, rose by $3.12 billion to $546.15 billion, while gold reserves decreased by $2.19 billion to $112.6 billion.

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International

India's FY25-26 GDP Rises 7.7%

India's GDP grew 7.7% for the full fiscal year ended March 31, 2026, the National Statistical Office said in a Friday release.The growth was higher than the 7.1% expansion recorded in fiscal year 2024-2025.

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International

India's Q4 GDP Rises 7.8%

India's GDP grew 7.8% year-over-year in the fourth quarter ended March 31, the National Statistical Office said in a Friday release.The growth was the same as the 7.8% expansion in the previous quarter.The consensus forecast was for a 7.2% increase, according to Investing.com.

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Asia

Indian Equities Slip on Friday After RBI Flags Higher Inflation, Lower Growth Outlook

Indian benchmark indices ended modestly lower on Friday, giving up early gains as investors assessed the Reserve Bank of India's latest economic projections and booked profits following the monetary policy announcement.The BSE Sensex fell 116.67 points, or 0.2%, to close at 74,243.34, while the NSE Nifty 50 declined 49.85 points, or 0.2%, to settle at 23,366.70.Markets traded in a volatile range after the RBI left the repo rate unchanged at 5.25%, in line with expectations. However, the central bank highlighted risks stemming from the prolonged West Asia conflict, elevated energy prices and global supply-chain disruptions.Investor sentiment was weighed down by the RBI's revised forecasts, which raised its inflation estimate for 2026-27 to 5.1% from 4.6% and lowered its GDP growth projection to 6.6% from 6.9%. The central bank cited the impact of higher global energy prices on domestic fuel costs and broader economic activity.In corporate developments, Bharat Heavy Electricals (NSE:BHEL, BOM:500103) secured an engineering, procurement and construction contract worth 210 billion rupees from Meja Urja Nigam for the 3x800 MW Meja Supercritical Thermal Power Project Stage-II in Uttar Pradesh.Glenmark Pharmaceuticals (NSE:GLENMARK, BOM:532296) said its U.S. subsidiary launched Lacosamide Injection USP, a generic version of Vimpat Injection, for the treatment of certain seizure disorders.

^BSENifty 50BOM:500103BOM:532296NSE:BHELNSE:GLENMARK
International

India Central Bank Denies Sale of $12 Billion Gold Reserves

The Reserve Bank of India denied news reports that it sold gold reserves worth roughly $12 billion in the two weeks through May 22, saying physical stock ​of gold remains unchanged at 880.52 tons."The Reserve Bank of India (RBI) has come across reports in certain sections of the media about RBI's sale of gold. The RBI emphasized that these reports are not correct," the central bank said Wednesday.A recent Bloomberg News report said RBI likely sold gold reserves worth roughly $12 billion in the two weeks through May 22, while buying $7.5 billion of foreign-currency assets.The story was later retracted by Bloomberg.

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Asia

Market Chatter: India Reviews Spending Cuts as Higher Oil Prices Raise Subsidy Burden

India's government is reviewing possible spending cuts in parts of the federal budget as rising oil prices increase subsidy costs and threaten Indian government's fiscal consolidation roadmap, Bloomberg reported, citing officials familiar with the matter.The options have been discussed in recent meetings with Finance Minister Nirmala Sitharaman over the past month, though no final decision has been taken, the officials told Bloomberg.Capital expenditure and defense spending are unlikely to be reduced, the report noted. Officials are rather examining areas such as water resources and state loans for potential trimming, it added.The Finance Ministry did not respond to Bloomberg's request for comment, 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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India Keeps Repo Rate at 5.25%, Lifts Inflation Outlook
International

India Keeps Repo Rate at 5.25%, Lifts Inflation Outlook

India's central bank left its benchmark repo rate unchanged and retained its neutral policy stance, while lowering its growth forecast and raising its inflation outlook as policymakers assessed the economic impact of the prolonged conflict in the Middle East.The Reserve Bank of India kept the repo rate at 5.25%, in line with forecasts, according to a Friday press release.The central bank lowered its real gross domestic product growth forecast for fiscal 2027 to 6.6% and raised its inflation projection to 5.1%."The adverse implications of the extended disruption in supply chains and elevated energy prices are reflected in the moderation of growth and increase in inflation projections from the April policy," the Monetary Policy Committee said.The RBI projected GDP growth of 6.6% in the first quarter, 6.3% in the second quarter, 6.5% in the third quarter, and 6.8% in the fourth quarter of fiscal 2027.While domestic demand has remained resilient, the central bank said the economic impact of the conflict is becoming increasingly visible."While the economy has withstood the conflict spillovers with limited impact so far, the strains are increasingly becoming visible," Governor Sanjay Malhotra said in his speech.The RBI said fuel prices have risen 7.4% for petrol and 8.4% for diesel since May, adding direct inflationary pressure and increasing the risk of broader pass-through from higher energy and commodity costs.For fiscal 2027, the central bank projected inflation at 4.2% in the first quarter, 5.1% in the second, 5.9% in the third, and 5.4% in the fourth.The central bank warned that the inflation outlook remains vulnerable to supply-chain disruptions, higher commodity prices, and a below-normal southwest monsoon forecast.The committee chose to leave rates unchanged despite rising inflation risks, citing uncertainty over the duration and economic impact of the conflict in the Middle East, the statement said."Although risks of higher inflation have amplified, the MPC felt it would be prudent to wait for greater clarity to emerge. Accordingly, the MPC voted to keep the policy rate unchanged," Malhotra said.He added that policymakers would remain vigilant to signs of supply-side pressures feeding into broader prices and inflation expectations.Economists said the Reserve Bank of India may still need to tighten policy later this year if higher fuel and commodity costs feed through more broadly into consumer prices."We expect 50 basis points of rate hike beginning in October," Upasna Bhardwaj, a senior economist at Kotak Mahindra Bank, was quoted as saying by Bloomberg News."However, the extent of pass-through of supply side pressures would not rule out August policy also being live," she added.

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Asia

Market Chatter: India Eyes Stronger Oil Ties With Venezuela Amid Supply Diversification Push

India is exploring deeper energy ties with Venezuela, including crude imports and potential investments in the country's oil sector, Bloomberg reported Friday, citing comments from Rudrendra Tandon, secretary east in India's Ministry of External Affairs, following talks between Prime Minister Narendra Modi and Venezuelan Acting President Delcy Rodríguez.The discussions come as India seeks to diversify crude supplies after disruptions to shipments through the Strait of Hormuz. Venezuela has emerged as a growing source of oil for India after sanctions relief earlier this year, according to the report."In our spot purchases, Venezuela has already emerged as the third-largest supplier this month," Bloomberg quoted Tandon as saying.Both sides also discussed potential cooperation in pharmaceuticals, mining and critical minerals, Tandon reportedly told reporters. Any investment proposals would be pursued separately through commercial negotiations, he added.Oil Minister Hardeep Singh Puri said technical teams from Indian energy companies will visit Venezuela to explore opportunities for expanding cooperation in the sector, Bloomberg noted.(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 Central Bank Maintains CRR at 3%

India's central bank on Friday maintained the country's cash reserve ratio at 3%.The Reserve Bank of India has held the rate steady since December 2025, and analysts did not expect a change to the ratio during its recent meeting, according to a consensus from Investing.com.

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International

India's Central Bank Keeps Repo Rate Unchanged at 5.25%, Retains Neutral Stance

The Monetary Policy Committee of the Reserve Bank of India (RBI) on Friday kept the repo rate unchanged at 5.25% and maintained a neutral policy stance.The decision was taken at the Committee's meeting held from June 3 to June 5.The committee also kept the standing deposit facility rate unchanged at 5.00%, and the marginal standing facility rate and the bank rate at 5.50%.

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Asia

Indian Equities End Marginally Higher on Thursday Ahead of Central Bank's Policy Decision

Indian benchmark indices finished marginally higher on Thursday after another range-bound session, as investors remained cautious ahead of the central bank's monetary policy announcement.The BSE Sensex rose 13.84 points, or 0.02%, to close at 74,360.01, while the NSE Nifty 50 gained 10.95 points, or 0.1%, to settle at 23,416.55.Trading remained subdued as market participants avoided aggressive positions ahead of the Reserve Bank of India's policy outcome. Weak global cues and elevated crude oil prices also kept sentiment in check.In corporate developments, HFCL (NSE:HFCL, BOM:500183) approved a series of transactions to consolidate its defense and aerospace operations under HFCL Advance Systems. The company plans to invest 892.5 million rupees in the newly formed unit as part of a broader 1.75 billion-rupee funding round and will retain a majority stake upon completion.AstraZeneca Pharma India (NSE:ASTRAZEN, BOM:506820) said its board approved the surrender of its factory license for cancellation, following previously announced plans to exit its manufacturing facility and relinquish its manufacturing license.

^BSENifty 50BOM:500183BOM:506820NSE:ASTRAZENNSE:HFCL
Asia

Indian Equities Slip Wednesday as IT Stocks Tumble, Oil Prices Rise

Indian equities fell on Wednesday, as IT stocks lost steam, heightened tensions in the Middle East led to rising oil prices, and foreign institutional investor outflows weighed on sentiment.The BSE Sensex slipped 0.4%, or 303.67 points, to finish Wednesday's session at 74,346.17. Likewise, the NSE Nifty 50 tumbled 0.3%, or 77.95 points, to 23,405.60.Investor sentiment dampened as ongoing tensions between the U.S. and Iran led to an increase in oil prices, fueling energy-related pressures, according to a report by The Times of India.Additionally, many IT heavyweights, which had led Tuesday's rally, posted sharp declines.Among the top losers were Tata Consultancy Services (NSE:TCS, BOM:532540), Tech Mahindra (NSE:TECHM, BOM:532755), and HCL Technologies (NSE:HCLTECH, BOM:532281), which plunged over 8%, 6%, and 5%, respectively.Apollo Hospitals Enterprise (NSE:APOLLOHOSP, BOM:508869) led gainers for the day, posting a rise of nearly 3%. Tata Motors Passenger Vehicles (NSE:TMPV, BOM:500570) and InterGlobe Aviation (NSE:INDIGO, BOM:539448) were down around 2% each at the day's close.In corporate news, Bajel Projects (NSE:BAJEL, BOM:544042) bagged a mega engineering, procurement, and construction order for a GIS substation from a data center client in Mumbai. Shares closed 3% higher.Elsewhere, IndiGo, operated by InterGlobe Aviation, said it will discontinue flight operations to and from Manchester effective Aug. 31 amid prolonged airspace restrictions, longer flight times, and higher operating costs.

^BSENifty 50BOM:500570BOM:508869BOM:532281BOM:532540BOM:532755BOM:539448BOM:544042NSE:APOLLOHOSPNSE:BAJELNSE:HCLTECHNSE:INDIGONSE:TCSNSE:TECHMNSE:TMPV
Asia

Market Chatter: OYO Operator PRISM Receives SEBI Approval for Planned IPO

Hospitality technology company PRISM has received Securities and Exchange Board of India's approval for its proposed initial public offering, Mint reported Tuesday, citing people familiar with the matter.The OYO operator confidentially filed its draft red herring prospectus with SEBI in December 2025 after shareholders approved a plan to raise up to 66.5 billion rupees through a fresh issue of shares, the report said, citing the sources.PRISM is seeking a valuation of about $7 billion to $8 billion for the proposed offering, Mint noted.The company is expected to publicly file an updated draft prospectus by early July, after which the document will be open for public comments, 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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India's Services Growth Hits Six-Month High in May, Final PMI Shows
US Markets

India's Services Growth Hits Six-Month High in May, Final PMI Shows

India's services sector expanded at its fastest pace in six months in May, supported by stronger demand and a quicker increase in new business, according to survey data released Wednesday.The HSBC India Services PMI Business Activity Index rose to 59.8 in May from 58.8 in April, marking the strongest rate of expansion since November 2025, beating the consensus forecast of 58.9.The increase was driven by healthy demand conditions, new client wins, and continued growth in new business. New orders rose at the fastest pace in six months, moving further away from the slowdown recorded in March.New export orders also increased, with firms reporting gains from Australia, Canada, France, Germany, Hong Kong, Malaysia, the UAE, and the UK."India's services PMI signaled an expansion in business activity in May, supported by a continued rise in new business," Pranjul Bhandari, chief India economist at HSBC, said."External demand for India-provided services also grew at a faster pace, rebounding after a sharp decline in April. Input cost inflation eased, which in turn reduced pressure on selling prices."Input costs continued to rise during the month, driven by higher prices for food, fuel, gas, labor, and materials. However, cost inflation eased to a four-month low, while charge inflation softened to its weakest level since January.Despite the strong demand environment, business confidence among service providers slipped to a three-month low and remained below the historical average.The broader private sector also strengthened. The HSBC India Composite PMI Output Index rose to 59.3 in May from 58.2 in April, while new business across the private sector increased at the fastest pace in six months.The survey comes as India faces growing pressure from higher energy costs linked to the conflict in Iran, which has pushed up fuel import bills and weighed on the rupee.To cushion the economic impact, authorities have raised fuel prices, curbed gold imports, and tightened foreign-exchange regulations.Bloomberg reported that the Reserve Bank of India is considering a range of measures to stabilize the currency, including a potential interest-rate increase, additional currency swaps, and efforts to attract more dollar inflows from overseas investors, after the rupee recently fell to a record low against the U.S. dollar.Markets are now awaiting the Reserve Bank of India's next monetary policy decision on June 5.Prime Minister Narendra Modi also urged citizens earlier in May to reduce fuel consumption and limit non-essential travel to help conserve foreign-exchange reserves.The outlook is also clouded by weather risks after India lowered its monsoon forecast to 90% of the long-term average, citing the likely emergence of El Niño.Reduced rainfall could hurt agricultural output, raising the risk of higher food inflation and stronger demand for fuel and power.

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International

India's Private Sector Activity Improves in May, Final PMI Shows

India's private sector activity improved in May, helped by a faster jump in services activity, according to data from S&P Global and HSBC on Wednesday.The seasonally adjusted HSBC India Composite PMI Output Index rose to 59.3 in May from 58.2 in April, and was higher than the flash estimate of 58.1.Meanwhile, the HSBC India Services PMI rose to 59.8 in May, compared with 58.8 in April. It marked the strongest rate of growth since November 2025, beating the consensus forecast of 58.9.On the manufacturing side, the PMI stood at 55 in May, a rise from the previous month's figure of 54.7, and the consensus estimate of 54.3.

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International

India to Launch Producer Price Indices to Replace Wholesale Price Index

India is poised to launch Producer Price Indices (PPI) that will cover output, input, and services, aimed at providing a more accurate picture of inflation from June 15, according to a release by the Ministry of Commerce & Industry on Tuesday.The government aims to replace the Wholesale Price Index, which is currently used to measure producer-level inflation, with the PPI over the next five years. Till then, both WPI and PPI data will be released simultaneously, after which WPI will be discontinued.The base year for WPI has also been revised to 2022-23 from 2011-12, starting from the upcoming data release on June 15.The PPI data will not be released on a consolidated basis but through three indices - Input PPI, Output PPI, and Services PPI. The Services PPI will be released quarterly, while the other two will be published every month."The transition from WPI to PPI is in alignment with the global best practices adopted by advanced economies and the recommendations of the International Monetary Fund (IMF)," the commerce ministry's statement said.

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Asian Banking Sector Surges Past Automobiles to Lead May Activity Growth, S&P Global Survey Finds
US Markets

Asian Banking Sector Surges Past Automobiles to Lead May Activity Growth, S&P Global Survey Finds

Most Asian business sectors expanded in May, with banking overtaking the automobile industry, according to the S&P Global Asia Sector PMI released on Wednesday.Leading the upturn for the first time in seven months, the banking sector expanded at its second-steepest rate in over five and a half years. The growth follows a previous S&P Global forecast warning that credit losses in the Asia-Pacific banking sector could surge by approximately $180 billion due to the ongoing conflict in the Middle East.The automobile sector, last month's top performer, slipped to second place, though its pace of growth remained historically high.Of the 18 sectors monitored, only forestry and paper products, alongside construction materials, recorded a contraction in new orders; however, these declines were softer than in the previous month. In contrast, the transportation sector posted the strongest surge in new orders, despite looming concerns over U.S.-Iran negotiations.Volatility persists in the energy and oil industries due to the precarious state of U.S.-Iran talks aimed at ending the Middle East conflict."Oil prices received a boost yesterday as talks between the US and Iran appeared to break down -- again. This has become a common pattern in recent months, and there are still plenty of mixed messages," ING'S Warren Patterson and Ewa Manthey said in a Tuesday note. "As a result, oil prices continue to be whipsawed by quickly changing headlines."Operating expenses increased across all 18 sectors. S&P Global highlighted that real estate recorded a renewed rise in input prices, while the chemicals sector posted the sharpest cost inflation rate.All sectors increased their selling prices except for the consumer services sector.

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