BUSINESS
Gold Imports Surge by 26.7% to USD 35.95 Billion in April-December FY24
Switzerland emerged as the leading source of gold imports, contributing approximately 41% of the total share, followed by the UAE (around 13%) and South Africa (about 10%). Gold imports constitute over 5% of India's overall imports. Currently, there is a 15% import duty imposed on gold.
Rupee Maintains Narrow Trading Range Against US Dollar in Business News
At the opening of the interbank foreign exchange, the rupee started at 83.14 against the dollar, reaching a high of 83.13 and a low of 83.15. In the previous trading session, the rupee had depreciated by 5 paise to close at 83.16 against the US dollar.
E-commerce Market Thrives on Middle-Class Momentum, Economic Review
Digital infrastructure, such as the PM eVIDYA initiative and various e-commerce platforms, played a crucial role during the pandemic.
Amazon Cancels $1.7 Billion Deal to Acquire iRobot Citing Regulatory Hurdles
The termination comes as a mutual decision between the two companies, and they have signed an agreement to resolve all outstanding matters, including Amazon paying iRobot the previously agreed-upon termination fee.
Equity Markets Experience Sharp Rise on Anticipation of Interim Budget Expectations
The Sensex concluded the day 1,240.90 points or 1.76% higher at 71,941.57, while the Nifty closed 385 points or 1.8% higher at 21,737.60. The rally was notably driven by private sector banks, with Domestic Institutional Investors (DIIs) continuing to show interest in value picking at current levels.
Microsoft's Satya Nadella to Explore New AI Opportunities in India during February Visit
Puneet Chandok, President of Microsoft India and South Asia, emphasized the company's dedication to leveraging technology for the country's benefit in an internal email sent a few weeks ago.
Market Rally: Sensex Surges 1000 Points on Strong Performance by Heavyweights
The best performers in the market include oil and gas stocks, with ONGC experiencing a 7% increase, and Reliance Industries marking a 4% rise. Hindustan Petroleum is up by 4%, while BPCL shows a 3% increase. In the energy sector, Coal India has gained 3%, and Castrol is up by 4%.
Market Surge: Nifty Achieves Largest Single-Day Gain Since December 4th
On Monday, the Sensex also recorded a noteworthy increase, closing 1,240.90 points or 1.76 percent higher at 71,941.57. Cash market volumes on the NSE were reported to be high at Rs 1.26 lakh crore, and the advance-decline ratio remained positive at 1.39:1, indicating a widespread upward trend in the market, albeit with broad market indices rising less than Nifty.
Evergrande, the Embattled Chinese Property Giant, Receives Order for Liquidation
The repercussions of Evergrande's default two years ago reverberated globally, causing shockwaves in financial markets. Executive Director Shawn Siu acknowledged the court's decision as "regrettable" but assured that the company would continue its operations in mainland China, emphasizing the independence of its Hong Kong arm from its mainland business.
No Disruption in Oil Flows to India, Only Freight Costs Up, Says HPCL Head
India, being the world's third-largest oil importer, heavily relies on Russian supplies through the Red Sea. In 2023, Russian supplies accounted for over 35% of India's total crude imports, reaching 1.7 million barrels per day.
Don't Miss
Advertisement