BUSINESS
RBI Announces Money Markets Opening at 2:30 PM on January 22
According to a circular issued by the RBI, the money markets will commence trading at 2.30 p.m. instead of the usual 9 a.m. on January 22.
Forex Reserves Soar by USD 1.63 Billion, Reaching a Total of USD 618.9 Billion
In the preceding week, the overall reserves experienced a significant decline, contracting by USD 5.89 billion to USD 617.3 billion. It's worth noting that India's forex reserves had achieved an unprecedented pinnacle of USD 645 billion in October 2021.
Gold Surges by Rs 250, Silver Witnesses a Rally of Rs 400
Breaking a three-day losing streak, spot gold prices (24 carats) in Delhi are currently trading at Rs 63,000 per 10 grams, marking a gain of Rs 250. This surge is attributed to a recovery in overseas markets, as mentioned by Saumil Gandhi, senior analyst of commodities at HDFC Securities.
PM Modi Foresees India Infusing New Energy into the Global Aviation Market
Modi expressed confidence that India will play a significant role in boosting the global aviation market. He noted that India has become the world's third-largest domestic aviation market, and within a decade, the number of passengers is expected to double. The 'UDAN' scheme, aimed at enhancing domestic aviation, has played a crucial role in this growth.
Sensex Rebounds 496 Points with Value Buying in Oil and Metal Shares, Breaking a 3-Day Losing Streak
The 30-share BSE Sensex made an impressive jump of 496.37 points, settling at 71,683.23, marking a 0.70% increase. In the course of the day, it soared by 708.78 points or 0.99%, reaching 71,895.64. The Nifty, on the other hand, climbed by 160.15 points or 0.75%, closing at 21,622.40, with 43 of its shares in the green and seven in the red.
Foreign Portfolio Investors (FPIs) Offload Equity Heavily, Selling Worth Rs 20,480 Crore in the Last 2 Days
In the past two days, FIIs have significantly offloaded equity, amounting to Rs 20,480 crores. This sell-off is attributed partly to the surge in US bond yields, reaching 4.16%, and partly to the high valuations in the Indian stock market.
Amid Election Year, NDA Governments Maintain Focus on Capital Expenditure, Unlike UPA: Insights from Emkay Global
Analyzing the trends of the five election cycles since 2004, the report highlights that election cycles with the NDA as the incumbent have consistently seen a prioritization of capex over revex. The current election cycle shows an even stronger inclination towards capex compared to previous cycles.
Sebi to act against 3 i-bankers found inflating IPO subscriptions, says Madhabi Puri Buch
Speaking at an annual convention organized by an investment bankers' lobby grouping, Buch mentioned that SEBI has evidence of "mule accounts" being used to front-run stocks by individuals seeking to avoid leaving trade traces.
Markets Rally After Three Consecutive Days of Decline
The 30-share BSE Sensex surged by 657.45 points to reach 71,844.31 in early trade, indicating a strong start. The Nifty also showed a notable increase, rising by 194.75 points to 21,657.
Pakistan Stock Market Witnesses Sharp Decline Amidst Rising Pak-Iran Tensions
The decline in the PSX was attributed to the escalating tensions between Pakistan and Iran. In response to an air strike conducted by Iran, Pakistan's armed forces carried out an early morning attack on terrorist hideouts in Iran's Sistan-o-Balochistan province. This development intensified the strain between the two countries.
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