BUSINESS
Under selling pressure through the week, Nifty falls 2.8% from all-time high
This recent correction has caused it to dip below the critical 21-day Exponential Moving Average (21EMA). The sentiment appears bearish at this point, with a key support level identified at 19,600, De said.
Nifty’s sharpest weekly fall since Feb 20
Nifty fell on September 22 but showed signs of near term bottom formation. A fall below 19645 could take the Nifty to 19460-19480 band while on rises, Nifty could face resistance at 19849 for the near term.
SC asks SpiceJet to pay $1 million/month to Credit Suisse for the next six months
A bench of Justices Vikram Nath and Ahsanuddin Amanullah said that in addition to the regular payment of $500,000 per month, the budget airline will also clear arrears of $3 million in six installments, thus making an effective transfer of $1 million every month to Credit Suisse.
India's inclusion in global bond index to entail passive inflows of $26 bn
India to enjoy lower risk premia, deeper bond market and easier financing of fiscal and Current Account Deficit (CAD).
Centre aims to meet 70% of India’s IT hardware demand through domestic production
"At present, almost 80 per cent of our supplies to the digital ecosystem come from imports and only 8-10 per cent of our supply requirement comes from India. We want to make that 65-70 per cent in the next three years," the minister told journalists.
India likely to defer import curbs on PC, laptop manufacturers by 9-12 months
The move is set to be a breather for companies like HP, Apple, Dell, Lenovo and others who rely on imports to meet the surge in demand in the country for their PCs, laptops and tablets, especially in the festive season ahead.
FIIs selling to the tune of Rs 16,934 cr in Sep
The spike in the dollar index to 105.52 and the US 10-year bond yield shooting up to a 16-year high of 4.5 per cent are negative for equity markets, particularly emerging markets, he added.
Economic outlook remains bright in current fiscal as activity maintained momentum: FinMin document
The monthly economic review released by the finance ministry on Friday stated that the monsoon deficit of August has been partially plugged in September and that is good news.
SEBI eases borrowing norms for large corporates
The SEBI Board raised the monetary threshold to define large corporates, and removed the penalty for not meeting the mandate of raising at least 25 per cent of incremental borrowings for a financial year through the capital markets.
RBI proposes 6-month deadline for banks to identify wilful defaulters
The RBI identifies 'wilful defaulters' as those who have the ability to pay a bank's dues but do not or divert bank funds. The RBI did not earlier have a specific timeline within which such borrowers had to be identified.
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