Business

June 5, 2024 9:57 AM

Asian stocks rise on rate-cut wagers; spotlight on India

Asian stocks rose on Wednesday, while the dollar was steady as a softening U.S. labour market firmed up bets of an interest rate cut in September from the Federal Reserve ahead of a crucial payrolls report this week. Investor worries of a cooling U.S. economy, however, kept a lid on risk appetite...

June 4, 2024 10:00 AM

Sensex, Nifty fall 2% as Lok Sabha vote counting begins

The BSE Sensex and Nifty fell on Tuesday after a sharp rally in the previous session as early vote-counting trends showed the Bharatiya Janata Party-led NDA alliance leading in over 272 seats, but the extent of the victory was unclear. The Nifty 50 was down 2.2% to 22,779 as of 9:15 a.m. IST, and t...

June 3, 2024 4:45 PM

SBI’s market cap crosses Rs 8 lakh crore, stocks surge to all-time high

The market capitalization of the State Bank of India (SBI) crossed the Rs 8 lakh crore mark on Monday after the bank's shares surged by 9 per cent during a rally in the stock market, hitting an all-time high of Rs 912. SBI's shares have increased by more than 50 per cent in the past six months. Fi...

September 16, 2024 5:35 PM

Sensex, Nifty hit record highs on expectation of Modi 3.0

The stock market opened with an unprecedented uptick on Monday, reaching an all-time high after exit polls forecast a decisive victory for the BJP-led NDA coalition, sparking widespread investor optimism. The Sensex surged by 1859.88 points, opening at a record 75,821.19, while Nifty jumped 603.85 p...

September 16, 2024 5:43 PM

Asia shares rally on promise of rate relief, factory pick up

Asian share markets rallied on Monday as investors looked forward to a rate cut in Europe, and quite possibly Canada, as the next step in global policy easing, though sticky inflation threatens to make the process a drawn out affair. There was also better news from China as the private Caixin surve...

June 2, 2024 2:29 PM

Saudi Arabia kicks off landmark Aramco share sale to raise up to $13 bln

Saudi Arabia kicked off a secondary share sale in oil giant Aramco on Sunday, a landmark deal that could raise up to $13.1 billion in a major test of international appetite for the kingdom's assets. The banks on the deal will take institutional orders through Thursday and will price the shares the ...

June 1, 2024 7:24 PM

Coal stocks at thermal power plants remain high despite high power demand

Despite a significant increase in power demand, coal stocks at thermal power plants remain robust, exceeding 45 million tonnes (MT). This represents a 30% increase compared to last year. The current stocks are sufficient to meet 19 days of power generation needs. In May 2024, the average daily coal ...