DDIndia Business: Economic Headlines & Updates

Business

June 2, 2024 4:05 PM

FPIs sold over Rs 25,000 Cr in Indian stocks in May, turning net sellers second month

The selling spree in Indian stock markets by foreign portfolio investors (FPIs) turned aggressive in May, standing at Rs 25,586 crore as the month ended. The consistent offloading of money from Indian stocks is partly attributable to a strong US dol...

June 1, 2024 7:23 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 gene...

May 31, 2024 10:15 PM

Global stocks lose steam after U.S. data

MSCI's global equities index gave up earlier gains on Friday after data showed modest U.S. inflation in April, while the dollar fell with Treasury yields as investors still bet on Fed interest rate cuts this year. The U.S. Commerce Department said t...

May 31, 2024 8:22 PM

India’s GDP exceeds estimates, grows at 8.2% in FY24 and 7.8% in Q4

India's gross domestic product (GDP) outperformed expectations, achieving a 7.8% growth rate in the January-March quarter. For the full fiscal year 2023-24, GDP growth was revised upwards to 8.2% from the earlier estimate of 7.6 percent, as reported ...

May 31, 2024 5:57 PM

Sensex, Nifty end with marginal gain; Adani Group stocks soar nearly 10 percent

The BSE Sensex and Nifty concluded the trading week on a positive note, breaking a five-day losing streak with both benchmark indices registering marginal gains. The Sensex gained 75.71 points, closing at 73,961.31, while the Nifty added 42.05 point...

May 31, 2024 5:52 PM

DGCA issues show cause notice to Air India over passenger discomfort

The Directorate General of Civil Aviation (DGCA) issued a show cause notice to Air India on Friday for inordinate delay of at least two international flights and failure to take due care of passengers. An Air India flight from Delhi that was to leav...

May 31, 2024 3:29 PM

Crypto ‘re-staking’ platforms boom as traders chase bigger returns

More than $18 billion worth of cryptocurrency has moved into a new type of platform which offers investors rewards in exchange for locking up their tokens, in a complex scheme that analysts warn poses a risk for users and the crypto market. The soar...

May 31, 2024 3:15 PM

Global stocks and dollar idle ahead of Fed’s favourite inflation figure

Global shares were little changed on Friday in subdued trading as investors hunkered down for key U.S inflation figures that will shape the Federal Reserve's thinking on interest rates when it meets mid-June. The dollar was steady against peer curre...

May 31, 2024 2:02 PM

India brings nearly 100 tonnes of gold back to domestic vaults

India has made a notable shift from the economic policies of 1991, when it exported gold and pledged it overseas to mitigate a looming financial crisis. The country has now shipped in a little over 100 tonnes of its gold reserves held in the UK. San...