The combined market valuation of companies listed on the BSE fell by Rs 16.77 lakh crore during the period. (AI image) The recent stock market crash, now stretching into its fourth session on Tuesday, has led to investors losing a massive Rs 16.77 lakh crore of wealth. Investors have seen their wealth shrink over the … Read more
Indian equity benchmark indices extended losses for the fourth straight session on Tuesday, with the Sensex and Nifty plunging nearly 2 per cent amid rising crude oil prices, continued foreign fund outflows and growing uncertainty over the escalating West Asia conflict.The BSE Sensex tumbled 1,456.04 points, or 1.92 per cent, to close at 74,559.24, while … Read more
India’s retail inflation rose to a more than one-year high of 3.48 per cent in April from 3.40 per cent in March, driven mainly by higher food prices, according to data released by ministry of statistics & programme implementation on Monday. Food inflation, measured by the Consumer Food Price Index (CFPI), also accelerated to 4.20 … Read more
State-run oil marketing companies are facing a major hit to their finances, Union petroleum and natural gas minister Hardeep Singh Puri flagged on Tuesday. Puri said that oil marketing companies (OMCs) are collectively losing around Rs 1,000 crore every day as they continue to sell petrol, diesel and LPG below cost. He added that the … Read more
As rupee continues to breach multiple record lows, pressure on India’s balance of payments is growing. To protect foreign exchange reserves and help stabilise trade balance, Prime Minister Narendra Modi has urged people to cut down on gold purchases.But if not buying new gold, could household gold be turned into working capital instead?PM Modi’s call … Read more
Wall Street’s menu of market acronyms has officially moved from Tacos to nachos and investors are discovering this new trade comes with a much spicier aftertaste.After months of betting on the “Taco” trade — shorthand for “Trump Always Chickens Out” — traders are now embracing “Nacho”, or “Not A Chance Hormuz Opens”, as fears grow … Read more
Union petroleum and natural gas minister Hardeep Singh Puri on Tuesday soothed concerns over energy supplies across the country, saying that fuel and cooking gas supplies remain stable. Addressing the CII Annual Business Summit, Puri said that the country currently holds crude oil and LNG reserves sufficient for 69 days, while LPG stocks can last … Read more
Crude prices stayed elevated as hopes of a quick resolution to the Middle East conflict weakened, raising fears that the closure of the Strait of Hormuz could continue for longer. (AI image) Stock market crash today: BSE Sensex and Nifty50 plunged in trade on Tuesday continuing their downward streak as global crude oil prices continued … Read more
NEW DELHI: The government announced the rationalisation of royalty rates and methodologies for crude oil, natural gas and casing head condensate (a light hydrocarbon liquid obtained during gas production), in a move aimed at simplifying regulations and boosting India’s upstream energy sector.Union petroleum and natural gas minister Hardeep Singh Puri said the decision would bring … Read more
India has reportedly turned down Russia’s offer to sell liquefied natural gas (LNG) cargoes that are under US sanctions, despite rising energy concerns linked to tensions in the Middle East.The decision has left at least one Russia-linked LNG shipment stranded near Singapore while discussions continue over what supplies India can legally purchase.According to a Reuters … Read more