Financial stocks likely to face more selling pressure due to large FPI exposure

IANS | October 19, 2023 11:33 AM

New Delhi, Oct 19 (IANS) The market responds to economic headwinds more than geopolitical tensions. From that perspective, the sustained rise in US bond yields is becoming a major challenge for the US, and thereby for global markets, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

India’s foodgrain production shoots up to record 329.7 million tonnes for 2022-23

IANS | October 18, 2023 8:07 PM

New Delhi, Oct 18 (IANS) India’s total foodgrain production is estimated at a record 3296.87 lakh tonnes for 2022-23 which is 140.71 lakh tonnes higher than the corresponding figure of 3156.16 Lakh tonnes achieved during 2021-22, according to the final estimates of the Ministry of Agriculture and Farmers Welfare released on Wednesday.

ONGC, OIL to gain as govt cuts windfall tax on crude oil

IANS | October 18, 2023 11:25 AM

New Delhi, Oct 18 (IANS) The central government has reduced the windfall tax on domestic crude oil with effect from October 18 from Rs 12,200 a tonne to Rs 9,050 in its fortnightly review which will benefit upstream oil companies, including ONGC and Oil India Ltd (OIL).

Nifty surpasses 19800 mark on all round buying

IANS | October 17, 2023 4:52 PM

New Delhi, Oct 17 (IANS) Benchmark indices closed higher on Tuesday with Nifty surpassing 19,800, thanks to widespread buying across various sectors, says Mandar Bhojane, Equity Research Analyst, Choice Broking.

Rupee plunges to 12-month low against dollar

IANS | October 16, 2023 5:33 PM

Mumbai, Oct 16 (IANS) The Indian rupee plunged to a 12-month low of 83.28 against the US dollar on Monday amid rising oil prices and uncertainty in global markets due to the ongoing Israel-Hamas war.