Markets decline in initial trade amid soaring inflation, foreign fund exodus
The Hindu
Equity markets decline on weak earnings, global trends; inflation hits 14-month high, foreign funds exit, oil prices rise.
Equity benchmark indices declined in early trade on Wednesday (November 13, 2024) amid retail inflation soaring to a 14-month high of 6.21% in October and unabated foreign fund outflows.
Muted quarterly earnings and weak trends in global markets were also the spoilsport for the markets, traders said.
The BSE benchmark Sensex declined 239.69 points to 78,435.49 in early trade. The NSE Nifty went down 103.15 points to 23,780.30.
From the 30-share Sensex pack, Mahindra & Mahindra, Maruti, Tata Steel, Sun Pharma, Nestle, and ITC were the biggest laggards.
Titan, HDFC Bank, Bharti Airtel, and NTPC were among the gainers.
Retail inflation breached the Reserve Bank's upper tolerance level, soaring to a 14-month high of 6.21% in October mainly on account of rising food prices.
Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,024.31 crore on Tuesday, according to exchange data.
RBI plans ₹1 lakh crore OMO in December to boost liquidity amid upcoming tax payments, ensuring stability in the banking system.
IndiGo faces ongoing flight delays and cancellations due to technology issues, weather, and new crew rostering rules.
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Rupee rises 20 paise to 89.69 against the dollar as investors await RBI's monetary policy decision amidst market pressures.
Just nine Fugitive Economic Offenders (FEOs) owed Indian banks over ₹58,000 crore in principal and interest. To date, banks have recovered just over ₹19,000 crore — roughly 33% of the total dues.
Commerce Minister Piyush Goyal urges Indian businesses to seize opportunities in Russia's market, addressing talent shortages and trade demands.
Premiumisation is driving the growth in beauty and personal care industry in India and this segment is growing faster than the products made for the masses, industry executives said at Cosmoprof India 2025, a beauty & personal care industry event currently underway in Mumbai.
Scaling Artificial Intelligence(AI) at the speed at which consultants project is not possible by the laws of physics and may not be environmentally sustainable, said Tanvir Khan, who is the Executive Vice President and Chief Operating Officer of NTT DATA North America, part of the Japanese technology services and data centre company NTT Data, in an interview with The Hindu.
The Rupee appreciated by 19 paise to close at 89.96 against the U.S. dollar amid weak dollar index support.
India aims to expand its tea exports to China, highlighting diverse varieties like Darjeeling and Masala at a recent buyer-seller meet.
Stock markets rebound after four days of decline as Sensex rises 158 points, driven by tech and IT shares.
India reduces Russian oil imports by 38% in October 2025, marking the sharpest decline in value and volume yet.