Markets fall in early trade on weak Asian equities
The Hindu
After a weak beginning, the 30-share BSE Sensex declined 164.36 points to 61,708.63 in early trade. The broader NSE Nifty dipped 44.4 points to 18,359.
Equity benchmark indices fell in early trade on November 16 amid weak trend in other Asian markets. After a weak beginning, the 30-share BSE Sensex declined 164.36 points to 61,708.63 in early trade. The broader NSE Nifty dipped 44.4 points to 18,359.
From the Sensex pack, Tata Steel, Hindustan Unilever, Bajaj Finance, Power Grid, Bajaj Finserv and Asian Paints were the major laggards. Dr. Reddy's, Maruti, Tata Consultancy Services and UltraTech Cement were among the winners in early trade.
Elsewhere in Asia, markets in Seoul, Tokyo, Shanghai and Hong Kong were trading lower. Wall Street had ended in the positive territory on November 15.
"While the undertone of the market remains cautious to intra-day volatility, cooling U.S. inflation, sluggish crude oil price, expectations of slow pace of rate hikes by the U.S. Fed and hopes of easing coronavirus restrictions by China could further boost investors' confidence," said Prashanth Tapse, Research Analyst, Senior V-P (Research), Mehta Equities Limited.
The BSE benchmark climbed 248.84 points or 0.40% to settle at 61,872.99 — its lifetime high — on Tuesday. The Nifty advanced 74.25 points or 0.41% to finish at 18,403.40.
International oil benchmark Brent crude was trading 0.25% lower at $93.63 per barrel. Foreign Institutional Investors (FIIs) offloaded shares worth ₹221.32 crore on Tuesday, as per exchange data.
Elon Musk’s X Corp sued 18 major music publishers and a leading U.S. music industry trade association on Friday
Four banks, Bank of Baroda, RBL Bank, Yes Bank, and State Bank of India, challenge RBI's decision to disclose NPAs and defaulters' list under RTI, citing potential harm to commercial interests.
Adani Group plans a ₹1.5 lakh crore investment in Kutch, focusing on renewable energy, ports, and logistics over five years.
Mukesh Ambani announces ₹7 lakh crore investment in Gujarat, emphasizing clean energy, AI, and support for Olympic ambitions.
India mandates selfies and 'penny drop' for crypto KYC, discouraging ICOs and ensuring strict anti-money laundering measures.
Mukesh Ambani announces ₹7 lakh crore investment in Gujarat, emphasizing clean energy, AI, and support for Olympic ambitions.
The All India Cashew Association calls for urgent action against illegal cashew imports threatening India's domestic processing industry.
Moody’s upgrades Shriram Finance’s outlook to positive, citing strategic benefits from MUFG Bank's upcoming investment and improved financial stability.
India's rice exports soar to near record levels in 2025, driven by lifted curbs and increased global demand.
Dr. Reddy's responds to U.S. FDA queries regarding its Hyderabad biologics facility following a recent inspection.
Techno Paints plans a ₹500 crore IPO in FY27, featuring Sachin Tendulkar as brand ambassador to boost growth.
India's shift from Russian oil imports will have limited fiscal impact due to low global prices and reduced discounts.
The latest Household Consumption Expenditure Survey (HCES) by MoS&PI reveals a transformative shift in India’s economic landscape. For the first time in over a decade, granular data on Monthly Per Capita Expenditure (MPCE) highlights a significant decline in the proportional share of food spending—a classic validation of Engel’s Law as real incomes rise. Between 1999 and 2024, both rural and urban consumption pivoted away from staple-heavy diets toward protein-rich foods, health, education, and conveyance. As Indian households move beyond subsistence, these shifting Indian household spending patterns offer vital insights for social sector policy, poverty estimation, and the lived realities of an expanding middle-income population.