BUSINESS
India's Q2FY22 current account deficit at $9.6 bn
The current account swung into negative territory with a deficit of $9.6 billion in Q2FY22 from a surplus of $6.6 billion in the preceding quarter. On a YoY basis, the country's Balance of Payments was in surplus of $15.3 billion in Q2FY21. "The deficit in the current account in Q2:2021-22 was mainly due to widening of trade deficit to $44.4 billion from $30.7 billion in the preceding quarter and an increase in net outgo of investment income," the RBI said in a statement.
Lower demand post festive season sequentially eases India's Nov core sector growth
The Index of Eight Core Industries' (ICI) readings for last month showed a slower rate of expansion at 3.1 per cent (provisional) from a rise of 8.4 per cent (provisional) reported for October 2021. However, on a year-on-year basis, the ICI reading during the period under review was higher than (-) 1.1 per cent reported for November 2020. The ICI index comprises 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP), comprising coal, crude oil, natural gas, refinery products, fertilisers, steel, cement, and electricity.
US stocks fall on New Year's Eve
The Dow Jones Industrial Average fell 59.78 points, or 0.16 per cent, to 36,338.30. The S&P 500 was down 12.55 points, or 0.26 per cent, to 4,766.18. The Nasdaq Composite Index dropped 96.59 points, or 0.61 per cent, to 15,644.97. Six of the 11 primary S&P 500 sectors ended in green, with consumer staples up 0.71 per cent, outpacing the rest. Communication services slipped 1.21 per cent, the worst-performing group
India's forex reserves decline by $587 mn
The Reserve Bank of India's forex reserves decreased to $635.080 billion from $635.667 billion.
FII outflows countered rising exports, dented Indian rupee in 2021
Besides, high crude oil prices along with US Fed's tapering measures added to the woes of the Indian currency.
Indian equities end year on positive note with all sectoral indices up
The Sensex and Nifty settled at 58,253 points and 17,354 points, up 0.8 per cent and 0.9 per cent from their previous close, respectively.
Equities settle on positive note; Sensex, Nifty rise over 20% in 2021
The Sensex and Nifty settled at 58253 points and 17354 points, respectively, up 0.8 per cent and 0.9 per cent from their previous close.
India Inc welcomes deferment of GST hike on textiles
According to reports, the council has deferred the proposal on the back of reservations from state governments and industry.
Equities rise in early trade; General Insurance top gainer
At 9.30 a.m., Sensex traded at 58,171 points, up 0.7 per cent from its previous close of 57,794 points. It opened at 57,849 points. Similarly, Nifty traded at 17,321 points, up 0.7 per cent from the previous close of 17,203 points. It opened at 17,244 points.
Govt notifies sale of electoral bonds through SBI
The electoral bonds shall be valid for 15 calendar days from the date of issue and no payment shall be made to any payee political party if the bond is deposited after the expiry of the validity period, according to an official statement.
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