Chairman of the Economic Community of West African States (ECOWAS) John Dramani Mahama Friday urged the political class in Burkina Faso to hold a dialogue to arrive at a political consensus.
The Ghanaian president said the sub-regional body had followed with grave attention events unfolding in Burkina Faso and the tension around the process leading to the consideration of the draft bill on constitutional amendment, Xinhua reported.
Finance Minister Arun Jaitley on Friday said increased tax refunds in the current financial year is leading to higher fiscal deficit, which neared 83 per cent of full year target in the April-September period.
“Higher tax refunds are getting reflected in fiscal deficit number. This year there were pending tax refunds estimated around Rs 1.20 lakh crore,” he told reporters here.
As per the official data, fiscal deficit has touched 82.6 per cent of budget estimates for 2014-15 to cross Rs 4.38 lakh crore at the end of September.
A benchmark index of Indian equities markets Friday touched a record high of 27,762.13 points, surpassing previous high of 27,390.60 points hit Thursday.
Good buying was observed in capital goods, auto, banking, metal, oil and gas and IT sectors; while selling pressure was seen in consumer durables sector.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,439.06 points, was trading at 27,751.75 points (at 01.05 p.m.) in the afternoon session, up 405.42 points or 1.48 percent from the previous day’s close at 27,346.33 points.
The BSE Sensex and the NSE Nifty soared to hit new all-time highs of 27,493.59 and 8,214.65 points, respectively, in opening trade on October 31 on sustained fund inflows, driven by a slew of economic reforms announced by the government amidst optimism over strong corporate earnings.
The leading cast members of ` Game of Thrones` have signed contracts for the possible seventh season of the hit fantasy drama, it has been revealed.
According to The Hollywood Reporter, US network HBO has offered its principal cast members “huge raises” for seasons five and six that will make them some of the highest-paid actors on cable television.
Leading actors who were on board for six series have completed renegotiations that will see their current contracts extended, if the show continued further.
Snapping its four-day falling streak, the rupee rose by eight paise to 61.37 against the US dollar in early trade on Friday on sustained foreign capital inflows amidst a higher opening in the domestic equity market.
Increased selling of the American currency by banks and exporters amid sustained foreign capital inflows following a slew of reforms announced by the government supported the rupee but the dollar’s firmness against other currencies overseas capped the gains, dealers said.
Besides, a strong rally in domestic equity market in opening trade helped the rupee, they added.
The European Union (EU) has lifted its decade-long economic sanctions on Zimbabwe in a move that will see the trading bloc extending 234 million Euros (about 300 million dollars) to support programmess in the country.
President Robert Mugabe and his wife Grace, however, still remain on the EU restrictive measures which are due for review next February, Xinhua quoted EU ambassador to Zimbabwe Philipe Van Damme as saying in a press conference.
Calling for cutting expenditure due to the current fiscal situation, the finance ministry Thursday asked government departments to cut non-plan expenditure by 10 percent, including first class air travel on overseas visits and meetings in five-star hotels.
“In the context of the current fiscal situation, there is a need to continue to rationalise expenditure and optimise available resources,” the ministry said in an office memorandum.
The benchmark BSE Sensex hit a record-high by soaring 260.68 points to 27,358.85 during mid-session trade today on increased buying by investors as the recent economic reforms have instilled confidence that the country can better withstand potential rate hikes in the US. The Sensex shot up by 260.68 points, or 0.96%, to hit an all-time high of 27,358.85, surpassing its previous record of 27,354.99 touched on September 8.
(LeA benchmark index of Indian equities markets Thursday was trading 171.02 points or 0.63 percent up as IT stocks gained.
Good buying was observed in IT, consumer durables and technology, media and entertainment (TECK) and capital goods sectors, while selling pressure was seen in auto sector.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,098.94 points, was trading at 27,269.19 points (at 12.02 p.m.), up 171.02 points or 0.63 percent from the previous day’s close at 27,098.17 points.
Continuing its winning streak for the third straight session, the benchmark BSE Sensex rose over 48 points and the NSE Nifty regained the 8,100-mark in early trade today on sustained buying in bluechip stocks amid a mixed trend in Asian markets.
Besides, covering-up of pending short positions by speculators on the last day of October series expiry in the derivatives segment, buoyed market sentiments.
The burgeoning Indian e-commerce industry is all set to consolidate in the next five years and only two to three big players will survive, Japnit Singh, senior director, Spire Research and Consulting, Singapore and India, said here Wednesday.
“In the next five years there will not be too many players, maybe 2-3 big players who have the financial capability will survive. We expect a lot of merger of small players by big players,” Singh told IANS.
A benchmark index of Indian equities markets closed Wednesday’s trade up 217.35 points (provisional) or 0.81 percent as auto stocks surged.
Good buying was observed in auto, metal, IT, oil and gas and consumer durables sectors, while selling pressure was seen in banking sector.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 27,017.44 points, closed the day’s trade 27,098.17 points (provisional), up 217.35 points or 0.81 percent from the previous day’s close at 26,880.82 points.
The benchmark BSE Sensex regained the 27,000-mark by surging over 150 points in early trade today on continued buying by participants amid good quarterly earnings and a firming trend overseas as investors await the outcome of the US Federal Reserve policy meeting.
Besides, covering-up of short positions by speculators ahead of monthly expiry in the derivatives segment, supported the rally.
The benchmark BSE Sensex regained the 27,000-mark by surging over 150 points in early trade today on continued buying by participants amid good quarterly earnings and a firming trend overseas as investors await the outcome of the US Federal Reserve policy meeting.
Besides, covering-up of short positions by speculators ahead of monthly expiry in the derivatives segment, supported the rally.
The rupee strengthened by seven paise to 61.25 against the dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased selling of the US currency by exporters and banks.
Besides, the dollar’s weakness against other currencies overseas as investors await news from the US Federal Reserve about interest rate plans for the world’s largest economy and a higher opening in the domestic equity market supported the rupee, forex dealers said.
The Indian rupee on Monday snapped a four-session rally and softened by three paise to end at 61.30 against the Greenback on dollar demand from oil importers amid weakness in local equities.
A better dollar overseas ahead of two—day monetary policy meeting of the US Federal Reserve starting Tuesday and slowing capital inflows also weighed negatively on the market.
A benchmark index of Indian equities markets Tuesday was trading 62.41 points or 0.23 percent up as capital goods stocks gained.
Good buying was observed in capital goods and banking sectors, while selling pressure was seen in metal and oil and gas sectors.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,788.73 points, was trading at 26,815.31 points (at 09.17 a.m.) in the early session, up 62.41 points or 0.23 percent from the previous day’s close at 26,752.90 points.
Japanese telecommunications company SoftBank Corporation’s chairman and chief executive officer Masayoshi Son who met Indian Prime Minister Narendra Modi Monday also pledged an investment of $10 billion in India’s IT and communications space, an official statement said here.
The World Bank Monday said India’s GDP is likely to expand by 5.6 percent this fiscal.
The World Bank’s “India Development Update” released here said: “India’s economic growth is expected to rise to 5.6 percent in FY15, followed by further acceleration to 6.4 percent and 7 percent in FY 2016 and FY 2017.”
It said identifying the goods and services tax (GST) as the most important economic reform that the new government should undertake for faster growth.
Snapping a five-session winning streak, a benchmark index of Indian equities markets Monday closed trading 98.15 points or 0.37 percent down as oil and gas stocks slumped.
Selling pressure was seen in oil and gas, auto and fast moving consumer goods (FMCG) sectors, while good buying was observed in consumer durables, capital goods and banking sectors.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,959.57 points, closed at 26,752.90 points, down 98.15 points or 0.37 percent from the previous day’s close at 26,851.05 points.
Rising for the sixth consecutive session, the benchmark BSE Sensex gained over 49 points in early trade on Monday on sustained foreign capital inflows amid hopes of more reforms by the government.
The 30-share index, which had gained over 851.71 points in the previous five sessions after the government announced reforms in oil & gas and coal sectors, rose by 49.33 points, or 0.18 per cent, to 26,900.38 with power, PSU, capital goods, healthcare and banking stocks leading the rise.
The NSE Nifty also edged higher by 19.30 points, or 0.24 per cent, to 8,033.85.
Maintaining its gaining streak for the fifth straight day, the rupee appreciated by eight paise to 61.19 against the US dollar in early trade at the Interbank Foreign Exchange today on increased capital inflows amidst selling of the American currency by exporters.
Besides, strengthening of the euro against the dollar in overseas market and a higher opening in the domestic equity market supported the rupee, traders said.
The rupee had gained four paise to close at over one-week high of 61.27 in the previous session on Wednesday.
A key Indian equities index started on a positive note Monday, opening nearly 110 points or 0.4 percent, on positive sentiments from the global economy, notably the US. This was the sixth straight day of positive rally on Indian stock markets.
But within minutes into trading, the gains were somewhat toned down with the sensitive index (Sensex) of the Bombay Stock Exchange, slipping to 26,895.8 points, up 44.78 points, or 0.17 percent, over the previous close at 26,851.05 points. The index had opened at 26959.57 points.
The top eight most valued Indian companies together added Rs 32,825 crore in their market capitalisation (m-cap) last week, with ICICI Bank and ONGC witnessing the maximum rise in valuation.
Except Infosys and ITC, rest eight companies out of the top 10 Sensex companies saw rise in their m-cap, including TCS, RIL and CIL.
The m-cap of ICICI Bank surged Rs 8,182.5 crore to Rs 1,82,434.20 crore, while ONGC added Rs 5,347.18 crore to Rs 3,45,214.03 crore.