India's foreign exchange reserves dropped by $8.478 billion to $644.391 billion for the week ending December 20, marking a continued decline. The reduction is mainly due to the revaluation and RBI's efforts to stabilize rupee fluctuations. Foreign currency assets and gold reserves saw significant reductions, contributing to the overall decline in reserves.
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March is historically the best time for Indian stock market returns, and a similar trend is expected this month. Nifty and other indices have shown positive average returns in March over the last decade, barring 2020. Analysts suggest that current market dynamics and financial stock performance support a potential rebound in the stock market.
Sebi has issued a cautionary letter to Nestle India over alleged insider trading violated by a high-ranking official. Nestle reassures that this incident will not hinder its financial and operational activities. Sebi's regulations aim to ensure fair market practices and protect common investors' interests.
The Sensex plunged nearly 1,200 points on Friday, marking its fifth consecutive day of losses. Foreign fund selling, a hawkish US Fed, a weak rupee, and poor trade data fueled the decline. The index has erased recent gains, leaving investors poorer by ₹9 lakh crore this week.
India has raised concerns regarding issues faced by its milk exporters in Nepal. In response, Nepal has agreed to consider facilitating the import of specific milk products like whey and cheese that are not adequately produced in Nepal. The two nations also discussed amendments to trade agreements, development of trade infrastructure, and various other trade-related issues.
Salaried employees opting for the old tax regime for FY 2024-25 must submit investment proofs to claim exemptions and deductions. The new tax regime requires no such documentation, allowing only two specific deductions.
Global capability centres (GCCs) are increasingly recruiting talent from IT services companies, with up to 48% of their workforce now sourced from these firms. Offering higher salaries, GCCs attract professionals in emerging tech areas and are expanding recruitment efforts to new locations within India.
London’s FTSE 100 Index plunged by 1.2% amid concerns over new US tariffs announced by President Trump, potentially impacting global markets. Asian stocks also dropped, with Japan's Nikkei falling 2.8%. Despite no immediate UK-specific tariffs, the uncertainty has affected financial markets. Investors remain cautious about a global trade war's potential effects on growth.
Hindustan Unilever Limited (HUL) reported a 1.4% increase in revenue for Q3, reaching Rs 15,408 crore, despite weak demand in urban areas due to high food inflation. The company's net profit surged 19% to Rs 3,001 crore, thanks to gains from the sale of its Pureit business. Consumers have been opting for smaller product packs across various segments.
India's November vehicle retail sales rose 11.2% to 32,08,719 units, driven by a 15.8% surge in two-wheeler demand due to festive spillover. However, passenger vehicle sales dipped 13.7% to 3,21,943 units, hampered by weak sentiment, limited product variety, and a lack of new launches, despite some support from rural markets.
The year-end travel surge sees Indian tourists benefiting from simplified visa processes in over 50 countries. Destinations like Thailand, Seychelles, Hong Kong, Malaysia, and Turkey offer easy access with visa-free or visa-on-arrival options. These relaxed entry norms enable Indian travelers to plan spontaneous international holidays without extensive preparation.