India's Current Account Deficit (CAD) is expected to remain at 1.1 per cent of the Gross Domestic Product (GDP) in the financial year 2024-25 (FY25), according to a report by ICICI Bank.
India's current account deficit (CAD) widened slightly to USD 11.2bn (1.2% of GDP) in Q2 from USD 10.2bn (1.1% of GDP) in the previous quarter. However, there was a Balance of Payments (BoP) surplus of USD 23.8 billion was there in the first half (H1).
Despite the recent fall, Indian equity markets are on track to close 2024 with positive returns for the ninth consecutive year, marking the longest streak of annual gains on record, according to a report by Standard Chartered bank.
FII outflows reduced to Rs182 billion (USD 2.2 billion) in November, a sharp drop from Rs919 billion (USD 10.9 billion) in October.
Interestingly, the month showcased a tale of two halves. While FIIs remained net sellers in the first half of November, with outflows of Rs195 billion (USD 2.3
The recent decline in India's forex reserve from USD 705 billion to USD 656.58 billion is because the central bank is using forex reserve to manage currency volatility says a report by Union Bank of India.
This level, indicative of persistent challenges for the rupee, reflects an ongoing struggle against strong dollar demand, high crude oil prices, and considerable foreign institutional outflows.
Stock indices in India settled in the red on Friday, extending losses from the past session. Sensex closed at 79,486.32 points, down 55.47 points or 0.070 per cent, while Nifty closed at 24,148.20 points, down 51.15 points or 0.21 per cent.
The report adds that domestic economy is showing robust growth with supply chain sector showing robust growth, e-way bill generation--a key indicator of freight movement and economic activity--reached a record 117.25 million in October. This marks a 17 per cent increase year-on-year, reflect
The Sensex dropped 377.73 points to 79,164.55 at opening, while the Nifty declined by 121.30 points to 24,078.05. With only eight companies advancing and forty-two in decline within the Nifty 50, the market reflected broad-based pressure, as sectors across the board saw a pullback.
As the Indian benchmarks experienced range-boud consolidation in the last trading week, markets are expected to remain sensitive to foreign fund outflows and a subdued earnings season, say the market experts.
Foreign portfolio investors (FPIs) have significantly impacted key sectors such as financial services, oil & gas, and automobiles with continued selling pressure, according to a report by the State Bank of India (SBI).