Sensex, Nifty End Flat Amid Volatile Trade; Vistara Set to Bid Adieu
New Delhi: The benchmark stock markets of India ended the week flat in a see-saw trade on Monday, as investors reacted to weak quarterly earnings and disappointing trends from Asian markets. The Sensex ended at 58,099, while the Nifty closed at 17,349.
The Sensex had a highly volatile trading session yesterday, with shares of major corporates such as Tata Steel, Bharti Airtel, and Reliance Industries witnessing significant price movements due to FII buying and selling. The weak trend in Asian markets also put downward pressure on the stock indices.
Vistara Airlines, which was formed by merging Air India and Singapore Airlines 10 years ago, is set to bid adieu to the skies as its last domestic and international flights will be operated from midnight on Monday. The airline's website has already notified that it will cease operations of all flights effective December 4.
Rupee Falls to New All-Time Low
The rupee plunged to a new lifetime low of 84.38 against the US dollar, as it fell for the fourth straight session due to persistent foreign fund outflows and muted domestic equities trends. The currency has been under pressure in recent months due to declining exports and weak growth prospects.
Wheat Sowing on Track
Despite delayed paddy harvests in two key northern states, wheat sowing is progressing well and is expected to accelerate in the coming days, Agriculture Secretary Devesh Chaturvedi said on Monday.
Trai to Finalise Recommendation on Spectrum Allocation Norm for Satcom by December 15
Telecom sector regulator Trai is likely to finalise its recommendation on proposed rules related to spectrum allocation for satellite communications by December 15, an official said on Monday.
India Alleged to Provide Excessive Market Support to Wheat and Rice
Five WTO members - Argentina, Australia, Canada, Ukraine, and the US - have alleged that India provides excessive market support to wheat and rice, which could distort global trade.
Equity MFs Witness Record Inflow of Rs 41,887 Crore in October
Equity mutual funds witnessed a record inflow of Rs 41,887 crore in October, fuelled by robust investments in thematic funds despite the heightened volatility in the stock market. This is the highest monthly inflow for equity funds in recent years.
Rupee May Decline 8-10 Per Cent During Trump 2.0 Regime
The rupee may depreciate 8-10 per cent against the US dollar during the Trump 2.0 regime, a SBI research report said on Monday.
ONGC Reports 17 Per Cent Rise in Q2 Net Profit on Lower Levies
State-owned Oil and Natural Gas Corporation (ONGC) reported a 17 per cent rise in its second quarter net profit primarily due to lower taxes and windfall income.
Star India to Make Web Series on Reserve Bank of India
Star India will make a web series on the Reserve Bank of India's 90-year-long journey to give people an understanding about the central bank's vital role in the country's fast-growing economy.