Stock Market Highlights, July 22: Sensex, Nifty end flat ahead of Budget; RIL, Wipro sink up to 9%

Stock Market Highlights on July 22: In the broader markets, the BSE MidCap, and SmallCap indices snapped their two-day losing run to settle 1.3 per cent and 0.85 per cent higher, respectively

2:29 PM

AI may slowdown growth of India's services export: Economic Survey

The Economic Survey cautioned about the advent of artificial intelligence (AI) and its impact on India’s services export growth. The survey stated that AI could slow down India’s services export growth, reducing it by 0.3-0.4 percentage points a year over the next decade. READ MORE

2:26 PM

Banking's dominance in credit diminishing in country: Economic Survey FY24

Banking’s dominance in credit is diminishing and the role of capital markets is increasing in the country, said the Economic Survey for FY24 on Monday. READ MORE

2:24 PM

Indian Hotels stock soars 8% on heavy volumes on healthy growth outlook

Shares of Indian Hotels Company (IHCL) rallied 8 per cent to Rs 625.30 on the BSE in Monday’s intra-day trade on the back of heavy volumes in an otherwise subdued market owing to healthy growth outlook. The stock of Tata Group company had hit a record high of Rs 663.40 on June 26. READ MORE

2:23 PM

Indian economy expected to grow 6.5-7% in 2024-25: Economic Survey

India's gross domestic product (GDP) is expected to grow at 6.5-7 per cent in FY25, according to the Economic Survey released on Monday. The survey noted that "market expectations are on the higher side." READ MORE

 

2:19 PM

Short-term inflation outlook benign, normal monsoon expected: Eco Survey

The short-term inflation outlook for India is benign, and the expectation of a normal monsoon and moderating global prices of key imported items give credence to the projections made by the RBI and IMF, the Economic Survey said on Monday. READ MORE

 

2:04 PM

Pre-budget Eco Survey highlights urgent need for agricultural reforms

The pre-budget Economic Survey on Monday underscored the pressing need for comprehensive reforms in India's agricultural sector, citing structural issues that could impede the country's overall economic growth trajectory. READ MORE

 

1:49 PM

Real estate sales highest since 2013, over 4 lakh homes sold in 8 cities

India's household sector serves as a primary source of financial resources through savings, contributing a substantial 70% to the total gross domestic savings.  The growth in housing sales in cities has been particularly impressive, indicating that urban households are diversifying the deployment of their savings. READ MORE

1:34 PM

Economic Survey: Need to identify regulatory gaps in fintech sector

There is a continuous need to identify regulatory gaps or overlaps in the fintech sector and to benchmark regulations against global best practices, the Economic Survey 2024 pointed out. READ MORE

 

1:29 PM

Telecom tariffs likely to see more hikes in long road to Rs 300 Arpu

On Friday, as Reliance Industries announced its financial results for the June quarter, its telecom business stood out for its double-digit growth both in revenue and net profit, beating the Street forecast. Reliance Jio also emerged as the biggest telecom data company. READ MORE

1:25 PM

Gravita India shares climb up to 10% after strong growth in June quarter

Shares of Gravita India soared up to 10.18 per cent, at Rs 1,467.15 per share on the BSE in Monday’s intraday deals. READ MORE

1:21 PM

Zydus Lifesciences gets Mexican authority nod for cancer remedy biosimilar

Zydus Lifesciences Ltd on Monday said it has received marketing approval from the Mexican regulatory authority for its biosimilar product -- Bhava, used in the treatment of certain types of cancers. READ MORE

1:13 PM

Overconfidence leading to speculative market activity a concern: Eco Survey

Possibility of overconfidence leading to speculation for higher returns from the stock market is a matter of concern, the Economic Survey 2024 said. While the outlook for India’s financial sector appears bright, the Economic Survey 2024 tabled in Parliament on July 22 said, some areas will require focused attention going forward. READ MORE

1:12 PM

Zydus Wellness stock jumps 5%; hits 2-year high on hopes of demand recovery

Shares of Zydus Wellness hit an over two-year high of Rs 2,287, surging 5 per cent on the BSE in Monday’s intra-day trade in an otherwise subdued market on hopes of demand recovery. The stock of packaged foods company was trading at its highest level since October 2021. It had hit a record high of Rs 2,472.85 on September 21, 2021. In comparison, the BSE Sensex was down 0.05 per cent at 80,562 at 12:11 PM. READ MORE

1:01 PM

Economic Survey: Significant rise in retail investors in stock market calls for careful consideration

1:00 PM

Economic Survey: India can ill-afford economy’s over financialisation at its current development stage