Market

The government has approved a limited-period Rs 20,000-crore credit guarantee scheme aimed at easing fund flow constraints faced by microfinance institutions (MFIs), according to a PTI report.The Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0) will cover loans disbursed by member lending institutions (MLIs), including banks and other lenders, to non-banking finance company-MFIs and MFIs till…

Benchmark equity indices Sensex and Nifty pared most of their sharp intra-day gains but still ended nearly half a per cent higher on Friday, supported by strong buying in IT, PSU bank and metal stocks amid persistent concerns over fuel-driven inflation.In a volatile trading session, the 30-share BSE Sensex climbed 325.72 points, or 0.44 per…

US stocks edged lower in early trade on Friday, putting Wall Street on course for a fourth consecutive weekly loss, although a modest easing in oil prices helped stabilise broader global markets, according to an AP report.The S&P 500 declined 0.5% in morning deals and was headed toward its longest losing streak in a year….

Border trade between India and China through the Lipulekh Pass in Uttarakhand’s Pithoragarh district will resume this year after remaining suspended for six years, officials said, according to PTI.District Magistrate Ashish Bhatgai said preparations have been initiated following directions from the Union government for the trade session, which typically runs between June and September. The…

The price of bulk diesel sold to industrial users was hiked by about Rs 22 a litre on Friday, reflecting the spike in global oil prices amid conflict in the Middle-East, even as the rates of normal petrol and diesel remained unchanged.In Delhi, bulk or industrial diesel prices were raised from Rs 87.67 per litre…

India’s foreign exchange reserves declined by $7.052 billion to $709.759 billion in the week ended March 13, according to data released by the Reserve Bank of India (RBI) on Friday.In the preceding reporting week, the country’s overall reserves had dropped by $11.683 billion to $716.81 billion. The reserves had earlier touched an all-time high of…

The rupee plunged by 82 paise, or nearly 1 per cent, to settle at an all-time low of 93.71 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a sharp rise in global crude oil prices amid mounting geopolitical tensions, PTI reported.Forex traders said the domestic currency remained under…

Gold prices surged by Rs 1,914 to Rs 1.46 lakh per 10 grams in futures trade on Friday, tracking firm global trends amid improving sentiment following signs of easing geopolitical tensions in West Asia, PTI reported.On the Multi Commodity Exchange (MCX), gold contracts for April delivery climbed by Rs 1,914, or 1.32 per cent, to…

Asian markets showed a mixed performance on Friday, following modest losses on Wall Street and a retreat in oil prices after a sharp spike triggered by escalating Iran-Israel tensions.Oil had a volatile session on Thursday, with Brent crude briefly hitting $119 per barrel after Iranian attacks on Gulf energy facilities followed Israel’s strike on a…

India has condemned attacks on commercial shipping in the Strait of Hormuz, calling them “unacceptable,” as the International Maritime Organization (IMO) urged coordinated action to safeguard civilian vessels in the Gulf region.Addressing the 36th extraordinary session of the IMO Council in London on Thursday, Vikram Doraiswamy, India’s ambassador to the UK, emphasised New Delhi’s commitment…