It’s that time again! The countdown to the US Federal Reserve's June policy decision is officially on! Back in India, all eyes are on Finance Minister Nirmala Sitharaman— who has just taken her seat in the North Block office— when she'll come out with that full-year budget plan.
On to stocks — things are heating up! BSE-listed companies are smashing records, with a market capitalisation soaring over ₹429 lakh crore (that's a cool $5.14 trillion!). On the macro front, India's retail inflation (or CPI) is chilling out at a 12-month low, and the IIP data is giving us some much-needed encouragement.
From the aviation sector, despite a fifth of its fleet being grounded, India's largest airline is still soaring high.
Financial Roundup
The dust has settled, and it's time for the Modi government's policy action. After the gruelling last three months of elections and results, all eyes are on Finance Minister Nirmala Sitharaman to come out with the Modi 3.0 budget. Read on for the likely date and time of Finance Minister Nirmala Sitharaman's next budget speech.
Read Here
Indian benchmark indices, Nifty 50 and Sensex, concluded today's trading session on a positive note. Nifty 50 closed at 23,323.55, while Sensex ended at 76,606.57. The midcap index continued its upward trajectory, marking its third consecutive session of hitting a life high. Although the Nifty Bank failed to maintain levels above 50,000, it closed with minor gains. Notably, the market capitalization of BSE-listed companies reached a record high of over ₹429 lakh crore ($5.14 trillion). Leading the gains in Nifty 50 were stocks like Coal India, Power Grid, Eicher Motors, SBI Life, and Tech Mahindra. HDFC Bank, L&T, Reliance, Power Grid, and Coal India were among the top contributors to the index's upside during closing.
India's retail inflation, as measured by the Consumer Price Index (CPI), eased to a 12-month low of 4.75% in May 2024 compared to 4.83% in April, according to data released by the National Statistics Office (NSO) on Wednesday (June 12).
According to the CNBC-TV18 Poll of Economists, the forecast CPI was estimated at 4.90%.
Read More
Meanwhile, the Industrial production grows by 5% in April 2024, meets forecast
Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4% in March and 5.6% in February 2024. For the fiscal 2023-24, IIP growth was 5.9% against 5.2% in the preceding financial year. According to the CNBC-TV18 Poll of Economists, the forecast IIP was estimated at 5%. Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country's business landscape.
Details here
Meanwhile, as the Federal Open Market Committee (FOMC) meeting proceeds, all eyes are on Federal Reserve Chair Jerome Powell, with expectations rife for the announcement of unchanged policy rates on June 12. Will the US central bank cut benchmark interest rates?
CNBC-TV18 is still providing LIVE Updates on US Fed Meeting
Interglobe Aviation, which operates IndiGo airlines, has posted six straight quarters of profit at a time when the number of grounded planes has increased significantly due to the failure of engines made by Pratt and Whitney, a US-based company. And, it has dominated the market with at least 60% market share for at least a year. How did the airline pull off this feat?
Here's a look inside IndiGo's strategy.
Private sector lender Federal Bank has likely submitted three names to the Reserve Bank of India (RBI) for the position of Managing Director and Chief Executive Officer (MD & CEO), sources informed CNBC-TV18. Sources close to the matter indicate a mix of internal and external contenders.
Who are among the potential external candidates?
Read Here
Around the World
Several Indians were among 41 people killed on Wednesday in a major fire at a building in Kuwait housing workers, according to local officials and reports emanating from the Gulf nation. The building reportedly had nearly 160 people living in it, who are workers of the same company. The majority of the deceased were Indian nationals, with ages ranging between 20 and 50 years.
Read here
India has urged Russia to return its citizens, who were recruited by the Russian army, after two Indians were recently killed in the ongoing war in Ukraine.
On Tuesday night, the Ministry of External Affairs (MEA) announced that it was coordinating with Russian authorities to repatriate the remains of the two deceased Indians.
Read here
Prime Minister Narendra Modi will attend the 50th G7 summit in Italy on June 14, marking India's 11th participation. The Prime Minister is expected to hold bilateral meetings with other leaders, further solidifying India's position on the global stage. Key topics include AI, energy, and global challenges. This marks Modi's first international visit after being re-elected as the Prime Minister for the third consecutive term.
Read more here
Political Insights
TDP leader N Chandrababu Naidu was sworn in as Chief Minister of Andhra Pradesh for the fourth term on Wednesday. The ceremony was attended by Prime Minister Narendra Modi, senior BJP leaders, and Union Ministers. Janasena chief and actor Pawan Kalyan, along with Naidu's son Nara Lokesh, took oath as Ministers. Andhra Pradesh Governor S Abdul Nazeer administered the oaths. Prominent attendees included Union Ministers Amit Shah, Nitin Gadkari, and JP Nadda, as well as Maharashtra Chief Minister Eknath Shinde. Former Vice President M Venkaiah Naidu, former Chief Justice of India N V Ramana, and superstars Rajnikanth and Chiranjeevi were also present.
See here
Lotus blooms in Odisha, CM Mohan Charan Majhi takes the oath of office | In Pictures
Mohan Charan Majhi, a four-time MLA and tribal leader, was sworn in as Odisha's first BJP Chief Minister in a historic ceremony attended by Prime Minister Narendra Modi, several Union ministers, and chief ministers from various BJP-ruled states. Governor Rabghubar Das administered the oath at Janata Maidan, marking the BJP's first government formation in the eastern state. The BJP's decisive victory in the assembly elections, securing 78 out of 147 seats, ended the 24-year reign of the BJD. The swearing-in ceremony was attended by a host of dignitaries, including Prime Minister Narendra Modi, several Union ministers and chief ministers, alongside outgoing Chief Minister of Odisha Naveen Patnaik.
See here
Tech World
GitHub CEO Thomas Domke envisions future technology as a 'second brain,' enhancing productivity by managing information overload. He highlights advancements in digital assistants and Microsoft's Copilot features, and predicts India will have the largest developer community by 2027.
Read here
Coursera introduces AI-powered tools to boost exam integrity and curb cheating
Coursera introduces AI-based tools to enhance exam integrity, including the WIWA tool for detecting AI-generated assignments, ID verification, graded item locking, AI-driven proctoring, browser lockdown, and advanced plagiarism detection, ensuring academic standards and preventing cheating.
Read here
That’s all folks! Keep yourself up to date with the latest news, views and ideas to make money only on cnbctv18.com.
Beyond #Newsroom 📰
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We'll see you tomorrow with another engaging ‘Top 10@10’
On to stocks — things are heating up! BSE-listed companies are smashing records, with a market capitalisation soaring over ₹429 lakh crore (that's a cool $5.14 trillion!). On the macro front, India's retail inflation (or CPI) is chilling out at a 12-month low, and the IIP data is giving us some much-needed encouragement.
From the aviation sector, despite a fifth of its fleet being grounded, India's largest airline is still soaring high.
Financial Roundup
- When will Finance Minister Nirmala Sitharaman present the next budget?
The dust has settled, and it's time for the Modi government's policy action. After the gruelling last three months of elections and results, all eyes are on Finance Minister Nirmala Sitharaman to come out with the Modi 3.0 budget. Read on for the likely date and time of Finance Minister Nirmala Sitharaman's next budget speech.
Read Here
- Sensex up 150 points, Nifty 50 ends above 23,300; Coal India, Power Grid top gainers
Indian benchmark indices, Nifty 50 and Sensex, concluded today's trading session on a positive note. Nifty 50 closed at 23,323.55, while Sensex ended at 76,606.57. The midcap index continued its upward trajectory, marking its third consecutive session of hitting a life high. Although the Nifty Bank failed to maintain levels above 50,000, it closed with minor gains. Notably, the market capitalization of BSE-listed companies reached a record high of over ₹429 lakh crore ($5.14 trillion). Leading the gains in Nifty 50 were stocks like Coal India, Power Grid, Eicher Motors, SBI Life, and Tech Mahindra. HDFC Bank, L&T, Reliance, Power Grid, and Coal India were among the top contributors to the index's upside during closing.
- India's retail inflation eases to 12-month low of 4.75% in May
India's retail inflation, as measured by the Consumer Price Index (CPI), eased to a 12-month low of 4.75% in May 2024 compared to 4.83% in April, according to data released by the National Statistics Office (NSO) on Wednesday (June 12).
According to the CNBC-TV18 Poll of Economists, the forecast CPI was estimated at 4.90%.
Read More
Meanwhile, the Industrial production grows by 5% in April 2024, meets forecast
Factory output growth, measured in terms of the Index of Industrial Production (IIP), was 5.4% in March and 5.6% in February 2024. For the fiscal 2023-24, IIP growth was 5.9% against 5.2% in the preceding financial year. According to the CNBC-TV18 Poll of Economists, the forecast IIP was estimated at 5%. Industrial output, or factory output, is the closest approximation for measuring the economic activity of the country's business landscape.
Details here
Meanwhile, as the Federal Open Market Committee (FOMC) meeting proceeds, all eyes are on Federal Reserve Chair Jerome Powell, with expectations rife for the announcement of unchanged policy rates on June 12. Will the US central bank cut benchmark interest rates?
CNBC-TV18 is still providing LIVE Updates on US Fed Meeting
- How India’s largest airline thrives despite a fifth of its fleet being grounded
Interglobe Aviation, which operates IndiGo airlines, has posted six straight quarters of profit at a time when the number of grounded planes has increased significantly due to the failure of engines made by Pratt and Whitney, a US-based company. And, it has dominated the market with at least 60% market share for at least a year. How did the airline pull off this feat?
Here's a look inside IndiGo's strategy.
- Federal Bank likely submits three names for CEO role, including former Kotak Bank deputy KVS Manian
Private sector lender Federal Bank has likely submitted three names to the Reserve Bank of India (RBI) for the position of Managing Director and Chief Executive Officer (MD & CEO), sources informed CNBC-TV18. Sources close to the matter indicate a mix of internal and external contenders.
Who are among the potential external candidates?
Read Here
Around the World
- Several Indians among 41 killed in fire at workers' building in Kuwait
Several Indians were among 41 people killed on Wednesday in a major fire at a building in Kuwait housing workers, according to local officials and reports emanating from the Gulf nation. The building reportedly had nearly 160 people living in it, who are workers of the same company. The majority of the deceased were Indian nationals, with ages ranging between 20 and 50 years.
Read here
- New Delhi urges Moscow to return Indians recruited by Russian army after 2 die in Ukraine war
India has urged Russia to return its citizens, who were recruited by the Russian army, after two Indians were recently killed in the ongoing war in Ukraine.
On Tuesday night, the Ministry of External Affairs (MEA) announced that it was coordinating with Russian authorities to repatriate the remains of the two deceased Indians.
Read here
- PM Modi to travel to Italy for G7 summit, hold bilateral meetings with world leaders
Prime Minister Narendra Modi will attend the 50th G7 summit in Italy on June 14, marking India's 11th participation. The Prime Minister is expected to hold bilateral meetings with other leaders, further solidifying India's position on the global stage. Key topics include AI, energy, and global challenges. This marks Modi's first international visit after being re-elected as the Prime Minister for the third consecutive term.
Read more here
Political Insights
- Chandrababu Naidu swearing-in ceremony: Here's who attended | In Pics
TDP leader N Chandrababu Naidu was sworn in as Chief Minister of Andhra Pradesh for the fourth term on Wednesday. The ceremony was attended by Prime Minister Narendra Modi, senior BJP leaders, and Union Ministers. Janasena chief and actor Pawan Kalyan, along with Naidu's son Nara Lokesh, took oath as Ministers. Andhra Pradesh Governor S Abdul Nazeer administered the oaths. Prominent attendees included Union Ministers Amit Shah, Nitin Gadkari, and JP Nadda, as well as Maharashtra Chief Minister Eknath Shinde. Former Vice President M Venkaiah Naidu, former Chief Justice of India N V Ramana, and superstars Rajnikanth and Chiranjeevi were also present. See here
Lotus blooms in Odisha, CM Mohan Charan Majhi takes the oath of office | In Pictures
Mohan Charan Majhi, a four-time MLA and tribal leader, was sworn in as Odisha's first BJP Chief Minister in a historic ceremony attended by Prime Minister Narendra Modi, several Union ministers, and chief ministers from various BJP-ruled states. Governor Rabghubar Das administered the oath at Janata Maidan, marking the BJP's first government formation in the eastern state. The BJP's decisive victory in the assembly elections, securing 78 out of 147 seats, ended the 24-year reign of the BJD. The swearing-in ceremony was attended by a host of dignitaries, including Prime Minister Narendra Modi, several Union ministers and chief ministers, alongside outgoing Chief Minister of Odisha Naveen Patnaik.
See here
Tech World
- New digital assistants will act 'second brain', says GitHub global CEO
GitHub CEO Thomas Domke envisions future technology as a 'second brain,' enhancing productivity by managing information overload. He highlights advancements in digital assistants and Microsoft's Copilot features, and predicts India will have the largest developer community by 2027.
Read here
Coursera introduces AI-powered tools to boost exam integrity and curb cheating
Coursera introduces AI-based tools to enhance exam integrity, including the WIWA tool for detecting AI-generated assignments, ID verification, graded item locking, AI-driven proctoring, browser lockdown, and advanced plagiarism detection, ensuring academic standards and preventing cheating.
Read here
That’s all folks! Keep yourself up to date with the latest news, views and ideas to make money only on cnbctv18.com.
Beyond #Newsroom 📰
Follow the CNBC-TV18 channel on WhatsApp
Catch crispy news updates on the go!- CNBCTV18 Minis
Watch all #videos under one segment- CNBCTV18 Binge
We bring you real-time updates and analysis of the stock market- Real-time market updates
We'll see you tomorrow with another engaging ‘Top 10@10’
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
