Nifty Bank hit a fresh record high at 51,398 on Wednesday. IndusInd Bank, ICICI Bank, HDFC Bank and Axis Bank were among top gains while AU Small Finance Bank and Bank of Baroda saw selling pressure. Though it inched closer to 52,000 in intraday trade, it failed to hold the momentum. The crucial support is placed at 51,000.
Kalyani Forge, Windsor Machine, Tirupati Forge, MITCON Const & Engg. and Tera Software, hit their fresh 52-week highs during the day.
Indian workers are demanding higher salaries to cope with rising living costs and to feel valued. Flexibility is another key concern, as per Michael Page India's Talent Trends 2024 report. Employers need to focus on broader aspects like workplace culture, diversity, equity, and inclusion to attract and retain talent. The report highlighted workplace discrimination in India and emphasised the need to address various generational priorities and challenges in different sectors.
The NSE Nifty index closed 41.91 points down at 23516.0
The Reserve Bank of India (RBI) warned on Wednesday that the exceptionally hot summer and low reservoir levels could stress the summer crops of vegetables and fruits, potentially disrupting efforts to control inflation. Governor Shaktikanta Das highlighted that while overall inflation eased, food prices remain volatile and elevated, complicating the inflation battle.
The NSE Nifty index closed 41.91 points down at 23516.0
Thermal power plants (TPPs) in India reported their highest-ever coal stock of over 45 million tonnes on June 16, a 32% increase from the previous year. The Ministry of Coal worked tirelessly to ensure a consistent coal supply by enhancing production, logistics management, and inter-agency coordination. Cumulative coal production reached 207.48 million tonnes, reflecting a 9.27% growth. Coal India Ltd recorded a 7.28% increase in coal production and a 4% growth in dispatches.
The CAT 2024, organized by IIM Calcutta and scheduled for November 24, 2024, is expected to have its notification released around July 30. Registration will commence in early August through the official CAT 2024 website. Prospective candidates must complete their registration by September 21, 2024, to secure an exam slot. The CAT exam is crucial for admission to 21 IIMs, IITs, and more than 1200 other prestigious B-schools across India.
Delhi faces a severe water crisis as the CGWB reports a significant decline in groundwater recharge and availability for extraction. In 2023, only 0.34 bcm of 0.38 bcm recharged groundwater was accessible, with 99.1% already extracted. Despite efforts, groundwater extraction rose from 98.16% in 2022 to 99.13% in 2023. While some areas saw improvement, critical zones expanded to cover 35% of Delhi. CGWB calls for urgent measures, including mandatory rainwater harvesting and enhanced water conservation efforts.
Union Steel & Heavy Industries Minister HD Kumaraswamy met Railway Minister Ashwini Vaishnaw to discuss the implementation of a 260-km railway line between Bengaluru and Sathyamangalam (Sathy) in Tamil Nadu. The project was originally sanctioned in 1996 during HD Deve Gowda's tenure as Prime Minister. The proposed line would branch off at Hejjala on the Mysuru-Bengaluru sector, passing through several key locations including Chamarajanagar and potentially extending further to Sathyamangalam.
Smriti Mandhana (Google Trends): Opener Smriti Mandhana and skipper Harmanpreet Kaur led India to a formidable 325/5 against South Africa in the 2nd women's ODI, with Mandhana scoring 136 and Harmanpreet 103*. Earlier, the proteas' skipper Laura Wolvaardt won the toss and elected to bowl first. India is leading the three-match series 1-0.
High temperatures are disrupting flights at Indira Gandhi International Airport, causing delays and requiring safety measures like waiting for wind speed to stabilize. In some cases, aircraft may reduce fuel or baggage.
US-based General Atlantic and Asia Opportunities V (Mauritius) plan to sell Rs 830 crore worth of shares in PNB Housing Finance through open market transactions.
Gold prices rose Rs 80 to Rs 72,430 per 10 grams in the local market on Wednesday in line with firm trends in the international markets, according to HDFC Securities. The precious metal had closed at Rs 72,350 per 10 grams on Tuesday.
Australia's Marcus Stoinis claimed the top spot as the number one all-rounder in the ICC T20 rankings, while Mohammad Nabi dropped three places. Sri Lanka's Wanindu Hasaranga and Bangladesh's Shakib Al Hasan climbed to second and third. West Indies bowler Akeal Hosein moved up in the rankings to second. India's Suryakumar Yadav maintained his position as the top-ranked batter.
Political dynasties in Haryana, including Kiran Choudhry and Shruti Choudhry, are shifting to the BJP from Congress, reshaping the state's political landscape. Chief Minister Nayab Singh Saini, Bhupinder Singh Hooda, and the legacy of Bansi Lal play crucial roles in these transitions.
Salesforce in India is set to create 1.8 million jobs and $88.6 billion in revenues by 2028 through AI-driven initiatives. The company's focus on public sector solutions and digital lending reflects its commitment to India's growth.
Cyril Ramaphosa was sworn in for a second term as South Africa's president in Pretoria. He formed a coalition government after his party lost its parliamentary majority. The inauguration ceremony included various dignitaries and marked the beginning of a challenging final term for Ramaphosa, who will lead the first coalition government in South Africa's democratic history.
The Nifty Realty index closed 2.83 per cent down at 1117.7.
IMD announced the expected arrival of monsoon in Delhi-NCR around June 30. The weather office also forecast dust storms and light rainfall offering brief relief from the severe heatwave over the next few days.
Karnataka IT Minister Priyank Kharge on Wednesday said the state is at the forefront of innovation, contributing 22 per cent to global R&D, and is leading in areas such as technology services. The state government is striving to make not just Karnataka but India a skilled nation, research and manufacturing destination, innovation capital and biotech and startup hub, he said.
The IMD forecasts severe heatwave conditions continuing across North India, affecting states like Punjab, Haryana-Chandigarh, Delhi, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Bihar, and northern Madhya Pradesh. Nighttime temperatures remain warm, with daytime highs reaching 44-47.6°C. WHO guidelines advise staying indoors during peak heat, using cool air at night, hydrating, and protecting vulnerable groups like children and elderly from extreme temperatures.
How to quit having coffee and tea? Caffeine effects on body and how to quit caffeine.
In the Nifty pack, 11 stocks closed in the green, while 39 stocks ended in the red.
The Centre extends AYUSH Secretary Vaidya Rajesh Kotecha's tenure by one year, making it his third extension. The Appointments Committee of the Cabinet approves the extension. PM Modi to lead International Day of Yoga celebrations at SKICC in Srinagar on June 21.
