In India, Dalal Street experienced significant fluctuations. Global cues initially pulled markets down, but a late-session recovery worked to mitigate losses. The rupee distinguished itself, advancing nearly ₹2 to 93.02 per dollar, bolstered by intervention from the Reserve Bank of India.
On the corporate side, deal momentum and supportive policies provided a buffer. Emirates NBD moved closer to acquiring a majority stake in RBL Bank, while the government launched a temporary domestic sales window for SEZ units. However, sectoral pressures lingered, particularly in pharma stocks, which fell due to new US tariff concerns, emphasizing the ongoing global issues.
Trump says US is going to send Iran to ‘stone ages where it belongs’, vows attacks for next 2-3 weeks
U.S. President Donald Trump addressed the nation and the world regarding the U.S. stance on the ongoing conflict with Iran, which has been ongoing for over a month now.
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Also Read: Donald Trump fact-checked: Here are the false claims made by the U.S. president during his Iran speech
WTI jumps above Brent as crude rally accelerates on West Asia tensions
With Trump quashing hopes for a prompt resolution to the current West Asia conflict, global equities faced pressure on Thursday (April 2), as oil prices resumed their upward trend after a brief pause.
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Explained – The significant Dalal Street reversal on Thursday and the factors that led to it
GIFT Nifty dropped nearly 500 points, oil surged back to $110 a barrel, Dow futures fell by almost 600 points, and the US Dollar index hit 100; the index decreased nearly 500 points within the first two hours of trading – typical of any risk-off day.
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Rupee gains nearly ₹2 to 93.02 per dollar on RBI action
On Thursday (April 2), the Indian rupee experienced a robust surge against the US dollar, climbing nearly ₹2 from the closing levels on Monday (March 30), thanks to supportive policy measures by the Reserve Bank of India (RBI).
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Also Read: Jayesh Mehta explains what RBI fixed and why the rupee is reacting now
Emirates NBD gets RBI nod for RBL Bank stake acquisition
Emirates NBD has obtained crucial regulatory approvals for its proposed acquisition of a majority stake in RBL Bank, bringing the deal closer to fruition.
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SEZ domestic sales window opens: Govt’s one-year relief targets export slowdown amid global tensions
Stacked containers at the Uiwang Inland Container Depot in Uiwang, South Korea, on Tuesday, Sept. 12, 2023. Photographer: SeongJoon Cho/Bloomberg
Export-driven sectors such as textiles, electronics, consumer durables, automobile parts, chemicals, and medical equipment are poised to benefit from a new government notification operationalizing a significant Budget announcement permitting Special Economic Zone (SEZ) manufacturing units to sell in the domestic market under a structured, time-specific framework.
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From a ₹10 disruptor to a ₹1,200 crore play: How Lahori Zeera is taking on India’s beverage giants
For decades, India’s ₹60,000 crore beverage market has been under the thumb of global players. In 2016, three cousins from Punjab—Nikhil Doda, Saurabh Munjal, and Saurabh Bhutna—set out to challenge this status quo with a product inspired by Indian flavors and priced for mass appeal.
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Nifty Pharma index drops 3% as US tariff fears hit Sun Pharma, peers
The Nifty Pharma index fell by 3.5% on Thursday, April 2, following a significant sell-off in major stocks. Shares of Sun Pharmaceutical Industries declined by 6% amid reports of potential tariffs from the Trump administration on drugmakers. Other pharma stocks also experienced downward movement in sync with India’s largest drug manufacturer.
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Also Read: Trump administration gears up for new tariffs on select drugmakers
Why NASA’s Artemis II Crew is ‘loitering’ 24 hours around Earth before their moonshot
NASA’s Artemis II astronauts are focusing on the next major challenge in their historic mission—a demanding first day in space that will determine if the crew is cleared for their journey to the Moon.
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Government’s Draft Social Media Rules Spark Censorship Fears | Social Media New Rule | India
The government’s draft social media regulations have ignited a significant debate, with critics warning of potential threats to free speech and digital expression. Proposed amendments to India’s IT Rules aim to strengthen oversight on online platforms, influencers, and content creators but also raise concerns about possible censorship.
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