Macro

Former RBI chief warns against exhausting forex reserves to defend the rupee, urging policymakers to prioritise economic fundamentals over a specific exchange-rate target.

The Federation of LPG Distributors of India (FLDI) and All India LPG Distributors Federation (AILDF) - the two main bodies that claim membership of most LPG distributors in the country - distanced themselves from the proposed protest and strike call given by a smaller splinter group.

As rising costs put pressure on consumers and restaurant operators, McDonald's India operator Westlife Foodworld is refining its approach to value, pricing and customer growth.

Jefferies expects higher government salaries and potential arrears under the 8th Pay Commission to support discretionary spending in FY28. Implementation timing remains uncertain, while a weak monsoon and fading GST-related benefits could weigh on consumption.

"At some point, a larger pass-through of input costs to output prices may materialise. Under these circumstances, it is conceivable that a further increase in the policy rate might be needed," RBI Deputy Governor Poonam Gupta said.

Employee unions have reiterated the call for 3.833 as fitment factor under the 8th Pay Commission. When compared against the way the last pay panel measured its own award, that works out to about 10 times the real raise employees got in 2016.

The finance minister said easy liquidity has contributed to Indian equities' underperformance even as economic fundamentals remain sound. Foreign investors have sold more than $33 billion in direct Indian equities this year, while capital has flowed towards AI-linked markets such as Taiwan and South Korea.

A week of competing forces shaped markets, as AI trade jitters, RBI intervention and signals on capital gains tax and STT intersected with geopolitical risks, shifting oil prices and a resilient set of corporate earnings.

The Infosys co-founder says payment system participants need sustainable revenue models as India expands its digital payments infrastructure.

Stock Market Live Highlights: Among sectors, losses were seen in Nifty Pharma, Nifty Metals, Nifty Auto, Nifty Realty and Nifty Private Bank indices, while Nifty IT, Nifty FMCG, Nifty Oil & Gas and Nifty Media indices ended in the green.

IMF India Outlook: The revision by IMF follows the Reserve Bank of India's (RBI) latest monetary policy meeting, at which the central bank raised its GDP growth estimate for the current financial year to 7.1%.

With a 'Super El Nino' building, reservoirs are below 2022 and the 10-year average, causing worry for rabi.