Business

Stock market today: The NSE Nifty decreased by 32.85 points or 0.13 per cent to close at 25,169.50. The BSE Sensex finished 57.87 points or 0.07 per cent lower at 82,102.10, after moving between 82,370.38 and 81,776.53 during the session.

Stock market recommendations: Mirae Asset Sharekhan’s Somil Mehta recommends buying Fortis and ONGC. Fortis, exhibiting a flag pattern breakout, is projected to reach a target of 1020, while ONGC, emerging from a bullish consolidation, aims for 257.

A sudden surge in H-1B visa fees, now at $100,000 annually, has sent shockwaves through the Indian IT sector, impacting market sentiment and ADRs of major firms like TCS and Infosys. This unexpected hike adds to existing challenges of weak earnings, slowing global demand, and AI-driven revenue concerns, potentially accelerating foreign investor pullout from Indian…

The Economic Advisory Council to the Prime Minister urges private companies with substantial capital reserves to invest in India’s growth, emphasizing that investments and exports are crucial drivers. A Reserve Bank of India article projects a significant rise in private capital investment, supported by strong macroeconomic factors.

A recent CAG report reveals that states’ committed expenditures, including salaries, pensions, and interest payments, have surged significantly in the last decade, straining state budgets. Revenue expenditure dominates total spending, limiting fiscal flexibility. Many states missed their fiscal targets, relying on Finance Commission grants, highlighting the need for fiscal prudence amid rising debt and subsidy…

Foreign portfolio investors have significantly withdrawn from Indian equities in September, totaling Rs 7,945 crore, influenced by global uncertainties and geopolitical tensions. Despite a brief buying spell after the US Federal Reserve’s rate cut, FPIs remain net sellers. Conversely, Indian debt markets experienced positive inflows, with investors closely monitoring upcoming macroeconomic data and tariff negotiations.