Sensex And Nifty

Sensex surges 167 points to 31,938, Nifty rises 51 points to reclaim 9900 level

The BSE Sensex surged 167 points to 31,938 in early trade today on widespread gains following sustained buying by domestic institutional investors. The NSE Nifty rose 51 points to reclaim the 9,900-level.

Hong Kong's Hang Seng moved up by 0.14 per cent, while Shanghai Composite Index rose 0.32 per cent in early trade today. Japan's Nikkei was, however, slightly down. The US Dow Jones Industrial Average ended 0.12 per cent higher in yesterday's trade.

Retail Inflation

Retail inflation rises to 2.36% in July

Retail inflation rose to 2(point) 36 percent in July this year, chiefly driven by hardening prices in sugar and confectionery items, pan, tobacco, and intoxicants. Retail inflation, as measured by the consumer price index, had stood at 1.46 per cent in June. 

Data released by the Central Statistics Office showed today showed that retail inflation in sugar and confectionery items rose to 8.27 per cent in July, while inflation in pan, tobacco and intoxicants was 6.39 percent. 

Direct Tax Collection

Direct tax collection up 19% till July at Rs 1.90 lakh crore

Direct tax collections till July in the current financial year registered a growth of 19.1 percent. The tax collection during the said period, stands at 1.90 lakh crore rupees which is 19.1 percent higher than the net collections for the corresponding period of last year. 

So far, the growth rate for Corporate Income Tax (CIT) is 7.2 percent and Personal Income Tax (PIT) is 17.5 percent. However, after adjusting for refunds, the net growth in CIT collections is 23.2 per cent while the PIT collections is 15.7 percent. 

Refunds amounting of 61,920 crore rupees have been issued during April to July this year which is 5.1 percent lower than the refunds issued during the corresponding period of last financial year.


Forex reserves surge to record 392.867 bn

India's foreign exchange reserves have surged by 1 (point) 536 billion US Dollars to touch a fresh lifetime high of 392(point) 867 billion dollars in the week ended 28th July 2017. 

An RBI release said that foreign currency assets, a major part of the overall reserves rose by 1.609 billion dollars to 368.759 billion dollars. In the previous week, the reserves had increased by 2.27 billion dollars to 391.33 billion dollars. 

Gold reserves remained unchanged at 20.35 billion dollars. India's special drawing rights with the International Monetary Fund went up by 3.9 million dollars to 1.495 billion dollars, while the country's reserve position declined by 77.2 million dollars to 2.263 billion dollars. 

Account Number Portability

Reserve Bank to announce its third bi-monthly policy review of current fiscal

The Reserve Bank of India will announce the third bi-monthly policy review statement of this fiscal this afternoon. The six members Monetary Policy Committee led by RBI Governor Dr. Urjit Patel began two day meeting in Mumbai yesterday. 

AIR Correspondent reports that the RBI Monetary Policy Committee meeting's outcomes are keenly awaited by all stakeholders including industry and stock markets.