Discover the top business headlines that are trending across the world today!
The stock market began the day on a positive note, with investors anticipating the release of retail inflation data. At 10:26 AM, the S&P BSE Sensex rose 148.85 points to 79,645, while the NSE Nifty gained 46.75 points to 24,188.05. Sectoral indices like Nifty Realty led the charge with a 2% jump, followed by gains in heavyweight sectors such as Nifty IT, Nifty Bank, and Nifty Financial Services.
Top Nifty50 gainers included Trent, Bharti Airtel, ICICI Bank, Sun Pharma, and Tata Steel, while Britannia, HDFC Bank, and Asian Paints were among the laggards.
Dr. V.K. Vijayakumar of Geojit Financial Services highlighted two key market drivers: FII outflows pressuring the market and strong DII inflows providing stability. Equity mutual fund inflows surged to a record Rs 41,887 crore in October, suggesting continued market resilience and potential outperformance by fundamentally strong stocks, especially in the banking sector.
Swiggy, amid its expansion spree, is strengthening its leadership by onboarding top executives from e-commerce giants Flipkart and Amazon. Over the last four months, Swiggy has recruited several senior leaders, including Shalabh Shrivastava and Hari Kumar G, who now lead Swiggy Instamart as Chief Business Officer and CEO, respectively. These hires bring expertise in high-value categories like electronics and fashion, aligning with Swiggy’s strategy to enhance revenue through initiatives like increasing average order values (AOVs). The company has also launched projects like 'Yello' for professional services and 'Rare,' a premium membership, to boost growth. Swiggy’s much-anticipated IPO, oversubscribed threefold, is set for its stock market debut with a modest premium over its upper price band. This move underscores Swiggy's commitment to scaling its operations and capturing greater market share in India’s competitive food delivery sector.
Reliance Industries plans to invest Rs 65,000 crore in Andhra Pradesh, marking its largest clean energy investment outside Gujarat. The initiative aims to establish 500 compressed biogas plants over five years, each costing Rs 130 crore, primarily on wastelands. This project is expected to generate approximately 2.5 lakh direct and indirect employment opportunities.
The agreement was reportedly discussed between Anant Ambani, leading RIL's clean energy efforts, and Andhra Pradesh IT Minister Nara Lokesh. An MoU will be signed with the Andhra Pradesh Industries Department in Chief Minister N. Chandrababu Naidu’s presence.
This investment aligns with Andhra Pradesh’s integrated clean energy policy, which offers significant incentives, including a 20% capital subsidy on investments in biogas plants, SGST reimbursement, and electricity duty exemptions for five years, promoting biofuel advancements in the state.
On Tuesday, the US dollar hovered near a four-month high against major currencies, buoyed by optimism surrounding the incoming Donald Trump administration. The dollar index, which gauges the currency’s strength against six peers, inched up 0.07% to 105.49 after hitting 105.70 on Monday, its highest since July 3. Meanwhile, bitcoin extended its rally, setting a new record at $89,637 (approximately Rs. 75 lakh), as Trump expressed ambitions to position the US as a global crypto leader. Analysts, such as Kyle Rodda from Capital.com, predict bitcoin could close the year near $100,000, citing robust market trends. The euro and yuan remained subdued, reflecting concerns over potential US tariffs targeting Europe and China. The dollar's strength is driven by expectations of US economic outperformance and aggressive trade strategies, signaling confidence in Trump’s economic policies.
