'Whenever people say to me that all my work looks unique, I say to them originality is the art of concealing your source.' 'You can't see the sources that I take from because usually, they are Indian.' 'But then Indians don't find my work Indian.'
Foreign investors have continued selling in the Indian market, pulling out a massive Rs 85,790 crore (around $10.2 billion) from equities this month due to Chinese stimulus measures, attractive stock valuations, and the elevated pricing of domestic equities. October is turning into the worst-ever month in terms of foreign fund outflows. In March 2020, FPIs withdrew Rs 61,973 crore from equities.
Equity investors will track the trading activity of foreign investors, global trends and ongoing earnings results for further cues, and benchmark indices may continue to witness consolidation in a holiday-shortened week amid the monthly derivatives expiry, analysts said. Markets fell sharply last week amid massive foreign capital outflows and dismal Q2 earnings so far. Weakness in the markets might continue in the near term amid cautiousness among investors ahead of the US presidential election early next month, an expert said.
Noting that Israel is not interested in escalation of situation in the Middle East, country's Ambassador to India Reuven Azar said on Saturday that Israel defence forces attacked military targets in Iran 'in a very precise way' and that 'there is a price to pay when you attack the state of Israel'.
India's 59kg woman grappler Anjli clinched a silver medal, while free-style exponent Chirag assured the country of at least a second-place finish when he reached the 55kg final in the in the U23 World Championships in Tirana, Albania.
State news agency IRNA said that Iran has successfully shot down 'adversial targets' in the airspace around Tehran province. Iranian state television noted hearing six loud sounds resembling explosions in parts of the capital, with the source of the noises currently unverified.
India on Saturday said it was deeply concerned over the 'evolving escalation' in West Asia and urged all sides to exercise restraint and return to the path of dialogue and diplomacy.
The IDF noted that the strikes are being conducted in response to "relentless attacks" from Iran and its proxies since October 7, adding that Israel has the "right and the duty to respond."
In a joint declaration issued after the 16th BRICS Summit in the Russian city of Kazan attended by Prime Minister Narendra Modi and Chinese President Xi Jinping, among others, the leaders reiterated unequivocal condemnation of terrorism in all its forms and manifestations while reaffirming that it should not be associated with any religion, nationality, civilisation or ethnic group.
The 16th Brics Summit beginning Tuesday in Kazan, Russia, is expected to see more focus on creating a sharper energy policy for Brics that ensures closer partnership among members in both energy security and energy transition, official sources said. The same is expected to be a part of the Kazan declaration, currently being negotiated, they added.
Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the economy and the stock market in recent weeks. If the trend doesn't reverse, this will be the first time that overseas funds will yank out more than $10 billion from Indian equity markets in a month.
China's foreign ministry on Monday parried questions on a possible meeting between Prime Minister Narendra Modi and President Xi Jinping on the sidelines of the BRICS summit in Russia this week.
Kazan in Tatarstan, south west Russia, is where the annual BRICS summit will be held this week.
Quarterly earnings from corporates, global trends, and trading activity of foreign investors will guide market sentiment this week, analysts said, adding that benchmark indices may face volatile trends. "The upcoming release of Q2 results will be closely watched, providing insights into corporate performance. "Meanwhile, the escalating tensions between Israel and Iran introduce a significant geopolitical risk, potentially leading to increased oil prices and market volatility.
The leak occurs at a particularly delicate time in US-Israel relations and is likely to infuriate Israel, which has been preparing to retaliate against Iran following a missile barrage on October 1.
Netanyahu's response came after a drone was aimed at his residence in the Israeli town of Caesarea. He and his wife Sara were not at home at the time of the attack.
After depreciating 0.32 per cent against the dollar in October so far, the rupee is expected to hold ground against the greenback in the current quarter on the back of robust inflows. According to the median of a Business Standard poll of 10 respondents, the rupee is seen trading around 84 per dollar till the end of December. "In India's case, at least the bond and cash related inflows will continue.
Israel Prime Minister Benjamin Netanyahu's private residence in Caesarea was targeted in a drone attack from Lebanon earlier this morning, The Times of Israel reported, citing Israel PM's Office.
Putin said that the Indian leader had "aptly" noted that it is "not an anti-western one but a non-western one".
Putin expressed concern over the situation in Gaza, and said Palestinian President Mahmoud Abbas has been invited to BRICS events.
Khalil al-Hayya, Sinwar's deputy and leader of Hamas' delegation during ceasefire negotiations, emphasised that the prisoners' return would not happen before the end of the aggression, AP reported.
The 18 companies sanctioned include Marshall Islands-registered Changtai Shipping and Motionavigations Limited and UAE-based Indo Gulf Ship Management.
The prime minister also instructed his aides to inform the families of Israeli hostages about the death of the Hamas chief.
'He is convinced that this will help him in the next election.' 'But as we know, the best laid plans of mice and men can go awry.'
'The work of a film-maker is going out and making films.' 'And if you are in prison for 15 years, you can't make films.'
State-owned Indian Strategic Petroleum Reserves Ltd (ISPRL), which operates India's strategic crude oil storage, will make awards by December to lease around 1 million tons of crude oil storage space (7.3 million barrels) at two of the country's three existing Strategic Petroleum Reserves (SPRs), around a fifth of the total SPR capacity. This will enable the refilling of crude caverns even as escalating hostilities in the Gulf threaten disruptions in crude supplies, two industry sources said.
It is the first time in nearly nine years that India's foreign minister travelled to Pakistan even as the ties between the two neighbours remained tense over the Kashmir issue and cross-border terrorism emanating from Pakistan.
A year after a Hamas attack against Israel on October 7 and the ensuing Israeli invasion of the Gaza Strip, India's trade with most West Asian countries has largely escaped any major disruption, except with countries like Israel, Lebanon, and Jordan. However, repeated flare-ups of geopolitical tensions in the region continue to drive up shipping and logistics costs.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
Foreign investors turned net sellers in October, withdrawing shares worth Rs 58,711 crore in the month so far owing to escalating conflict between Israel and Iran, a sharp rise in crude oil prices, and the strong performance of the Chinese market. The outflow came following a nine-month high investment of Rs 57,724 crore in September. Since June, Foreign Portfolio Investors (FPIs) have consistently bought equities, after withdrawing Rs 34,252 crore in April-May.
To me he always symbolised the sincere, confident, face of a Bharat whose rise is unstoppable. Ratan Tata was a Rishi who was unquestioningly trusted by people who never saw him and never met him, asserts Tarun Vijay, the former BJP MP.
The Israel Defence Forces (IDF) said on Saturday that multiple rocket launches have been identified from Lebanon since the Yom Kippur fast started. Two UAVs were identified crossing from Lebanon into central Israel, according to IDF. A hit on a civilian building was identified and one UAV was intercepted.
The group has campaigned over the years for the abolition of nuclear weapons.
The attack is the latest in a string of violence in Pakistan. It comes less ahead of the Shanghai Cooperation Organisation's summit to be held in the national capital.
Dr Nagesh Kumar, one of the three new MPC members, wanted the MPC to reduce the repo rate by 25 basis points to 6.25%.
The three day MPC meeting began on Monday and the decision will be announced on Wednesday by RBI Governor Shaktikanta Das.
As the situation in West Asia continues to escalate, Yemen launched a barrage of ballistic missiles towards Israel on Monday, Israel Defence Forces (IDF) said.
The banned Baloch Liberation Army (BLA) claimed responsibility for the attack, saying the blast was a suicide attack targeting a convoy of Chinese engineers and investors leaving the Jinnah International Airport.
It was learnt that 35 registered players, including seven foreigners, wrote to the club that they didn't wish to go to Iran.
Flights from Delhi or Bengaluru, while they may still fly over Iran, depending on the route, have alternative paths that may take them through Central Asia or northern routes.
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