With GDP per capita only $2,500 per capita (as against $12,700 for China) and positive demographic trends, India is arguably at the start of a long wave boom at the same time as China may be ending one, Morgan Stanley said.
The benchmark Sensex gained 0.45 per cent, or 302.3 points, to settle at 67,097.44 for the first time. This was the fifth straight trading session when the Sensex ended at a new peak.
Broader markets also extended losses, as all indices closed in negative.
The Mumbai-based, Wadia group airline, which filed for voluntary insolvency, blamed P&W for the same stating that the US-based engine maker refused to comply with an award issued by the emergency arbitrator earlier.
The prices shot up reflecting the overall higher risk averseness of investors with the rising interest rates.
In a remarkable day for Indian equities, the combined market valuation of all listed companies on the BSE reached the USD 4-trillion milestone for the first time ever on Wednesday.
After a five-day winning run, selling pressure emerged in energy, banking and IT counters on Friday, which dragged indices lower, traders said.
The changes in constituents of the MSCI Global Standard Indexes will take place as of close of August 31, 2023, according to an announcement by index compiler MSCI on Thursday.
The Department of Economic Affairs (DEA) in the Ministry of Finance has amended Foreign Exchange Management (Non-debt Instruments) Rules and notified the ‘Direct Listing of Equity Shares of Companies Incorporated in India on International Exchanges Scheme’.
The public issue will conclude on July 28 and the bidding for anchor investors will open on July 25, according to the red herring prospectus (RHP).