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Gold, however, stole the spotlight! Prices hit a record high as rising tariff tensions pushed investors toward safe-haven assets. Gold is up a staggering 31% for the year—but wait, silver did even better, delivering over 35% returns.
Meanwhile, trade tensions between India and the US are heating up. And it’s not just about tariffs—sources say the US is pushing India to drop non-tariff barriers like data localisation and differential tax treatment. With reciprocal US tariffs expected from April 2, India is reportedly planning to pause the tariff showdown by offering to buy more US energy and defence equipment.
While the trade war brews, China’s President Xi Jinping is playing the charm card. In a high-profile summit in Beijing, Xi promised to improve market access to attract global investors. Big names like AstraZeneca, Hitachi, and HSBC were among the 40 multinational leaders attending the event.
Closer to home, CNBC-TV18’s exclusive newsbreak was confirmed after India’s Cabinet approved a ₹23,000 crore PLI scheme to boost electronics component manufacturing. Interestingly, the industry had pitched for a much higher ₹40,000 crore outlay.
In a tragic turn of events, a powerful earthquake and aftershocks caused widespread devastation across Myanmar, Thailand, Vietnam, and parts of China. Myanmar has declared a state of emergency after Mandalay, its second-largest city, suffered severe damage. In Bangkok, an under-construction high-rise collapsed, leaving many workers feared trapped under the rubble.
Back in business, LIC is on the hunt for a minority stake in the health insurance space. Sources reveal that Niva Bupa, Star Health, and Manipal Cigna are on the shortlist, with due diligence already underway.
And in some relief for traders, the NSE has decided to put off plans to shift its weekly F&O expiry to Monday. This comes after SEBI suggested exchanges should stick to Tuesday or Thursday. No surprise—shares of BSE rallied on the news.
What a week, right?
Markets close | Sensex falls 192 points, Nifty at 23,519 as indices fail to hold gains
Indian shares failed to hold on to its opening gains and ended Friday’s trading session in the red, weighed down by losses in information technology and automobile stocks. The 30-share benchmark BSE Sensex declined 192 points to 77,415, while the broader 50-share NSE Nifty fell 73 points to 23,519. Banking gauge, the Nifty Bank slipped 11 points to 51,565, and the Nifty Midcap index dropped 167 points to 51,672.
Most sectoral indices also traded lower as market sentiment was dented following the National Stock Exchange’s (NSE) decision to postpone changes to the expiry day for derivatives contracts.
Despite Friday’s losses, the market posted gains for the second consecutive week, led by strength in information technology and financial stocks. Sensex and Nifty rose 1% each, Nifty IT gained over 2%, and Nifty Bank advanced nearly 2%, while the Midcap Index remained flat for the week.
Silver Prices Surge: Weekly gains push rates to ₹1.01 lakh per kg
Silver saw a volatile trading week, reaching ₹1,05,100 per kg on March 20 before correcting midweek. However, renewed buying interest pushed prices higher by Friday.
In the global market, silver traded nearly 1% higher at $35.42 per ounce in New York.
Silver remains one of the top-performing assets of FY25, delivering a 35.56% return, surpassing gold (+31.37%), Nifty (+5.29%), and Sensex (+4.96%).
Exclusive | US puts pressure on India to ease non-tariff barriers amid reciprocal tariff threats
The United States is pushing India to relax non-tariff barriers, including local content requirements, differential tax treatment, and quality control orders.
Despite mounting pressure from the White House, India may not respond with reciprocal tariffs immediately but could offer increased purchases of US oil and defence equipment to delay further tariff action, according to sources.
Chinese President Xi Jinping meets with global CEOs as investment wanes
China’s President Xi Jinping met with global CEOs in Beijing on Friday, as the government tries to woo foreign firms whose investment could give the ailing Chinese economy a boost and help insulate it against simmering geopolitical tensions.
Beijing has struggled to assuage foreign investors’ concerns over the durability of the $18 trillion economy, while longstanding unease over China’s tightening regulations, abrupt crackdowns on foreign firms, and an uneven playing field favouring state-owned companies clouds business sentiment.
CNBC-TV18 newsbreak confirmed: Cabinet approves ₹22,919 crore electronics PLI scheme
In a major push for domestic electronics manufacturing, the Union Cabinet on Friday (March 28) cleared a ₹22,919 crore Production-Linked Incentive (PLI) scheme. CNBC-TV18 had reported on this development on March 27, quoting sources.
The scheme, finalised by the Ministry of Electronics and Information Technology (MeitY), is focused on increasing local production of key electronic components. The PLI scheme focused on boosting domestic production of sub-assemblies and bare components like PCBs, capacitors, fuses, and resistors, Union Electronics and IT Minister Ashwini Vaishnaw said.
The scheme aims to complement semiconductor manufacturing and strengthen India’s supply chain for key electronic components, reducing dependence on imports.
Earthquake Today Live Updates: Myanmar hospital gives initial quake toll of ‘about 20’ dead
A massive earthquake hit Myanmar on Friday at around 1:21 p.m. local time, registering a magnitude of 7.7. The intense shaking rattled buildings and sent waves of fear through Myanmar, spilling over into nearby Thailand and Vietnam. Residents in these areas felt the ground tremble, prompting quick evacuations and leaving communities on edge as the powerful quake disrupted the region.
The United States Geological Survey (USGS) confirmed the 7.7 magnitude quake began 16 kilometres northwest of Sagaing, a central Myanmar city. Occurring at a shallow depth of 10 kilometres, the tremor’s closeness to the surface amplified its effects. This explains why the shaking was so strong, impacting not just Myanmar but also reaching across borders into neighbouring countries with noticeable force.
LIC conducting due diligence on three health insurers, announcement unlikely by March 31
Life Insurance Corporation of India (LIC), the country’s largest life insurer, is exploring the acquisition of a significant stake in a health insurance company. Earlier this month, LIC CEO Siddhartha Mohanty stated that the insurer was in advanced discussions and could make an announcement before March 31.
However, sources familiar with the matter told CNBC-TV18 that LIC is currently conducting due diligence on three health insurers—Star Health Insurance, Niva Bupa Health Insurance, and Manipal Cigna Health Insurance—for a potential stake acquisition.
Market regulator SEBI proposes limiting F&O expiry days
The Securities and Exchange Board of India (SEBI) has proposed a uniform single-day expiry for equity derivatives across exchanges, aiming to provide predictability, reduce concentration risk, and ensure market stability.
In a consultation paper, SEBI recommended limiting expiry days to either Tuesday or Thursday for all equity derivatives on a given exchange. The move is designed to streamline expiry schedules while preventing excessive trading volatility around multiple expiry days.
NCLAT upholds CCI order: Google’s Play Store payment system anti-competitive
The National Company Law Appellate Tribunal (NCLAT) has upheld the Competition Commission of India’s (CCI) ruling that Google’s Play Store payment system is anti-competitive.
As part of its decision, NCLAT upheld CCI’s directive requiring Google to allow alternative payment systems for apps and in-app purchases. It also confirmed that Google cannot discriminate against other UPI-based payment systems for these transactions.
However, the tribunal reduced the penalty imposed by CCI from ₹936 crore to ₹216 crore, with a 30-day deadline for payment.
Delhi HC fines restaurant associations ₹1 lakh, upholds ban on mandatory service charge
The Delhi High Court has imposed a ₹1 lakh fine on restaurant associations that challenged the Central Consumer Protection Authority (CCPA) guidelines prohibiting mandatory service charges. The court ruled that restaurants cannot levy service charges on food bills, adding that such a practice violates the Consumer Protection Act.
Upholding the validity of the CCPA guidelines, the court reaffirmed that restaurants cannot add service charges to bills. The CCPA had previously directed restaurants to refrain from including service charges without consumer consent to ensure transparency in billing.
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