Author: Staff Writer

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Corporate

Sensex surges 505 points, Nifty closes above 24,350

Indian stock markets ended Friday on a strong note, with benchmark indices posting solid gains amid positive global cues and improved investor sentiment.

The BSE Sensex jumped 505 points to close at 78,493.54, while the NSE Nifty50 advanced 157 points to settle above the 24,350 mark at 24,353.55. The rally marked another positive session for domestic equities.

Markets remained in the green through most of the day as investors reacted positively to easing geopolitical concerns and softer crude oil prices. Lower oil prices are seen as beneficial for India, as the country depends heavily on imports to meet its energy needs.

Supportive global cues also helped sentiment. Stable overseas markets and a calmer risk environment encouraged buying across several sectors.

Among the top gainers were Hindustan Unilever (HUL), Power Grid, and Reliance Industries, which provided strong support to the benchmark indices. Buying interest was also seen in select FMCG, banking, and utility stocks.

On the other hand, Infosys, Wipro, and Tata Motors were among the notable losers of the day, with some profit booking visible in IT and auto shares.

Broader markets also joined the rally, with mid-cap and small-cap stocks ending higher, reflecting wider participation from retail and institutional investors.

Analysts said improving global sentiment, a stronger rupee, and easing crude prices helped lift market confidence. Continued buying by investors in defensive and large-cap stocks also added strength to the move.

They added that while the trend remains positive, markets could remain volatile in the coming sessions as investors track global developments, quarterly earnings, and commodity prices.

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Beyond

Rupee rises to 92.86 against US dollar

The Indian rupee strengthened in early trade on Friday, gaining around 25–28 paise to touch 92.86 against the US dollar, as supportive measures from the Reserve Bank of India (RBI) helped ease demand pressure in the foreign exchange market.

The gain came after the RBI reportedly introduced a special dollar access window for state-run oil marketing companies. Instead of directly buying dollars from the spot market, firms like Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum can now source foreign currency through a structured credit arrangement. This is aimed at reducing sudden spikes in dollar demand.

Traders said this step helped calm sentiment in the currency market by lowering immediate pressure from one of the biggest sources of dollar buying in India. As a result, the rupee opened stronger and held onto gains in early deals.

Sentiment was also mildly supported by stable domestic equity markets and slightly improved global risk appetite. However, gains were limited as the US dollar remained firm globally, keeping emerging market currencies under some pressure.

Market participants noted that the RBI’s move is not about fixing a level for the rupee, but about reducing volatility and ensuring smoother forex market functioning. By spreading out dollar demand, the central bank aims to prevent sharp swings in the currency.

Also Read: Gold rises to ₹1,55,580, Silver slips to ₹2,69,900

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Corporate

Sensex rises over 250 points, Nifty climbs above 24,250

Indian equity markets opened Friday’s session on a firm note, extending their recent upward momentum. The Sensex rose over 250 points in early trade, while the Nifty50 moved back above the 24,250 level, supported by selective buying in heavyweight stocks.

The positive start was driven by improving global sentiment as geopolitical tensions showed signs of easing and crude oil prices softened from recent highs. Lower oil prices helped ease inflation concerns, lifting overall risk appetite in domestic markets.

Global cues also supported the upmove. US markets closed steady in the previous session, while Asian indices traded mostly in the green, adding to optimism across risk assets.

On the sectoral front, buying interest was seen in IT, banking, and energy stocks. Heavyweights such as Reliance Industries, HDFC Bank, and Infosys contributed significantly to the gains, helping push benchmark indices higher.

However, not all sectors participated in the rally. Auto and FMCG stocks saw mild profit booking, with stocks like Maruti Suzuki, ITC, and Tata Motors among the notable laggards in early trade.

Broader markets remained stronger than benchmarks, with mid-cap and small-cap indices outperforming, indicating sustained retail participation and wider market strength beyond large-cap names.

Among gainers, financial services, oil & gas, and select technology stocks saw steady buying. On the losing side, select consumption-linked and automobile counters came under pressure, limiting broader upside in some segments.

Market experts added that while sentiment has improved, volatility is likely to persist as investors track geopolitical developments, crude oil trends, and upcoming corporate earnings.

Also Read: Wipro secures $71 mn Alpha Net contracts deal

Categories
Technology

Amazon bets on AI retail store in India

Amazon has launched an AI-focused online store in India, marking a strategic push to capitalise on the fast-growing demand for artificial intelligence-powered consumer electronics.

The new storefront groups together AI-enabled products across categories such as smartphones, laptops, televisions, and home appliances, reflecting how AI is becoming central to the next wave of tech upgrades.

Industry trends show that consumers are no longer treating AI as a niche feature. Instead, it is increasingly influencing buying decisions, especially in premium and mid-range devices. Searches for AI-enabled products have seen strong year-on-year growth, with computing devices and smart entertainment products leading the surge.

A notable shift is the geographic spread of this demand. A large share of interest is now coming from tier-2 and tier-3 cities, pointing to deeper market penetration and a broader digital adoption curve across India.

The AI Store is designed to align with this shift by simplifying discovery. It explains AI features in practical terms—how devices improve efficiency, personalise usage, and automate everyday tasks—rather than focusing purely on specifications.

This approach also helps address a key challenge in the AI device market: consumer awareness. While many products advertise AI capabilities, users often struggle to understand their real value. By making these benefits clearer, Amazon is attempting to bridge that gap.

The launch comes even as the electronics sector faces rising input costs and supply chain pressures. Despite this, the company is positioning AI as a long-term growth driver, expecting continued demand for smarter, more adaptive devices.

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Corporate

BBC plans 2,000 job cuts as cost reduction drive

The BBC is preparing to cut up to 2,000 jobs as part of a wide-ranging plan to bring down costs and steady its finances over the next two years. The reduction will impact a significant portion of its workforce and is expected to be one of the broadcaster’s biggest restructurings in years.

The decision comes as the organisation faces growing financial strain from several directions at once. Inflation has pushed up operating costs, while income from the TV licence fee has been under pressure. At the same time, commercial revenues have not grown enough to offset the gap, especially as more audiences move away from traditional broadcasting.

BBC management has set a target of cutting around 10% from its overall budget, which translates into savings of roughly £500 million. Leaders say the changes are necessary because spending has been rising faster than income, creating an unsustainable imbalance.

Interim Director-General Rhodri Talfan Davies told staff the decision was difficult but unavoidable. He said the organisation needed to act now to protect its long-term future and ensure it can continue delivering public service content across TV, radio, and digital platforms.

The job cuts are expected to be rolled out over the next two years, with departments likely to be reorganised as part of the process. While the BBC has not detailed exactly which areas will be most affected, internal discussions suggest a broad restructuring rather than isolated reductions.

Also Read: Wipro secures $71 mn Alpha Net contracts deal

Categories
Corporate

Wipro secures $71 mn Alpha Net contracts deal

Wipro has announced a deal to acquire select customer contracts from US-based Alpha Net Consulting for up to $70.8 million, as it looks to expand its capabilities in technology and consulting services.

Under the agreement, Wipro will take over a set of key client contracts along with related teams, giving it access to new customers and strengthening its presence in areas like software development, data engineering, and AI-led solutions.

The deal is expected to be completed by June 2026, subject to customary approvals. A part of the payment will be linked to future performance, meaning the final payout may depend on how the acquired business performs over time.

Alpha Net Consulting, based in California, works in areas such as enterprise applications, digital services, and managed solutions. By bringing these contracts under its fold, Wipro aims to build on its existing strengths and offer more integrated services to global clients.

The contracts involved in the deal generated around $37 million in revenue last year, providing an immediate addition to Wipro’s business.

The company said the move is part of its broader strategy to focus on high-growth areas like artificial intelligence, cloud, and digital transformation, where demand continues to rise as businesses modernise their operations.

For Wipro, this is another step in its approach of making targeted, smaller acquisitions to strengthen specific capabilities rather than large-scale takeovers.

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Categories
Beyond

IMF cuts global growth, India holds at 6.5%

The International Monetary Fund (IMF) has lowered its global growth forecast for 2026, while keeping India’s outlook steady at 6.5%, highlighting the country’s resilience in a slowing world economy.

In its latest update, the IMF cut global growth projections to around 3.1%, citing rising geopolitical tensions, especially in West Asia, and higher oil prices impacting economies worldwide. The report also warned that growth could weaken further if conflicts intensify or energy prices remain elevated.

Despite these challenges, India continues to stand out. The IMF expects the country to maintain strong growth, driven by robust domestic demand, steady consumption, and ongoing investment activity. This puts India on track to grow at nearly double the global average, making it one of the fastest-growing major economies.

The report noted that India’s economic stability and internal strength are helping cushion the impact of global uncertainties. Improvements in trade conditions and consistent policy support have also contributed to sustaining growth momentum.

At the same time, the IMF flagged risks for the global economy. Rising crude oil prices, supply disruptions, and uncertainty around key trade routes like the Strait of Hormuz could keep markets volatile. Inflation pressures are also expected to persist in several countries due to higher energy costs.

While advanced economies may see slower growth, emerging markets like India are expected to perform relatively better, supported by domestic factors.

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Beyond

Gold near ₹1.55 lakh, Silver above ₹2.70 lakh

Gold and silver prices in India recorded a sharp rise on 16 April 2026, tracking firm international trends and renewed safe-haven demand from investors.

In domestic trade, gold prices moved higher, with 24-carat gold hovering near ₹1.55 lakh per 10 grams, reflecting strong gains in both spot and futures markets. Silver also surged sharply, with rates crossing the ₹2.70 lakh per kilogram mark in some MCX-linked trading ranges, marking one of the stronger single-session up-moves in recent weeks.

The rally in bullion was supported by global factors, including a weaker US dollar and easing US Treasury yields, which improved demand for non-yielding assets like gold. Investors also increased exposure to precious metals amid continuing geopolitical uncertainty and expectations of shifting global interest rate trajectories.

Silver outperformed in percentage terms during parts of the session, supported by both industrial demand expectations and speculative buying in futures contracts. Analysts noted that silver tends to show sharper volatility compared to gold, leading to stronger upside moves during bullish phases.

On the domestic front, demand remained firm ahead of Akshaya Tritiya, a key seasonal buying period in India. Jewellers reported steady retail interest, with customers showing higher engagement in advance bookings and price-lock schemes despite elevated price levels.

On MCX, bullion futures remained firmly in positive territory throughout the session, with traders actively participating in both gold and silver contracts.

Also Read: Sensex jumps over 250 points, Nifty above 24,300

Categories
Leaders

Anthropic brings in Novartis CEO Narasimhan to board

Artificial intelligence company Anthropic has appointed Vas Narasimhan, the chief executive of Novartis, to its board of directors in a move that signals its growing ambitions in the healthcare space.

Narasimhan’s appointment brings a fresh perspective from the pharmaceutical industry, marking a step towards combining advanced AI capabilities with real-world healthcare applications. His experience leading one of the world’s largest drugmakers is expected to help Anthropic better understand how its technology can be used in areas such as drug discovery, clinical research, and patient care.

The development comes at a time when Anthropic is expanding beyond building AI models to focusing on practical use cases. The company, known for its Claude chatbot, has been exploring ways to apply AI in life sciences, where it can help speed up the development of new medicines and improve the efficiency of clinical trials.

Bringing Narasimhan onto the board is also seen as a strategic move as Anthropic prepares for its next phase of growth, including a potential initial public offering (IPO). Strengthening its leadership with industry experts is likely aimed at building credibility and ensuring the company can navigate complex, highly regulated sectors like healthcare.

Narasimhan’s background in managing global healthcare operations and working within strict regulatory frameworks is expected to play a key role in guiding Anthropic’s approach to responsible AI use. As AI becomes more deeply integrated into sensitive industries, having domain expertise at the board level is increasingly important.

The appointment reflects a broader trend where technology companies are collaborating more closely with traditional industries to unlock new opportunities. In healthcare, especially, AI is being seen as a powerful tool to reduce costs, speed up innovation, and improve outcomes.

Also Read: Gold at ₹1,53,940 per 10 gm; Silver at ₹2,54,900

Categories
Beyond

Gold at ₹1,53,940 per 10 gm, Silver at ₹2,54,900

Gold and silver prices showed mixed movement in domestic markets on April 15, 2026, as global cues and shifting investor sentiment kept bullion trade volatile.

Gold prices rose marginally by ₹10 to trade around ₹1,53,940 per 10 grams in the physical market, reflecting mild buying interest. On the other hand, silver prices declined by ₹100, slipping to around ₹2,54,900 per kilogram, indicating some weakness after recent gains.

On the Multi Commodity Exchange (MCX), both metals witnessed fluctuating trends throughout the session. Gold traded in a narrow range as investors remained cautious, while silver showed slight downward pressure after opening higher earlier in the day.

The mixed trend in bullion prices was largely influenced by global developments. Hopes of easing geopolitical tensions, particularly linked to possible US–Iran talks, reduced the appeal of gold as a safe-haven asset. At the same time, softer crude oil prices helped ease inflatio concerns, limiting strong upward momentum in precious metals.

Internationally, gold prices remained under pressure after touching recent highs, as improving global risk appetite prompted investors to shift towards equities. A stronger US dollar also weighed on gold prices, making it more expensive for holders of other currencies.

Silver, which has both industrial and investment demand, showed relative volatility. While global industrial demand continues to provide support, profit booking at higher levels led to a slight decline in domestic prices.

In major retail markets across India, gold rates remained largely stable with minor variations depending on local demand and taxes. Prices of 22-carat and 24-carat gold continued to hover near recent levels, reflecting steady consumer demand.

Market experts noted that bullion prices are currently moving within a limited range, tracking global economic signals, currency movements, and geopolitical developments. Investors are also closely watching interest rate cues from major central banks, which could influence future price direction.

Also Read: Sensex jumps over 1,300 points, Nifty surges past 24,200 on global cues