Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in green on Saturday as part of a special trading session. BSE Sensex rose over 100 points and Nifty50 was above 22,500.

Stock market today: The special live trading session is being conducted in accordance with Sebi guidelines, which require testing the preparedness for handling unexpected disasters from the main trading centre in Mumbai.

A recovery in rural stocks is also positive news for Indias broader stock market, which has seen significant growth in recent years, primarily driven by investment-heavy firms reaping the benefits of increased government infrastructure spending. Additionally, abundant rainfall can help the central bank's efforts to control inflation by stabilizing food prices, thereby enhancing the prospects for India's economic growth and corporate earnings.

The Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve this year. The benchmark S&P 500 edged higher after paring losses while the Nasdaq fell, but both chalked up a fourth straight week of gains. The Dow rose to end the fifth week of advances in a row.

US prosecutors arrested an American woman and a Ukrainian man for aiding North Korea-linked IT workers in obtaining remote-work jobs at hundreds of US firms, including Fortune 500 companies and banks, and stealing identities to generate revenue for North Korea in violation of sanctions.

Insolvency and Bankruptcy Board of India study reveals recovery rate link to resolution time. Lenders recover 49.2% in 330 days, dropping to 36% for longer cases. Delays, triggered by litigations, erode distressed defaulter value, reducing creditor recovery value, as highlighted by IBBI chairperson Ravi Mital. IBC aims at business preservation.

Govt, Trai, and consumer affairs ministry are revising regulations to counter pesky calls and unsolicited commercial messages, tightening mechanisms.

Trai plans to regulate OTT services like WhatsApp and Facebook, excluded from the new telecom act. Chairman Lahoti announced open discussions on the matter at a symposium on 'Strengthening Atmanirbhar: Securing domestic industry and technology' by the Parliament. The consultation paper, licensing regime, and IT Act are key aspects to be considered.

Serum Institute of India (SII) invested in IntegriMedical, a med tech firm, for needle-free injection system tech. The partnership aims to provide 'health for all' and 'transform healthcare globally' by ensuring patient comfort, reducing needle-stick injuries, and enhancing liquid medication efficacy with N-FIS.

UN's World Economic Situation and Prospects report revised India's 2024 GDP growth to 6.9%, surpassing China. The IMF and RBI also raised growth forecasts. India's economy is a bright spot with strong domestic demand, robust exports, and efforts to control consumer price inflation, particularly in the face of elevated food prices in Q1 2024.

Odisha's high inflation contrasts with Delhi's lower rates, influenced by volatile vegetable prices and RBI's insights on food price uncertainties and wheat production impact.

Dehydration and Electral sales surge in India's pharma retail market in April, per IQVIA data. Cardiac, gastroenterology, and dermatology therapies show growth. Poor sales of respiratory and anti-infectives affected market in March. Gastroenterology medicines like Pan, Pan D, liver therapies like Liv-52, and Udiliv 28 contribute to growth.

Finance minister Nirmala Sitharaman advocated for higher manufacturing investment, contrary to some economists' advice. She emphasized collaboration with the private sector and addressed Raghuram Rajan's support for a services-led strategy.

Employees should understand their employer's EPF setup for optimal tax benefits. Contributions to EPF accounts managed by EPFO or an exempted trust offer advantages. Unexempted EPF trusts have tax implications. Employers' role in managing EPF schemes is crucial, affecting tax benefits. Knowledge of the EPF withdrawal process and account access enhances financial planning.

New regulations mandate PAN or Aadhaar for gold purchases over a limit. Income Tax Act prohibits cash transactions exceeding Rs 2 lakh in a day. KYC compliance and PMLA rules affect high-value transactions.

India has consistently been the top recipient of remittances from its diaspora. In the fiscal year 2022-23, the remittances surpassed the $100 billion mark, reaching $112 billion, with a record-breaking $29 billion in the December quarter alone.

Stock market today: BSE Sensex and Nifty50, the Indian equity benchmark indices, opened in red on Friday. BSE Sensex dipped 100 points and Nifty50 was around 22,375.

Supreme Court rules writ petitions by erstwhile employees against Air India post privatization by Tata group in Jan 2022 are not maintainable as it ceased to be a public body under administrative control after disinvestment, no longer falling under the writ jurisdiction of the Constitution.

Zoho plans to enter semiconductor manufacturing with a $700 million investment, seeking subsidies under the PLI scheme from the Union govt. PolicyBazaar's promoters sell 1.9% shares worth Rs 1,053 crore. Ola Cabs' CFO steps down, while GAIL's Q4 net profit soars 261% to Rs 2,177 crore.

Brookfield India Real Estate Trust acquires 50% stake in grade A assets from Bharti Enterprises, including 33 lakh sqft commercial properties at Rs 6,000 crore. The equity consideration is fulfilled through preferential allotment in BIRET, making Bharti the second largest unitholder. Assets include Worldmark properties in Aerocity New Delhi, Airtel Center in North Gurugram, and Worldmark Gurugram.

Vineet Nayyar, former vice-chairman of Tech Mahindra, passed away at 85. An IAS officer, he led Tech Mahindra to $3 billion revenue and 90,000 employees in FY14. Anand Mahindra praised his transition from public to private sector. Nayyar also founded Gas Authority of India and was CEO of HCL Perot Systems, with a decade-long tenure at the World Bank.

Mahindra & Mahindra reveals a Rs 37,000 crore capex plan for three years, emphasizing petrol, diesel vehicles, and EV business. M&M executives share insights on new products and refreshes. BII, MEAL, and Temasek investments are vital for future growth.

Vodafone Idea reported a widening loss of Rs 7,675 crore in the March quarter with consolidated revenue remaining almost flat at Rs 10,607 crore. The loss widened from Rs 6,419 crore in the year-ago period. The company also saw a 7.6% growth in Average Revenue Per User (ARPU).

Anil Agarwal-led Vedanta plans to raise Rs 8,500 crore in the fiscal year to reduce its debt of over Rs 56,300 crore through shares or debt securities, subject to shareholder approvals.

Norges Bank excludes Adani Ports from its pension fund over ethical concerns following COE's recommendations. Adani Ports' ties with Myanmar's armed forces led to the exclusion. The sale of its Myanmar port to Solar Energy raises questions about its current connections.

Dalal Street witnessed ongoing volatility with the sensex fluctuating over 1,200 points intraday, driven by domestic fund buying. India VIX surged, FIIs sold off funds, and news of new stocks on the MSCI index hinted at fresh FPI flows. Prashanth Tapse commented on the market's volatile trading session.

State Bank of India, HDFC Bank, Canara Bank, ICICI Bank, Axis Bank, and PNB revised their fixed deposit rates. SBI hiked rates by 75 bps for certain tenures, while HDFC raised rates for 18 to just under 21 months. ICICI offers rates up to 7.20% for 15 months to less than 2 years.

Paytm UPI Lite Wallet by One97 Communications allows PIN-free transactions up to Rs 500, with a daily limit of Rs 4,000 and wallet cap at Rs 2,000, as per ET report.