In today’s collection of top news stories, the Indian stock market continued to surge, with the Sensex crossing the 72,000 mark for the first time and the Nifty reaching new all-time highs. The government also announced an increase in the minimum support price (MSP) for milling copra, providing a boost to the agricultural sector. In banking news, the Reserve Bank of India (RBI) approved the appointment of C S Rajan as the part-time chairman of Kotak Mahindra Bank.
The Suez crisis, which saw US military intervention, is nearing resolution as shipping lines prepare to resume operations in the Red Sea and Gulf of Aden. IDFC, IDFC FHCL, and IDFC First Bank received a no-objection certificate from the RBI for their amalgamation. In international relations, India’s External Affairs Minister S Jaishankar met with his Russian counterpart Sergey Lavrov to discuss bilateral cooperation and global conflicts. Lastly, India has become a net importer of steel due to increased shipments from China.
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