Indian shares hopeful of more reforms

Traders say there are increasing expectations that the government will also unveil fiscal reforms.

The gain in the Indian rupee after Reserve Bank of India’s (RBI) new Governor Raghuram Rajan made a strong start by unveiling a slew of proposals to support the currency and open up markets has improved market sentiment.

Traders say there are increasing expectations that the government will also unveil fiscal reforms which will aid foreign flows and sentiment.

Rising speculation that the government will soon hike diesel prices by close to 10 percent in a bid to cut the biggest item in the country’s import bill also helped shares.

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Indian shares will also watch the US non-farm payrolls data due to be released post market hours on Friday.

The data will be key in helping the market get some clarity on when the Federal Reserve may look to potentially withdraw its monetary stimulus.

Traders will also await the industrial output data due to be released on Thursday for cues ahead of the central bank’s monetary policy on Sept. 20.

Human activity, rising industrial emissions, and the surge in wildfires were identified as major contributors to the record levels. (File)

After historic warm year, carbon dioxide levels in 2024 set new records: WMO

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The WMO revealed that global CO₂ levels in 2024 reached a record high due to a rapid increase of 3.5 ppm. Human activity, industrial emissions, and wildfires were identified as major causes, while other greenhouse gases also saw significant rises. The 2024 El Niño event exacerbated the situation.

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