
Indian equity benchmarks set to open higher on global tailwinds, RBI policy support
June 9 (Reuters) - Indian benchmark indexes are poised to open higher on Monday, buoyed by positive global cues, including strong U.S. jobs data and signs of progress in India-U.S. trade talks, as well as the Reserve Bank of India's (RBI) policy support.
The Gift Nifty futures were trading at 25,179 as of 7:35 a.m. IST, indicating that the benchmark Nifty 50 (.NSEI), opens new tab will open above Friday's close of 25,003.05.
The Nifty 50 and BSE Sensex (.BSESN), opens new tab rose about 1% each on Friday after the RBI cut the repo rate by 50 basis points (bps), surpassing expectations of a 25 bps cut, and reduced the cash reserve ratio (CRR) for banks by 100 bps, signaling stronger monetary support.
"The RBI's measures came as a positive surprise for equity markets as there will be greater impetus to growth and there could be faster pick up in rate-sensitive sectors," said Sandeep Bagla, CEO of Trust Mutual Fund.
Positive sentiment also stemmed from global markets. The MSCI Asia ex-Japan index (.MIAPJ0000PUS), opens new tab rose 0.5%, tracking Wall Street's gains on Friday after a robust U.S. jobs report eased concerns over economic momentum. Treasury yields edged higher in response.
Meanwhile, trade talks between Indian and U.S. officials are progressing, with both sides seeking consensus on tariff cuts in the farming and auto sectors in a bid to finalise an interim deal before a July 9 deadline, Indian government sources said.
Foreign portfolio investors (FPI) and domestic institutional investors (DII) were both net buyers of Indian shares on Friday, purchasing shares worth 10.1 billion rupees ($118 million) and 93.42 billion rupees, respectively.
** Mahindra & Mahindra's (MAHM.NS), opens new tab total production jumps 27.6% year-on-year in May and total exports soar 36.7%.
** Multi Commodity Exchange of India (MCEI.NS), opens new tab receives SEBI approval to launch electricity derivatives
** Rites (RITS.NS), opens new tab signs deal with Hindustan Copper (HCPR.NS), opens new tab to develop a critical mineral supply chain
** Garden Reach Shipbuilders (GRSE.NS), opens new tab signs MoU with Sweden-based Berg Propulsion for marine propulsion systems and Denmark-based SunStone for partnership in expedition cruise vessels
($1 = 85.7590 Indian rupees)
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BBC News
17 minutes ago
- BBC News
Boeing: What does the Air India crash mean for the plane maker?
Last month, Boeing celebrated carrying its billionth passenger on the 787 Dreamliner - an impressive feat given it only launched 14 years ago. Until today's tragic Air India crash in Ahmedabad, the model was a mainstay of intercontinental travel and had an exemplary safety is a different plane from the Boeing 737 Max, which was in the headlines after fatal crashes in Indonesia and Ethiopia, which killed hundreds of people in 2018 and 2019 respectively. A software fault was found to have caused those incidents and the model was grounded worldwide for 18 far, there is nothing to suggest any fault on Boeing's side today in India. A much fuller picture will come once the plane's black boxes - the electronic recording devices that store vital flight information - have been theories have been posited as to what could have caused the crash in Ahmedabad, but one pilot I spoke to said that nowadays it's rare for a manufacturer fault to cause a fatal incident. Barring the very notable exception of the Boeing 737 Max crashes, he said, most were down to human error in the cockpit. Follow live updates on this storyWhat we know so far about Air India flight AI171At the scene: 'Everyone is running trying to save lives'Verified video shows moment of crash It's also important to remember that when you fly commercially, you will almost always either be on a Boeing or an Airbus model as the plane-making industry operates as an effective so, Boeing has found its name associated with yet another tragic aviation company said its "thoughts are with the passengers, crew, first responders and all affected" and added that it was working with Air India to gather more information on the stock markets opened in New York on Thursday, Boeing shares dropped 5%. The tragedy is another problem for a firm that lost nearly $1bn a month last year, as it grappled with a safety crisis, quality control issues, as well as a damaging seven-week long workers' strike. After one of its doors flew off midway through an Alaska Airlines flight in 2024, Boeing was forced to pay $160m (£126m) in compensation. Before that, the company also reached a $428m settlement with Southwest Airlines for the financial damages caused by the long-term grounding of its 737 Max addition to severe financial issues, Boeing has faced serious questions over its safety practices. In April, the company said it had seen "improved operational performance" from "our ongoing focus on safety and quality".In 2019, a former employee told the BBC that under-pressure workers had been deliberately fitting sub-standard parts to aircraft on the production line. John Barnett, who worked as a quality control manager during his more than 30 years at Boeing, took his own life in March last year. Boeing denied his whistleblower, engineer Sam Salehpour, told US politicians that he was harassed and threatened after he raised concerns about the safety of Boeing's planes. Boeing said retaliation was "strictly prohibited" and it had seen a "more than 500% increase" in reports from employees since January, "which signals progress toward a robust reporting culture that is not fearful of retaliation".Boeing has also been embroiled in a series of legal battles related to the crashes in Indonesia and Ethiopia. Last month, the firm narrowly avoiding criminal prosecution by coming to an agreement with the US Department of Justice (DoJ).To the dismay of victims' families, the DoJ said Boeing would admit to "conspiracy to obstruct and impede" an investigation by the US Federal Aviation Administration and would pay more than $1.1bn in Boeing's top executive team has undergone a pretty significant shake-up over the past couple of years. Its new boss, Kelly Ortberg, came out of retirement a year ago to try to revive the ailing company. He has promised an improvement to Boeing's safety culture and recently said he was confident the aviation giant would soon return to he faces more awful news to navigate.


Daily Mail
35 minutes ago
- Daily Mail
Owners of Air India reveal the amount they will pay families of plane crash victims
The owners of Air India have revealed how much they will pay the families for each person who died in the Ahmedabad plane crash tragedy. Tata Sons, which owns Air India, will offer around £86,000 - or 10 million rupees - to the families of those who were killed after the Boeing 787 plane destined for London Gatwick crashed just minutes after take off. Authorities previously said they feared all of the 242 people onboard, made up of passengers and crew, had died after the plane crash-landed and burst into flames after smashing into offices and a doctors' hostel. But miraculous footage has since emerged of one survivor, believed to be British, named as 40-year-old Vishwash Kumar Ramesh, walking away from the wreckage. So far, rescue teams supported by the military have recovered 204 bodies, with casualties from the plane and the area surrounding the crash. The passengers included 159 Indian nationals, 53 British, seven Portuguese, and a Canadian. Eleven of those on board were children, including two newborns. In total there were 130 passengers, two pilots and ten crew members on the plane. Aviation experts say that Air India Flight 171, a Boeing 787 Dreamliner, may have suddenly lost power 'at the most critical phase of flight' after takeoff. The possible causes are believed to include a rapid change in wind or a bird strike leading to a double engine stall. A video posted to social media appeared to show the plane descending in a controlled manner with a high nose angle and landing gear deployed Some six hours after the crash Tata Group, the parent company of Air India, said it would also cover the medical costs of those injured and provide support in the 'building up' of the medical college the plane crashed into. In a statement a spokesperson said: 'We are deeply anguished by the tragic event involving Air India Flight 171. 'No words can adequately express the grief we feel at this moment. Our thoughts and prayers are with the families who have lost their loved ones, and with those who have been injured. 'Tata Group will provide ₹1 crore to the families of each person who has lost their life in this tragedy. We will also cover the medical expenses of those injured and ensure that they receive all necessary care and support. 'Additionally, we will provide support in the building up of the B J Medical's hostel. We remain steadfast in standing with the affected families and communities during this unimaginable time.' Air India has also announced it is organising two relief flights to Ahmedabad for families of the passengers involved in the plane crash and airline staff. The airline is sending return flights from Delhi and Mumbai that will arrive at 11pm local time and depart shortly after 1am on Friday. The airline said: 'Next of kin of passengers and staff in Delhi and Mumbai wanting to travel on these flights can call our hotline on 1800 5691 444. The plane momentarily disappeared from view behind trees and buildings before a massive fireball erupted on the horizon in this horrifying clip A family member cries upon hearing the news of her brother who died when the Air India Boeing 787 Dreamliner plane crashed in Ahmedabad, India, June 12, 2025 'Additionally, those coming in from international destinations and wanting to travel can call our hotline on +91 8062779200.' A video of the incident circulating online shows the Air India aircraft flying over a residential area before crashing, creating what appears to be a huge fireball followed by large plumes of black smoke. The nose of the plane was up as it descended rapidly, and its landing gear appeared to be deployed. Images of the aftermath of the crash showed parts of the plane embedded into a residential building as firefighters continued to tackle the smoke. Pieces of the aircraft's landing gear, fuselage and tail could all be seen protruding from the building. Officials now face the challenging task of recovering the aircraft's black box and piecing together what happened in the moments before the crash. The King said he was 'desperately shocked' by the incident and Buckingham Palace said he was being kept updated on the developing situation. Prime Minister Sir Keir Starmer said the crash was 'devastating', while his Indian counterpart Narendra Modi said it was 'heartbreaking beyond words'. Air India chairman Natarajan Chandrasekaran described the incident as a 'tragic accident' and a 'devastating event', and said emergency response teams are at the site. The Foreign, Commonwealth and Development Office (FCDO) has stood up a crisis team in India and the UK, Foreign Secretary David Lammy said. The Reuters news agency reported 217 adults and 11 children were on board the flight. So far only one survivor has been identified, Vishwash Kumar Ramesh who was seated in seat 11A. The passenger, who was in his seat when the plane came down in a residential area, recalled: 'Thirty seconds after take-off, there was a loud noise and then the plane crashed. It all happened so quickly.' 'When I got up, there were bodies all around me,' he told local media. 'I was scared. I stood up and ran. 'There were pieces of the plane all around me. Someone grabbed hold of me and put me in an ambulance and brought me to the hospital.' Mr Ramesh, who has lived in London for 20 years, said his brother was seated in a different aisle on the same flight. Astonishing footage showed the passenger walking away from the scene with some visible injuries to his face. Vishwash was returning home to London after visiting family in India Authorities had said earlier they believed there were no survivors on the Gatwick-bound flight that crashed in Gujarat carrying 242 passengers, including 53 Britons Police said they had found a lone survivor who had been sitting in seat 11A when Flight 171 crashed shortly after takeoff in India this morning Gatwick said a reception centre was being set up for relatives of passengers on board the Air India flight. The Boeing jet crashed shortly after takeoff from Ahmedabad Airport in Gujarat at around 1:40pm (0810 GMT), officials said. India's Directorate General of Civil Aviation said the plane sent a mayday call moments before the tragedy unfolded. Ahmedabad, the main city of India's Gujarat state, is home to around eight million people, and the busy airport is surrounded by densely packed residential areas. 'When we reached the spot there were several bodies lying around and firefighters were dousing the flames,' resident Poonam Patni said. 'Many of the bodies were burned,' she added. 'Our office is near the building where the plane crashed. We saw people from the building jumping from the second and third floor to save themselves. The plane was in flames,' said one resident, who declined to be named. It is the first crash involving a Boeing 787 aircraft, according to the Aviation Safety Network database. Flightradar24 said flight tracking data shows after taking off, the plane reached a maximum altitude of 625ft, which is about 425ft above the airport. It then started to descend at a rate of 475 feet per minute. Air India was acquired by Tata Group from the Indian government in January 2022 after racking up billions of pounds of losses. The airline's UK operations are at Birmingham, Gatwick and Heathrow, with routes to a number of Indian cities such as Ahmedabad, Delhi, Mumbai and Bengaluru. It started operating flights to Gatwick in March 2023, with 12 weekly departures and five weekly departures to Ahmedabad. Gatwick said there was no impact on wider flight operations at the airport, but a Thursday evening flight to Goa had been cancelled. Recent analysis by the PA news agency found it was the worst airline for delays to flights from UK airports last year, with planes taking off by an average of more than 45 minutes later than scheduled. The airline has gained a poor reputation for delays and cancellations in recent years, partly caused by a lack of funds to purchase spare aircraft parts, which led to some of its fleet being grounded. The first flight of the Boeing 787 Dreamliner aircraft involved in the crash was in December 2013. The plane was delivered to Air India during the following month.


The Independent
2 hours ago
- The Independent
A look at Boeing's recent troubles after Air India crash
The crash of a Boeing 787 passenger jet in India minutes after takeoff on Thursday is putting the spotlight back on a beleaguered manufacturer though it was not immediately clear why the plane crashed. The Air India 787 went down in the northwestern city of Ahmedabad with more than 240 people aboard shortly after takeoff, authorities said. It was the first fatal crash since the plane, also known as the Dreamliner, went into service in 2009, according to the Aviation Safety Network database. Boeing shares fell more than 5% in pre-market trading. The 787 was the first airliner to make extensive use of lithium ion batteries, which are lighter, recharge faster and can hold more energy than other types of batteries. In 2013 the 787 fleet was temporarily grounded because of overheating of its lithium-ion batteries, which in some cases sparked fires. 737 Max The Max version of Boeing's best-selling 737 airplane has been the source of persistent troubles for Boeing after two of the jets crashed. The crashes, one in Indonesia in 2018 and another in Ethiopia in 2019, killed 346. The problem stemmed from a sensor providing faulty readings that pushed the nose down, leaving pilots unable to regain control. After the second crash, Max jets were grounded worldwide until the company redesigned the system. Last month, the Justice Department reached a deal to allow Boeing to avoid criminal prosecution for allegedly misleading U.S. regulators about the Max before the two crashes. Worries about the plane flared up again after a door plug blew off a Max operated by Alaska Airlines, leading regulators to cap Boeing's production at 38 jets per month. Financial woes Boeing posted a loss of $11.8 billion in 2024, bringing its total losses since 2019 to more than $35 billion. The company's financial problems were compounded by a strike by machinists who assemble the airplanes plane at its factories in Renton and Everett, Washington, which halted production at those facilities and hampered Boeing's delivery capability. Orders and deliveries The stepped-up government scrutiny and the workers' strike resulted in Boeing's aircraft deliveries sliding last year. Boeing said it supplied 348 jetliners in 2024, which was a third fewer than the 528 that it reported for the previous year. The company delivered less than half the number of commercial aircraft to customers than its main rival Airbus, which reported delivering 766 commercial jets in 2023. Still, Boeing's troubles haven't turned off airline customers from buying its jets. Last month the company secured big orders from two Middle Eastern customers. The deals included a $96 billion order for 787 and 777X jets from Qatar, which it said was the biggest order for 787s and wide body jets in the company's.