Greater Noida, Sep 25: Stressing that the country must become self-reliant, Prime Minister Narendra Modi on Thursday said that despite global uncertainties, India’s growth remains resilient and remarkable.

During his keynote address at the Uttar Pradesh International Trade Show 2025 here, PM Modi said that this time, the country partner of the trade show is Russia, which means “we are further strengthening this time-tested partnership”.

Stressing that the government is doubling down on its efforts towards the ‘Make in India’ initiative, PM Modi said that we aim to make ‘chips to ships’ in the country.

The Prime Minister also informed that the first, fully indigenous AK-203 assault rifles are set to be delivered to the Army soon.

The Indo-Russian Rifles Private Limited (IRRPL) is a joint venture company that has been established for the indigenous production of AK-203, named ‘Sher’ in India, in Uttar Pradesh’s Amethi. The AK-203 rifles are significantly more modern compared to the AK-47 and AK-56 rifles. They are one of the most lethal rifles in the Kalashnikov series.

PM Modi further stated that Indians now believe that swadeshi products are getting better, user-friendly and long-lasting. “Hence, there should be no compromise on quality,” the Prime Minister told the gathering, adding that the country must become self-reliant and every product that can be made in India should be made here.

As soon as the Prime Minister reached the venue to inaugurate the mega trade show, he took a tour of the exhibition area, where he witnessed next-generation innovations across the spectrum.

The third edition of the mega event — envisioned under the leadership of Chief Minister Yogi Adityanath — is taking place at the India Expo Centre and Mart from September 25 to 29 — showcasing the state’s industrial, agricultural, cultural, and innovation strengths on a global stage.

The event focuses on showcasing industrial progress, promoting trade collaborations, and attracting investments. Attendees will include business leaders, industry experts, startups, exporters, and government officials. Over 2,400 exhibitors and 1,25,000 B2B visitors are expected to participate in the trade show.

Mumbai, Sep 25: The Indian benchmark indices opened marginally lower on Thursday, as persistent volatility and mixed global cues continue to weigh on investor confidence.

As of 9.25 am, Sensex was down 91 points, or 0.11 per cent at 81,807 and Nifty was down 24 points, or 0.096 per cent at 25,081.

Amid concerns over FII outflows and US visa curbs, traders are looking for cues from the Q2 corporate earnings, pinning their hopes on a trade deal between the US and India.

The broadcap indices, Nifty Midcap 100 and Nifty Smallcap 100, dipped by 0.04 per cent. Hindalco, Dr. Reddy’s Labs, ONGC, Tata Steel, and Tata Consumer were among major gainers on the Nifty pack, while losers included Tata Motors, Bajaj Finance, Titan Company, Maruti Suzuki and Hero MotoCorp.

Among sectoral indices, Nifty IT, the top loser, lost 0.23 per cent. Nifty Auto (down 0.21 per cent) and Nifty Private Bank (down 0.14 per cent) also weighed down on the indices. Nifty Metal and Nifty Pharma made minor gains.

The Nifty index managed to hold above the 25,000 mark but closed negative for the fourth consecutive session.

Analysts said that the index upswings thereof failed to gain enough momentum to push beyond the 25,278-25,330 region, reflecting sustained selling pressure and cautious market sentiment.

On the upside, immediate resistance is placed at 25,100, followed by 25,250. On the downside, support lies at 25,000 and 24,900, they said.

The reforms being implemented in India, along with the low interest rate regime, have the potential to push economic growth and corporate earnings growth higher.

This should bring FIIs back to the Indian market, but the timeline is uncertain, the analysts added.

The US markets ended in the red zone overnight, as Nasdaq dipped 0.34 per cent, the S&P 500 dropped 0.28 per cent, and the Dow lost 0.37 per cent in the last trading session.

Most of the Asian markets were trading in the green during the morning session. While China’s Shanghai index edged up 0.19 per cent, and Shenzhen advanced 1.29 per cent, Japan’s Nikkei inched up 0.20 per cent, while Hong Kong’s Hang Seng Index added 0.37 per cent. South Korea’s Kospi lost 0.02 per cent.

On Wednesday, foreign institutional investors (FIIs) sold equities worth Rs 2,425 crore, while domestic institutional investors (DIIs) were net buyers of equities worth Rs 1,211 crore.

Mumbai, Sep 24: The Indian benchmark indices opened marginally lower on Wednesday, on the back of weak global cues, with broad-based selling across all sectors, except PSU bank.

As of 9.21 am, the Sensex was down 289 points, or 0.35 per cent at 81,813 and the Nifty was down 87 points, or 0.35 per cent at 25,082.

Investor sentiments were weighed down by comments from US Fed Chair Jerome Powell about stagflation risks and elevated asset prices. Additionally, the impact of US visa curbs, ongoing foreign outflows, and persistent valuation concerns in domestic markets acted as headwinds for the stock exchanges.

The broad cap indices Nifty Midcap 100 dipped 0.45 per cent, and the Nifty Smallcap 100 lost 0.20 per cent.

Trent, SBI, Asian Paints, Maruti Suzuki, and ONGC are among the major gainers on the Nifty pack, while losers include Hero MotoCorp, Titan Company, Tech Mahindra, Tata Motors, ICICI Bank.

Among sectoral indices, Nifty Auto, the top loser, lost 0.71 per cent. Nifty IT (down 0.66 per cent) and Nifty Consumer durables (down 0.70 per cent) also weighed down on the indices. All other sectoral indices were trading in the red except PSU Bank which gained 0.37 per cent.

Analysts said that the global market is fraught with concern due to the elevated asset prices. Federal Reserve Chairman Jerome Powell hinted that the prices of assets, including stocks, gold, silver, and bitcoin, are currently high. He also reiterated the risks to inflation and employment, indicating that the Federal Reserve’s policy will be difficult to navigate in the future.

In India, even though the Nifty is around 4 per cent down from the September 2024 peak, valuations continue to be higher than the long-term averages. But these valuations will become justifiable when the earnings growth picks up, hopefully in FY27, they said.

The US markets ended in the red zone overnight, as Nasdaq dipped 0.95 per cent, the S&P 500 dropped 0.55 per cent, and the Dow lost 0.19 per cent in the last trading session.

Most of the Asian markets were trading in the green during the morning session. While China’s Shanghai index edged up 0.45 per cent, and Shenzhen advanced 0.92 per cent, Japan’s Nikkei dipped 0.43 per cent, while Hong Kong’s Hang Seng Index added 0.74 per cent. South Korea’s Kospi lost 1.21 per cent.

On Tuesday, Foreign Institutional Investors (FIIs) sold equities worth Rs 3,551 crore, while Domestic Institutional Investors (DIIs) were net buyers of equities worth Rs 2,671 crore.