Category: BUSINESS

The rupee declined by 29 paise to close at 71.77 against the US dollar on Wednesday as fears of an impending global recession prompted investors to stick to safe-haven assets like the Japanese yen. Rising crude oil prices and weakness in the equity market put further pressure on the domestic currency, forex dealers said. At the interbank foreign exchange market, the rupee opened on the back foot at 71.50 a dollar and went on to touch the day’s low of 71.87. It finally pared some losses to settle at 71.77,…

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Domestic equity benchmark BSE Sensex opened over 150 points higher on Tuesday led by gains in index heavyweights L&T, ICICI Bank, SBI and HDFC Bank amid positive domestic and global cues.The 30-share index was trading 123.95 points, or 0.33 per cent, up at 37,618.07 at 0930 hours, while the broader Nifty rose 43.45 points, or 0.39 per cent, to 11,101.30 in early trade.In the previous session, the BSE barometer closed 792.96 points, or 2.16 per cent, higher at 37,494.12; and the Nifty reclaimed the 11,000-level, advancing 228.50 points, or 2.11…

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Snapping its three-session rising streak, equity benchmark Sensex closed 74 points lower on Tuesday, dragged by losses mainly in financial counters as investors remained cautious in view of prevailing economic uncertainty.Shares of Yes Bank plummeted 7.11 per cent on concerns over the valuation of stake in CG Power, which has been hit by financial irregularities. The bank holds 12.79 per cent stake in CG Power.However, gains in auto stocks capped the Sensex loss to a large extent. After opening on a positive note, the 30-share index swung 292 points, finally settling…

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Domestic equity benchmark BSE Sensex rose over 200 points in early trade on Monday tracking gains in index heavyweights RIL, ICICI Bank and Infosys amid positive global cues.The 30-share index pared some opening gains to trade 129.01 points or 0.35 per cent higher at 37,479.34 at 0945 hours; and the broader Nifty too rose 37.45 points or 0.34 per cent to 11,085.25 in morning trade.In the previous session on Friday, the 30-share Sensex settled 38.80 points, or 0.10 per cent, higher at 37,350.33, while the NSE Nifty gained 18.40 points,…

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Donald Trump said Friday that tech giant Apple would be spending “vast sums” of money in the US in a tweet ahead of a dinner meeting with its CEO Tim Cook.The men have had several informal meetings before, including at Bedminster, New Jersey, where Trump is reportedly on a working holiday at his golf course.”Having dinner tonight with Tim Cook of Apple. They will be spending vast sums of money in the U.S. Great!” he tweeted at around 7 pm local time.The meeting follows Thursday’s announcement from Apple that it…

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Rishabh Pant is on a learning curve in a tricky journey called international cricket and his only endeavour is to improve each day, not only as a cricketer but also a human being.The nascent international career of Mahendra Singh Dhoni’s heir apparent has been an eventful one — a few eye-catching knocks interspersed with indiscreet shot selections that invited a lot of critical comments.With India having a packed schedule in the next six months, Pant was asked about how he sees things panning out for him.”Every match is crucial for…

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Domestic equity benchmark BSE Sensex rebounded by nearly 300 points in early trade on Wednesday, led by gains in index heavyweights RIL, HDFC and Infosys, amid positive cues from other global markets.Easing inflation numbers, released after market hours on Tuesday, too helped the recovery in domestic market sentiment, traders said.The 30-share index pared some opening gains to trade 122.51 points or 0.33 per cent higher at 37,080.67 at 0930 hours; and the broader Nifty too gained 35.30 points or 0.32 per cent to 10,961.15 in morning trade.In the previous session…

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Richest Indian Mukesh Ambani on Monday announced plans to sell stakes in his flagship Reliance Industries’ oil and chemical business to Saudi oil giant Aramco and in fuel retail network to BP plc of UK for a combined Rs 1.15 lakh crore as he looked to make his company a zero-net debt firm in 18 months. Parallelly, the oil-to-telecom conglomerate will roll out fiber-based fixed-line broadband services from September 5, offering internet speed of at least 100 mbps, free voice calls for life, television and video streaming on HD sets…

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The rupee deprecated by 38 paise and fell to 71 per dollar mark in early trade on Tuesday amid strengthening of the American currency and weak opening in domestic equities. Forex traders said the strength of the US dollar against other overseas currencies and concerns about US-China trade negotiations also kept investors edgy. At the Interbank Foreign Exchange, the rupee opened weak at Rs 71.15 then fell further to 71.16 against the American currency, down 38 paise over it’s previous closing price. The Indian rupee on Friday had closed at…

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US President Donald Trump on Saturday said America will not do any business with Chinese tech giant Huawei. The Trump administration believes that giving access to the state-controlled Huawei on 5G would risk America’s national security. As such the US is not only denying Huawei access inside the country but also is asking other countries to follow suit. “We’re not going to do business with Huawei. We’re not doing business with them. And I really made the decision,” Trump told reporters at the White House.“It’s much simpler not to do any…

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