Category: BUSINESS

Benchmark equity indices Friday opened on a cautious note amid negative signals from other Asian markets, and mixed macro cues like weakening rupee and easing crude prices.Breaking its three-day winning streak, the 30-share index turned choppy and was trading 25.93 points, or 0.07 per cent, lower at 35,903.71.The NSE Nifty saw similar movement, shedding 5.55 points, 0.05 per cent, to 10,786.00.The Sensex Thursday climbed 150.57 points, or 0.42 per cent, to end at 35,929.64, while the broader NSE Nifty rose 53.95 points, or 0.50 per cent, to 10,791.55. Investors were…

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The equity benchmark BSE Sensex Thursday rose over 200 points in early trade, a day after Shaktikanta Das took charge as the new RBI chief and promised to take all stakeholders along on key policy issues to maintain growth while keeping inflation under check.Recovery in rupee and positive cues from other Asian markets too influenced investor sentiment here.Rising for the third straight session, the 30-share index was trading higher by 263.70 points, or 0.74 per cent, at 36,042.77.The NSE Nifty reclaimed the 10,800 mark, rising 76.95 points, or 0.72 per…

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Former bureaucrat Shaktikanta Das, who spearheaded the post-demonetisation normalisation of the economy, was Tuesday named the new governor of the Reserve Bank of India.Das, 61, replaces Urjit Patel, who shocked the establishment and markets by announcing his exit from the central bank Monday.Das will have a three-year term, an official order said.He will be the first bureaucrat to head the central bank in almost five years.While it was widely expected that the government will name an interim RBI head during its search for Patel’s replacement, the Appointments Committee of the…

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The benchmark BSE Sensex cracked over 550 points Monday as investors turned jittery over exit poll results ahead of outcome of state elections, weakening rupee and crude oil price rise amid escalation in US-China trade tensions.The 30-share index plummeted 551.74 points, or 1.55 per cent, to 35,121.51 in opening session. All stocks in the index were trading in the red.In similar movement, the NSE Nifty slumped 172.95 points, or 1.62 per cent, to 10,520.75.The Sensex had rallied 361.12 points, or 1.02 per cent, to close at 35,673.25 Friday, and the…

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 India’s coal import rose 9.7 per cent to 156.08 million tonne (MT) in the April-November period of the ongoing fiscal, as against 142.25 MT in the corresponding months a year ago, according to mjunction services Ltd, a joint venture between Tata Steel and SAIL.Coal imports in November this year also increased 10.1 per cent to 19.47 MT, over 17.68 MT in the corresponding month of the last fiscal, mjunction data showed.”Imports during November 2018 stood at 19.47 MT (provisional)…Earlier, coal and coke imports in November 2017 stood at 17.68 MT,”…

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 Union minister Suresh Prabhu has sought to link the availability of cheap beverages in Goa with “creativity and business opportunities”, a remark the Congress said was projection of the coastal state as a “liquor destination”.Prabhu, while participating in the Global Venture Summit in Goa on Friday, said the state government had reduced taxes on some beverages that help calm the mind and lead to creativity, which can be converted into business opportunities.”Ideas are there, but to make ideas into a form that actually be converted into a business opportunity is…

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The BSE benchmark Sensex rebounded over 200 points to 35,540.49 Friday on fall in global crude oil prices and strengthening rupee against the US dollar.Investors also took positive cues from Asian equities after US Fed Chairman Jerome Powell signalled that the three-year tightening cycle was drawing to a close, and IMF chief Christine Lagarde said that the US was not likely to see an economic contraction in the near term.The rupee appreciated by 46 paise to 70.44 against the US dollar in early trade amid weakness in the greenback against…

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Benchmark indices nursed losses for the second straight day Wednesday as the RBI left the repo rate unchanged, while global markets wobbled on renewed concerns over the US-China trade dispute.The BSE Sensex tumbled 249.90 points, or 0.69 per cent, to close at 35,884.41. Similarly, the broader NSE Nifty fell 84.55 points, or 0.74 per cent, to end at 10,784.95.All sectoral indices on the BSE finished with losses, led by metal, pharma and rate-sensitive auto and banking stocks.The Reserve Bank of India Wednesday left the repo rate unchanged at 6.5 per…

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The rupee depreciated by 50 paise to 70.08 against the US dollar in early trade Monday at the interbank foreign exchange amid strengthening of the US dollar against some currencies overseas.Forex traders said besides increased demand of the US currency from importers, the dollar’s strength against some currencies overseas weighed on the rupee but a higher opening of the domestic equity markets, capped the losses.The rupee opened lower at 69.87 against the dollar then dropped further to quote at 70.08, down 50 paise over its previous close.The rupee had strengthened…

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The benchmark BSE Sensex gained over 150 points and the NSE Nifty began the December derivatives series by hitting the 10,900 mark in early trade Friday on positive cues from other Asian bourses ahead of the two-day G20 Summit.Rupee’s rally to a three-month high also supported the upmove in the domestic stock market. The domestic unit gained 21 paise to 69.64 against the US dollar.The 30-share index rose 175.75 points, or 0.49 per cent, to trade at 36,346.16.In similar movement, the NSE Nifty breached the 10,900 mark, and was trading…

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