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India’s second quarter GDP growth slowed sharply to 4.5 per cent, the weakest pace in more than six years, as manufacturing output hit a slump and consumer demand as well as private investment weakened.The Gross Domestic Product (GDP) expansion rate moderated from 5 per cent recorded in April-June 2019 and is much weaker than the 7 per cent growth registered in July-September 2018, according to official data released Friday.The major factor in the GDP fall was manufacturing contracting by 1 per cent. A separate data showed core infrastructure industries’ output…

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The Indian rupee appreciated by 10 paise to 71.40 against the US dollar in early trade on Wednesday as positive opening in domestic equities and sustained foreign fund inflows strengthened investor sentiments. Forex traders said easing crude oil prices also supported the domestic unit. At the interbank foreign exchange the rupee opened at 71.43, then gathered momentum and touched 71.40 against the US dollar, registering a rise of 10 paise over its previous close. On Tuesday, rupee had settled for the day at 71.50 against the US dollar. The domestic…

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Market benchmark BSE Sensex retreated from its record high level to close down by around 68 points on Tuesday mainly due to profit booking in telecom, IT and auto stocks amid growth concerns and evolving political drama in Maharashtra. The 30-share index touched its all-time intra-day high of 41,120.28 before closing down by 67.93 points or 0.17 per cent at 40,821.30. The broader Nifty of the National Stock Exchange also soared to a new peak of 12,132.45 in day trade before giving up gains to end lower by 36.05 points…

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