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Stock markets rebound in early trade; Sensex jumps 553 points

Mumbai, Jul 15 (PTI) Market benchmark indices Sensex and Nifty rebounded in early trade on Wednesday after a sharp decline in the previous session led by bank stocks and a softer-than-expected US inflation data reinforcing expectations that the Federal Reserve may adopt a less aggressive monetary policy stance in the coming months. The 30-share BSE Sensex jumped 553 points to 77,603.57 in early trade. The 50-share NSE Nifty went up by 148.15 points to 24,198.40. From the Sensex pack, Bajaj Finance, Axis Bank, Eternal, InterGlobe Aviation, UltraTech Cement and State Bank of India were the major winners. Infosys, Tata Consultancy

Rupee rises 5 paise to 96.11 against US dollar in early trade

Mumbai, Jul 15 (PTI) The rupee rose 5 paise to 96.11 against the US in early trade on Wednesday amid heightened tensions in West Asia and a weaker greenback. Higher crude oil prices and FII outflows prevented a sharper rise in the local unit while a positive opening in the domestic equity markets lent support, forex traders said. At the interbank foreign exchange market, the rupee opened at 96.12 and inched up to 96.11, up 5 paise from its previous close. The unit depreciated 48 paise to close at 96.16 against the US dollar on Tuesday. Iran on Wednesday threatened

India proposes easing path for funds, insurers to raise bank stakes up to 10%

July 14 (Reuters) – India’s RBI on Tuesday proposed easing rules for mutual funds, insurance companies ​and pension funds to raise their stakes ‌in banks to up to 10%. The Reserve Bank of India has proposed that ​these investors will receive a one-time approval ​for subsequent acquisitions of major shareholding in ⁠a bank where they already hold a ​stake Under current rules, the investors must seek ​fresh approval each time their shareholding falls below 5% before they can raise it above that threshold The proposed ​change would eliminate the need for repeated ​approvals, making it easier for the investors whose

Uttarakhand draft electoral roll published after SIR; voters down to 71.33 lakh

Dehradun, Jul 14 (PTI) Additional Chief Electoral Officer Vijay Kumar Jogdande on Tuesday said that more than 71.33 lakh voters were included in the draft voter list, while 8.26 lakh may face deletion following the completion of the Special Intensive Revision (SIR) in Uttarakhand. Jogdande told PTI that out of 71,33,785 voters in the draft list, 52 per cent are male, 47 per cent female, and 217 belong to the third gender. The SIR exercise was conducted in the state on July 1. Under this, the distribution and digitisation of enumeration forms were completed between June 7 and July 8.

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