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Rupee rises 10 paise to 92.41/USD; faces risks from rising global tensions

Mumbai, Apr 10 (PTI) The rupee appreciated 10 paise to 92.41 against the US dollar in early trade on Friday, even as the USD/INR pair faces risks from rising global tensions, especially the US-Iran conflict. Forex traders said the rupee is likely to see high volatility intra-day as the deadline for RBI’s instructions to banks to curb their overnight positions to USD 100 million closes today. At the interbank foreign exchange market, the rupee opened at 92.58 against the US dollar, then gained ground to touch 92.41 against the US dollar in initial trade, registering a gain of 10 paise

Stock markets rebound in early trade on buying in banking counters, positive trend in global peers

Mumbai, Apr 10 (PTI) Equity benchmark indices Sensex and Nifty rebounded in early trade on Friday, driven by a rally in bank stocks and a positive trend in global markets. The 30-share BSE Sensex jumped 630.08 points to 77,261.73 in early trade. The 50-share NSE Nifty climbed 203.6 points to 23,978.70. From the 30-Sensex firms, Axis Bank, Asian Paints, Bajaj Finserv, State Bank of India, ICICI Bank and Bajaj Finance were the major gainers. Sun Pharma, Infosys, Tata Consultancy Services, HCL Tech, Tech Mahindra and Titan were the laggards. Brent crude, the global oil benchmark, traded 0.20 per cent up

US-Iran ceasefire deal shows strain ahead of talks with oil flows squeezed

JERUSALEM/BEIRUT/ISLAMABAD, April 10 (Reuters) – A fragile two-week ceasefire between the U.S. and Iran showed further strain on Friday, a day before they are ​to negotiate in Pakistan, as Washington accused Tehran of breaching promises on the Strait of Hormuz and Israel struck Lebanon with attacks that Iran has ‌claimed violate the truce. There was no sign Iran was lifting its near-total blockade of the strait, which has caused the worst-ever disruption to global energy supplies. Tehran cited Israel’s ongoing attacks on Lebanon, which included the heaviest strikes of the war on Wednesday, as a key sticking point. U.S. President

European alcoholic drinks companies seek India tariff relief as shortages of cans, bottles loom

NEW DELHI, April 9 (Reuters) – A European alcoholic drinks companies, whose members include Pernod ​Ricard, Anheuser-Busch InBev, Heineken and Carlsberg, has asked India for an exemption from a 10% import duty on ‌glass bottles and aluminum cans, amid shortage fears triggered by the Iran war, a letter, seen by Reuters, shows. The Federation of European Businesses in India wrote to the Indian government on April 2 highlighting that companies’ can and bottle supplies were constrained as local manufacturers were not able to operate at optimal capacity. The ​letter highlights pressures in India’s $65 billion alcohol market which is facing

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