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Stock markets fall in early trade amid geopolitical tensions, foreign fund outflows

Mumbai, Jan 21 (PTI) Benchmark equity indices Sensex and Nifty drifted lower in early trade on Wednesday as heightened geopolitical tensions, weak global markets and persistent foreign fund outflows rattled investors’ sentiment. The 30-share BSE Sensex dropped 385.82 points to 81,794.65 in opening trade. The 50-share NSE Nifty declined 91.5 points to 25,141. From the 30-Sensex firms, Bharat Electronics, ICICI Bank, Trent, Larsen & Toubro, HCL Tech and Infosys were among the laggards. However, Eternal, Sun Pharma, InterGlobe Aviation and Tata Steel were among the gainers. Foreign institutional investors offloaded equities worth Rs 2,938.33 crore on Tuesday, while Domestic Institutional

Rupee falls 31 paise to all-time low of 91.28 against US dollar in early trade

Mumbai, Jan 21 (PTI) The rupee depreciated 31 paise to an all-time low of 91.28 against the American currency in early trade on Wednesday, weighed down by steady dollar demand and a cautious global mood. Forex traders said rising geopolitical uncertainty, including renewed US expansionary signals, has increased risk aversion and kept emerging market currencies under pressure. Moreover, a sluggish domestic stock market triggered by an exodus of foreign capital dented investors’ sentiment further, they said. At the interbank foreign exchange, the rupee opened at 91.05 and lost ground to trade at 91.28 against the greenback, down 31 paise from

Gold breaches Rs 1.5 lakh/10g-mark; silver surges to record Rs 3.23 lakh/kg

New Delhi, Jan 20 (PTI) Gold prices jumped Rs 5,100 on Tuesday to breach the crucial Rs 1.5 lakh-per-10-gram milestone in the national capital, driven by strong demand in domestic and international markets, according to the All India Sarafa Association. The yellow metal of 99.9 per cent purity traded at Rs 1,53,200 per 10 grams (inclusive of all taxes) against the previous closing level of Rs 1,48,100 per 10 grams. Silver prices also strengthened in the local bullion market and scaled a fresh peak. The white metal skyrocketed by Rs 20,400, or nearly 7 per cent, to Rs 3,23,000 per

Indian banks to seek RBI approval for raising bulk deposits, sources say

MUMBAI, Jan 20 (Reuters) – Indian banks will approach the Reserve Bank of India for approval to raise bulk deposits for up to three years compared to the current one year cap, three sources familiar with the discussions said on Tuesday. The suggestion was discussed between bank treasury executives and a market representative body last week, the sources said. The plan to request this change in regulation comes against the backdrop of weak deposit growth for banks and sporadic tightness in banking system liquidity. Banks raise bulk deposits via certificates of deposit (CDs) for a tenor of upto one year

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