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Stock markets climb in early trade on buying in blue-chips

Mumbai, Jun 10 (PTI) Benchmark indices Sensex and Nifty climbed in early trade on Wednesday amid buying in blue-chip stocks Reliance Industries, ICICI Bank and cooling crude oil prices. The 30-share BSE Sensex rallied 303.73 points to 74,222.49 in early deals. The 50-share NSE Nifty went up by 85.40 points to 23,327.50. From the 30-Sensex firms, Hindustan Unilever, Reliance Industries, Kotak Mahindra Bank, Asian Paints, Trent and ICICI Bank were among the biggest winners. Tata Steel, Eternal Ltd, Adani Ports and Tech Mahindra were among the laggards. Brent crude, the global oil benchmark, traded at around USD 91.90 per barrel.

Rupee falls 15 paise to 95.56 against US dollar in early trade

Mumbai, Jun 10 (PTI) The rupee depreciated 15 paise to 95.56 against the US dollar in early trade on Wednesday as fresh escalations in the West Asia war lead to a spike in crude oil prices and pressurised the rupee. Forex traders said the USD/INR pair opened on a negative note after US President Donald Trump said Iran was responsible for downing an American military helicopter near the Strait of Hormuz and that the US “must” respond to the attack. At the interbank foreign exchange market the rupee opened at 95.52, then lost ground and touched 95.56 in initial trade,

India’s fertiliser ministry seeks to double subsidy fund as cost of Iran war mounts

NEW DELHI, June 9 (Reuters) – India’s fertiliser ministry has sought to double ‌its budgeted subsidy fund for the current fiscal year amid a global price rally, a government official said, as the South Asian nation increasingly counts the mounting cost of the Iran war. India, where farming is a mainstay, ​imports fertilisers such as urea and DAP, as well as liquefied natural gas, ​a key feedstock for urea production. The world’s third-largest oil importer and consumer also ⁠ships in about 90% of its oil and is one of the countries most-exposed ​to prolonged war-related disruptions to global energy supplies.

Gold regains Rs 1.6 lakh/10g level as weak US dollar lifts sentiment

New Delhi, Jun 9 (PTI) Gold prices rebounded by Rs 1,500 to reclaim the Rs 1.60 lakh per 10-gram mark in the national capital on Tuesday due to a weak US dollar and improving sentiment in the bullion market. According to local marketmen, the yellow metal of 99.9 per cent purity climbed Rs 1,500 to Rs 1,60,300 per 10 grams (inclusive of all taxes) from Monday’s closing level of Rs 1,58,800 per 10 grams. The recovery came even as global gold prices traded lower, with analysts attributing the rise in domestic prices weak to US dollar and renewed investor interest.

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