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Market benchmarks snap five-day losing run; Sensex gains 300 pts

Mumbai, Jan 12 (PTI) Equity benchmark indices Sensex and Nifty found firmer ground on Monday after facing a massive drubbing in the past five trading sessions, propelled by bargain hunting in energy, banking and metal stocks. However, escalating geopolitical tensions and unrelenting foreign fund outflows capped the sharp gains, traders said. The 30-share BSE Sensex climbed 301.93 points, or 0.36 per cent, to settle at 83,878.17. During the morning trade, it tumbled 715.17 points, or 0.85 per cent, to 82,861.07, breaching the 83,000 level. The 50-share NSE Nifty edged higher by 106.95 points, or 0.42 per cent, to 25,790.25. The

Rupee pares early losses, ends 2 paise higher at 90.16 against US dollar

Mumbai, Jan 12 (PTI) The rupee recovered from low levels and settled 2 paise higher at 90.16 (provisional) against the US dollar on Monday on weak American currency and sliding crude oil prices. Equity market sentiment also improved after the new US envoy to India, Sergio Gor, said that both sides are actively engaged in firming up a trade deal, forex analysts said. However, a volatile geopolitical situation kept the domestic currency under pressure, restricting its recovery, they said. Also, traders awaited cues from domestic and US macroeconomic data to be released this week. At the interbank foreign exchange, the

Economy faces many challenges, meaningful steps needed in Budget: Congress

New Delhi, Jan 12 (PTI) The Congress on Monday hoped that the forthcoming Union Budget will take meaningful steps to address the challenges of sluggish private corporate investment and disparities in income as higher GDP growth rates in actuality will simply not be sustainable. Congress general secretary in-charge communications Jairam Ramesh said household savings rates have declined considerably, and wealth, income, and consumption inequalities continue to deepen. Ramesh said it remains to be seen if the forthcoming Union Budget boldly comes out of the comfort zone of statistical illusions, acknowledges realities and challenges, and takes meaningful steps to deal with

India and U.S. actively engaging on trade, next call on January 13, new envoy says

NEW DELHI, Jan 12 (Reuters) – India and the U.S. will discuss trade issues in their next call scheduled for Tuesday, Washington’s newly-appointed ambassador to New Delhi, Sergio Gor, said on Monday, at a time when failure to secure a trade deal has roiled their ties and pushed the rupee to a record low. India will also be invited to join Pax Silica next month, Gor said, referring to a U.S.-led initiative to build a silicon supply chain from critical minerals to semiconductors and AI. Trade talks between India and the U.S. fell apart and Trump then doubled tariffs on

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