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Sensex, Nifty Fall 1% as West Asia Conflict and Rising Oil Prices Weigh on Markets

Mumbai (PTI): Equity benchmark indices Sensex and Nifty extended their southward journey in early trade on Friday, tumbling nearly 1 per cent, as the ongoing conflict in West Asia and surging oil prices continue to spoil investors’ sentiment. Heavy selling in global markets, persistent foreign fund outflows and weakness in the rupee also added to the bearish trend. The 30-share BSE Sensex tumbled 708.38 points or 0.93 per cent to 75,326.04 in early trade. The 50-share NSE Nifty dropped 222.05 points or 0.93 per cent to 23,417.10. From the 30-Sensex firms, Larsen & Toubro, Tata Steel, InterGlobe Aviation, UltraTech Cement,

Indian Rupee Hits Record Low of 92.37 Against U.S. Dollar

Mumbai (PTI): The rupee slumped 12 paise to its record low of 92.37 against the US dollar in early trade on Friday as global crude oil prices showed no signs of easing amid the ongoing West Asian conflict. A stronger greenback, heavy FII selling and weak sentiments in the domestic equity markets further weighed on the rupee, according to forex traders. At the interbank foreign exchange, the local unit opened at 92.33 and slipped further to hit its record intra-day low of 92.37 against the US dollar, down 12 paise from its previous close. The rupee touched a fresh intra-day

Hungary’s conservative icon Orban defeated by centre-right opposition

BUDAPEST, April 12 (Reuters): Hungary’s veteran nationalist leader Viktor Orban lost power to the upstart centre-right Tisza party in Sunday’s national election after 16 years in office, marking a setback for his ​allies in Russia and U.S. President Donald Trump’s White House. Orban, 62, was celebrated by conservatives across Europe and the United States as the mastermind of ‌the “illiberal” model of democracy, but lost favour at home with voters who grew weary of economic stagnation, international isolation and oligarchs amassing wealth. His landslide defeat handed Tisza’s Peter Magyar, 45, a comfortable majority in Hungary’s 199-seat legislature, opening the door

US initiates probe against trading partners including India, China to look into ‘unfair foreign practices’

New York, Mar 12 (PTI) The US has initiated investigations against its trading partners, including India, China, Japan and the EU, to look into and address “unfair foreign practices” that adversely impact American manufacturing. United States Trade Representative (USTR) Jamieson Greer announced the initiation of a probe regarding the “acts, policies, and practices” of various economies under Section 301(b) of the Trade Act of 1974, relating to structural excess capacity and production in manufacturing sectors. The economies subject to these investigations are Bangladesh, Cambodia, China, the European Union, India, Indonesia, Japan, Korea, Malaysia, Mexico, Norway, Singapore, Switzerland, Taiwan, Thailand and

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