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Stock markets recover on buying in IT, PSU bank stocks; Sensex climbs 325 pts

Mumbai, Mar 20 (PTI) Equity benchmark indices Sensex and Nifty gave up most of their intra-day gains to end nearly 0.5 per cent higher on Friday, following intense buying in PSU bank, IT and metal stocks amid concerns over a further spike in fuel-driven inflation. In another volatile session, the 30-share BSE Sensex climbed 325.72 points or 0.44 per cent to settle at 74,532.96. During the day, it jumped 1,079.15 points, or 1.45 per cent, to 75,286.39. The 50-share NSE Nifty edged higher by 112.35 points, or 0.49 per cent, to end at 23,114.50. Intra-day, it jumped 343 points, or

CBDT notifies rules for simplified income tax law, to be effective from April 1

Income Tax Law

New Delhi, Mar 20 (PTI) Central Board of Direct Taxes on Friday notified the rules for Income-tax Act, 2025 which provided enhanced tax benefit for HRA to salary earner but makes disclosure of landlord-tenant relationship mandatory. The Income-tax Rules, 2026 will operationalise the simplified direct tax legislation that was approved by Parliament last year and will come into effect from April 1. “These rules may be called the Income-tax Rules, 2026. They shall come into force on the April 1, 2026,” a gazette notification said. Parliament on August 12, 2025 passed a new Income Tax Bill to replace the six-decade-old

Rupee crashes 82 paise to settle at 93.71 against US dollar

Mumbai, Mar 20 (PTI) The rupee crashed 82 paise, or nearly 1 per cent, to settle at an all-time low of 93.71 (provisional) against the US dollar on Friday, weighed down by persistent foreign fund outflows and a steep rise in crude oil prices amid mounting geopolitical tensions. Forex traders said the Indian rupee is under tremendous pressure as surging crude oil prices and a shift toward risk-aversion dented investor sentiments. Moreover, heightened geopolitical uncertainty risks are driving energy costs higher, which could widen the trade deficit and stoke inflationary pressures, they added. At the interbank foreign exchange, the local

Premium petrol price up Rs 2, industrial diesel up Rs 22; no change in normal petrol, diesel rates

New Delhi, Mar 20 (PTI) The price of premium or higher-grade petrol price on Friday was increased by Rs 2 per litre while the rate of bulk diesel sold to industrial users was hiked by about Rs 22 a litre, reflecting the spike in global oil prices amid conflict in the Middle-East. However, the price of normal petrol and diesel remains unchanged. Premium 95-Octane petrol price in Delhi has been increased from Rs 99.89 per litre to Rs 101.89 in the national capital, industry sources said. Alongside, bulk or industrial diesel prices were hiked from Rs 87.67 per litre to

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