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Stock markets pare early gains; trade lower

Mumbai, May 13 (PTI) Benchmark equity indices slipped in the negative territory after rising marginally during early trade on Wednesday amid elevated crude oil prices and persistent geopolitical uncertainty. Foreign fund exodus also hit investor sentiment. The 30-share BSE Sensex climbed 75.64 points to 74,614.51 in early trade. The 50-share NSE Nifty went up by 17.10 points to 23,391.10. However, both the benchmark indices failed to carry forward the momentum. The BSE benchmark traded 182.60 points lower at 74,362.19, and the Nifty quoted 41.05 points down at 23,352.25. From the 30-Sensex firms, Power Grid, NTPC, Bajaj Finance, State Bank of

Rupee recovers 16 paise from all-time low to 95.52 against US dollar in early trade

Mumbai, May 13 (PTI) The rupee rebounded by 16 paise from its all-time low to 95.52 against the American currency in early trade on Wednesday amid hopes of lower demand for the US dollar due to import curbs. Forex traders said market participants are expecting some resilience in the dollar-rupee pair as gold importers curb their demand. The Indian government raised import tariffs on Gold and Silver to 15 per cent from 6 per cent to curb overseas purchases of the metals and ease pressure on the Country’s FX reserves. However, elevated crude oil prices and the strength of the

Extremely saddening: Akhilesh on stepbrother Prateek’s death

Lucknow, May 13 (PTI) Samajwadi Party president Akhilesh Yadav on Wednesday morning described his stepbrother Prateek Yadav’s death as “extremely saddening.” The former Uttar Pradesh chief minister rushed to the Civil Hospital and from there to the King George Medical University (KGMU), where an autopsy was scheduled. Prateek, 38, suddenly fell ill and was rushed to the civil hospital in the early hours of the day, but was declared dead at the hospital, the sources said. Akhilesh Yadav did not speak to the media at the hospitals, but posted a brief statement on X: “Shri Prateek Yadav’s demise is extremely

India’s travel industry braces for hit from Modi’s appeal to avoid foreign trips

CHENNAI/BENGALURU, India, May 13 (Reuters) – India’s ​travel industry fears that an appeal by Prime Minister Narendra Modi to avoid unnecessary foreign travel will squeeze ‌new bookings after inflationary pressure knocked down summer overseas inquiries by as much as 15%, industry and analysts say. The pullback is set to hit the peak season for outbound tourism, when affluent families seek cooler locations in Europe and Australia, during school holidays that run from April to June. “The prime minister ​has a great following, and people sometimes take his advice very seriously … they may postpone it to next year,” ​said Ravi

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