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Sensex tumbles 813 points amid escalating tensions in West Asia, oil price surge

Sensex tumbles 813 points amid escalating tensions in West Asia, oil price surge

Mumbai, Sep 9 (PTI) Market benchmark indices ended lower for the third straight day on Wednesday, with the Sensex tumbling 813.35 points and the Nifty dropping below 23,450, as escalating tensions in West Asia drove crude oil to over USD 100 per barrel. Selling in IT stocks and fresh foreign fund outflows also dented investors’ sentiment. The 30-share BSE Sensex tanked 813.35 points, or 1.08 per cent, to settle at the day’s low of 74,764.23. The 50-share NSE Nifty declined 203.60 points, or 0.86 per cent, to end at 23,431.50. Among the 30 Sensex firms, HCL Tech dropped the most

India August consumer inflation likely hit 20-month high on food, fuel prices: Reuters poll

BENGALURU, Sept 9 (Reuters) – India’s consumer inflation likely rose to a 20-month high in August, driven by higher food ​and fuel prices, marking a third straight month above the Reserve Bank of ‌India’s 4% medium-term target, a Reuters poll of economists showed. Annual consumer price inflation, based on the consumer price index (CPI), was forecast to rise to 4.80% in August from 4.45% in July, according to the September 3 to ​9 Reuters poll of 44 economists. Forecasts for the data, due on September 14, ranged ​from 4.40% to 5.05%. With inflation remaining within the RBI’s 2%-6% target band,

Singapore Airlines to seek tougher terms for any fresh Air India funding, sources say

HONG KONG, Sept 9 (Reuters) – Singapore Airlines, backed by state investor ​Temasek, is expected to seek greater influence over management and stronger governance rights before approving a capital injection into Air India, ‌said two people familiar with the matter. The proposed conditions, which would be negotiated with Air India’s majority owner Tata Sons, could include greater board voting power and requirements for the Indian carrier to narrow its losses, the people said. Temasek, Singapore Airlines’ majority shareholder, would neither provide the capital itself nor intervene in the carrier’s decisions concerning Air India, they added. The discussion ​of conditions comes

B’desh foreign minister silent on PM Rahman’s India BRICS summit visit

United Nations, Sep 9 (PTI) Bangladesh Foreign Minister Khalilur Rahman on Tuesday declined to comment on whether Prime Minister Tarique Rahman will attend the BRICS Summit in India, despite New Delhi inviting him to an outreach session of the grouping. India will host the annual BRICS summit in New Delhi on September 12 and 13, with discussions expected to focus on pressing global challenges, including the economic impact of the West Asia crisis. “I’m not here (in a) national capacity, so please forgive me… I will really ask all of you to ask me questions or approach me in my

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