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Rupee rises 23 paise to close at 94.26 against US dollar

Mumbai, May 7 (PTI) The rupee pared initial losses and settled for the day on a positive note, higher by 23 paise at 94.26 (provisional) against the greenback on Thursday, as Brent crude and the US dollar index retreated from their elevated levels. Forex traders said Brent oil prices have fallen below USD 100 per barrel on a rise in investor risk appetite in global markets on hopes of peace between the US and Iran. However, factors such as unabated foreign capital outflows and safe-haven dollar demand from importers capped sharp gains for the rupee. At the interbank foreign exchange

Hundreds arrested after post-poll violence kills at least three in Bengal

NEW DELHI, May 7 (Reuters) – Hundreds of people were arrested after post-election violence erupted this ​week in West Bengal state, killing ‌at least three people, including the aide to a senior leader of Prime Minister Narendra ​Modi’s Bharatiya Janata Party. Here are some ​details. Modi’s BJP defeated incumbent Chief Minister Mamata ⁠Banerjee’s Trinamool Congress (TMC) in the election in ​West Bengal state, where she has held ​power since 2011. Banerjee has refused to resign, saying she has “not been defeated” and accusing the Election Commission ​of colluding with the BJP to win ​the election. More than 200 criminal cases

Stock markets turn flat in volatile trade

Mumbai, May 7 (PTI) Benchmark indices Sensex and Nifty declined in early deals on Thursday in a highly volatile trade as investors turned cautious amid unabated foreign fund outflows and rising geopolitical uncertainties. The 30-share BSE Sensex declined 160.24 points to 77,798.28 in early trade. The 50-share NSE Nifty dipped 30.25 points to 24,300.70. Later both the benchmark indices were trading between highs and lows. From the 30-Sensex firms, Tata Consultancy Services, Hindustan Unilever, Adani Ports, Power Grid, Tech Mahindra and Sun Pharma were among the laggards. Mahindra & Mahindra, Eternal, Tata Steel, UltraTech Cement, ICICI Bank and Maruti were

Rupee falls 28 paise to 94.77 against US dollar in early trade

A man counts Indian rupee currency notes inside a shop in New Delhi, India. (Photo: Reuters)

Mumbai, May 7 (PTI) The rupee depreciated 28 paise to 94.77 against the US dollar in early trade on Thursday as market sentiment took a dramatic turn after reports emerged that the US and Iran are discussing a 14-point Memorandum of Understanding (MOU) aimed at reducing tensions and reopening negotiations. Forex traders said Brent oil prices, which had fallen to USD 98 on the US-Iran peace deal, edged slightly higher to USD 101 per barrel after investors weighed the prospects for a Middle East peace deal. Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties further dented

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