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India has no proposal to provide financial support to state run fuel retailers, official says

NEW DELHI, May 4 (Reuters) – India has no ​proposal to provide financial ‌support to state-run fuel retailers for the ​losses they ​incur on sales of gasoline, ⁠gasoil and ​jet fuel at below ​market rates, Sujata Sharma, a joint secretary in ​the federal Petroleum ​ministry, said on Monday. Indian state ‌fuel ⁠retailers have raised prices for liquefied petroleum gas for industrial ​customers ​and ⁠jet fuel rates for foreign ​carriers. There has ​been ⁠no increase in retail prices of ⁠gasoline, ​gasoil, LPG ​or jet fuel for Indian ​carriers.

Stock markets end higher; Sensex rallies 356 points

Mumbai, May 4 (PTI) Benchmark indices Sensex and Nifty ended higher on Monday, helped by buying in blue-chip stocks and state poll results moving towards an outcome in line with market expectations. The 30-share BSE Sensex climbed 355.90 points or 0.46 per cent to settle at 77,269.40. During the day, it jumped 997.25 points or 1.29 per cent to 77,910.75. The 50-share NSE Nifty rallied 121.75 points or 0.51 per cent to end at 24,119.30. From the 30-Sensex firms, Adani Ports, Hindustan Unilever, Reliance Industries, Larsen & Toubro, Eternal and Maruti were among the biggest gainers. Bharti Airtel, Kotak Mahindra

Rupee falls 39 paise to close at all-time low of 95.23 against US dollar

Mumbai, May 4 (PTI) Rupee fell 39 paise to close at an all-time low of 95.23 (provisional) against the US dollar on Monday, as the ongoing Middle East tensions are causing volatility in global markets, keeping oil prices high and raising fears of inflation and economic slowdown. Forex traders said Brent oil, hovering near USD 110 per barrel, is maintaining pressure on oil-importing economies like India. Moreover, factors such as unabated foreign capital outflows amid rising geopolitical uncertainties dented investor sentiments further. At the interbank foreign exchange market, the rupee opened at 94.95 against the US dollar, then lost ground

Stock markets surge in early trade

Mumbai, May 4 (PTI) Benchmark indices Sensex and Nifty surged in early trade on Monday amid easing oil prices and improving global sentiment, with Asian markets also trading higher. The 30-share BSE Sensex jumped 657.80 points to 77,571.30 in early trade. The 50-share NSE Nifty climbed 213.35 points to 24,215.10. From the 30-Sensex firms, Maruti surged 4 per cent after the car market leader reported a record total sales of 2,39,646 units in April, a 33.29 per cent year-on-year growth, making a strong start to the new fiscal with its small cars showing robust growth. Hindustan Unilever, Larsen & Toubro,

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