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Rupee plummets 31 paise to settle at 90.99 against US dollar

Mumbai, Feb 20 (PTI) The rupee plunged 31 paise to settle at 90.99 (provisional) against the US dollar on Friday, tracking a strong American currency against major currencies and higher crude oil prices amid intensifying US-Iran tensions. Positive momentum in domestic equity markets failed to support the Indian, forex analysts said. They attributed the strengthening greenback and volatile crude prices to heightened tension between the US and Iran, with both countries signalling they are prepared for war if talks on Tehran’s nuclear programme fizzle out. At the interbank foreign exchange, the rupee opened at 90.94 against the US dollar and

Sensex rebounds 316 pts, Nifty ends above 25,550; banks, metal stocks lead recovery

Mumbai, Feb 20 (PTI) Stock markets rebounded on Friday with the benchmark Sensex closing higher by 316 points after heavy buying in banking and metal shares amid optimism over trade deal progresses and India’s participation in Pax Silica. The 30-share BSE Sensex climbed 316.57 points, or 0.38 per cent, to settle at 82,814.71. During the day, the benchmark appreciated by 633.94 points, or 0.76 per cent, to hit an intraday high of 83,132.08. The 50-share NSE Nifty advanced 116.90 points, or 0.46 per cent, to close at 25,571.25, as 36 of its components ended in the positive zone and 14

Supreme Court refuses to entertain plea to restrain naming of religious structures in Babur’s name

New Delhi, Feb 20 (PTI) The Supreme Court on Friday refused to entertain a plea seeking a direction to restrain the construction or naming of any mosque or religious structure in the name of Mughal emperor Babur or Babri Masjid. After a bench of Justices Vikram Nath and Sandeep Mehta showed its disinclination in entertaining the plea, the counsel appearing for the petitioner withdrew it. The counsel referred to suspended Trinamool Congress MLA Humayun Kabir’s announcement to construct a replica of the Babri Masjid in West Bengal’s Murshidabad district. The plea sought a direction to the Centre, states and others

Investors stung by AI could turn to India, lured by domestic demand, growth

MUMBAI, Feb 20 (Reuters) – India’s story of growth, insulated from AI exposure, could propel its markets to the front of investors’ minds and draw back foreign cash, as a shakeout in bets on artificial intelligence gathers pace elsewhere. Left behind and sold by foreigners through a years-long rally in everything tied to computing and AI infrastructure, India’s “anti-AI” equity market is starting to catch up, as the South Asian nation’s growth prospects and currency strength improve. The Reuters Inside Track newsletter is your essential guide to the biggest events in global sport. Sign up here. That could turn around

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