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Iran war to weigh more on Indian growth than inflation, keeping interest rates low

MUMBAI, March 5 (Reuters) – The U.S. and Israel’s attack on Iran is expected to weigh more on India’s economic growth than its inflation, which will encourage the Reserve Bank of India to keep interest rates low, three sources familiar with policymakers’ thinking and analysts said. The conflict, which has rippled out across much of the Middle East, has pushed up oil prices by about 15%, ​disrupted gas flows from the region and triggered selloffs in Indian equity, debt and currency markets, with the rupee hitting a record low and bond yields rising due to ‌concerns about India’s current account

Rupee rebounds from lowest level to settle 45 paise higher at 91.60 against US dollar

Mumbai, Mar 5 (PTI) The rupee rebounded from its lowest level and settled with a gain of 45 paise at 91.60 (provisional) against US dollar on Thursday on the back of a buying trend in domestic equity markets and reports of Reserve Bank intervention. According to forex analysts, the Reserve Bank seems to have intervened to help the local currency from extreme volatility due to uncertainties on the ongoing war involving the US, Israel and Iran. However, a firm dollar, rising crude oil prices and intense withdrawal of foreign funds kept the rupee under pressure, they said. At the interbank

Stock markets rebound tracking rally in global peers; Sensex rallies 899 pts

Mumbai, Mar 5 (PTI) Benchmark stock indices Sensex and Nifty bounced back on Thursday, closing higher by more than 1 per cent in line with a rebound in global equities after recent sharp losses due to the conflict in West Asia. Snapping its four-day decline, the 30-share BSE Sensex rebounded 899.71 points or 1.14 per cent to settle at 80,015.90. During the day, it surged 1,187.64 points or 1.50 per cent to 80,303.83. The 50-share NSE Nifty climbed 285.40 points or 1.17 per cent to end at 24,765.90, ending its three-day falling streak. From the Sensex pack, Adani Ports, Larsen

Russia accuses US and Israel of trying to drag Arab countries into a wider Middle East conflict

MOSCOW, March 5 (Reuters) – Russia on Thursday accused the United States ​and Israel of trying to drag Arab ‌countries into a wider Middle East conflict by provoking Iran into striking targets across the region and said there ​was no sign Washington and Tel Aviv ​would let up. Arab states in the Gulf, all ⁠close U.S. allies – some of which also ​have close ties with Russia – have come under ​Iranian drone and missile attacks since the United States and Israel launched their air strikes on Iran on Saturday. Russian President ​Vladimir Putin spoke by phone to leaders of

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