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CPI follows Congress, extends support to TVK

Chennai, May 8 (PTI) The CPI on Friday declared unconditional support to actor-politician Vijay-led TVK for government formation. The Left party, following deliberations, decided to extend support and accordingly, gave an “unconditional letter of support support for government formation,” party sources said. The letter was addressed to Tamil Nadu Governor RV Arlekar. The CPI has two MLAs in the 234-member TN Assembly. The Left party’s move comes in the wake of TVK reaching out to DMK allies– CPI, CPI(M) and VCK seeking their support to form government after emerging as the single largest party following the April 23 Assembly polls

Rupee falls 25 paise to close at 94.47 against US dollar

Mumbai, May 8 (PTI) The rupee depreciated 25 paise to close at 94.47 (provisional) against the US dollar on Friday, after rising in the past two sessions, on renewed tensions between the US and Iran over the Strait of Hormuz. Forex traders said investor sentiments were affected after Iran accused the US of violating the ceasefire as the US carried out fresh attacks in the Strait of Hormuz and civilian areas, while President Donald Trump said the ceasefire was still in effect. Brent oil prices, which had fallen to USD 98 per barrel amid the US-Iran peace deal, edged higher

Stock markets fall for 2nd day amid renewed tensions in West Asia; Sensex slumps 516 points

Mumbai, May 8 (PTI) Equity markets stayed on the back foot for the second day on Friday as fresh geopolitical tensions in West Asia revived concerns over energy supplies and weighed heavily on investor sentiment. Foreign fund outflows and a weak trend in global markets further added to the bearish trend. The 30-share BSE Sensex tanked 516.33 points, or 0.66 per cent, to settle at 77,328.19. During the session, it tumbled 698.09 points, or 0.89 per cent, to 77,146.43. The 50-share NSE Nifty dropped 150.50 points, or 0.62 per cent, to end at 24,176.15. From the Sensex pack, State Bank

TVK supporters rally outside Lok Bhavan, Vijay’s house, amid uncertainty over govt formation in TN

Chennai, May 8 (PTI) High drama unfolded outside TVK chief Vijay’s residence in Neelangarai on Friday as party workers and supporters gathered in large numbers amid continuing uncertainty over government formation in Tamil Nadu. The atmosphere remained charged as supporters, some dressed in the TVK “uniform”— a beige trousers-and-white shirt combination worn by Vijay since entering politics—raised slogans hailing the actor-turned-politician as the “eternal chief minister”. The gathering comes amid speculation over possible alliances and the party’s stand on the current political situation. Eyewitnesses reported chaotic scenes after a supporter riding a motorcycle stopped abruptly outside the guarded premises and

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