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Sensex tumbles 558 points on sell-off in IT shares

Mumbai, Feb 12 (PTI) Benchmark BSE Sensex fell 558 points on Thursday amid heavy selling in IT shares, as concerns over AI-led disruptions and waning hopes of a Fed rate cut after firm US economic data weighed on investor sentiment. The 30-share BSE Sensex declined 558.72 points, or 0.66 per cent, to settle at 83,674.92. During the day, it tanked 716.97 points, or 0.85 per cent, to hit an intraday low of 83,516.67. The 50-share NSE Nifty declined 146.65 points, or 0.57 per cent, to end at 25,807.20. Technology stocks led the slide, with Tech Mahindra, Infosys and Tata Consultancy

FM misinforming Parliament on WTO to justify sellout Indo-US interim trade deal: Anand Sharma

New Delhi, Feb 12 (PTI) Congress leader Anand Sharma slammed Finance Minister Nirmala Sitharaman on Thursday for criticising India’s stand at the WTO Ministerial Conference in Bali in 2013 during the UPA rule, and accused her of “deliberately misinforming” Parliament to justify the “sellout” interim trade deal with the US. Just for for political gains, Sitharaman was misleading the nation and making an “orchestrated claim” that the UPA government “sold out” India’s food security at the WTO meeting in Bali, the former commerce minister alleged in a statement. “It is unfortunate and shocking that Finance Minister Nirmala Sitharaman has deliberately

January retail inflation at 2.75% in first print under new data series

NEW DELHI, Feb 12 (Reuters) – Key inflation rate accelerated to 2.75% in January on higher food and precious metal prices, the maiden print under a revised data series showed on Thursday, returning to the RBI’s target band for the first time since August. The new series changes the weighting of key components such as food and housing, while moving the base year to 2024 from 2012 to better capture changes in consumption patterns over the years. Annual retail inflation was at 1.33% in December under the old base year of 2012, government data showed. A Reuters poll had projected

Rupee rises 17 paise to close at 90.61 against US dollar

Mumbai, Feb 12 (PTI) The rupee appreciated 17 paise to settle for the day at 90.61 (provisional) against the US dollar on Thursday, as foreign fund investments lifted investor sentiments. Forex traders said foreign fund inflows, while not massive, provided a psychological anchor. Moreover, the RBI has been quietly ensuring that liquidity remains abundant in the banking system, they said. At the interbank foreign exchange market, the rupee opened at 90.55 against the US dollar, and touched an intraday high of 90.40 and a low of 90.65 during the day. At the end of the trading session on Thursday, the

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