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Rupee falls 12 paise to close at 88.14 against US dollar

Mumbai, Sep 4 (PTI) The rupee fell 12 paise to close at 88.14 (provisional) against the US dollar on Thursday amid sustained foreign fund outflows and a stronger greenback. However, positive sentiment in the domestic equity markets — which were buoyed by the GST rate revision — and a drop in international crude oil prices prevented sharper losses in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened at 88.09 against the US dollar and traded in the range of 87.85-88.19 before settling at 88.14 (provisional), down 12 paise from its previous close. The

Sensex, Nifty close marginally higher as profit-taking in RIL, Infosys spoils GST rate cut party

Mumbai, Sep 4 (PTI) Benchmark stock indices Sensex and Nifty pared most of the early gains to settle marginally higher on Thursday as profit taking in index heavyweight Reliance Industries and Infosys took away the sheen of the GST rate cuts announced on commonly used personal items and daily essential products. Shedding 738 points from the day’s high, the 30-share Sensex finally settled 150.30 points or 0.19 per cent higher at 80,718.01. As many as 19 of its shares closed in red while 11 settled higher. The barometer jumped 888.96 points or 1.10 per cent to a high of 81,456.67

Reactions after India cuts GST on hundreds of items

Sept 4 (Reuters) – India late on Wednesday announced GST cuts on hundreds of consumer items ranging from soaps to small cars to spur domestic demand, and simplified its complicated GST (Goods and Services Tax) structure to two rate slabs from four, with some exceptions for luxury and “sin” goods. The benchmark BSE Sensex and Nifty 50 rose 0.8% each in early sessions. Here is how the industry has reacted so far: ANISH SHAH, GROUP CEO and MD, MAHINDRA GROUP “The next-generation GST reforms… mark a defining moment in India’s journey towards building a simpler, fairer, and more inclusive tax

Gold futures retreats from record high to Rs 1,05,800/10 g on profit booking

New Delhi, Sep 4 (PTI) Gold prices on Thursday eased from their record highs, plunging Rs 1,395 to Rs 1,05,800 per 10 grams in futures trade on the MCX as traders booked profits at higher levels amid a bearish sentiment in the global markets. On the MCX, the most traded gold futures for October delivery declined Rs 1,395, or 1.30 per cent, to Rs 1,05,800 per 10 grams in the morning trade. It had rallied to hit an all-time high of Rs 1,07,226 per 10 grams on the Multi Commodity Exchange (MCX) on Wednesday. The precious metal futures for December

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