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Sensex, Nifty tumble for 3rd day, dragged by Kotak Bank, US trade deal uncertainty

Mumbai, Jul 28 (PTI) Falling for the third straight session on Monday, benchmark Sensex tumbled by 572 points to close at nearly a two-month low due to heavy selling in Kotak Mahindra Bank, forex outflows and uncertainty related to the India-US trade deal. The 30-share BSE barometer tanked 572.07 points or 0.70 per cent to settle at 80,891.02, a level not seen since June 4. During the day, it slumped 686.65 points or 0.84 per cent to 80,776.44. The 50-share NSE Nifty declined 156.10 points or 0.63 per cent to close at a nearly two-month low of 24,680.90. As many

China opposes Czech president’s visit to Dalai Lama

HONG KONG, July 28 (Reuters) – China said it “resolutely opposed” Czech President Petr Pavel’s meeting in India with Tibetan spiritual leader the Dalai Lama, and urged the Czech side to “abide by its one-China political commitment” and maintain healthy and stable relations. China’s embassy in the Czech Republic posted the notice late on Sunday and said China firmly opposes any form of contact between officials of any country and the Dalai “clique”. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up here. Pavel met with the Dalai Lama on July 27,

Markets fall in initial trade dragged by Kotak Bank, trade deal uncertainty

Mumbai, Jul 28 (PTI) Benchmark equity indices Sensex and Nifty declined in early deals on Monday dragged down by heavy selling pressure in Kotak Mahindra Bank and uncertainty related to the India-US trade deal. Persistent foreign fund outflows and weak trends in Asian markets also hit investors’ sentiment. The 30-share BSE Sensex dropped 369.58 points to 81,093.51 in early trade. The 50-share NSE Nifty declined 104.3 points to 24,732.70. From the Sensex firms, Kotak Mahindra Bank tumbled nearly 7 per cent after the company on Saturday reported a consolidated net profit of Rs 4,472 crore for the June quarter, and

Rupee rises 9 paise to 86.43 against US dollar in early trade

Mumbai, Jul 28 (PTI) The rupee appreciated 9 paise to 86.43 against the US dollar in early trade on Monday, tracking a softer greenback, though the upside for the local unit was limited as US-India tariff negotiations remained in focus. Forex traders said the rupee was trading in a narrow range as the demand for dollar from importers continued to keep the American unit well bid against the rupee. Moreover, the support from developing trade agreements was negated by the sustained foreign fund outflows, they said. At the interbank foreign exchange, the domestic unit opened on a positive note and

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