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Sensex climbs 304 pts, Nifty closes above 24,600 as steady US inflation fuels global rally

Mumbai, Aug 13 (PTI) Stock markets rebounded on Wednesday with benchmark Sensex closing higher by 304 points on buying in metal, auto and pharma shares as steady US inflation data propelled a sharp rally in global markets. The 30-share BSE Sensex climbed 304.32 points or 0.38 per cent to settle at 80,539.91. During the day, it jumped 448.15 points or 0.55 per cent to 80,683.74. The 50-share NSE Nifty edged up by 131.95 points or 0.54 per cent to 24,619.35. Analysts said retail inflation slowing to an 8-year low of 1.55 per cent in July led to the positive trend

Rupee rises 20 paise to close at 87.43 against US dollar

Mumbai, Aug 13 (PTI) The rupee appreciated 20 paise to close at 87.43 (provisional) against the US dollar on Wednesday, as a weak greenback and a positive momentum in domestic equity markets enthused investors. Forex traders said weak crude oil prices and cooling domestic inflation supported the rupee, but uncertainties over trade tariffs and foreign fund outflows capped the sharp upside for the domestic unit. At the interbank foreign exchange, the rupee opened at 87.63, and oscillated between an intraday low of 87.72 and a high of 87.28 against the American currency. The rupee finally settled at 87.43, higher by

Gold falls Rs 500 to Rs 1,01,020/10 g, silver trades flat

New Delhi, Aug 13 (PTI) Gold prices slipped Rs 500 to Rs 1,01,020 per 10 grams in the national capital on Wednesday due to continuous selling by stockists, according to the All India Sarafa Association. The precious metal of 99.9 per cent purity had closed at Rs 1,01,520 per 10 grams in the previous market session. In the national capital, gold of 99.5 per cent purity dipped Rs 500 to Rs 1,00,600 per 10 grams (inclusive of all taxes) on Wednesday. However, silver prices traded flat at Rs 1,12,000 per kilogram (inclusive of all taxes) on Wednesday. Spot gold in

Rudy wins Constitution Club poll; heavyweights like Shah, Sonia vote

New Delhi, Aug 13 (PTI) Rajiv Pratap Rudy maintained his 25-year-old dominance in the Constitution Club management, prevailing over the challenge from fellow BJP leader Sanjeev Balyan in one of its most keenly contested elections, which drew participation from marquee members, including Amit Shah from the BJP and Congress’ Sonia Gandhi. Amid celebration by his supporters, Rudy told reporters well past midnight that he had won by over 100 votes, and members from his panel which drew from different parties had scored a win as well. “It’s a beautiful victory for all the parliamentarians and all those who came to

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