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Rupee falls 28 paise to close at 88.13 against US dollar

Mumbai, Sep 18 (PTI) The rupee depreciated 28 paise to close at 88.13 (provisional) against the US dollar on Thursday, on hawkish Fed and a bounce back in the US dollar. Forex traders said traders assessed the US FED outlook following a rate cut. The US FED reduced rates by a quarter point as expected and indicated that it will steadily lower borrowing costs for the rest of the year. Moreover, the rupee remained under pressure on worries over US tariffs on India and global trade uncertainties. Besides, sustained foreign fund outflows also dented investor sentiments. At the interbank foreign

Stock markets rise for 3rd day on US Fed rate cut; Sensex gains 320 pts

Mumbai, Sep 18 (PTI) Stock markets advanced for the third consecutive day on Thursday, with the benchmark Sensex gaining 320 points to close above 83,000 level after the US Federal Reserve cut its key interest rate by 25 basis points and signalled the possibility of two additional rate reductions this year. The 30-share BSE Sensex rallied 320.25 points or 0.39 per cent to settle at 83,013.96. During the day, it jumped 447.5 points or 0.54 per cent to 83,141.21. The 50-share NSE Nifty climbed 93.35 points or 0.37 per cent to 25,423.60. Shares of pharma, IT and financial companies edged

Solution to tariff issues with US likely in eight to ten weeks: CEA

Kolkata, Sep 18 (PTI) Chief Economic Advisor V Anantha Nageswaran on Thursday said he expects that a solution to the tariff issues with the US is likely to be arrived in the next eight to ten weeks. The additional 25 per cent tariff imposed by the US on Indian products for the country’s purchases of Russian oil came into effect in August, bringing the total amount of levy on New Delhi to 50 per cent. Speaking at an interactive session organised by Bharat Chamber of Commerce here, he said, “Underneath the surface, conversations are going on between the two governments.

CEC Gyanesh Kumar protecting “vote chors’, destroyers of democracy: Rahul Gandhi

New Delhi, Sep 18 (PTI) Congress leader Rahul Gandhi on Thursday accused Chief Election Commissioner Gyanesh Kumar of protecting “vote chors” and people who have destroyed democracy, and cited data from a Karnataka Assembly constituency to claim that votes of Congress supporters were being systematically deleted ahead of elections. The Election Commission must stop this and provide within a week information sought by the Karnataka CID in an investigation into voter deletions, Gandhi said at a press conference at the Congress’ Indira Bhawan headquarters here. The leader of opposition in the Lok Sabha said his revelations today were another milestone

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