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Markets drop in early trade dragged by ITC

Mumbai, May 28 (PTI) Equity benchmark indices Sensex and Nifty dropped in early trade on Wednesday, dragged by ITC amid stake sale reports. The 30-share BSE benchmark gauge Sensex declined 200.32 points to 81,351.31 in early trade. The NSE Nifty dipped 61.2 points to 24,765. From the Sensex firms, ITC, IndusInd Bank, Nestle, Titan, Kotak Mahindra Bank, Mahindra & Mahindra, Reliance Industries and Maruti were among the laggards. ITC dropped over 3 per cent amid reports that British American Tobacco ( BAT), the largest shareholder in ITC Ltd, is gearing up to sell part stake in the diversified conglomerate via

Rupee depreciates 23 paise to 85.63 against US dollar in early trade

Mumbai, May 28 (PTI) The rupee fell 23 paise to 85.63 against the US dollar in early trade on Wednesday, dragged down by strengthening American currency and an uptrend in crude oil prices. The local unit also remained under pressure due to increased dollar demand at the end of the month from exporters and banks, even though foreign fund inflow stayed muted amid mixed sentiment in domestic equity markets, forex analysts said. Also, investors moved cautiously, awaiting cues from domestic as well as global macroeconomic data. At the interbank foreign exchange, the domestic unit opened at 85.59 and fell further

Supreme Court dismisses plea to include Savarkar’s name in Emblems Act to prevent its misuse

New Delhi [India], May 27 (ANI): The Supreme Court on Tuesday dismissed a plea seeking directions that the name of Vinayak Damodar Savarkar is not misused and his name be included in the Emblems and Names (Prevention of Improper Use) Act. A bench of Chief Justice of India BR Gavai and Justice Augustine George Masih dismissed the plea, saying no fundamental right of the petitioner is affected. The petitioner, Dr. Pankaj Phadnis, sought directions that the Leader of Opposition, Rahul Gandhi, do community service as punishment for his remarks against Savarkar. Phadnis, who was appearing in person, told the bench

Gold snaps 4-day winning streak; declines Rs 800 to Rs 98,500/10 g

New Delhi, May 27 (PTI) Gold prices declined Rs 800 to Rs 98,500 per 10 grams, bringing an end to its four-day rally, in the national capital on Tuesday amid a fall in precious metal rates globally, according to the All India Sarafa Association. The yellow metal of 99.5 per cent purity depreciated Rs 800 to Rs 98,000 per 10 grams (inclusive of all taxes). It had closed at Rs 98,800 per 10 grams in the previous market session. Additionally, silver prices plunged Rs 1,370 to Rs 99,000 per kg (inclusive of all taxes) on Tuesday. The white metal had

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