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Stock markets rally: Sensex jumps 1,200 pts, Nifty reclaims 25K peak after 7 months

Indian stocks trader watch share prices on his screen during intra-day trade in Mumbai.

Mumbai, May 15 (PTI) Benchmark BSE Sensex soared by 1,200 points while NSE Nifty closed above the 25,000 mark for the first time in seven months on Thursday following across-the-board buying by investors and fresh foreign fund inflows into shares. Rising for the second day, the 30-share BSE Sensex jumped 1,200.18 points or 1.48 per cent to settle at a seven-month high of 82,530.74 with 29 of constituents ending higher. The index moved in a range in the first half but picked up momentum in the afternoon session following sharp gains in banking, auto, IT and oil & gas shares.

Rupee slumps 18 paise to close at 85.50 against US dollar

Mumbai, May 15 (PTI) The rupee depreciated 18 paise to close at 85.50 (provisional) against the US dollar on Thursday, weighed down by demand for American dollars from importers and foreign fund outflows. Forex traders the rupee declined on dollar demand. However, a surge in the domestic markets and overnight weakness in crude oil prices cushioned the downside. At the interbank foreign exchange, the domestic unit opened at 85.53 and moved between an intra-day high of 85.48 and a low of 85.73 against the greenback. The unit ended the session lower at 85.50 (provisional), registering a fall of 18 paise

Modi agreed to caste census out of fear: Rahul Gandhi

Darbhanga (Bihar), May 15 (PTI) Congress leader Rahul Gandhi on Thursday claimed that Prime Minister Narendra Modi had agreed to hold a caste census “out of fear” of the country’s deprived population, to which the opposition was lending its voice. The leader of the opposition made the remark at a charged-up interaction with students in Darbhanga district of Bihar, where he defied attempts of the local administration to thwart him from reaching the venue. “As you all are aware, my car was stopped at the gate (of Mithila University). But I did not relent. I got out and took a

Trump says India has offered US a trade deal with no tariffs

May 15 (Reuters) – U.S. President Donald Trump said on Thursday that India had offered a trade deal that proposed “no tariffs” for American goods, while expressing his dissatisfaction with Apple’s plans to invest in India. New Delhi is seeking to clinch a trade deal with the U.S. within the 90-day pause announced by Trump on April 9 on tariff hikes for major trading partners. “It is very hard to sell in India, and they are offering us a deal where basically they are willing to literally charge us no tariffs,” Trump said in a meeting with executives in the

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