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Rupee rises 12 paise to USD 85.42 against US dollar in early trade

Mumbai, May 16 (PTI) Rupee rose 12 paise to 85.42 against the greenback in early trade, buoyed by strong FII inflows and a weaker dollar index. However, widening of trade deficit, a weaker start in the domestic equity markets and a rise in Brent crude prices capped further gains in the local unit, according to forex traders. At the interbank foreign exchange, the rupee opened strong at 85.28 against the US dollar before dropping to 85.42, higher by 12 paise from its previous close. On Thursday, the rupee depreciated 22 paise to close at 85.54 against the greenback. “Rupee is

Stock markets decline in early trade after sharp rally in previous session

Mumbai, May 16 (PTI) Benchmark indices Sensex and Nifty declined in early trade on Friday amid emergence of profit-taking after a sharp rally in the previous trading session. Markets were dragged lower due to selling in IT stocks and a largely weak trend in Asian markets. After a weak start to the day, the 30-share BSE benchmark gauge Sensex further declined 252.97 points to 82,277.77 in early trade. The NSE Nifty dropped 67.6 points to 24,994.50. From the Sensex firms, Bharti Airtel, IndusInd Bank, State Bank of India, Infosys, Power Grid, HCL Tech, Tech Mahindra and Mahindra & Mahindra were

Asian shares are mixed after Wall Street’s rally steadied

HONG KONG, May 16, 2025 (AP) — Shares were mixed Friday in Asia after Wall Street drifted higher as reports suggested the Federal Reserve may have more leeway to cut interest rates later this year to support the U.S. economy if it weakens under the weight of President Donald Trump’s high tariffs. U.S. futures and oil prices were little changed. Markets have calmed somewhat after the turmoil unleashed by Trump’s on-again, off-again tariffs offensive, aimed at compelling companies to base manufacturing inside the United States. But the policies are already taking a toll. The United Nations on Thursday forecast slower

US Supreme Court could block Trump’s birthright citizenship order but limit nationwide injunctions

WASHINGTON, May 16, 2025 (AP) — The US Supreme seemed intent Thursday on maintaining a block on President Donald Trump’s restrictions on birthright citizenship while looking for a way to scale back nationwide court orders. It was unclear what such a decision might look like, but a majority of the court expressed concerns about would happen if the Trump administration were allowed, even temporarily, to deny citizenship to children born to people who are in the United States illegally. The justices heard arguments in the Trump administration’s emergency appeals over lower court orders that have kept the citizenship restrictions on

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