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India inflation likely rose to 4% in May as food, fuel costs climb: Reuters poll

BENGALURU, June 8 (Reuters) – India’s inflation likely rose ​to the Reserve Bank of India’s medium-term target of 4% in May, driven by a pickup in ‌vegetable prices and higher fuel costs following the U.S. and Israel war against Iran, a Reuters poll of economists showed. Inflation has remained below the RBI’s 4% target for 15 consecutive months. But that benign trend is unlikely to continue, with state-owned fuel retailers raising fuel prices four times in May ​alone, pushing up transport costs, while food inflation continued to rise from last year’s low levels. But, with inflation ​still within target and

Rupee falls 56 paise to close at 95.74 against US dollar

Mumbai, Jun 8 (PTI) The rupee depreciated 56 paise to settle at 95.74 (provisional) against the American currency on Monday, pressured by elevated crude oil prices and the strength of the US dollar in the overseas market due to higher risk aversion amid escalating geopolitical tensions. Forex traders said the USD/INR pair erased the previous trading session’s gains on risk aversion in global markets. Further, a sharp jump in crude oil prices and a rise in the US dollar index dented investor sentiment. At the interbank foreign exchange market, the rupee opened at 95.35, then touched an intraday high of

Stock markets slump amid weak global cues, surging oil prices; Sensex tanks 719 points

Mumbai, Jun 8 (PTI) Benchmark indices Sensex and Nifty slumped on Monday, tracking a sharp decline in global equities and a fresh spike in crude oil prices, amid flaring tensions in West Asia. Extending losses for the second straight session, the 30-share BSE Sensex tumbled 719.08 points, or 0.97 per cent, to settle at 73,524.26. During the day, it dived 924.4 points, or 1.24 per cent, to 73,318.94. The 50-share NSE Nifty settled 243.70 points, or 1.04 per cent, lower at 23,123. In intra-day trade, the benchmark lost 296.55 points, or 1.26 per cent, to 23,070.15. Among the Sensex constituents,

INDIA bloc meeting: Opposition leaders decide to write to CJI on SIR, seek Pradhan’s resignation

New Delhi, Jun 8 (PTI) Leaders of 25 opposition parties met here on Monday and decided to send a letter to the chief justice of India on the SIR and the “vote loot” issue, besides demanding the immediate resignation of Education Minister Dharmendra Pradhan over the NEET-CBSE exams row. Addressing a press conference after the INDIA bloc meeting here, Congress chief Mallikarjun Kharge said the leaders also demanded that the Union government convenes an all-party meeting to discuss the “precarious current economic situation” in the country, besides unemployment, price rise, issues of farmers and oppressed sections of society. He said

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