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Stock markets decline in early trade on selling in IT shares, sluggish Asian peers

Mumbai, May 30 (PTI): Benchmark stock indices Sensex and Nifty declined in early trade on Friday, dragged by IT shares and sluggish trends in Asian markets. The 30-share BSE Sensex declined by 219 points to 81,414.02 in early trade. The NSE Nifty dipped 53.6 points to 24,780. Investors turned cautious ahead of the release of domestic GDP data, analysts said. From the Sensex firms, Infosys, Tech Mahindra, HCL Tech, IndusInd Bank, Mahindra & Mahindra and Tata Consultancy Services were among the laggards. Larsen & Toubro, Adani Ports, Eternal, Nestle, Sun Pharma and Maruti were among the gainers. In Asian markets,

Rupee rises 19 paise to 85.29 against US dollar in early trade

Mumbai, May 30 (PTI) The rupee strengthened by 19 paise to 85.29 against the US dollar in early trade on Friday on the back of lower crude oil prices and sustained foreign fund inflows. Forex traders said a firm greenback and volatile stock markets capped the rupee’s gain even as market participants stayed cautious ahead of the release of domestic GDP data. At the interbank foreign exchange, the domestic unit opened at 85.35 and gained further to trade at 85.29 against the greenback in initial deals, registering a rise of 19 paise from its previous close. The rupee ended 10

US administration tells NY court India-Pak reached ‘tenuous ceasefire’ after Trump ‘interceded’

New York, May 29 (PTI) The Trump administration has told a New York court that India and Pakistan reached a “tenuous ceasefire” only after President Donald Trump “interceded and offered both nations trading access with the US to avert a full-scale war”. Indian government sources have maintained that the two countries reached an understanding without any third-party involvement. Commerce Secretary Howard Lutnick made the remarks in a submission to the Court of International Trade last week, arguing that Trump used his emergency powers under the International Emergency Economic Powers Act (IEEPA) to impose tariffs aimed at protecting US national security

Rupee declines 10 paise to settle at 85.48 against US dollar

Mumbai, May 29 (PTI) The rupee declined 10 paise to close at 85.48 (provisional) against the US dollar on Thursday due to a strong American currency against major crosses overseas and rising global crude oil prices. However, positive domestic equity market and foreign fund inflows supported the local currency and restricted its slide, forex traders said. At the interbank foreign exchange, the domestic unit opened at 85.56 and touched the intra-day low of 85.62 against the greenback. The unit hit the day’s high of 85.40 before ending the session at 85.48 (provisional) against the dollar, 12 paise lower from its

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