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Markets drop in early trade after sharp rally in previous session

Mumbai, May 13 (PTI) Equity benchmark indices Sensex and Nifty dropped in early trade on Tuesday, a day after recording a sharp rally, amid the emergence of profit-taking. The 30-share BSE benchmark gauge Sensex, declined by 497.5 points to 81,932.40 in early trade. The NSE Nifty dropped 117.2 points to 24,807.50. Later, the BSE benchmark index quoted 788.62 points down at 81,641.28, and the Nifty traded with a cut of 209.90 points at 24,714.80. From the Sensex firms, Infosys, Eternal, Power Grid, Kotak Mahindra Bank, ICICI Bank, HCL Tech, Tata Consultancy Services and Nestle were among the major laggards. Sun

Rupee jumps 74 paise to 84.62 against US dollar in early trade

Mumbai, May 13 (PTI) The rupee appreciated 74 paise to 84.62 against the US dollar in early trade on Tuesday, supported by optimism from easing of tensions between India and Pakistan as well as the US-China trade deal. Forex traders said continued foreign investor interest in Indian assets lent fundamental support to the local unit. India and Pakistan on last Saturday announced reaching an understanding to stop all firings and military actions on land, air and sea, with immediate effect. At the interbank foreign exchange, the domestic unit opened at 84.70 and fell to an early low of 84.74 and

Russian drones attack Ukraine after the Kremlin turns down a ceasefire proposal but promises talks

KYIV, Ukraine, May 13, 2025 (AP) — Russia launched more than 100 Shahed and decoy drones at Ukraine in nighttime attacks, the Ukrainian air force said Monday, after the Kremlin effectively rejected an unconditional 30-day ceasefire in the more than three-year war, but reiterated it would take part in possible peace talks later this week without preconditions. There was no direct response from the Kremlin, meanwhile, to Ukrainian President Volodymyr Zelenskyy’s challenge for Russian leader Vladimir Putin to meet him for face-to-face peace talks in Turkey on Thursday. Kremlin spokesman Dmitry Peskov refused to say who might travel to Istanbul

Trump’s mediation offer renews focus on Kashmir after India-Pakistan clash risked broader war

SRINAGAR, India, May 13, 2025 (AP) — A series of military strikes last week by India and Pakistan brought the nuclear-armed rivals closer to a broader war. The possibility of a nuclear conflagration seemed real and the fighting only stopped when global powers intervened. Experts say the crisis deepened the neighbors’ rivalry as both crossed a threshold with each striking the other with high-speed missiles and drones. The tit-for-tat strikes also brought Kashmir again into global focus, as the U.S. President Donald Trump offered mediation over the simmering dispute that has long been described as the regional nuclear flashpoint. Paul

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