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Sensex. Nifty pare early gains to close lower for 7th straight session; IT, banking shares major drag

Mumbai, Feb 13 (PTI) Benchmark indices Sensex and Nifty pared early gains to close lower for the seventh straight day on Thursday, dragged by fag-end selling in select IT and banking shares and foreign fund outflows. The 30-share BSE Sensex dipped 32.11 points or 0.04 per cent to settle at 76,138.97. The index stayed in the positive zone for the most part of the session. The benchmark gyrated 751.1 points between the day’s high of 76,764.53 and low of 76,013.43. The NSE Nifty slipped 13.85 points or 0.06 per cent to 23,031.40. From the 30-share blue-chip pack, Adani Ports, Infosys,

Rupee settles 3 paise higher at 86.92 against US dollar

Mumbai, Feb 13 (PTI) The rupee settled almost flat with a gain of just 3 paise at 86.92 (provisional) against the US dollar on Thursday as the support from soft American currency and and easing crude oil prices overseas was negated by a lacklustre trend in domestic equities. According to forex traders, the unabated outflow of foreign funds weighed on the Indian currency and capped its recovery even though the greenback weakened after the US data showed higher-than-expected inflation, trimming hopes of a rate cut by the Federal Reserve. At the interbank foreign exchange, the rupee opened stronger at 86.82,

Adani says to withdraw from wind power projects in Sri Lanka

COLOMBO, Feb 13 (Reuters) – Adani Green Energy said it will withdraw from two proposed wind power projects in Sri Lanka, according to a letter sent by the company to a Sri Lankan government agency. The Sri Lankan government said last month it has started talks with the Adani Group to lower the cost of power from the projects estimated to cost a total of $1 billion. “It was learnt that another Cabinet appointed negotiations committee and Project Committee would be constituted to renegotiate the project proposal,” the company wrote in a letter, a copy of which was seen by

Markets rebound in early trade after 6-day slump

Mumbai, Feb 13 (PTI) Equity benchmark indices Sensex and Nifty rebounded in early trade on Thursday following a better-than-expected decline in CPI inflation in January and value-buying at lower levels. The 30-share BSE benchmark Sensex climbed 214.08 points to 76,385.16 in early trade. The NSE Nifty rallied 69.8 points to 23,115.05. From the 30-share blue-chip pack, Kotak Mahindra Bank, Mahindra & Mahindra, Zomato, Bajaj Finserv, Bajaj Finance and Tata Steel were the biggest gainers. Tech Mahindra, Titan, IndusInd Bank, Tata Consultancy Services, HCL Tech and Tata Motors were among the laggards. Continuing the downward trend, retail inflation fell to a

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