By Rama Venkat BENGALURU (Reuters) -Indian shares hit a near three-week high on Thursday, after two straight sessions of losses, led by gains in automobile and banking stocks, and a sharp fall in global oil prices. The NSE Nifty 50 index was up 0.67% at 17,742.30, as of 0521 GMT, while the S&P BSE Sensex …
Indian shares hit near three-week high as oil declines Read More »
NEW DELHI (Reuters) -Fitch Group unit CreditSights said it had discovered calculation errors in its recent debt report on two power and transmission companies controlled by India’s richest person, Gautam Adani, following a conversation with the management. CreditSights’s report late last month calling the conglomerate “deeply overleveraged” and flagging other risks had sent shares of …
CreditSights finds errors in debt report on India’s Adani group firms Read More »
By Laura Sanicola (Reuters) -Oil prices settled sharply lower on Wednesday, slumping below levels seen prior to Russia’s invasion of Ukraine as downbeat Chinese trade data fed investor worries about recession risks. Brent crude futures settled down $4.83 to $88 a barrel, falling below $90 a barrel for the first since Feb. 8. U.S. West …
By Brijesh Patel (Reuters) – Gold bounced back on Wednesday helped by the dollar’s slight retreat from a two-decade high and as bargain hunters took advantage of recent losses, but the precious metal’s outlook was still clouded by prospects of aggressive rate hikes. Spot gold rose 0.9% to $1,716.59 per ounce by 2:02 p.m. ET …
Bargain hunters bolster gold as rate hike headwinds persist Read More »
(Reuters) -India’s August fuel consumption was little changed from the previous month, government data released on Wednesday showed, even as diesel demand dropped to the lowest this year during monsoon season in the world’s No. 3 oil consumer. Fuel consumption, a proxy for oil demand, rose 16.3% to 17.81 million tonnes from August 2021, but …
India’s August fuel demand steady m-o-m, diesel consumption drops Read More »
BENGALURU (Reuters) -Indian shares ended lower on Wednesday, dragged by auto stocks, while a weaker broader market weighed on sentiment. The Nifty 50 index ended 0.18% lower at 17,624.4, after falling up to 1% earlier in the session. The S&P BSE Sensex closed 0.28% lower at 59,028.91. The Nifty Midcap 100 and the Nifty Smallcap …
MUMBAI (Reuters) – India’s overall foreign exchange reserves will deplete further this year due to a ballooning current account deficit and interventions by the central bank to support the rupee, Deutsche Bank said on Wednesday. The country’s trade deficit could rise to as much as $300 billion in 2022-23 fiscal year, pushing the current account …
India’s overall forex reserves to shrink further this year – Deutsche Bank Read More »
By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) – An industry group for tech and telco giants in India has urged the central government to control internet shutdowns in the country to help avoid uncertainties stemming from states giving these orders, according to sources and a letter seen by Reuters. The government in 2019 …
Tech, telco firms in India seek federal oversight of internet shutdowns Read More »
(Reuters) – Standard Chartered on Wednesday raised its estimate of India’s current account deficit (CAD) as a share of the gross domestic product for 2023, citing higher commodity prices and chances of an export slowdown. The British bank raised its CAD forecast for fiscal year ending March 2023 to 3.8% of India’s GDP from its …
Standard Chartered raises India’s current account deficit estimate for FY23 Read More »
By Arsh Tushar Mogre and Devayani Sathyan BENGALURU (Reuters) – India’s battered rupee will trade not far from its lifetime low against the U.S. dollar into next year and remain vulnerable to a worsening trade balance and an aggressive U.S. Federal Reserve rate-hiking campaign, according to a Reuters poll. Sinking with other emerging currencies against …
More trouble ahead for bruised Indian rupee – Reuters poll Read More »
