MOSCOW (Reuters) – India cranked up Russian oil imports by 4.7 times in April – may, or by more than 400,000 barrels per day (bpd), year-on-year, thanks to a price discount, the Russian central bank said on Tuesday. Indian refiners have been snapping up relatively cheap Russian oil, shunned by Western companies and countries since …
India boosted Russian oil imports in April-May by more than 400,000 bpd Read More »
By Rajendra Jadhav and Mayank Bhardwaj MUMBAI/NEW DELHI (Reuters) – The monsoon, which accounts for about 75% of India’s annual rainfall, is the lifeblood of its nearly $3 trillion agriculture-dependent economy. Asia’s third-largest economy and the world’s top producer of a host of critical crops such as rice, wheat and sugar has received 11% more …
Explainer-India’s economic outlook at the mercy of monsoon Read More »
BENGALURU (Reuters) -Indian shares closed lower on Tuesday, with technology stocks bearing the brunt as investors turned wary of a likely sharp hike in U.S interest rate this week. The NSE Nifty 50 index lost 0.88% to 16,483.85, with a similar drop in S&P BSE Sensex to 55,268.49. “While global growth has clearly entered a …
Indian shares drop, tech stocks hammered as Fed awaited Read More »
By Swati Bhat MUMBAI (Reuters) – The Indian rupee weakened slightly against the dollar on Tuesday, while bond yields were little changed, as investors awaited the outcome of the U.S. Federal Reserve’s policy meeting late on Wednesday for near-term direction. The Fed has signalled a 75 basis point (bps) rate hike at its July 26-27 …
Indian rupee dips, bonds little changed; Fed meet in focus Read More »
By Chuck Mikolajczak NEW YORK (Reuters) – The dollar was lower against a basket of major currencies on Monday, as investors weighed the implications of a rate hike by the U.S. Federal Reserve in an economy that may be on the verge of a recession. The central bank is widely expected to raise interest rates …
Dollar falls for third straight session with Fed eyed Read More »
By Arundhati Sarkar (Reuters) – Gold prices gave up initial gains to slip on Monday as U.S. Treasury yields edged back up, while investors positioned themselves for an expected 75-basis-point interest rate hike by the Federal Reserve later this week. Spot gold was down 0.4% to $1,719.49 per ounce by 1:46 p.m. ET (1746 GMT). …
Gold dips on uptick in yields ahead of expected Fed rate hike Read More »
By Swati Bhat and Anushka Trivedi MUMBAI (Reuters) -The Indian rupee rose to its highest in more than a week on Monday afternoon tracking broad losses in the dollar, while bond yields edged down, mirroring the move in their U.S. counterpart ahead of the outcome of the U.S. Federal Reserve meeting. The U.S. Federal Reserve …
Indian rupee at over 1-wk high on broad $ losses; bond yields slip Read More »
BENGALURU (Reuters) -Indian shares broke their longest gaining streak since last October on Monday, as automakers slid and index heavyweight Reliance Industries dragged after its earnings fell short of expectations. The NSE Nifty 50 index fell 0.53% to 16,631, while the S&P BSE Sensex slipped a tad more to 55,766.22, after rising for six straight …
Indian shares snap six-day rally as Reliance, autos drop Read More »
By Savio Shetty and Divya Chowdhury MUMBAI (Reuters) – The Reserve Bank of India (RBI) is justified in using the country’s foreign exchange reserves to smooth out volatility in the rupee’s moves against the dollar, a member of the Economic Advisory Council said on Monday. “I think that the RBI is correct to use the …
India cenbank “correct” to use FX reserves to tackle rupee volatility: econ adviser Read More »
BENGALURU (Reuters) -Shares of Indian food delivery company Zomato fell more than 14% to a record low on Monday, as a one-year share lock-in period for promoters, employees and other investors expired following the 2021 listing. Zomato made a stellar debut on July 23, 2021 in the Mumbai market, but its shares have lost more …
India’s Zomato plunges to record low as share lock-in period ends Read More »
