Business

Bullion traders said the slide in gold prices was mostly due to absence of worthwhile activity as jewellers and retailers made token purchases to mark the auspicious occasion of 'Diwali' and beginning of Hindu Samvat year 2075.

While there appeared to be a partial truce last week when the government said it respected the autonomy of the Reserve Bank of India (RBI), sources said the government will turn up the heat at the bank's central board of directors meeting on November 19.

India had used a similar mechanism in the previous round of sanctions but settled only 45 percent of the payments in rupees.

The DEA, in a letter to the Ministry of Corporate Affairs, described the financial situation as "still fragile" when discussing the financial stability impact of the Infrastructure Leasing and Financial Service Ltd's (IL&FS) default, the website said

The rise was also supported by dollar-selling by exporters and banks and the US unit's weakness against some currencies overseas, traders said.

The lowest growth rate was in May 2018 when the core sectors expanded at 4.1 per cent.

The report also said that Bezos is still the world’s richest person, but he’s a lot closer to Bill Gates, world number two, than just a few months ago.

At the Interbank Foreign Exchange, the rupee opened up at 73.33 to quote 14 paise higher over its previous closing, on increased selling of the American currency by exporters and banks.

TCS, RIL and Infosys took a severe beating in market valuation while only two bluechips, HDFC and ICICI Bank, managed to record gains in market capitalisation (m-cap) for the week ended on Friday.

Billionaires' wealth enjoyed its "greatest-ever" increase in 2017, rising 19 per cent to USD8.9 trillion shared among 2,158 individuals, said the report by Swiss banking giant UBS and auditors PwC.

The 30-share Sensex after a gap up opening at 34,689.39 points advanced to a high of 34,748.69 points in early session on the back of better-than-expected earnings from HDFC Bank, positive cues from Asian markets and recovery in the rupee.

RIL is likely to announce acquisition of Hathway Cable and DEN Networks on October 17, said sources. Both DEN and Hathway’s stocks rallied on Tuesday after the communication.

The interest rate would apply on Provident Funds of central government employees, railways and defence forces.

Rising for the third straight session, the 30-share index gathered 218.81 points, or 0.63 per cent, to 35,083.91 with all the sectoral indices led by auto, realty, consumer durables, capital goods and bankex trading higher by up to 1.15 per cent.

IL&FS and its subsidiaries have defaulted on several debt obligations recently and is sitting on over Rs 91,000 crore of long and short-term debt.

Assam Chief Minister Sarbananda Sonowal on Saturday inaugurated a new production line at Sun Pharma's facility in Palashbari.