Equity indices failed to hold on to morning gains on Tuesday, with the sensex falling 236 points amid a sell-off in IT stocks and weak trends from global markets. The sensex opened higher but could not carry forward the momentum and declined 236 points or 0.43 per cent to settle at 54,053. Stay with TOI for all latest updates.Read Less
Govt restricts sugar exports to 10 million tonnes
Govt allows duty-free import of 20 lakh tonnes per year of crude soyabean, sunflower oil
The government on Tuesday exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soyabean and sunflower oil, to ease domestic prices. The duty-free import of 20 lakh MT per year will be applicable for two FYs (2022-23, 2023-24) for crude soyabean oil and crude sunflower oil, the Finance Ministry said in a notification.
India cuts June domestic coal supply targets to utilities by 11.1%
India has slashed domestic miners' coal supply targets to power plants for June by 11.1%, according to a power ministry letter seen by Reuters. The power ministry asked power plants which have not yet begun blending imported coal with local supplies to ship in 15% of their requirements until October, according to the letter dated May 24.
Credit card spending online nearly Rs 30,000 crore higher than swipes in March: RBI data
Credit card spending online was nearly Rs 30,000 crore more than the spending done through swipes at points of sale in March, indicating an increased preference among people for e-commerce purchases.
Sebi issues Rs 3.12 crore demand notice to NSE's ex-boss Chitra Ramkrishna
Capital markets regulator Sebi on Tuesday sent a notice to NSE's former chief Chitra Ramkrishna asking her to pay Rs 3.12 crore in a case related to governance lapses at the stock exchange, and warned of arrest and attachment of assets and bank accounts if she fails to make the payment within 15 days.
India's crude oil production falls 1% in April
India's crude oil production fell 1 per cent in April after lower output from fields operated by the private sector wiped away gains by state-owned firms such as ONGC, official data showed Tuesday.
Do not offer unserviceable seats for sale to flyers: DGCA warns airlines
Airlines have been barred from selling unserviceable seats to passengers. The Directorate General of Civil Aviation (DGCA) on Tuesday warned of taking strict action against carriers if they are still found doing so.
Rupee slips 4 paise to close at 77.59 against the US dollar
The rupee slipped by 4 paise to close at 77.59 (provisional) against the US dollar on Tuesday, weighed down by a negative trend in domestic equities and unabated foreign fund outflows. At the interbank foreign exchange market, the rupee opened lower at 77.56 against the greenback, and finally settled at 77.59, down 4 paise over its previous close.
India may restrict sugar exports for first time in six years
India plans to restrict sugar exports for the first time in six years to prevent a surge in domestic prices, potentially capping this season's exports at 10 million tonnes, a government source told Reuters on Tuesday.
Markets reverse early gains in volatile trade; Sensex falls 236 points
Equity indices failed to hold on to morning gains on Tuesday, with the sensex falling 236 points amid a sell-off in IT stocks and weak trends from global markets.
Sensex losers and gainers
In the sensex pack, Tech Mahindra, Hindustan Unilever, HCL Technologies, Asian Paints, NTPC, Tata Steel, Infosys, Axis Bank and Bajaj Finserv were among the biggest laggards. In contrast, Dr Reddy's, HDFC, PowerGrid, Kotak Mahindra Bank, HDFC Bank and Nestle were among the major gainers.
Nifty gainers and losers
Dr Reddy’s Labs, Kotak Mahindra Bank, HDFC, Power Grid Corp and HDFC Bank were among the top Nifty gainers. Losers included Divis Labs, Tech Mahindra, Grasim Industries, Hindalco Industries and Hindustan Unilever.
Sensex slips 236 points to end at 54,053; Nifty settles at 16,125
LIC to declare financial results for FY22 on May 30; board to consider dividend payment
The board of directors of the state-owned Life Insurance Corporation of India (LIC) is scheduled to meet at the end of this month to declare the financial results for the fiscal year ended March 2022. The meeting will also consider payment of dividend, if any, LIC said.
World economy has 'buffer' against recession says IMF's Gopinath
While the world economy faces headwinds, current growth forecasts offer a buffer against a potential global recession, the International Monetary Fund's No. 2 official said Monday.
Biden, Modi discuss efforts to curb rise in food, energy prices
President Joe Biden and Indian Prime Minister Narendra Modi discussed efforts to combat the rise in energy and food prices caused by Russia’s invasion of Ukraine, according to the White House.
OYO plans IPO after September, may settle for lower valuation
OYO's move to launch the IPO after the September quarter is mainly driven by the expectation of improvement in its financial performance and the current volatile nature of the market.
Nifty gainers and losers at this hour
European stock markets slide at open
European stock markets slid at the start of trading Tuesday following losses in Asia on concerns over weak Chinese growth. London's benchmark FTSE 100 index dropped 1.0 percent to 7,442.20 points.
Tokyo stocks end down despite US gains
Tokyo stocks ended down on Tuesday as investors eyed the spread of Covid-19 in China, despite overnight rallies on Wall Street. The benchmark Nikkei 225 index ended down 0.94 percent, or 253.38 points, to 26,748.14 while the broader Topix index slipped 0.86 percent or 16.31 points to 1,878.26.