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Wednesday
June 2020
6:16 AM IST
News Headlines
Competitive sports resume in England after 75-day shutdown        Amit, Vikas nominated for Khel Ratna by BFI; 3 names for Arjuna        Indian manufacturing output falls further in May, rate of job cuts accelerates: PMI        Sensex, Nifty spurt over 2 pc as India begins to unlock economy        Violent protests engulf US, thousands arrested and nearly 40 cities under curfew        Hong Kong blocks Tiananmen vigil; rush on for UK passports        Depression in Arabian Sea to intensify into severe cyclonic storm; will impact Mumbai        Deferred due to coronavirus, elections to 18 RS seats to be held on June 19: EC        Cabinet decisions will bring positive changes in lives of farmers, labourers, workers: PM        COVID-19: India now seventh worst-hit country in world        Mercury plummets as rain lashes Haryana and Punjab        New biography on PM Modi released        Oman reports 1,014 new COVID-19 cases, 11,437 in total        SpaceX Nasa Mission: Astronauts on historic mission enter space station        Woman dies of COVID-19 in Kerala, toll rises to ten; 61 new cases reported        DINGKO Cancer-stricken boxing hero Dingko Singh tests positive for COVID-19        As Lockdown-4 ends, home ministry issues guidelines for ''Unlock-1'' from June 8        COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected        Locusts in TN local grasshopper species, pose no threat, says govt        Delhi-Moscow AI flight returns midway after pilot found COVID-19 positive        
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Business News
Rupee drops 28 paise against dollar as US-China trade tension escalates
 
Mumbai:The rupee Wednesday fell further by 28 paise to 69.71 against the US currency, extending its losses for the third straight day due to escalating US-China trade tensions and a massive selloff in domestic equity markets. Besides, sustained foreign fund outflow amid global trade fears also impacted the trading pattern in the currency market, forex dealers said. However, a weak dollar against major currencies overseas and lower crude prices restricted the rupee''s fall, they added.

The rupee opened sharply lower at 69.57 as the US-China trade related concerns weighed on investor community. The local currency moved in a range of 69.47 to 69.74 before closing at 69.71, down 28 paise from the previous close. The rupee has weakened by 49 paise or 0.71 per cent since Monday after the US''s threat to increase tariffs on USD 200 billion of Chinese imports triggered a global selloff in riskier assets. "Growing trade tension between the US and China lead concern for global growth and trade.

Chinese Yuan becomes the worst performer among Asian Currencies after US President Trump''s tweet on hiking tariff on Chinese goods from May 10," V K Sharma, Head PCG & Capital Markets Strategy, HDFC Securities said. The rupee came under intense pressure following continued weakness in domestic equity markets. The BSE Sensex ended 487.50 points, or 1.27 per cent, lower at 37,789.13. The index hit an intra-day low of 37,743.07 and a high of 38,248.57.

Similarly, the NSE Nifty sank 138.45 points, or 1,20 per cent, to settle at 11,359.45. During the day, the bourse hit a low of 11,346.95 and a high of 11,479.10. Foreign investors were net sellers in capital markets Wednesday pulling out assets worth Rs 701.50 crore on a net basis, provisional exchange data showed. Meanwhile, the Dollar Index which gauges the greenback''s strength against a basket of six currencies, fell 0.11 per cent to 97.52. Brent crude futures, the global oil benchmark, fell 0.53 per cent to USD 69.51 per barrel.

Meanwhile, Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 69.6009 and for rupee/euro at 78.0124. The reference rate for rupee/British pound was fixed at 90.9002 and for rupee/100 Japanese yen at 63.23.


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Sensex, Nifty spurt over 2 pc as India begins to unlock economy
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KERALA NEWS
Woman dies of COVID-19 in Kerala, toll rises to ten; 61 new cases reported
 Kozhikode/Thiruvananthapuram: A 53-year old woman, who returned from Riyadh recently succumbed to th  
COVID-19 tally in Kerala rises to 1,208, 7 Pilots and cabin crew, among 58 infected
Vijayan slams Railways for scheduling trains to Kerala without informing state
Kerala records 6th COVID-19 death
INTERNATIONAL NEWS
Violent protests engulf US, thousands arrested and nearly 40 cities under curfew
 Washington, Jun 1 (PTI) The US remained a tinderbox of anger and emotion as violent protests erupted
Hong Kong blocks Tiananmen vigil; rush on for UK passports
Oman reports 1,014 new COVID-19 cases, 11,437 in total
SpaceX Nasa Mission: Astronauts on historic mission enter space station
NATIONAL NEWS
Depression in Arabian Sea to intensify into severe cyclonic storm; will impact Mumbai
 New Delhi, Jun 1 (PTI) The depression in the Arabian Sea is likely to intensify into a severe cyclon
Deferred due to coronavirus, elections to 18 RS seats to be held on June 19: EC
Mercury plummets as rain lashes Haryana and Punjab
New biography on PM Modi released
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