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Wednesday
June 2020
5:51 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 stems losses, rallies 54 paise to 71.24 vs USD on easing oil prices
 
Mumbai: Snapping its two-day falling streak, the rupee rebounded 54 paise to finish at 71.24 against the US dollar on Wednesday as sliding crude oil prices eased pressure off emerging market currencies. However, unabated foreign fund outflows capped the gains, forex traders said. Global equities and oil markets stabilised after Saudi Arabia''s energy minister said production capacity at its plant targeted by drone attacks over the weekend would be fully restored by the end of the month. At the Interbank Foreign Exchange, the rupee opened at 71.47 and surged to an intra-day high of 71.17 against the US dollar.

The local unit finally settled at 71.24, higher by 54 paise over its previous close of 71.78. "Indian rupee led gains in emerging market Asian currencies as crude prices eased after Saudi Arabia partially restored production at its damaged oil plant," HDFC Securities Head PCG and Capital Markets Strategy V K Sharma said. Sharma further said lower crude oil prices calmed concerns about inflation and the fiscal side which will provide room for the RBI to lower interest rate in the coming October meet. The Reserve Bank of India, which has already reduced the key policy rate four times in the current calendar year, is scheduled to announce its next bi-monthly monetary policy on October 4.

Market participants were also awaiting cues from the much-anticipated policy meeting of the US Federal Reserve, traders said. Meanwhile, crude oil benchmark, Brent Futures on Wednesday witnessed some moderation and was trading at USD 64.32 per barrel, down 0.36 per cent. Foreign institutional investors (FIIs) offloaded equities worth a net Rs 959.09 crore on Wednesday, provisional exchange data showed. On the domestic markets front, the 30-share BSE Sensex ended 82.79 points, or 0.23 per cent, higher at 36,563.88. Similarly, the broader NSE Nifty gained 23.05 points, or 0.21 per cent, to finish at 10,840.65.

The 10-year government bond yield was at 6.62 per cent. The dollar index, which gauges the greenback''s strength against a basket of six currencies, rose by 0.20 per cent to 98.46. The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 71.8196 and for rupee/euro at 78.9613. The reference rate for rupee/British pound was fixed at 89.1219 and for rupee/100 Japanese yen at 66.36.


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
Patanjali''s plea for Ayurvedic medicine trials raises eyebrows
Reducing migrant worker population will impact Singapore economy: Industry groups
Extend loan automatically to all eligible borrowers without fear of 3Cs: FM to banks
Will try to restart international flights before August: Puri
RBI extends moratorium on loans for another 3 months till Aug
Sensex, Nifty turn choppy; RIL jumps on KKR deal
Rupee rises 13 paise to 75.67 against US dollar in early trade
Bajaj Auto shares jump 6.50 pc after Q4 earnings
Rupee rises 6 paise to 75.60 against US dollar in early trade
Decide corruption cases in time involving retiring bank, govt officials: CVC
Consumers footfall increase, average basket value goes up at retail stores in lockdown 3.0
Decentralisation of cities, devt of far-flung areas can help address migrant workers' woes: Gadkari
Find out novel ways for revival of economy, not the failed ideas: BMS
Reliance Industries' Rs 53,000-crore rights issue to kick off on May 20
Rupee falls 13 paise to 75.59 against US dollar in early trade
Investor wealth plunges Rs 1.99 lakh cr as mkts plummet
Kotak Mahindra Bank Q4 profit down 4 pc to Rs 1,952 cr
Jet Airways insolvency resolution professional seeks fresh EoI for defunct airline
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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