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As tensions with Pakistan escalated, Indian oil companies have put in motion a "very strong plan" including moving a convoy of 500 trucks to ensure uninterrupted fuel supplies to all defence and strategic assets, top officials said Wednesday.

Tanks feeding defence establishment in forwarding areas along the border with Pakistan are all "topped up" and have enough fuel to meet any eventuality, they said.

Oil companies had topped up all storages in Jammu and Kashmir and other forward areas before the Tuesday's pounding of a terrorist camp inside Pakistan as retaliation to Jaish-e-Mohammed operative killing 40 paramilitary personnel in a suicide car bombing in Kashmir on February 14.

And now, as many as 500 oil tankers are being moved to the state and other forward locations to stock up jet fuel (ATF), diesel and other petroleum products for ensuring fuel supplies beyond the 10-day stock firms generally maintain, they said. 
Indian and Pakistani fighter jets shot down war planes of each other on Wednesday in the most serious military confrontation between the two nations in decades.

State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) supply jet fuel for the fighter jets of

Indian Air Force as well as diesel and other fuel for tanks, trucks and other automobiles used by defence and paramilitary forces.

"We have a very strong plan in place (to ensure uninterrupted supplies)," an official said.

The requirement of defence services as a percentage of over 190 million tonnes of fuel consumed in the country is "very small" but the task is ensuring its uninterrupted availability especially in forward posts in Jammu and Kashmir, another official said.

Oil companies, they said, carry out winter stocking in Jammu and Kashmir ahead of the onset of winter every year and they had moved enough quantities of fuel to the state to meet fuel requirement of the civilians as well as defence establishment.

A separate official said Indian oil companies had ensured fuel uninterrupted fuel supplies to defence forces even during the Kargil war in 1999. 
"One is reminded of a picture in the newspapers during the height of Kargil war of a burning Indian Oil tanker alongside Bofors gun. We ensured fuel reached forces at all times," he said.

Officials refused to discuss specifics of the plan of ensuring uninterrupted fuel supplies because of "strategic reasons." 
"Please leave that to us," one of them said.

Officials said the plan is in place not just for ensuring fuel supplies but also for protecting oil assets like tankages storing fuel and refineries.

Some oil refineries on the west coast are provided air cover by the Indian Air Force and other installations are also being provided security, they said.

Oil companies to advance winter stocking to meet requirements of the Leh and Ladakh region in Jammu and Kashmir and forward areas of Himachal Pradesh which are cut off from the rest of the country due to snowfall.

Total fuels supplied this year was about 102,850 tonne (121,000 kilolitres). Ambala, Jalandhar, Sangrur and Bhatinda were the supply points that moved fuel to storage depots about 900 km away.

As tensions with Pakistan escalated, Indian oil companies have put in motion a "very strong plan" including moving a convoy of 500 trucks to ensure uninterrupted fuel supplies to all defence and strategic assets, top officials said Wednesday.

As tensions with Pakistan escalated, Indian oil companies have put in motion a "very strong plan" including moving a convoy of 500 trucks to ensure uninterrupted fuel supplies to all defence and strategic assets, top officials said Wednesday. Tanks feeding defence establishment in forwarding areas along the border with Pakistan are all "topped up" and have enough fuel to meet any eventuality, they said. Oil companies had topped up all storages in Jammu and Kashmir and other forward areas before the Tuesday's pounding of a terrorist camp inside Pakistan as retaliation to Jaish-e-Mohammed operative killing 40 paramilitary personnel in a suicide car bombing in Kashmir on February 14. And now, as many as 500 oil tankers are being moved to the state and other forward locations to stock up jet fuel (ATF), diesel and other petroleum products for ensuring fuel supplies beyond the 10-day stock firms generally maintain, they said. Indian and Pakistani fighter jets shot down war planes of each other on Wednesday in the most serious military confrontation between the two nations in decades. State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) supply jet fuel for the fighter jets of Indian Air Force as well as diesel and other fuel for tanks, trucks and other automobiles used by defence and paramilitary forces. "We have a very strong plan in place (to ensure uninterrupted supplies)," an official said. The requirement of defence services as a percentage of over 190 million tonnes of fuel consumed in the country is "very small" but the task is ensuring its uninterrupted availability especially in forward posts in Jammu and Kashmir, another official said. Oil companies, they said, carry out winter stocking in Jammu and Kashmir ahead of the onset of winter every year and they had moved enough quantities of fuel to the state to meet fuel requirement of the civilians as well as defence establishment. A separate official said Indian oil companies had ensured fuel uninterrupted fuel supplies to defence forces even during the Kargil war in 1999. "One is reminded of a picture in the newspapers during the height of Kargil war of a burning Indian Oil tanker alongside Bofors gun. We ensured fuel reached forces at all times," he said. Officials refused to discuss specifics of the plan of ensuring uninterrupted fuel supplies because of "strategic reasons." "Please leave that to us," one of them said. Officials said the plan is in place not just for ensuring fuel supplies but also for protecting oil assets like tankages storing fuel and refineries. Some oil refineries on the west coast are provided air cover by the Indian Air Force and other installations are also being provided security, they said. Oil companies to advance winter stocking to meet requirements of the Leh and Ladakh region in Jammu and Kashmir and forward areas of Himachal Pradesh which are cut off from the rest of the country due to snowfall. Total fuels supplied this year was about 102,850 tonne (121,000 kilolitres). Ambala, Jalandhar, Sangrur and Bhatinda were the supply points that moved fuel to storage depots about 900 km away.

'Very strong plan' to ensure fuel supplies to defence in place; 500 trucks move to refill depots

Jet Airways' founder Naresh Goyal has agreed to step down as chairman of the airline's board, two sources with direct knowledge of the matter told Reuters on Thursday, as the cash-strapped Indian carrier inches closer to securing a rescue deal.

Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 percent stake, one source said. The source said Goyal would continue to be a part of the company in some capacity even after stepping down as chairman.

The rising dominance of low-cost carriers like IndiGo in a price sensitive market as well as high oil prices, hefty fuel taxes and a weak rupee have left Jet strapped for cash.

Saddled with a billion dollars in debt, Jet Airways is struggling to make payments to its pilots, vendors and lessors, some of whom have forced the airline to ground over a dozen planes.

Jet did not respond to an email seeking comment but said last week its board had approved a rescue deal which will make its lenders, lead by State Bank of India (SBI), its largest shareholders.

The deal, which is subject to regulatory approvals, includes an equity infusion, debt restructuring and the sale or sale and lease back of aircraft.

Eithad, which owns a 24 per cent stake in Jet Airways, is reticent to put more money into the airline including interim funds of about 7 billion rupees ($99 million), one of the sources said.

The Abu Dhabi carrier, however, is still in discussions to raise its stake in Jet but will not shoulder any management responsibility, said a third source aware of the matter.

"Management of the airline is a hot sticking point that needs to be sorted out," said the source, indicating that Etihad's patience appeared to be wearing thin.

An Etihad spokesman declined to comment.

Jet Airways' founder Naresh Goyal has agreed to step down as chairman of the airline's board, two sources with direct knowledge of the matter told Reuters on Thursday, as the cash-strapped Indian carrier inches closer to securing a rescue deal.

Jet Airways' founder Naresh Goyal has agreed to step down as chairman of the airline's board, two sources with direct knowledge of the matter told Reuters on Thursday, as the cash-strapped Indian carrier inches closer to securing a rescue deal. Goyal, who founded the full-service carrier 25 years ago, has also agreed to reduce his 51 percent stake, one source said. The source said Goyal would continue to be a part of the company in some capacity even after stepping down as chairman. The rising dominance of low-cost carriers like IndiGo in a price sensitive market as well as high oil prices, hefty fuel taxes and a weak rupee have left Jet strapped for cash. Saddled with a billion dollars in debt, Jet Airways is struggling to make payments to its pilots, vendors and lessors, some of whom have forced the airline to ground over a dozen planes. Jet did not respond to an email seeking comment but said last week its board had approved a rescue deal which will make its lenders, lead by State Bank of India (SBI), its largest shareholders. The deal, which is subject to regulatory approvals, includes an equity infusion, debt restructuring and the sale or sale and lease back of aircraft. Eithad, which owns a 24 per cent stake in Jet Airways, is reticent to put more money into the airline including interim funds of about 7 billion rupees ($99 million), one of the sources said. The Abu Dhabi carrier, however, is still in discussions to raise its stake in Jet but will not shoulder any management responsibility, said a third source aware of the matter. "Management of the airline is a hot sticking point that needs to be sorted out," said the source, indicating that Etihad's patience appeared to be wearing thin. An Etihad spokesman declined to comment.

Jet Airways founder Naresh Goyal agrees to step down as chairman: Sources

The benchmark BSE Sensex opened on a positive note Thursday amid buying by domestic as well as foreign institutional investors ahead of February derivatives expiry.

Investors, however, were cautious on concerns over the tension between India and Pakistan.

The 30-share index was trading higher by 81.45 points, or 0.23 per cent, to 35,986.88. The gauge had lost 308 points in the previous two sessions.

The NSE Nifty too was trading in the green, up 35.35 points, or 0.33 per cent, at 10,842.

Major gainers that supported key indices were Coal India, Bharti Airtel, ONGC, Sun Pharma, PowerGrid, Asian Paint, RIL, Infosys, ICICI Bank, IndusInd Bank, SBI, Tata

Motors, Yes Bank, HUL, HDFC Bank and Vedanta, rising up to 1.42 per cent.

According to Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management, while attacks on the India Pakistan border and war-like situation continue to make headlines, Indian markets have been resilient.

"Clearly, the market appears to be suggesting that things will subside as both sides do not appear to want an escalation.&nbsp;

"The flip side of the event is that investors seem to be recognizing a greater likelihood of a victory for the current regime in upcoming elections; with the follow-on implication that while the near term may be fraught with tensions and a fear of escalation, the medium term picture is possibly clarifying in terms of election outcome and that's a positive for the market," he said.&nbsp;

Investors are covering their pending short positions on the last trading session of February futures and options (F&amp;O) expiry in the derivatives segment, brokers said.

Market is also awaiting GDP numbers and fiscal deficit data scheduled for release later in the day.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 423.04 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 66.81 crore Wednesday, provisional data showed.

Elsewhere in Asia, Hong Kong's Hang Seng gained 0.06 per cent, while Japan's Nikkei was down 0.35 per cent in early trade Thursday. The Shanghai Composite Index fell 0.35 per cent.

The US Dow Jones Industrial Average ended 0.28 per cent lower Wednesday.&nbsp;

The rupee, meanwhile, rose 10 paise to 71.14 against the US dollar in opening.

The benchmark BSE Sensex opened on a positive note Thursday amid buying by domestic as well as foreign institutional investors ahead of February derivatives expiry.

The benchmark BSE Sensex opened on a positive note Thursday amid buying by domestic as well as foreign institutional investors ahead of February derivatives expiry. Investors, however, were cautious on concerns over the tension between India and Pakistan. The 30-share index was trading higher by 81.45 points, or 0.23 per cent, to 35,986.88. The gauge had lost 308 points in the previous two sessions. The NSE Nifty too was trading in the green, up 35.35 points, or 0.33 per cent, at 10,842. Major gainers that supported key indices were Coal India, Bharti Airtel, ONGC, Sun Pharma, PowerGrid, Asian Paint, RIL, Infosys, ICICI Bank, IndusInd Bank, SBI, Tata Motors, Yes Bank, HUL, HDFC Bank and Vedanta, rising up to 1.42 per cent. According to Sunil Sharma, Chief Investment Officer, Sanctum Wealth Management, while attacks on the India Pakistan border and war-like situation continue to make headlines, Indian markets have been resilient. "Clearly, the market appears to be suggesting that things will subside as both sides do not appear to want an escalation. "The flip side of the event is that investors seem to be recognizing a greater likelihood of a victory for the current regime in upcoming elections; with the follow-on implication that while the near term may be fraught with tensions and a fear of escalation, the medium term picture is possibly clarifying in terms of election outcome and that's a positive for the market," he said. Investors are covering their pending short positions on the last trading session of February futures and options (F&O) expiry in the derivatives segment, brokers said. Market is also awaiting GDP numbers and fiscal deficit data scheduled for release later in the day. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 423.04 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 66.81 crore Wednesday, provisional data showed. Elsewhere in Asia, Hong Kong's Hang Seng gained 0.06 per cent, while Japan's Nikkei was down 0.35 per cent in early trade Thursday. The Shanghai Composite Index fell 0.35 per cent. The US Dow Jones Industrial Average ended 0.28 per cent lower Wednesday. The rupee, meanwhile, rose 10 paise to 71.14 against the US dollar in opening.

Sensex, Nifty open positive ahead of February derivatives expiry

Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad.

The gloomy findings are likely to reinforce views that the world's second-largest economy is still losing steam, after growth last year cooled to a nearly 30-year low.

Even with increasing government stimulus to spur activity, concerns are growing that China may be at risk of a sharper slowdown if current <a href="http://www.wionews.com/world/trump-raises-hopes-of-trade-deal-on-final-day-of-us-china-talks-199416">Sino-US trade talks </a>fail to relieve some of the pressure.

The official Purchasing Managers' Index (PMI) fell for the third straight month, dropping to 49.2 in February from 49.5 in January, according to data released by the National Bureau of Statistics (NBS) on Thursday. The 50-mark separates growth from contraction on a monthly basis.

Analysts surveyed by Reuters had forecast the gauge would stay unchanged from January's 49.5.

"Unless the trade war truly turns into an extended truce, the weakening trend may not end quickly," Iris Pang, Greater China economist at ING, said in a note. "As such we expect March's PMI to fall, too."

Manufacturing output contracted in February for the first time since January 2009, during the depths of the global crisis. A breakdown of the survey's findings showed the output sub-index fell to 49.5 from 50.9 the previous month.

Manufacturers also continued to cut jobs, a trend Beijing is closely watching as its weighs more support measures.

New export orders shrank for a ninth straight month, and at a sharper rate, amid faltering global demand. The sub-index fell to 45.2, the lowest since February 2009, from 46.9 in January.

But total new orders -- an indicator of future activity -- edged back into expansionary territory, suggesting some improvement in domestic demand. The sub-index rose to 50.6 from 49.6 in January, after falling for two consecutive months.

However, China watchers typically advise caution over interpreting the country's economic data early in the year because of the timing of the week-long Lunar New Year holidays.

Many firms scale back operations or close for long periods around the holidays, which began on February 4 this year. But workers, business owners and labour activists have told Reuters that companies have shut earlier than usual as the trade war bites, with some likely to close for good.

Ford Motor Co's joint venture in China has quietly begun dismissing thousands of its workers due to weak auto sales in the world’s second-largest economy, the New York Times reported on Wednesday.

Record lending by Chinese banks in January and a sharp rebound in its stock markets have lifted some of the gloom hanging over its economy.

But analysts say it will take months to see if the strong credit impulse translates into improved business activity, assuming companies are borrowing for fresh expansion or investment, not merely refinancing existing debt.

Some economists believe growth could even dip below 6 per cent in the first half -- from 6.4 per cent in the fourth quarter -- before stabilising later in the year as a series of support measures in 2018 and 2019 begin to take effect.

Uncertainty also hangs over ongoing China-US trade talks.

President Donald Trump said on Monday that he may soon sign a deal with Chinese President Xi Jinping to end the countries' trade war, if the two sides can bridge remaining differences

But the lead US negotiator said on Wednesday it was too early to predict the outcome.

US issues with China are "too serious" to be resolved with promises from Beijing to purchase more US goods and any deal between the two countries must include a way to ensure commitments are met, US Trade Representative Robert Lighthizer said.

Growth in China's services industry also cooled in February after rebounding for two straight months, another sign of strain as consumers turn more cautious about spending.

Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad.

Factory activity in China contracted to a three-year low in February as export orders fell at the fastest pace since the global financial crisis, highlighting deepening cracks in an economy facing weak demand at home and abroad. The gloomy findings are likely to reinforce views that the world's second-largest economy is still losing steam, after growth last year cooled to a nearly 30-year low. Even with increasing government stimulus to spur activity, concerns are growing that China may be at risk of a sharper slowdown if current Sino-US trade talks fail to relieve some of the pressure. The official Purchasing Managers' Index (PMI) fell for the third straight month, dropping to 49.2 in February from 49.5 in January, according to data released by the National Bureau of Statistics (NBS) on Thursday. The 50-mark separates growth from contraction on a monthly basis. Analysts surveyed by Reuters had forecast the gauge would stay unchanged from January's 49.5. "Unless the trade war truly turns into an extended truce, the weakening trend may not end quickly," Iris Pang, Greater China economist at ING, said in a note. "As such we expect March's PMI to fall, too." Manufacturing output contracted in February for the first time since January 2009, during the depths of the global crisis. A breakdown of the survey's findings showed the output sub-index fell to 49.5 from 50.9 the previous month. Manufacturers also continued to cut jobs, a trend Beijing is closely watching as its weighs more support measures. New export orders shrank for a ninth straight month, and at a sharper rate, amid faltering global demand. The sub-index fell to 45.2, the lowest since February 2009, from 46.9 in January. But total new orders -- an indicator of future activity -- edged back into expansionary territory, suggesting some improvement in domestic demand. The sub-index rose to 50.6 from 49.6 in January, after falling for two consecutive months. However, China watchers typically advise caution over interpreting the country's economic data early in the year because of the timing of the week-long Lunar New Year holidays. Many firms scale back operations or close for long periods around the holidays, which began on February 4 this year. But workers, business owners and labour activists have told Reuters that companies have shut earlier than usual as the trade war bites, with some likely to close for good. Ford Motor Co's joint venture in China has quietly begun dismissing thousands of its workers due to weak auto sales in the world’s second-largest economy, the New York Times reported on Wednesday. Record lending by Chinese banks in January and a sharp rebound in its stock markets have lifted some of the gloom hanging over its economy. But analysts say it will take months to see if the strong credit impulse translates into improved business activity, assuming companies are borrowing for fresh expansion or investment, not merely refinancing existing debt. Some economists believe growth could even dip below 6 per cent in the first half -- from 6.4 per cent in the fourth quarter -- before stabilising later in the year as a series of support measures in 2018 and 2019 begin to take effect. Uncertainty also hangs over ongoing China-US trade talks. President Donald Trump said on Monday that he may soon sign a deal with Chinese President Xi Jinping to end the countries' trade war, if the two sides can bridge remaining differences But the lead US negotiator said on Wednesday it was too early to predict the outcome. US issues with China are "too serious" to be resolved with promises from Beijing to purchase more US goods and any deal between the two countries must include a way to ensure commitments are met, US Trade Representative Robert Lighthizer said. Growth in China's services industry also cooled in February after rebounding for two straight months, another sign of strain as consumers turn more cautious about spending.

China February factory activity shrinks to three-year low, export orders worst in a decade

The government has detected Rs 20,000 crore worth GST evasion so far this fiscal and will take more steps to check frauds and increase compliance, a senior tax official said Wednesday.

Central Board of Indirect Taxes and Customs Member (Investigation) John Joseph further said the department would soon call a meeting of the representatives of the real estate sector to understand transition issues faced by the sector post reduction in GST rates.

The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, earlier this week decided to cut tax rates on under-construction apartments and affordable housing to five per cent and one per cent, respectively.&nbsp;

However, builders will not be able to claim credit for the taxes paid on inputs, like steel, cement.

The earlier GST rate on under-construction apartments and affordable housing was 12 per cent and eight per cent with input tax credit (ITC), respectively.

On demand for giving ITC relief to the builders of the under-construction flats which are already built but not yet sold to buyers, Joseph said the real estate sector will have to raise the issue with the urban development ministry.

"You need to talk to them (urban development ministry). As revenue department we cannot give you any benefit of subsidy to that extent," he said at an Assocham event here.

Joseph said between April-February 2018-19, GST evasion worth Rs 20,000 crore has been detected of which Rs 10,000 crore was recovered.

He said the tax officers on Tuesday detected fake invoice worth Rs 1,500 crore which was used to claim illegal GST credit of Rs 75 crore.&nbsp;

"We have already recovered Rs 25 crore and the rest is on the way," Joseph said.&nbsp;

Stating that only 5-10 per cent of the businesses are "black sheep" and bring bad name to the industry, he said the government will take more measures to increase compliance, and act against evaders in a way such that genuine businesses do not suffer.

Joseph said the government has been dynamic in rationalising tax rates since GST rollout on July 1, 2017, while increasing compliance for 1.2 crore registered businesses.

The government has detected Rs 20,000 crore worth GST evasion so far this fiscal and will take more steps to check frauds and increase compliance, a senior tax official said Wednesday.

The government has detected Rs 20,000 crore worth GST evasion so far this fiscal and will take more steps to check frauds and increase compliance, a senior tax official said Wednesday. Central Board of Indirect Taxes and Customs Member (Investigation) John Joseph further said the department would soon call a meeting of the representatives of the real estate sector to understand transition issues faced by the sector post reduction in GST rates. The GST Council, chaired by Finance Minister Arun Jaitley and comprising state counterparts, earlier this week decided to cut tax rates on under-construction apartments and affordable housing to five per cent and one per cent, respectively. However, builders will not be able to claim credit for the taxes paid on inputs, like steel, cement. The earlier GST rate on under-construction apartments and affordable housing was 12 per cent and eight per cent with input tax credit (ITC), respectively. On demand for giving ITC relief to the builders of the under-construction flats which are already built but not yet sold to buyers, Joseph said the real estate sector will have to raise the issue with the urban development ministry. "You need to talk to them (urban development ministry). As revenue department we cannot give you any benefit of subsidy to that extent," he said at an Assocham event here. Joseph said between April-February 2018-19, GST evasion worth Rs 20,000 crore has been detected of which Rs 10,000 crore was recovered. He said the tax officers on Tuesday detected fake invoice worth Rs 1,500 crore which was used to claim illegal GST credit of Rs 75 crore. "We have already recovered Rs 25 crore and the rest is on the way," Joseph said. Stating that only 5-10 per cent of the businesses are "black sheep" and bring bad name to the industry, he said the government will take more measures to increase compliance, and act against evaders in a way such that genuine businesses do not suffer. Joseph said the government has been dynamic in rationalising tax rates since GST rollout on July 1, 2017, while increasing compliance for 1.2 crore registered businesses.

Govt detects Rs 20,000 crore GST evasion, Rs 10,000 crore recovered

Johnson &amp; Johnson has resumed production of its baby powder at plants in India after government tests found no asbestos in the product, the company said on Thursday.

"Johnson &amp; Johnson has resumed production of its Johnson`s Baby Powder at plants in Baddi and Mulund, after government sanctioned testing reaffirmed that the product does not contain asbestos," J&amp;J said in a statement to Reuters.

Reuters reported earlier on Thursday that the regulator had not found any asbestos in the company`s talc, citing sources familiar with the matter.

The regulator and its counterparts in Indian states launched an investigation into J&amp;J`s Baby Powder following a Reuters report in December that the firm knew for decades that cancer-causing asbestos could be found in the product.&nbsp;

J&amp;J has described the Reuters article as "one-sided, false and inflammatory".

The Indian regulator wrote to the US company in December asking it to stop using the "huge quantities" of raw materials stocked in its plants in northern and western India until test results proved they were free of asbestos.

"In recent months, regulatory authorities from Singapore, Thailand, Saudi Arabia, Jordan, Kuwait, and Egypt have also reaffirmed the purity of Johnson &amp; Johnson`s talc," J&amp;J said.

Johnson & Johnson has resumed production of its baby powder at plants in India after government tests found no asbestos in the product, the company said on Thursday.

Johnson & Johnson has resumed production of its baby powder at plants in India after government tests found no asbestos in the product, the company said on Thursday. "Johnson & Johnson has resumed production of its Johnson`s Baby Powder at plants in Baddi and Mulund, after government sanctioned testing reaffirmed that the product does not contain asbestos," J&J said in a statement to Reuters. Reuters reported earlier on Thursday that the regulator had not found any asbestos in the company`s talc, citing sources familiar with the matter. The regulator and its counterparts in Indian states launched an investigation into J&J`s Baby Powder following a Reuters report in December that the firm knew for decades that cancer-causing asbestos could be found in the product. J&J has described the Reuters article as "one-sided, false and inflammatory". The Indian regulator wrote to the US company in December asking it to stop using the "huge quantities" of raw materials stocked in its plants in northern and western India until test results proved they were free of asbestos. "In recent months, regulatory authorities from Singapore, Thailand, Saudi Arabia, Jordan, Kuwait, and Egypt have also reaffirmed the purity of Johnson & Johnson`s talc," J&J said.

Johnson & Johnson resumes production of baby talc in India after tests find no asbestos

Extending its fall for the third session, the BSE benchmark Sensex Thursday ended marginally lower after investors squared-off positions as February derivative contracts expired amid concerns over tension between India and Pakistan.

Weak cues from other Asian markets and a lower opening of European equities too weighed on market mood, experts said.

The 30-share index took off on a strong footing, advancing to a high of 36,085.85 in early session largely on the back of sustained foreign fund inflows and covering-up of short positions by speculators.

However, selling activity re-emerged in line with weak domestic and global cues, pushing the index to a low of 35,829.15. It finally settled 37.99 points, or 0.11 per cent lower at 35,867.44.

The gauge had lost 308 points in the previous two sessions.

The 50-share Nifty also fell 15.70 points, or 0.13 per cent, to 10,792.50 after moving between 10,865.70 and 10,784.85 on alternate bouts of buying and selling.

"Market continued the rangebound movement due to futures and options (F&amp;O) expiry while mid and small-cap indices outperformed as investors believe that border tensions won't continue for long," said Vinod Nair, Head of Research, Geojit Financial Services.

"Additionally, the focus is likely to shift to economic data and possibility of the pre-election rally while FII inflow is picking up and rupee is gaining strength," he added.

Among Sensex components, TCS emerged the biggest loser by falling 3.38 per cent, while Maruti Suzuki lost 1.77 per cent.

Other laggards include Hero MotoCorp falling 1.49 per cent, M&amp;M 1.42 per cent, Axis Bank 1.18 per cent, Tata Steel 0.90 percent, HCL Tech 0.67 per cent, Bharti Airtel 0.63 per cent, Bajaj Auto 0.54 per cent, HDFC Bank 0.45 per cent, Kotak Bank 0.28 per cent, HUL 0.25 per cent, IndusInd Bank 0.23 percent and Infosys 0.10 per cent.

However, ONGC topped the gainers' list, climbing 4.17 per cent, followed by Coal India up 3.16 per cent.

Also, Vedanta, NTPC, Yes Bank, SBI, L&amp;T, ICICI Bank, Sun Pharma, RIL, PowerGrid, ITC, Tata Motors, Bajaj Finance, HDFC and Asian Paints gained up to 2.88 per cent.

Sector-wise, the BSE IT index suffered the most by falling 1.02 per cent, followed by teck down 0.93 per cent and auto 0.67 per cent.

However, consumer durables, oil and gas, capital goods, PSU, realty, power, FMCG and bankex indices ended higher by up to 1.29 per cent.

The broader markets were in better shape with the small-cap index rising 0.86 per cent and mid-cap index gaining 0.49 per cent.

Investors adopted a cautious approach and were seen squaring-off their positions instead of carrying forward to the March series in the wake of tension between India and Pakistan, brokers said.

Market participants were also cautious ahead of the release of GDP numbers and fiscal deficit data scheduled for later in the day.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 423.04 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 66.81 crore Wednesday, provisional data showed.

Elsewhere in Asia, Korea's Kospi fell 1.76 per cent, Japan's Nikkei was down 0.79 per cent, Straits Times shed 0.97 per cent and the Shanghai Composite Index dropped 0.44 per cent.

A similar trend also emerged in European shares with Frankfurt's DAX falling 0.31 per cent and Paris CAC 40 shed 0.13 per cent. London's FTSE too declined 0.82 per cent.

Extending its fall for the third session, the BSE benchmark Sensex Thursday ended marginally lower after investors squared-off positions as February derivative contracts expired amid concerns over tension between India and Pakistan.

Extending its fall for the third session, the BSE benchmark Sensex Thursday ended marginally lower after investors squared-off positions as February derivative contracts expired amid concerns over tension between India and Pakistan. Weak cues from other Asian markets and a lower opening of European equities too weighed on market mood, experts said. The 30-share index took off on a strong footing, advancing to a high of 36,085.85 in early session largely on the back of sustained foreign fund inflows and covering-up of short positions by speculators. However, selling activity re-emerged in line with weak domestic and global cues, pushing the index to a low of 35,829.15. It finally settled 37.99 points, or 0.11 per cent lower at 35,867.44. The gauge had lost 308 points in the previous two sessions. The 50-share Nifty also fell 15.70 points, or 0.13 per cent, to 10,792.50 after moving between 10,865.70 and 10,784.85 on alternate bouts of buying and selling. "Market continued the rangebound movement due to futures and options (F&O) expiry while mid and small-cap indices outperformed as investors believe that border tensions won't continue for long," said Vinod Nair, Head of Research, Geojit Financial Services. "Additionally, the focus is likely to shift to economic data and possibility of the pre-election rally while FII inflow is picking up and rupee is gaining strength," he added. Among Sensex components, TCS emerged the biggest loser by falling 3.38 per cent, while Maruti Suzuki lost 1.77 per cent. Other laggards include Hero MotoCorp falling 1.49 per cent, M&M 1.42 per cent, Axis Bank 1.18 per cent, Tata Steel 0.90 percent, HCL Tech 0.67 per cent, Bharti Airtel 0.63 per cent, Bajaj Auto 0.54 per cent, HDFC Bank 0.45 per cent, Kotak Bank 0.28 per cent, HUL 0.25 per cent, IndusInd Bank 0.23 percent and Infosys 0.10 per cent. However, ONGC topped the gainers' list, climbing 4.17 per cent, followed by Coal India up 3.16 per cent. Also, Vedanta, NTPC, Yes Bank, SBI, L&T, ICICI Bank, Sun Pharma, RIL, PowerGrid, ITC, Tata Motors, Bajaj Finance, HDFC and Asian Paints gained up to 2.88 per cent. Sector-wise, the BSE IT index suffered the most by falling 1.02 per cent, followed by teck down 0.93 per cent and auto 0.67 per cent. However, consumer durables, oil and gas, capital goods, PSU, realty, power, FMCG and bankex indices ended higher by up to 1.29 per cent. The broader markets were in better shape with the small-cap index rising 0.86 per cent and mid-cap index gaining 0.49 per cent. Investors adopted a cautious approach and were seen squaring-off their positions instead of carrying forward to the March series in the wake of tension between India and Pakistan, brokers said. Market participants were also cautious ahead of the release of GDP numbers and fiscal deficit data scheduled for later in the day. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net of Rs 423.04 crore, while domestic institutional investors (DIIs) made purchases to the tune of Rs 66.81 crore Wednesday, provisional data showed. Elsewhere in Asia, Korea's Kospi fell 1.76 per cent, Japan's Nikkei was down 0.79 per cent, Straits Times shed 0.97 per cent and the Shanghai Composite Index dropped 0.44 per cent. A similar trend also emerged in European shares with Frankfurt's DAX falling 0.31 per cent and Paris CAC 40 shed 0.13 per cent. London's FTSE too declined 0.82 per cent.

Sensex, Nifty end marginally lower on F&O expiry, India-Pakistan tension

Oil prices rose on Wednesday after a report of declining US&nbsp;crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from US&nbsp;President Donald Trump.

US&nbsp;West Texas Intermediate (WTI) crude oil futures were at $55.99 per barrel at 0600 GMT, up 49 cents, or 0.9 per cent, from their last settlement.

International Brent crude futures were at $65.65 per barrel, up 44 cents, or 0.7 per cent from their last close.

US&nbsp;crude oil inventories fell by 4.2 million barrels in the week to February 22, to 444.3 million barrels, the American Petroleum Institute (API) estimated in a weekly report on Tuesday.

Official data will be released by the US&nbsp;Energy Information Administration (EIA) after 1800 GMT on Wednesday.

Oil markets have generally received support this year from supply curbs by the Organization of the Petroleum Exporting Countries (OPEC), which together with some non-affiliated producers like Russia, known as OPEC+, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prop up prices.

And the group has indicated it will continue to withhold supply despite pressure from Trump this week to stop artificially tightening markets.

"Crude oil futures bounced as OPEC members remained firm on planned production cuts despite heightened political pressure from US&nbsp;President Trump early this week," said Benjamin Lu of Singapore-based brokerage Phillip Futures.

Trump tweeted on Monday that oil prices were getting too high for the global economy, asking OPEC to relax its supply cuts.

Despite the OPEC-led curbs, oil remains in ample supply as US&nbsp;crude production has risen by more than 2 million bpd over the past year, to a record 12 million bpd, and because demand growth is low due to a global economic slowdown and improving energy efficiency across industries.

"The OPEC+ production cuts have ... so far failed to create the tightness needed to support a continued rally," said Ole Hansen, head of the commodity strategy at Denmark's Saxo Bank.

Oil prices rose on Wednesday after a report of declining US crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from US President Donald Trump.

Oil prices rose on Wednesday after a report of declining US crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from US President Donald Trump. US West Texas Intermediate (WTI) crude oil futures were at $55.99 per barrel at 0600 GMT, up 49 cents, or 0.9 per cent, from their last settlement. International Brent crude futures were at $65.65 per barrel, up 44 cents, or 0.7 per cent from their last close. US crude oil inventories fell by 4.2 million barrels in the week to February 22, to 444.3 million barrels, the American Petroleum Institute (API) estimated in a weekly report on Tuesday. Official data will be released by the US Energy Information Administration (EIA) after 1800 GMT on Wednesday. Oil markets have generally received support this year from supply curbs by the Organization of the Petroleum Exporting Countries (OPEC), which together with some non-affiliated producers like Russia, known as OPEC+, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prop up prices. And the group has indicated it will continue to withhold supply despite pressure from Trump this week to stop artificially tightening markets. "Crude oil futures bounced as OPEC members remained firm on planned production cuts despite heightened political pressure from US President Trump early this week," said Benjamin Lu of Singapore-based brokerage Phillip Futures. Trump tweeted on Monday that oil prices were getting too high for the global economy, asking OPEC to relax its supply cuts. Despite the OPEC-led curbs, oil remains in ample supply as US crude production has risen by more than 2 million bpd over the past year, to a record 12 million bpd, and because demand growth is low due to a global economic slowdown and improving energy efficiency across industries. "The OPEC+ production cuts have ... so far failed to create the tightness needed to support a continued rally," said Ole Hansen, head of the commodity strategy at Denmark's Saxo Bank.

Oil prices rise as OPEC resists Trump pressure to ease supply cuts

The rupee strengthened by 6 paise to 71.01 against the US dollar in early trade Wednesday at the interbank forex market on some selling of the greenback by exporters and banks amid sustained foreign fund inflows.

A positive opening for the stock markets also boosted the domestic currency, dealers said.

On Tuesday, the rupee snapped its gains of previous two sessions and closed 10 paise lower at 71.07 to the US dollar amid fears of escalation in geopolitical tensions following Indian fighter jets' air strike on a Pakistan-based terror camp.

Foreign institutional investors (FIIs) bought shares worth Rs 1,674.17 crore Tuesday, as per provisional data.

In global trade, the US dollar fell to a three-week low after Federal Reserve chairman reinforced the US central bank's recent shift toward a more "patient" approach on policy in the face of slowing economy.

Meanwhile, the benchmark <a href="http://www.wionews.com/business-economy/sensex-rebounds-256-points-nifty-above-10900-mark-199967">BSE Sensex</a> rose 218.81 points, or 0.61 per cent, to 36,192.52 points in early trade.&nbsp;

The rupee strengthened by 6 paise to 71.01 against the US dollar in early trade Wednesday at the interbank forex market on some selling of the greenback by exporters and banks amid sustained foreign fund inflows.

The rupee strengthened by 6 paise to 71.01 against the US dollar in early trade Wednesday at the interbank forex market on some selling of the greenback by exporters and banks amid sustained foreign fund inflows. A positive opening for the stock markets also boosted the domestic currency, dealers said. On Tuesday, the rupee snapped its gains of previous two sessions and closed 10 paise lower at 71.07 to the US dollar amid fears of escalation in geopolitical tensions following Indian fighter jets' air strike on a Pakistan-based terror camp. Foreign institutional investors (FIIs) bought shares worth Rs 1,674.17 crore Tuesday, as per provisional data. In global trade, the US dollar fell to a three-week low after Federal Reserve chairman reinforced the US central bank's recent shift toward a more "patient" approach on policy in the face of slowing economy. Meanwhile, the benchmark BSE Sensex rose 218.81 points, or 0.61 per cent, to 36,192.52 points in early trade.

Rupee recovers 6 paise against US dollar in early trade

Stocks staged a strong comeback in early trade Wednesday, with the BSE Sensex rebounding over 256 points and the Nifty recapturing the 10,900-mark on unabated foreign capital inflows amid short covering.

Asian markets were also trading in the green ahead of the second summit between US President Donald Trump and North Korean leader Kim Jong Un&nbsp; 
in Vietnam.

The 30-share Sensex rose by 256.18 points, or 0.73 per cent, to 36,226.89 in early trade. The gauge had lost 239.67 points Tuesday after India carried out air strikes on a terrorist camp in Pakistan.

All the sectoral indices, led by auto, metal, bankex, FMCG and healthcare, were trading in the green with gains of up to 1.32 per cent.

The broad-based NSE Nifty went up by 70.80 points or 0.66 per cent to 10,906.10.

Prominent gainers that supported the recovery were Yes Bank, Sun Pharma, Bajaj Auto, M&amp;M, Asian Paints, Hero moto corp, Bajaj Finance, Tata Steel, Tata Motors, Maruti Suzuki, Axis Bank, ICICI Bank, SBI, RIL, ONGC, IndusInd Bank, L&amp;T, Coal India and Vedanta Ltd, rising up to 2.83 per cent.

Brokers said continued pumping of investments by foreign funds and fresh spell of buying by domestic investors amid a firm trend at other Asian bourses led the markets higher.

Besides, covering-up of short positions by speculators ahead of February month expiry in the derivatives segment on Thursday, too supported the upside in select stocks, they added.

Foreign institutional investors (FIIs) bought shares worth a net Rs 1,674.17 crore, while domestic institutional investors sold equities to the tune of Rs 720.27 crore Tuesday, provisional data showed.

In the Asian region, Hong Kong's Hang Seng was up 0.44 per cent, Japan's Nikkei rose 0.53 per cent and Shanghai Composite Index was up by 0.79 per cent in early trade. Korea's KOSPI too gained 0.24 per cent.&nbsp;

The US Dow Jones Industrial Average ended 0.13 per cent higher in Tuesday's trade.&nbsp;

Stocks staged a strong comeback in early trade Wednesday, with the BSE Sensex rebounding over 256 points and the Nifty recapturing the 10,900-mark on unabated foreign capital inflows amid short covering.

Stocks staged a strong comeback in early trade Wednesday, with the BSE Sensex rebounding over 256 points and the Nifty recapturing the 10,900-mark on unabated foreign capital inflows amid short covering. Asian markets were also trading in the green ahead of the second summit between US President Donald Trump and North Korean leader Kim Jong Un in Vietnam. The 30-share Sensex rose by 256.18 points, or 0.73 per cent, to 36,226.89 in early trade. The gauge had lost 239.67 points Tuesday after India carried out air strikes on a terrorist camp in Pakistan. All the sectoral indices, led by auto, metal, bankex, FMCG and healthcare, were trading in the green with gains of up to 1.32 per cent. The broad-based NSE Nifty went up by 70.80 points or 0.66 per cent to 10,906.10. Prominent gainers that supported the recovery were Yes Bank, Sun Pharma, Bajaj Auto, M&M, Asian Paints, Hero moto corp, Bajaj Finance, Tata Steel, Tata Motors, Maruti Suzuki, Axis Bank, ICICI Bank, SBI, RIL, ONGC, IndusInd Bank, L&T, Coal India and Vedanta Ltd, rising up to 2.83 per cent. Brokers said continued pumping of investments by foreign funds and fresh spell of buying by domestic investors amid a firm trend at other Asian bourses led the markets higher. Besides, covering-up of short positions by speculators ahead of February month expiry in the derivatives segment on Thursday, too supported the upside in select stocks, they added. Foreign institutional investors (FIIs) bought shares worth a net Rs 1,674.17 crore, while domestic institutional investors sold equities to the tune of Rs 720.27 crore Tuesday, provisional data showed. In the Asian region, Hong Kong's Hang Seng was up 0.44 per cent, Japan's Nikkei rose 0.53 per cent and Shanghai Composite Index was up by 0.79 per cent in early trade. Korea's KOSPI too gained 0.24 per cent. The US Dow Jones Industrial Average ended 0.13 per cent higher in Tuesday's trade.

Sensex rebounds 256 points, Nifty above 10,900-mark

Asian markets were mostly up Wednesday with investors remaining positive about the prospects for a China-US trade deal while the pound held its gains as fears of a no-deal Brexit recede.

Wall Street provided a tepid lead as Federal Reserve boss Jerome Powell gave little away to lawmakers on the central bank's plans for monetary policy.

With few catalysts to drive business, dealers are awaiting the latest developments in trade negotiations between the world's top two economies, which have helped fuel a rally across global markets this year.

And while there was a stumble Tuesday, the gains continued in Asia in early trade with Shanghai rising 0.6 per cent, Hong Kong up 0.4 per cent, Tokyo ending the morning 0.5 per cent higher and Seoul climbing 0.3 per cent.

Sydney added 0.4 per cent though Taipei and Wellington edged lower.

However, while equities are enjoying a broad-based advance, there are warnings against overconfidence.

"Investors will continue to trade from a positive standpoint, but anything that comes out that could possibly derail a China-US trade deal will probably lead to some strong profit-taking flows and a decent downside correction and increase in volatility," said Nick Twidale, chief operating officer at Rakuten Securities Australia.

'Perilous game'&nbsp; 
Hopes that Britain will not leave the European Union without a divorce pact in place has also provided some support to markets and the pound in particular.

Sterling held its own in Asia a day after surging more than one per cent on Prime Minister Theresa May's decision to let MPs vote on a three-month delay to the March 29 Brexit deadline if she is unable to ram through her own deal.

But Jeffrey Halley, senior market analyst at OANDA, pointed out that risks remained.&nbsp;

Investors are "clearly second-guessing both the UK Parliament and the European Union, moving to a Brexit delay followed by a Brexit deal scenario", he said.

"This seems like a perilous game to play, but the momentum of this hope-versus-reality trade could push the pound to much higher levels yet. Be warned, though, that a disappointment in this glossy scenario could see just as ugly a move back down."

Traders will be keeping an eye on the second day of congressional testimony by Fed chief Powell after saying Tuesday that he saw inflation falling short of the bank's two per cent target despite rising employment and economic growth.

The comments follow recent Fed announcements that it will be "patient" before lifting or cutting interest rates and did not provide much news to investors.

Asian markets were mostly up Wednesday with investors remaining positive about the prospects for a China-US trade deal while the pound held its gains as fears of a no-deal Brexit recede.

Asian markets were mostly up Wednesday with investors remaining positive about the prospects for a China-US trade deal while the pound held its gains as fears of a no-deal Brexit recede. Wall Street provided a tepid lead as Federal Reserve boss Jerome Powell gave little away to lawmakers on the central bank's plans for monetary policy. With few catalysts to drive business, dealers are awaiting the latest developments in trade negotiations between the world's top two economies, which have helped fuel a rally across global markets this year. And while there was a stumble Tuesday, the gains continued in Asia in early trade with Shanghai rising 0.6 per cent, Hong Kong up 0.4 per cent, Tokyo ending the morning 0.5 per cent higher and Seoul climbing 0.3 per cent. Sydney added 0.4 per cent though Taipei and Wellington edged lower. However, while equities are enjoying a broad-based advance, there are warnings against overconfidence. "Investors will continue to trade from a positive standpoint, but anything that comes out that could possibly derail a China-US trade deal will probably lead to some strong profit-taking flows and a decent downside correction and increase in volatility," said Nick Twidale, chief operating officer at Rakuten Securities Australia. 'Perilous game' Hopes that Britain will not leave the European Union without a divorce pact in place has also provided some support to markets and the pound in particular. Sterling held its own in Asia a day after surging more than one per cent on Prime Minister Theresa May's decision to let MPs vote on a three-month delay to the March 29 Brexit deadline if she is unable to ram through her own deal. But Jeffrey Halley, senior market analyst at OANDA, pointed out that risks remained. Investors are "clearly second-guessing both the UK Parliament and the European Union, moving to a Brexit delay followed by a Brexit deal scenario", he said. "This seems like a perilous game to play, but the momentum of this hope-versus-reality trade could push the pound to much higher levels yet. Be warned, though, that a disappointment in this glossy scenario could see just as ugly a move back down." Traders will be keeping an eye on the second day of congressional testimony by Fed chief Powell after saying Tuesday that he saw inflation falling short of the bank's two per cent target despite rising employment and economic growth. The comments follow recent Fed announcements that it will be "patient" before lifting or cutting interest rates and did not provide much news to investors.

Asian markets up on lingering trade hopes, sterling holds gains

The benchmark BSE Sensex surrendered early gains on Wednesday to end in the negative terrain by shedding 68 points on escalating tensions between India and Pakistan.

Investor sentiment took a beating after Pakistani fighter jets on Wednesday violated Indian air space in Jammu and Kashmir’s Poonch and Nowshera sectors, brokers said.

After rising nearly 400 points in early trade, the Sensex turned negative triggered by across-the-market selling by participants. The index finally settled 68.28 points, or 0.19%, lower at 35,905.43.

The gauge had lost 239.67 points on Tuesday.

The 50-share Nifty also fell 28.65 points, or 0.26%, to 10,806.65. Intra-day, it moved between 10,939.70 and 10,751.20.

The rupee depreciated 25 paise to 71.32 after touching a low of 71.49 against the dollar (intra-day), also hitting trading sentiments.

Fears that foreign institutional investors (FIIs), who have been pumping sizeable funds into the Indian bourses in the past few sessions, may slow down their activity, too cast a shadow over domestic equities, experts said.

Pakistan on Wednesday claimed that it shot down two Indian military aircraft over Pakistani air space and arrested one of the pilots.

Later in the day, India’s External Affairs Ministry said Pakistan has used its Air Force to target military installations in India in response to Indian counter-terrorism operations but their attempts were foiled successfully through one Indian pilot is “missing in action”.

The move came after the Indian Air Force on Tuesday struck Jaish-e-Mohammed’s (JeM) biggest camp in Pakistan in a major “preemptive” action, killing a large number of terrorists and trainers of the Pak-based terror group preparing to carry out suicide attacks in India.

Domestic institutional investors sold equities to the tune of ₹720.27 crore, while Foreign institutional investors (FIIs) bought shares worth a net ₹1,674.17 crore, provisional data showed.

The benchmark BSE Sensex surrendered early gains on Wednesday to end in the negative terrain by shedding 68 points on escalating tensions between India and Pakistan.

The benchmark BSE Sensex surrendered early gains on Wednesday to end in the negative terrain by shedding 68 points on escalating tensions between India and Pakistan. Investor sentiment took a beating after Pakistani fighter jets on Wednesday violated Indian air space in Jammu and Kashmir’s Poonch and Nowshera sectors, brokers said. After rising nearly 400 points in early trade, the Sensex turned negative triggered by across-the-market selling by participants. The index finally settled 68.28 points, or 0.19%, lower at 35,905.43. The gauge had lost 239.67 points on Tuesday. The 50-share Nifty also fell 28.65 points, or 0.26%, to 10,806.65. Intra-day, it moved between 10,939.70 and 10,751.20. The rupee depreciated 25 paise to 71.32 after touching a low of 71.49 against the dollar (intra-day), also hitting trading sentiments. Fears that foreign institutional investors (FIIs), who have been pumping sizeable funds into the Indian bourses in the past few sessions, may slow down their activity, too cast a shadow over domestic equities, experts said. Pakistan on Wednesday claimed that it shot down two Indian military aircraft over Pakistani air space and arrested one of the pilots. Later in the day, India’s External Affairs Ministry said Pakistan has used its Air Force to target military installations in India in response to Indian counter-terrorism operations but their attempts were foiled successfully through one Indian pilot is “missing in action”. The move came after the Indian Air Force on Tuesday struck Jaish-e-Mohammed’s (JeM) biggest camp in Pakistan in a major “preemptive” action, killing a large number of terrorists and trainers of the Pak-based terror group preparing to carry out suicide attacks in India. Domestic institutional investors sold equities to the tune of ₹720.27 crore, while Foreign institutional investors (FIIs) bought shares worth a net ₹1,674.17 crore, provisional data showed.

Market extends losses as India-Pakistan tension escalates

The benchmark BSE Sensex fell over 350 points in early trade Tuesday amid rising tension between India and Pakistan, weak Asian cues and selling pressure on banking, power, IT and power counters. &nbsp; &nbsp;

The Sensex was trading 343.20 points, or 0.95 per cent, down at 35,870.18 after touching a low of 35,842.58. The gauge rallied 342 points in Monday's trade.

The 50-share Nifty also fell 105.45 points, or 0.97 per cent, to 10,774.65.

According to brokers, domestic investor sentiment took a beating after the Pakistan Army on Tuesday alleged that the Indian Air Force violated the Line of Control (LoC) in Muzafarabad sector.

The allegation came amid heightened tension between India and Pakistan after the February 14 suicide attack by Pakistan-based Jaish-e-Mohammad terror group that killed 40 CRPF soldiers in Jammu and Kashmir's Pulwama district.&nbsp;

The laggards that dragged the key indices include Yes Bank, Hero MotoCorp, Tata Steel, Vedanta, Sun Pharma, ICICI Bank, SBI, RIL, M&amp;M, Kotak Bank, Bajaj Finance, Infosys, NTPC, HDFC, Maruti Suzuki, Bajaj Auto, IndusInd Bank, L&amp;T, PowerGrid, Axis Bank, HDFC Bank, Asian Paint, ITC and ONGC, falling by up to 2.38 per cent.

On the other hand, TCS, HUL and Tata Motors rose up to 0.93 per cent.

Most of the BSE sectoral indices were trading in the red, led by banking, power, PSU, realty and IT stocks with losses up to 0.90 per cent.

A fresh round of selling by domestic institutional investors (DIIs) also dampened market sentiment here, brokers said.

Meanwhile, DIIs sold shares worth Rs 1,764.4 crore, while foreign portfolio investors (FPIs) bought shares worth a net of Rs 2,134.35 crore on Monday, provisional data showed.

In the Asian region, Hong Kong's Hang Seng was down 0.49 per cent, Japan's Nikkei fell 0.20 per cent, Taiwan shed 0.14 per cent, Korea's Kospi shed 0.19 per cent and Singapore Straits Times was down 0.27 per cent in late morning trade Tuesday.

The US Dow Jones Industrial Average, however, ended 0.23 per cent higher on Monday.

The benchmark BSE Sensex fell over 350 points in early trade Tuesday amid rising tension between India and Pakistan, weak Asian cues and selling pressure on banking, power, IT and power counters.

The benchmark BSE Sensex fell over 350 points in early trade Tuesday amid rising tension between India and Pakistan, weak Asian cues and selling pressure on banking, power, IT and power counters. The Sensex was trading 343.20 points, or 0.95 per cent, down at 35,870.18 after touching a low of 35,842.58. The gauge rallied 342 points in Monday's trade. The 50-share Nifty also fell 105.45 points, or 0.97 per cent, to 10,774.65. According to brokers, domestic investor sentiment took a beating after the Pakistan Army on Tuesday alleged that the Indian Air Force violated the Line of Control (LoC) in Muzafarabad sector. The allegation came amid heightened tension between India and Pakistan after the February 14 suicide attack by Pakistan-based Jaish-e-Mohammad terror group that killed 40 CRPF soldiers in Jammu and Kashmir's Pulwama district. The laggards that dragged the key indices include Yes Bank, Hero MotoCorp, Tata Steel, Vedanta, Sun Pharma, ICICI Bank, SBI, RIL, M&M, Kotak Bank, Bajaj Finance, Infosys, NTPC, HDFC, Maruti Suzuki, Bajaj Auto, IndusInd Bank, L&T, PowerGrid, Axis Bank, HDFC Bank, Asian Paint, ITC and ONGC, falling by up to 2.38 per cent. On the other hand, TCS, HUL and Tata Motors rose up to 0.93 per cent. Most of the BSE sectoral indices were trading in the red, led by banking, power, PSU, realty and IT stocks with losses up to 0.90 per cent. A fresh round of selling by domestic institutional investors (DIIs) also dampened market sentiment here, brokers said. Meanwhile, DIIs sold shares worth Rs 1,764.4 crore, while foreign portfolio investors (FPIs) bought shares worth a net of Rs 2,134.35 crore on Monday, provisional data showed. In the Asian region, Hong Kong's Hang Seng was down 0.49 per cent, Japan's Nikkei fell 0.20 per cent, Taiwan shed 0.14 per cent, Korea's Kospi shed 0.19 per cent and Singapore Straits Times was down 0.27 per cent in late morning trade Tuesday. The US Dow Jones Industrial Average, however, ended 0.23 per cent higher on Monday.

Sensex cracks over 350 points; Nifty below 10,800

The rupee depreciated 30 paise to 71.30 against the US dollar in early trade Tuesday at the forex market on fresh demand for the US currency from importers.

Strength in dollar against some currencies overseas and a lower opening in domestic equities kept pressure on the domestic unit, dealers said.

On Monday, the rupee firmed up by 17 paise to close at 70.97 against the US dollar in line with most Asian currencies amid hopes that the US and China will soon reach an agreement to settle their trade tariff issues.

Meanwhile, the benchmark BSE Sensex fell 349.78 points, or 0.97 per cent, to 35,863.60 in opening deals Tuesday.&nbsp;

The rupee depreciated 30 paise to 71.30 against the US dollar in early trade Tuesday at the forex market on fresh demand for the US currency from importers. Strength in dollar against some currencies overseas and a lower opening in domestic equities kept pressure on the domestic unit, dealers said.

The rupee depreciated 30 paise to 71.30 against the US dollar in early trade Tuesday at the forex market on fresh demand for the US currency from importers. Strength in dollar against some currencies overseas and a lower opening in domestic equities kept pressure on the domestic unit, dealers said. On Monday, the rupee firmed up by 17 paise to close at 70.97 against the US dollar in line with most Asian currencies amid hopes that the US and China will soon reach an agreement to settle their trade tariff issues. Meanwhile, the benchmark BSE Sensex fell 349.78 points, or 0.97 per cent, to 35,863.60 in opening deals Tuesday.

Rupee sheds 30 paise against US dollar in early trade

Equity benchmark indices fell on Tuesday as rising tension between India and Pakistan amid weak global cues shook investor confidence.

The Indian Air Force carried out multiple aerial strikes at major terror camps in Pakistan occupied Kashmir, 12 days after the ghastly terror attack in Pulwama. Experts said the move may geopolitical ramifications.

At 11:15 am, the BSE S&amp;P <a href="http://www.wionews.com/business-economy/sensex-cracks-over-350-pts-nifty-below-10800-199761">Sensex was down</a> nearly 285 points at 35,929 in opening deals and the NSE Nifty 50 slipped 81 points at 10,800 level.

All sectoral indices were in the red. Among the top losers were Hero MotoCorp, Yes Bank, Tata Steel, Vedanta, Mahindra &amp; Mahindra, and ICICI Bank.

Meanwhile, Asian markets also showed bearish trends as investors waited to see if the United States and China can clinch a trade deal on tariffs.

Equity benchmark indices fell on Tuesday as rising tension between India and Pakistan amid weak global cues shook investor confidence. The Indian Air Force carried out multiple aerial strikes at major terror camps in Pakistan occupied Kashmir, 12 days after the ghastly terror attack in Pulwama.

Equity benchmark indices fell on Tuesday as rising tension between India and Pakistan amid weak global cues shook investor confidence. The Indian Air Force carried out multiple aerial strikes at major terror camps in Pakistan occupied Kashmir, 12 days after the ghastly terror attack in Pulwama. Experts said the move may geopolitical ramifications. At 11:15 am, the BSE S&P Sensex was down nearly 285 points at 35,929 in opening deals and the NSE Nifty 50 slipped 81 points at 10,800 level. All sectoral indices were in the red. Among the top losers were Hero MotoCorp, Yes Bank, Tata Steel, Vedanta, Mahindra & Mahindra, and ICICI Bank. Meanwhile, Asian markets also showed bearish trends as investors waited to see if the United States and China can clinch a trade deal on tariffs.

Sensex falls 285 points as IAF strikes terror camps in Pakistan

The domestic stock market on Monday opened in green with BSE Sensex starting the day at 35, 983.80 and Nifty at 10,813.25.

As compared to its previous close on Friday at 35,871.48, Sensex registered a jump of over 100 points in early trade. Nifty, on the other hand, opened almost 16 points higher as compared to its close on Friday.&nbsp;

Meanwhile, the <a href="http://www.wionews.com/business-economy/rupee-gains-16-paise-against-us-dollar-amid-foreign-fund-inflows-199552">Indian currency firmed 14 paise</a> to 70.98 against the dollar in opening trade Monday after the greenback came under pressure against some currencies amid foreign fund inflows and a higher opening of domestic equity markets, news agency PTI reported.&nbsp;

On Friday, the rupee had gained 10 paise to end at 71.14 against the US dollar.

The domestic stock market on Monday opened in green with BSE Sensex starting the day at 35, 983.80 and Nifty at 10,813.25. As compared to its previous close on Friday at 35,871.

The domestic stock market on Monday opened in green with BSE Sensex starting the day at 35, 983.80 and Nifty at 10,813.25. As compared to its previous close on Friday at 35,871.48, Sensex registered a jump of over 100 points in early trade. Nifty, on the other hand, opened almost 16 points higher as compared to its close on Friday. Meanwhile, the Indian currency firmed 14 paise to 70.98 against the dollar in opening trade Monday after the greenback came under pressure against some currencies amid foreign fund inflows and a higher opening of domestic equity markets, news agency PTI reported. On Friday, the rupee had gained 10 paise to end at 71.14 against the US dollar.

Markets open in green, Sensex rises over 100 points in opening trade

The rupee firmed 14 paise to 70.98 against the dollar in opening trade Monday after the greenback came under pressure against some currencies amid foreign fund inflows and a higher opening of domestic equity markets.

Forex dealers said weakness in the dollar against some other currencies overseas as expectations of a trade deal between the US and China, and foreign capital inflows in the domestic equity markets supported the rupee.

At the interbank forex market, the rupee opened with strength at 71 and advanced further to quote 16 paise higher at 70.98 against the dollar.

According to provisional exchange data, foreign portfolio investors (FPIs) bought shares worth a net of Rs 6,311.01 crore on net basis on Friday.

On Friday, the rupee had gained 10 paise to end at 71.14 against the US dollar.

Meanwhile, the benchmark BSE Sensex rose 140.29 points, or 0.38 per cent, to 36,011.77 in opening session Monday.&nbsp;

The rupee firmed 14 paise to 70.98 against the dollar in opening trade Monday after the greenback came under pressure against some currencies amid foreign fund inflows and a higher opening of domestic equity markets.

The rupee firmed 14 paise to 70.98 against the dollar in opening trade Monday after the greenback came under pressure against some currencies amid foreign fund inflows and a higher opening of domestic equity markets. Forex dealers said weakness in the dollar against some other currencies overseas as expectations of a trade deal between the US and China, and foreign capital inflows in the domestic equity markets supported the rupee. At the interbank forex market, the rupee opened with strength at 71 and advanced further to quote 16 paise higher at 70.98 against the dollar. According to provisional exchange data, foreign portfolio investors (FPIs) bought shares worth a net of Rs 6,311.01 crore on net basis on Friday. On Friday, the rupee had gained 10 paise to end at 71.14 against the US dollar. Meanwhile, the benchmark BSE Sensex rose 140.29 points, or 0.38 per cent, to 36,011.77 in opening session Monday.

Rupee gains 16 paise against US dollar amid foreign fund inflows

Oil prices rose on Monday as Washington and China appeared to edge closer to a trade deal, dampening fears over the outlook for global economic growth.

International Brent crude oil futures were at $67.26 a barrel at 0005 GMT, up 14 cents, or 0.2 per cent, from their last close. They ended Friday little changed after touching their highest since November 16 at $67.73 a barrel.

US West Texas Intermediate (WTI) crude futures were at $57.38 per barrel, up 11 cents, or 0.2 per cent, from their last settlement. WTI futures climbed 0.5 per cent on Friday, having marked their highest since November 16 at $57.81 a barrel.

"Crude prices continue to be supported on optimism a trade deal will be reached in the coming days by the world's two largest economies, said Edward Moya, senior market analyst, OANDA.

President Donald Trump said on Sunday he would delay an increase in US tariffs on Chinese goods scheduled for later this week thanks to progress in trade talks and said if progress continued, he and Chinese President Xi Jinping would seal a deal.

Signs of reduced global oil supply also supported crude prices.

US energy firms this week cut the number of oil rigs operating for the first time in three weeks week after US&nbsp;crude production hit an all-time high, boosting exports to a record-peak and stockpiles to their highest in over a year.

Meanwhile, Mexico's Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday, underscoring the challenges facing a government that vows to pump far more in a few years.

Oil prices rose on Monday as Washington and China appeared to edge closer to a trade deal, dampening fears over the outlook for global economic growth. International Brent crude oil futures were at $67.

Oil prices rose on Monday as Washington and China appeared to edge closer to a trade deal, dampening fears over the outlook for global economic growth. International Brent crude oil futures were at $67.26 a barrel at 0005 GMT, up 14 cents, or 0.2 per cent, from their last close. They ended Friday little changed after touching their highest since November 16 at $67.73 a barrel. US West Texas Intermediate (WTI) crude futures were at $57.38 per barrel, up 11 cents, or 0.2 per cent, from their last settlement. WTI futures climbed 0.5 per cent on Friday, having marked their highest since November 16 at $57.81 a barrel. "Crude prices continue to be supported on optimism a trade deal will be reached in the coming days by the world's two largest economies, said Edward Moya, senior market analyst, OANDA. President Donald Trump said on Sunday he would delay an increase in US tariffs on Chinese goods scheduled for later this week thanks to progress in trade talks and said if progress continued, he and Chinese President Xi Jinping would seal a deal. Signs of reduced global oil supply also supported crude prices. US energy firms this week cut the number of oil rigs operating for the first time in three weeks week after US crude production hit an all-time high, boosting exports to a record-peak and stockpiles to their highest in over a year. Meanwhile, Mexico's Pemex produced 1.62 million barrels of crude per day in January, less than any month in almost three decades, the state-owned oil company said on Friday, underscoring the challenges facing a government that vows to pump far more in a few years.

Oil prices firm on hopes for US, China trade deal

Shanghai led a rally across Asian markets Monday after Donald Trump said he would delay a hike in tariffs on Chinese goods citing "substantial progress" in trade talks and fuelling hopes of an end to their long-running stand-off.

Optimism over the negotiations had already provided support to global equities, spurring a rally in January and February, but the president's comments gave extra ammunition to investors to ramp up the buying.

The news also fired currency markets with the yuan extending gains to a seven-month high, while other high-yielding, riskier units were also up against the dollar.

Trump said on Twitter that the US "has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues".

He added: "As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1."

The president also said he planned to hold a summit with his Chinese counterpart Xi Jinping at his Mar-a-Lago estate in Florida to sign a deal.

China's Xinhua news agency added that the two sides had "made substantial progress on specific issues" including on transfer of technology, intellectual property and agriculture.

'Sigh of relief'&nbsp;

In morning trade, Shanghai jumped 2.8 per cent and Hong Kong added 0.4 per cent while Tokyo ended the morning 0.7 per cent higher.

Sydney and Singapore each put on 0.1 per cent, while Seoul was flat, Taipei added 0.4 per cent and Jakarta rose 0.3 per cent.

The gains in Asia followed another positive lead from Wall Street, where the Dow enjoyed its ninth straight weekly gain -- the longest streak since May 1995.

"This is a sigh of relief," said Ben Emons, managing director for global macro strategy at Medley Global Advisors. "Markets will still keep a level of caution, but this news is encouraging," he told Bloomberg TV.

The upbeat sentiment lifted high-risk currencies, with the yuan hitting its highest level against the dollar since July, while South Korea's won, the Australian dollar and the Indonesia rupiah were also well up.

Forex traders will be closely watching speeches this week from top Federal Reserve officials -- including chairman Jerome Powell's appearance in front of lawmakers -- hoping for clues about the bank's monetary policy plans.

Wall Street "will be looking for soothing comments about the future size of the balance sheet -- the bigger the better -- and insights into future rate hikes", said Jeffrey Halley, senior market analyst at OANDA.

Shanghai led a rally across Asian markets Monday after Donald Trump said he would delay a hike in tariffs on Chinese goods citing "substantial progress" in trade talks and fuelling hopes of an end to their long-running stand-off.

Shanghai led a rally across Asian markets Monday after Donald Trump said he would delay a hike in tariffs on Chinese goods citing "substantial progress" in trade talks and fuelling hopes of an end to their long-running stand-off. Optimism over the negotiations had already provided support to global equities, spurring a rally in January and February, but the president's comments gave extra ammunition to investors to ramp up the buying. The news also fired currency markets with the yuan extending gains to a seven-month high, while other high-yielding, riskier units were also up against the dollar. Trump said on Twitter that the US "has made substantial progress in our trade talks with China on important structural issues including intellectual property protection, technology transfer, agriculture, services, currency, and many other issues". He added: "As a result of these very productive talks, I will be delaying the US increase in tariffs now scheduled for March 1." The president also said he planned to hold a summit with his Chinese counterpart Xi Jinping at his Mar-a-Lago estate in Florida to sign a deal. China's Xinhua news agency added that the two sides had "made substantial progress on specific issues" including on transfer of technology, intellectual property and agriculture. 'Sigh of relief' In morning trade, Shanghai jumped 2.8 per cent and Hong Kong added 0.4 per cent while Tokyo ended the morning 0.7 per cent higher. Sydney and Singapore each put on 0.1 per cent, while Seoul was flat, Taipei added 0.4 per cent and Jakarta rose 0.3 per cent. The gains in Asia followed another positive lead from Wall Street, where the Dow enjoyed its ninth straight weekly gain -- the longest streak since May 1995. "This is a sigh of relief," said Ben Emons, managing director for global macro strategy at Medley Global Advisors. "Markets will still keep a level of caution, but this news is encouraging," he told Bloomberg TV. The upbeat sentiment lifted high-risk currencies, with the yuan hitting its highest level against the dollar since July, while South Korea's won, the Australian dollar and the Indonesia rupiah were also well up. Forex traders will be closely watching speeches this week from top Federal Reserve officials -- including chairman Jerome Powell's appearance in front of lawmakers -- hoping for clues about the bank's monetary policy plans. Wall Street "will be looking for soothing comments about the future size of the balance sheet -- the bigger the better -- and insights into future rate hikes", said Jeffrey Halley, senior market analyst at OANDA.

Asia markets rally as Trump delays China tariffs

National Real Estate Development Council lauded the Goods and Services Tax <a href="http://www.wionews.com/business-economy/relief-for-homebuyers-gst-on-under-construction-flats-slashed-to-5-affordable-housing-to-attract-1-199371">rate cut on real estate announced on Sunday</a>.

The council's national president Niranjan Hiranandani said, "Industry lauds the GST rate cut on real estate to 5 per cent on non-affordable and 1 per cent on affordable housing without the input tax credit. This will bring big relief to the home buyers."

However, he added that the rate on cement was expected to get reduced but that did not happen.

Hiranandani added, "The GST rate on cement has not been reduced as was expected, at 28 per cent it remains among the highest taxed inputs for construction."

In an attempt to give a boost to the real estate sector, the GST Council on Sunday decided to reduce the tax on affordable housing properties without input tax credit to one per cent.

The effective GST of 5 per cent shall be applicable without ITC on residential properties outside the affordable segment, which was also decided by the GST Council at its 33rd meeting.

According to a press statement issued after the GST Council meeting, the definition of affordable housing shall be "a residential house/flat of carpet area up to 90 sqm (square meter) in non-metropolitan cities and towns and 60 sqm in metropolitan cities having value up to Rs 45 lakh, both for metropolitan and non-metropolitan cities."

"Metropolitan cities are Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater Noida, Ghaziabad, Gurugram, and Faridabad), Hyderabad, Kolkata, and Mumbai (whole of MMR or Mumbai Metropolitan Region,"&nbsp;said the statement.

"Intermediate tax on development right such as TDR (transfer of development rights), JDA (joint development agreements), (lease premium), FSI (floor space index) shall be exempted only for such residential property on which the GST is payable,"&nbsp;further stated the statement.

National Real Estate Development Council lauded the Goods and Services Tax rate cut on real estate announced on Sunday. The council's national president Niranjan Hiranandani said, "Industry lauds the GST rate cut on real estate to 5 per cent on non-affordable and 1 per cent on affordable housing without the input tax credit.

National Real Estate Development Council lauded the Goods and Services Tax rate cut on real estate announced on Sunday. The council's national president Niranjan Hiranandani said, "Industry lauds the GST rate cut on real estate to 5 per cent on non-affordable and 1 per cent on affordable housing without the input tax credit. This will bring big relief to the home buyers." However, he added that the rate on cement was expected to get reduced but that did not happen. Hiranandani added, "The GST rate on cement has not been reduced as was expected, at 28 per cent it remains among the highest taxed inputs for construction." In an attempt to give a boost to the real estate sector, the GST Council on Sunday decided to reduce the tax on affordable housing properties without input tax credit to one per cent. The effective GST of 5 per cent shall be applicable without ITC on residential properties outside the affordable segment, which was also decided by the GST Council at its 33rd meeting. According to a press statement issued after the GST Council meeting, the definition of affordable housing shall be "a residential house/flat of carpet area up to 90 sqm (square meter) in non-metropolitan cities and towns and 60 sqm in metropolitan cities having value up to Rs 45 lakh, both for metropolitan and non-metropolitan cities." "Metropolitan cities are Bengaluru, Chennai, Delhi NCR (limited to Delhi, Noida, Greater Noida, Ghaziabad, Gurugram, and Faridabad), Hyderabad, Kolkata, and Mumbai (whole of MMR or Mumbai Metropolitan Region," said the statement. "Intermediate tax on development right such as TDR (transfer of development rights), JDA (joint development agreements), (lease premium), FSI (floor space index) shall be exempted only for such residential property on which the GST is payable," further stated the statement.

National Real Estate Development Council lauds GST rate cut

The BSE Sensex zoomed 342 points and the NSE Nifty reclaimed the 10,800 marks Monday, driven by IT and financial stocks, amid heavy foreign and domestic fund inflows.

The 30-share index ended 341.90 points, or 0.95 per cent, at 36,213.38; while the broader Nifty soared 88.45 points, or 0.82 per cent, to conclude the session at 10,880.10 after shuttling between 10,887.10 and 10,788.05.

The Sensex had shed 27 points in Friday's trade.

Covering up of short positions by speculators ahead of February derivatives expiry on Thursday also added to the momentum, brokers said.

Besides, other Asian markets scaling a five-month high and a higher opening of European shares after US President Donald Trump announced the extension of the March 1 deadline for increasing tariff on import of Chinese products, as talks between the two sides were making "substantial progress", too boosted investor sentiment here.

Sentiments also got a lift after the GST Council at its meeting on Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, brokers said.

Top gainers in the Sensex pack include Yes Bank, TCS, Infosys, IndusInd Bank, HCL Tech, Bharti Airtel, HDFC, Sun Pharma, Bajaj Auto, ICICI Bank, Vedanta, Hero MotoCorp, ITC, Bajaj Finance, M&amp;M and Tata Steel, surging up to 3.24 per cent.

On the other hand, Coal India, SBI, Kotak Bank, Asian Paints, L&amp;T, ONGC, PowerGrid and RIL fell up to 0.37 per cent.

Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 6,311.01 crore, while DIIs made purchases of Rs 838.88 crore on Friday, provisional data showed.&nbsp;

The BSE Sensex zoomed 342 points and the NSE Nifty reclaimed the 10,800 marks Monday, driven by IT and financial stocks, amid heavy foreign and domestic fund inflows.

The BSE Sensex zoomed 342 points and the NSE Nifty reclaimed the 10,800 marks Monday, driven by IT and financial stocks, amid heavy foreign and domestic fund inflows. The 30-share index ended 341.90 points, or 0.95 per cent, at 36,213.38; while the broader Nifty soared 88.45 points, or 0.82 per cent, to conclude the session at 10,880.10 after shuttling between 10,887.10 and 10,788.05. The Sensex had shed 27 points in Friday's trade. Covering up of short positions by speculators ahead of February derivatives expiry on Thursday also added to the momentum, brokers said. Besides, other Asian markets scaling a five-month high and a higher opening of European shares after US President Donald Trump announced the extension of the March 1 deadline for increasing tariff on import of Chinese products, as talks between the two sides were making "substantial progress", too boosted investor sentiment here. Sentiments also got a lift after the GST Council at its meeting on Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, brokers said. Top gainers in the Sensex pack include Yes Bank, TCS, Infosys, IndusInd Bank, HCL Tech, Bharti Airtel, HDFC, Sun Pharma, Bajaj Auto, ICICI Bank, Vedanta, Hero MotoCorp, ITC, Bajaj Finance, M&M and Tata Steel, surging up to 3.24 per cent. On the other hand, Coal India, SBI, Kotak Bank, Asian Paints, L&T, ONGC, PowerGrid and RIL fell up to 0.37 per cent. Meanwhile, foreign portfolio investors (FPIs) bought shares worth a net Rs 6,311.01 crore, while DIIs made purchases of Rs 838.88 crore on Friday, provisional data showed.

Sensex rallies 342 points, Nifty tops 10,800; IT, bank stocks soar

Acting on complaints, sector regulator TRAI has directed distributors of TV channels to make sure that channels belonging to the same genre are placed together and one channel appears only at one place as prescribed under its rules, failing which it will take action against the erring distributor.&nbsp;

TRAI's directive is important from a subscriber viewpoint as not placing same genre channels together results in consumer difficulty in locating channels. On the other hand, appearance of channels in more than one place can influence its visibility and ratings.&nbsp;

The latest directive issued to distributors of TV channels -- which includes the likes of DTH operators and multi-system operators -- came in response to specific complaints received by TRAI alleging transmission of TV channels on dual 'Logical Channel Number', or placement of TV channels by distributors out of the genre or category declared by the broadcaster.

"Now, therefore, the authority, in exercise of the powers conferred upon it...And in order to protect the interest of service providers and consumers and ensure orderly growth of the sector, hereby directs all distributors of television channels to ensure that the TV channels of the same genre, as declared by the broadcasters, are placed together consecutively and one channel shall appear at one place only," said Telecom Regulatory Authority of India (TRAI) - also the broadcasting regulator - in its directive to TV players.

Failure to comply, will result on action being taken against such distributors, under the provision of TRAI Act, it added.

"The directive is effective immediately and TV channel distributors have been asked to strictly ensure compliance with the regulations. The directive has been issued to ensure that consumers do not face any inconvenience," Arvind Kumar, Advisor (Broadcasting), TRAI, told PTI.

The provision of TRAI's service quality regulations that came into effect in July 2018 requires every broadcaster to declare the genre of its channels under categories like devotional, general, entertainment, movies, news and current affairs amongst others.&nbsp;

It is mandatory for the distributor to place channels in the electronic programme guide, in such a way that the television channels of the same genre, are placed together consecutively, and one channel appears only at one place. Under the rules, every distributor of TV channel assigns a unique channel number for each TV channel available on the network, and in case a broadcaster changes the genre of a channel then the assigned channel number is also changed such that it is placed together with channels of the new genre in the electronic programme guide.

TRAI has recently unveiled the new tariff order and regulatory regime for the broadcast and cable sector, which paves the way for consumers to opt for channels they wish to view, and pay only for them. It has said every channel should be offered a la carte, with a transparent display of rates on electronic programme guide.&nbsp;

Earlier this month, the regulator had extended the time-line for consumers to make their channel preferences till March 31, 2019.

Acting on complaints, sector regulator TRAI has directed distributors of TV channels to make sure that channels belonging to the same genre are placed together and one channel appears only at one place as prescribed under its rules, failing which it will take action against the erring distributor.

Acting on complaints, sector regulator TRAI has directed distributors of TV channels to make sure that channels belonging to the same genre are placed together and one channel appears only at one place as prescribed under its rules, failing which it will take action against the erring distributor. TRAI's directive is important from a subscriber viewpoint as not placing same genre channels together results in consumer difficulty in locating channels. On the other hand, appearance of channels in more than one place can influence its visibility and ratings. The latest directive issued to distributors of TV channels -- which includes the likes of DTH operators and multi-system operators -- came in response to specific complaints received by TRAI alleging transmission of TV channels on dual 'Logical Channel Number', or placement of TV channels by distributors out of the genre or category declared by the broadcaster. "Now, therefore, the authority, in exercise of the powers conferred upon it...And in order to protect the interest of service providers and consumers and ensure orderly growth of the sector, hereby directs all distributors of television channels to ensure that the TV channels of the same genre, as declared by the broadcasters, are placed together consecutively and one channel shall appear at one place only," said Telecom Regulatory Authority of India (TRAI) - also the broadcasting regulator - in its directive to TV players. Failure to comply, will result on action being taken against such distributors, under the provision of TRAI Act, it added. "The directive is effective immediately and TV channel distributors have been asked to strictly ensure compliance with the regulations. The directive has been issued to ensure that consumers do not face any inconvenience," Arvind Kumar, Advisor (Broadcasting), TRAI, told PTI. The provision of TRAI's service quality regulations that came into effect in July 2018 requires every broadcaster to declare the genre of its channels under categories like devotional, general, entertainment, movies, news and current affairs amongst others. It is mandatory for the distributor to place channels in the electronic programme guide, in such a way that the television channels of the same genre, are placed together consecutively, and one channel appears only at one place. Under the rules, every distributor of TV channel assigns a unique channel number for each TV channel available on the network, and in case a broadcaster changes the genre of a channel then the assigned channel number is also changed such that it is placed together with channels of the new genre in the electronic programme guide. TRAI has recently unveiled the new tariff order and regulatory regime for the broadcast and cable sector, which paves the way for consumers to opt for channels they wish to view, and pay only for them. It has said every channel should be offered a la carte, with a transparent display of rates on electronic programme guide. Earlier this month, the regulator had extended the time-line for consumers to make their channel preferences till March 31, 2019.

TRAI asks distributors to ensure a channel appears only at one place, warns action on non-compliance

In a big relief to home buyers, the GST Council Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, Finance Minister Arun Jaitley said.

The Council also cut GST rates on affordable housing to 1 per cent from the current 8 per cent and expanded the scope of affordable housing to those costing up to Rs 45 lakh and measuring 60 sq metre in metros and 90 sq metre in non-metro cities.

The new tax rates will come into effect from April 1, 2019.

Currently, the GST is levied at 12 per cent on payments made for under-construction properties or ready-to-move-in flats where completion certificate has not been issued at the time of sale.

However, builders will not be able to claim an input tax credit (ITC) under the new GST rates.

"This (GST reduction) decision will certainly give a boost to the construction sector," Jaitley told reporters.

However, Goods and Services Tax (GST) is not levied on real estate properties for which completion certificate has been issued at the time of sale.

With regard to lotteries, the GST Council, however, deferred its decision with Jaitley saying that the Group of Ministers (GoM) will meet again to discuss the proposal.

Currently, state-run lotteries attract 12 per cent GST, while state-authorised ones attract 28 per cent.

In a big relief to home buyers, the GST Council Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, Finance Minister Arun Jaitley said.

In a big relief to home buyers, the GST Council Sunday slashed tax rates on under-construction housing properties to 5 per cent without the input tax credit, from the existing 12 per cent, Finance Minister Arun Jaitley said. The Council also cut GST rates on affordable housing to 1 per cent from the current 8 per cent and expanded the scope of affordable housing to those costing up to Rs 45 lakh and measuring 60 sq metre in metros and 90 sq metre in non-metro cities. The new tax rates will come into effect from April 1, 2019. Currently, the GST is levied at 12 per cent on payments made for under-construction properties or ready-to-move-in flats where completion certificate has not been issued at the time of sale. However, builders will not be able to claim an input tax credit (ITC) under the new GST rates. "This (GST reduction) decision will certainly give a boost to the construction sector," Jaitley told reporters. However, Goods and Services Tax (GST) is not levied on real estate properties for which completion certificate has been issued at the time of sale. With regard to lotteries, the GST Council, however, deferred its decision with Jaitley saying that the Group of Ministers (GoM) will meet again to discuss the proposal. Currently, state-run lotteries attract 12 per cent GST, while state-authorised ones attract 28 per cent.

Relief for homebuyers: GST on under-construction flats slashed to 5%; affordable housing to attract 1%

Some Microsoft Corp employees on Friday demanded that the company cancel a $480 million hardware contract to supply the US Army, with 94 workers signing a petition calling on the company to stop developing "any and all weapons technologies."

The organizing effort, described to Reuters by three Microsoft workers, offers the latest example in the last year of tech employees protesting cooperation with governments on emerging technologies.

Microsoft won a contract in November to supply the Army with at least 2,500 prototypes of augmented reality headsets, which digitally display contextual information in front of a user's eyes. The government has said the devices would be used on the battlefield and in training to improve soldiers "lethality, mobility and situational awareness."

In the petition to Microsoft executives, posted on Twitter, the workers said they "did not sign up to develop weapons, and we demand a say in how our work is used." They called on the company to develop "a public-facing acceptable use policy" for its technology and an external review board to publicly enforce it.

Microsoft said in a statement that it always appreciates employee feedback. It also referred to an October blog post by its president, Brad Smith, in which he said the company remained committed to assisting the military and would advocate for laws to ensure responsible use of new technologies.

The US Army did not provide immediate comment.

Shares of Microsoft fell 7 cents to $110.90 after hours on Friday.

Though many governments want to draw upon the expertise of the biggest US tech companies, employee resistance has added a new challenge to already complicated relationships.

Worker pushback led Alphabet Inc last year to announce it would not renew a Pentagon contract in which its artificial intelligence technology is used to analyze drone imagery.

In other cases, employee criticism has invited greater public scrutiny to deals, such as $10 billion cloud computing contract yet to be awarded and various contracts with US Immigration and Customs Enforcement.

One Microsoft worker, speaking on condition of anonymity, said it was unclear whether any of the lead petitioners' work was part of the Army contract. Another said several organizers work in the company's cloud computing division, which is competing with rivals Google Cloud and Amazon Web Services to gain more government work.

Microsoft is expected unveil updates to HoloLens, its headset for businesses and governments, during an event at the Mobile World Congress industry conference in Barcelona on Sunday.

Some Microsoft Corp employees on Friday demanded that the company cancel a $480 million hardware contract to supply the US Army, with 94 workers signing a petition calling on the company to stop developing "any and all weapons technologies.

Some Microsoft Corp employees on Friday demanded that the company cancel a $480 million hardware contract to supply the US Army, with 94 workers signing a petition calling on the company to stop developing "any and all weapons technologies." The organizing effort, described to Reuters by three Microsoft workers, offers the latest example in the last year of tech employees protesting cooperation with governments on emerging technologies. Microsoft won a contract in November to supply the Army with at least 2,500 prototypes of augmented reality headsets, which digitally display contextual information in front of a user's eyes. The government has said the devices would be used on the battlefield and in training to improve soldiers "lethality, mobility and situational awareness." In the petition to Microsoft executives, posted on Twitter, the workers said they "did not sign up to develop weapons, and we demand a say in how our work is used." They called on the company to develop "a public-facing acceptable use policy" for its technology and an external review board to publicly enforce it. Microsoft said in a statement that it always appreciates employee feedback. It also referred to an October blog post by its president, Brad Smith, in which he said the company remained committed to assisting the military and would advocate for laws to ensure responsible use of new technologies. The US Army did not provide immediate comment. Shares of Microsoft fell 7 cents to $110.90 after hours on Friday. Though many governments want to draw upon the expertise of the biggest US tech companies, employee resistance has added a new challenge to already complicated relationships. Worker pushback led Alphabet Inc last year to announce it would not renew a Pentagon contract in which its artificial intelligence technology is used to analyze drone imagery. In other cases, employee criticism has invited greater public scrutiny to deals, such as $10 billion cloud computing contract yet to be awarded and various contracts with US Immigration and Customs Enforcement. One Microsoft worker, speaking on condition of anonymity, said it was unclear whether any of the lead petitioners' work was part of the Army contract. Another said several organizers work in the company's cloud computing division, which is competing with rivals Google Cloud and Amazon Web Services to gain more government work. Microsoft is expected unveil updates to HoloLens, its headset for businesses and governments, during an event at the Mobile World Congress industry conference in Barcelona on Sunday.

Microsoft workers demand to drop $480 million US Army contract

India outlined a new draft policy for its burgeoning e-commerce sector on Saturday, focusing on data localisation, improved privacy safeguards and measures to combat the sale of counterfeit products.

The proposed overhaul, which would likely increase operating costs for the sector, comes two months after the country modified regulations governing foreign direct investment in e-commerce.

That forced retail giants Amazon.com Inc and Walmart-owned Flipkart to restructure their Indian operations, and the latest reforms spell further upheaval.

"In the future, economic activity is likely to follow data," the widely expected draft policy document said. "It is hence vital that we retain control of data to ensure job creation within India".

The new rules call for the housing of more data centres and server farms locally, amid a broader push for data localization by the South Asian nation, which is one of the world's fastest-growing online markets.

India's central bank in 2018 forced payments providers such as Mastercard and Visa Inc to store Indian users' data locally.

"Steps will be taken to develop capacity for data storage in India," the draft e-commerce rules said. "A period of three years would be given to allow industry to adjust to the data storage requirement."

Flipkart and Amazon said they were going through the draft rules and will share their inputs with the government.

The proposed rules also seek the creation of a "legal and technological framework" that can help impose restrictions on the cross-border flow of data generated by users, moves that may affect not just e-commerce platforms but also social media firms such as Alphabet Inc's Google and rival Facebook Inc.

India also plans to mandate all e-commerce firms to provide access to their data stored abroad whenever official requests are made. The rules, which come at a time New Delhi is working on a broader data privacy law, also forbid companies from sharing data stored abroad with other businesses even with user consent.

Other proposals include mandating all e-commerce websites or apps operating in India to have a locally registered business entity, and increasing liability of e-commerce players to ensure products sold on their platforms are not counterfeit or pirated.

"Lot of issues covered, bold decisions," the All India Online Vendors Association, which represents more than 3,500 online sellers, said in a tweet.

New Delhi has invited comments on the proposed rules by March 9, after which the rules are likely to be formalised.

India outlined a new draft policy for its burgeoning e-commerce sector on Saturday, focusing on data localisation, improved privacy safeguards and measures to combat the sale of counterfeit products.

India outlined a new draft policy for its burgeoning e-commerce sector on Saturday, focusing on data localisation, improved privacy safeguards and measures to combat the sale of counterfeit products. The proposed overhaul, which would likely increase operating costs for the sector, comes two months after the country modified regulations governing foreign direct investment in e-commerce. That forced retail giants Amazon.com Inc and Walmart-owned Flipkart to restructure their Indian operations, and the latest reforms spell further upheaval. "In the future, economic activity is likely to follow data," the widely expected draft policy document said. "It is hence vital that we retain control of data to ensure job creation within India". The new rules call for the housing of more data centres and server farms locally, amid a broader push for data localization by the South Asian nation, which is one of the world's fastest-growing online markets. India's central bank in 2018 forced payments providers such as Mastercard and Visa Inc to store Indian users' data locally. "Steps will be taken to develop capacity for data storage in India," the draft e-commerce rules said. "A period of three years would be given to allow industry to adjust to the data storage requirement." Flipkart and Amazon said they were going through the draft rules and will share their inputs with the government. The proposed rules also seek the creation of a "legal and technological framework" that can help impose restrictions on the cross-border flow of data generated by users, moves that may affect not just e-commerce platforms but also social media firms such as Alphabet Inc's Google and rival Facebook Inc. India also plans to mandate all e-commerce firms to provide access to their data stored abroad whenever official requests are made. The rules, which come at a time New Delhi is working on a broader data privacy law, also forbid companies from sharing data stored abroad with other businesses even with user consent. Other proposals include mandating all e-commerce websites or apps operating in India to have a locally registered business entity, and increasing liability of e-commerce players to ensure products sold on their platforms are not counterfeit or pirated. "Lot of issues covered, bold decisions," the All India Online Vendors Association, which represents more than 3,500 online sellers, said in a tweet. New Delhi has invited comments on the proposed rules by March 9, after which the rules are likely to be formalised.

India proposes new e-commerce regulations with focus on data rules

Alibaba Group Holding Ltd expects to avoid layoffs this year despite China's economic slowdown, CEO Daniel Zhang said on Friday.

The comments contradict Chinese media reports and market speculation about job cuts and a pull-back for China's internet sector amid weakening domestic demand and an prolonged trade dispute with the United States.

"This year we not only won't layoff employees, we will continue to utilise the resources on our platforms to boost consumption, bringing in more manufacturing and services orders," Zhang said in a Weibo post.

"When the economy is bad, the biggest advantage for online platforms is to create jobs."

This week reports circulated in Chinese media that e-commerce site and Alibaba rival JD.com Inc would lay off 10 percent of its senior executives. The company declined to comment directly on the cuts.

Days earlier, the CEO of ride-hailing company Didi Chuxing said it would lay off 15 percent of its employees, though he added that it intended to add as many jobs in new roles.

Just before Chinese New Year, social media firm ByteDance advised staff they would receive lower-than-expected holiday bonuses.

In November, Alibaba cut its full-year revenue forecast to between 375 billion yuan and 383 billion yuan ($54.4 bln-$55.6 bln), marking a 4-6 percent decrease from its initial target.

The company announces its earnings for the fiscal year in May.

Alibaba Group Holding Ltd expects to avoid layoffs this year despite China's economic slowdown, CEO Daniel Zhang said on Friday. The comments contradict Chinese media reports and market speculation about job cuts and a pull-back for China's internet sector amid weakening domestic demand and an prolonged trade dispute with the United States.

Alibaba Group Holding Ltd expects to avoid layoffs this year despite China's economic slowdown, CEO Daniel Zhang said on Friday. The comments contradict Chinese media reports and market speculation about job cuts and a pull-back for China's internet sector amid weakening domestic demand and an prolonged trade dispute with the United States. "This year we not only won't layoff employees, we will continue to utilise the resources on our platforms to boost consumption, bringing in more manufacturing and services orders," Zhang said in a Weibo post. "When the economy is bad, the biggest advantage for online platforms is to create jobs." This week reports circulated in Chinese media that e-commerce site and Alibaba rival JD.com Inc would lay off 10 percent of its senior executives. The company declined to comment directly on the cuts. Days earlier, the CEO of ride-hailing company Didi Chuxing said it would lay off 15 percent of its employees, though he added that it intended to add as many jobs in new roles. Just before Chinese New Year, social media firm ByteDance advised staff they would receive lower-than-expected holiday bonuses. In November, Alibaba cut its full-year revenue forecast to between 375 billion yuan and 383 billion yuan ($54.4 bln-$55.6 bln), marking a 4-6 percent decrease from its initial target. The company announces its earnings for the fiscal year in May.

Alibaba CEO rules out layoffs this year